This paper proposes a stochastic model for hybrid power plants participation in day-ahead electricity markets, considering uncertainty in market prices and renewable generation. Additionally, it presents a methodology to incorporate this hybrid participation into existing production cost models (PCM), allowing the analysis and market design of future systems with high penetration of hybrids. These developments are illustrated using a wind-battery hybrid located in New York Independent System Operator (NYISO) footprint.
BT - 2023 IEEE Power & Energy Society General Meeting (PESGM) CY - Orlando, FL, USA DA - 07/2023 DO - https://doi.org/10.1109/PESGM52003.2023.10252335 LA - eng N1 -This is a preprint version of conference proceedings published IEEE. The published paper can be viewed here.
A full report on this project was published in August 2023 and can be viewed here.
N2 -This paper proposes a stochastic model for hybrid power plants participation in day-ahead electricity markets, considering uncertainty in market prices and renewable generation. Additionally, it presents a methodology to incorporate this hybrid participation into existing production cost models (PCM), allowing the analysis and market design of future systems with high penetration of hybrids. These developments are illustrated using a wind-battery hybrid located in New York Independent System Operator (NYISO) footprint.
PB - IEEE PP - Orlando, FL, USA PY - 2023 T2 - 2023 IEEE Power & Energy Society General Meeting (PESGM) T3 - 2023 IEEE Power & Energy Society General Meeting (PESGM) TI - Hybrid Power Plant Bidding in Models of Future Electricity Systems UR - https://ieeexplore.ieee.org/abstract/document/10252335 ER -