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Hybrid Power Plant Bidding in Models of Future Electricity Systems

Publication Type

Conference Proceedings

Date Published

07/2023

Authors

Kemp, Julie Mulvaney, Miguel Heleno, Andrew D Mills

DOI

https://doi.org/10.1109/PESGM52003.2023.10252335

Abstract

This paper proposes a stochastic model for hybrid power plants participation in day-ahead electricity markets, considering uncertainty in market prices and renewable generation. Additionally, it presents a methodology to incorporate this hybrid participation into existing production cost models (PCM), allowing the analysis and market design of future systems with high penetration of hybrids. These developments are illustrated using a wind-battery hybrid located in New York Independent System Operator (NYISO) footprint.

Journal

2023 IEEE Power & Energy Society General Meeting (PESGM)

Year of Publication

2023

URL

https://ieeexplore.ieee.org/abstract/document/10252335

Notes

This is a preprint version of conference proceedings published IEEE. The published paper can be viewed here.

A full report on this project was published in August 2023 and can be viewed here.

Organization

Energy Markets and Policy Department, Energy Analysis and Environmental Impacts Division

Research Areas

Grid Operations, Integration, and Infrastructure, Energy Market Design and Assessment