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This paper deals with optimal placement of the energy storage units within a deregulated power system to minimize its hourly social cost. Wind generation and load are modeled probabilistically using actual data and a curve fitting approach. Based on a model of the electricity market, we minimize the hourly social cost using probabilistic optimal power flow (POPF) then use a genetic algorithm to maximize...
While integrating wind power into the electricity market can reduce the operational and fuel costs of the power system, it also increases the imbalance cost and the need for reserve. Due to this contradictory, there is a need for planning the amount of wind power in the power system. This paper proposes a model to determine the real-time optimal participation of wind power in an electricity market...
This paper proposes a stochastic time-series based method to simulate the volatility of intermittent renewable generation and distributed storage devices along timeline. The proposed method can calculate the optimal timeline for different electricity markets and power systems. In practice, the proposed method is potentially useful for designing market rules and evaluating different design options...
This paper develops bidding strategy for operating pumped storage power plant in a combined pool-bilateral market. 1/0/-1 mixed-integer programming model to account discrete tri-state operation of pumped storage plant is developed and multi-looping sequential optimization approach is used to solve the problem. Considering realistic case study, operating strategies for the pumped storage plant are...
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