Flexible consumption of wind power in short-term electricity market

Wind power as a main force of renewable energy has been developing rapidly in recent years. With the increasing of penetration, wind power participating in electricity market becomes inevitable. Although structures of electricity market are varied in different countries, almost all of electricity markets organize forward market and regulation market in common. In this paper, a flexible consumption methodology in short-term market with considering shifting load, competitive market and price risk was proposed and a two-stage optimization decision model was formulated. Firstly, wind producer decides parts of reliable bidding power in forward market by optimal strategies. Secondly, with the improving of wind power prediction over time, the decision of actual energy allocation between competitive market and shifting load was made according to the rolling updated data. Uncertainty of spot price risk was also considered in the paper. Case study proved that the methodology proposed in this paper can further increase revenues, reduce spillage, and enhance competitiveness of wind power generation.