Journal
IEEE TRANSACTIONS ON POWER SYSTEMS
Volume 36, Issue 4, Pages 3607-3617Publisher
IEEE-INST ELECTRICAL ELECTRONICS ENGINEERS INC
DOI: 10.1109/TPWRS.2021.3049742
Keywords
Uncertainty; Mathematical model; Spinning; Atmospheric modeling; Thermodynamics; Load modeling; State of charge; Affine Arithmetic (AA); compressed air energy storage (CAES); price uncertainties; robust optimization (RO); self-scheduling
Categories
Funding
- Natural Sciences, and Engineering Research Council of Canada (NSERC) [CRDPJ 477323 - 14]
- Ontario Centres of Excellence (OCE)
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The study presents two mathematical formulations to represent uncertainties in self-scheduling models of a CAES facility, showing the advantages of these methods through testing, validation, and comparison with Monte Carlo simulations.
This paper presents two mathematical formulations to represent uncertainties in self-scheduling models of a price-taker Compressed Air Energy Storage (CAES) facility. The proposed model is from the point of view of the plant owner participating in the energy, spinning, and idle reserve markets. The first described formulation is based on Robust Optimization (RO) and the second one is based on Affine Arithmetic (AA) techniques, which are both range arithmetic methodologies, and consider the thermodynamic characteristics of the CAES facility for a more realistic representation. The implementation of both methods are tested, validated and compared with each other and with Monte Carlo Simulations (MCS) using prices from the Ontario market. From the simulation results, it can be observed that both methods have some similarities, presenting lower computational burden compared with MCS, and demonstrate the advantage of applying the proposed models for CAES plant owners to hedge against price uncertainties.
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