Title :
Pumped storage bidding and its impacts in combined pool-bilateral market
Author :
Kanakasabapathy, P. ; Swarup, K. Shanti
Author_Institution :
Dept. Electr. Eng., Indian Inst. of Technol. Madras, Chennai, India
Abstract :
This paper develops bidding strategy for operating pumped storage power plant in a combined pool-bilateral market. 1/0/-1 mixed-integer programming model to account discrete tri-state operation of pumped storage plant is developed and multi-looping sequential optimization approach is used to solve the problem. Considering realistic case study, operating strategies for the pumped storage plant are evaluated. Operating pumped storage plant in an electricity market can lead to significant changes in the consumer and producer surplus, energy prices and market efficiency. This paper investigates how integration of pumped storage energy trade affects the net welfare of electricity market.
Keywords :
energy storage; power markets; power plants; power system economics; bidding strategy; combined pool-bilateral market; electricity market; mixed-integer programming; multi-looping sequential optimization; net welfare; pumped storage power plant; Contracts; Costs; Economic forecasting; Electricity supply industry; Energy storage; Large-scale systems; Paper technology; Power generation; Power markets; Power systems; Bidding Strategy; Combined Pool-Bilateral Market; Mixed-Integer Programming; Pumped Storage; Self-Scheduling; Social Welfare;
Conference_Titel :
Power Systems, 2009. ICPS '09. International Conference on
Conference_Location :
Kharagpur
Print_ISBN :
978-1-4244-4330-7
Electronic_ISBN :
978-1-4244-4331-4
DOI :
10.1109/ICPWS.2009.5442661
