Robust bidding strategy for aggregation of distributed prosumers in flexiramp market

Khoshjahan, Mohammad; Kezunovic, Mladen

doi:10.1016/j.epsr.2022.107994

Robust bidding strategy for aggregation of distributed prosumers in flexiramp market

Journal Article · Fri Apr 08 00:00:00 EDT 2022 · Electric Power Systems Research

DOI:https://doi.org/10.1016/j.epsr.2022.107994· OSTI ID:1977111

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Texas A & M University, College Station, TX (United States); OSTI
Texas A & M University, College Station, TX (United States)

Distributed prosumers (DPs) are the grid customers that own energy production/storage assets. Due to the flexibility and fast response of their assets, they can procure ancillary service products (ASP) in the wholesale market. An appealing ASP offered by California ISO in the real-time market (RTM) is flexiramp for which market participants do not submit direct offers, and the compensation is based on their energy opportunity costs. Here in this report, we propose a bidding strategy model for DP aggregator participation in the RTM considering energy and flexiramp. First, we develop a risk-averse optimization to determine the optimal energy and reserve product to trade in day-ahead market while considering proper amounts of flexiramp to trade in the RTM. In the RTM, to obtain optimal amounts of energy and flexiramp, the aggregator must submit hourly multi-level price-quantity energy bids for multiple RTM intervals with 15 min time-steps. On this basis, we propose a robust hourly economic bidding strategy model that determines the optimal energy bids in the RTM. We develop an adjustable robust counterpart of the model to address the RTM energy and flexiramp price uncertainties. The simulation results justify the efficacy of our proposed framework in gaining profits from the wholesale market.

View Accepted Manuscript (DOE)

Research Organization:: Washington State University, Pullman, WA (United States)

Sponsoring Organization:: USDOE Office of International Affairs (IA)

Grant/Contract Number:: IA0000025

OSTI ID:: 1977111

Alternate ID(s):: OSTI ID: 1862497

Journal Information:: Electric Power Systems Research, Journal Name: Electric Power Systems Research Journal Issue: C Vol. 209; ISSN 0378-7796

Publisher:: ElsevierCopyright Statement

Country of Publication:: United States

Language:: English

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