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An approach for efficient assessment of the performance of double auction competitive power market under variable imbalance cost due to high uncertain wind penetration

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  • Dawn, Subhojit
  • Tiwari, Prashant Kumar
  • Goswami, Arup Kumar

Abstract

Wind power integration in an existing power system needs more attention due to its uncertain nature. If a difference creates between the actual and forecasted wind speeds and the power delivery contract is signed between the Generation Companies (GENCOs) and Distribution Companies (DISCOs) as per the forecasted speed, then the GENCOs may be awarded or penalized by the Independent System Operator (ISO) for their surplus or deficit power supply. This paper proposes an approach to assess the uncertainties of wind speed of the wind integrated electrical system within a completely deregulated environment. In this work, twelve spots in India have been chosen randomly for the application of the proposed approach and to verify the outcome of the proposed approach. The real time data for actual wind speed (AWS) and forecasted wind speed (FWS) of all selected spots have been also considered. The imbalance cost due to mismatch between the forecasted and actual wind speeds is evaluating by formulation of surplus charge rate and deficit charge rate. Modified IEEE 14-bus and modified IEEE 30-bus systems are considered for analyzing the effectiveness of the proposed approach.

Suggested Citation

  • Dawn, Subhojit & Tiwari, Prashant Kumar & Goswami, Arup Kumar, 2017. "An approach for efficient assessment of the performance of double auction competitive power market under variable imbalance cost due to high uncertain wind penetration," Renewable Energy, Elsevier, vol. 108(C), pages 230-243.
    • Handle: RePEc:eee:renene:v:108:y:2017:i:c:p:230-243
    DOI: 10.1016/j.renene.2017.02.061
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    References listed on IDEAS

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    1. Rubin, Ofir D. & Babcock, Bruce A., 2013. "The impact of expansion of wind power capacity and pricing methods on the efficiency of deregulated electricity markets," Energy, Elsevier, vol. 59(C), pages 676-688.
    2. EL-Shimy, M., 2010. "Optimal site matching of wind turbine generator: Case study of the Gulf of Suez region in Egypt," Renewable Energy, Elsevier, vol. 35(8), pages 1870-1878.
    3. Foley, Aoife M. & Leahy, Paul G. & Marvuglia, Antonino & McKeogh, Eamon J., 2012. "Current methods and advances in forecasting of wind power generation," Renewable Energy, Elsevier, vol. 37(1), pages 1-8.
    4. Liu, Jinqiang & Wang, Xiaoru & Lu, Yun, 2017. "A novel hybrid methodology for short-term wind power forecasting based on adaptive neuro-fuzzy inference system," Renewable Energy, Elsevier, vol. 103(C), pages 620-629.
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    Cited by:

    1. Thapar, Sapan, 2022. "Centralized vs decentralized solar: A comparison study (India)," Renewable Energy, Elsevier, vol. 194(C), pages 687-704.
    2. Mitul Ranjan Chakraborty & Subhojit Dawn & Pradip Kumar Saha & Jayanta Bhusan Basu & Taha Selim Ustun, 2022. "System Profit Improvement of a Thermal–Wind–CAES Hybrid System Considering Imbalance Cost in the Electricity Market," Energies, MDPI, vol. 15(24), pages 1-25, December.
    3. Ganesh Sampatrao Patil & Anwar Mulla & Taha Selim Ustun, 2022. "Impact of Wind Farm Integration on LMP in Deregulated Energy Markets," Sustainability, MDPI, vol. 14(7), pages 1-20, April.
    4. Shreya Shree Das & Arup Das & Subhojit Dawn & Sadhan Gope & Taha Selim Ustun, 2022. "A Joint Scheduling Strategy for Wind and Solar Photovoltaic Systems to Grasp Imbalance Cost in Competitive Market," Sustainability, MDPI, vol. 14(9), pages 1-22, April.
    5. Mitul Ranjan Chakraborty & Subhojit Dawn & Pradip Kumar Saha & Jayanta Bhusan Basu & Taha Selim Ustun, 2023. "System Economy Improvement and Risk Shortening by Fuel Cell-UPFC Placement in a Wind-Combined System," Energies, MDPI, vol. 16(4), pages 1-30, February.
    6. Ganesh Sampatrao Patil & Anwar Mulla & Subhojit Dawn & Taha Selim Ustun, 2022. "Profit Maximization with Imbalance Cost Improvement by Solar PV-Battery Hybrid System in Deregulated Power Market," Energies, MDPI, vol. 15(14), pages 1-21, July.
    7. Arup Das & Subhojit Dawn & Sadhan Gope & Taha Selim Ustun, 2022. "A Strategy for System Risk Mitigation Using FACTS Devices in a Wind Incorporated Competitive Power System," Sustainability, MDPI, vol. 14(13), pages 1-21, July.

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