1161 / 2019-07-15 22:34:54

Joint bidding strategy of wind-storage systems in the forward power maket

wind-storage systems,forward power market,joint bidding strategy,deviation penalty fee,Energy storage satisfaction

Due to the periodicity and volatility of wind resources, wind power producers must consider the effects of these uncertain factors when participating in the forward power market. Under this background, the energy storage is used as the flexible regulation resource to reduce the influence of wind power output uncertainty. This is also known as the wind-storage system. In this paper, we propose a novel combined bidding strategy for wind-storage systems participating in the market. The objective of this strategy is maximize the total profit in the forward market. The deviation penalty fee and energy storage state satisfaction are also considered in our objective. Finally, an example is given to verify the effectiveness of the strategy. The results show that, compared with the independent bidding of wind power and energy storage, the joint bidding strategy can effectively improve the market profits of wind-storage systems and enhance the competitiveness of wind power producers in the market.