Stochastic Operation of Integrated CHP-Wind-Energy Storage Systems in Joint Energy and Reserve Markets

Energy and reserves are defined as electricity markets elements, which are known as traded and cleared products. The clearing of energy and reserves can be accomplished using sequential or simultaneous approaches. In this paper, a stochastic optimal scheduling framework is proposed in order to maximize a power generation company s profit. This company consists of wind turbine, energy storage system (ESS), combined heat and power (CHP) units. The CHP units, which generate simultaneous power and heat in a feasible operating zone, are considered in order to supply power and heat demand in line with other units. In addition to meeting its own industrial heat and power demands, the system is scheduled for optimal operation in joint energy and reserve market. The time horizon of scheduling framework is 24 hours. Scenario-based model is used to simulate the uncertainly of the wind speed and status of being called by the ISO in the reserve market. The amount of generated power through the each unit and sold power in the energy and reserve market are presented and analyzed in the results, which proves the practicality and effectiveness of the proposed framework.

Stochastic Operation of Integrated CHP-Wind-Energy Storage Systems in Joint Energy and Reserve Markets Keywords:

joint energy and reserve markets , electrical energy , storage systems , stochastic operation , combined heat and power , , wind power generation