Publication Type | Conference Paper |
Year of Publication | 2016 |
Authors | F.-Javier Heredia; Cristina Corchero; Marlyn D. Cuadrado |
Conference Name | 28th European Conference on Operational Research |
Series Title | Conference Handbook |
Pagination | 322 |
Conference Date | 3-6/07/2016 |
Conference Location | Poznan, Poland |
Type of Work | contributed presentation. |
Key Words | research; VPP; wind generation; battery energy storage system; stochastic programming; electricity market; optimal bid |
Abstract | The recent cost reduction and technologic advances in medium to large scale Battery Energy Storage Systems (BESS) makes these devices a real choice alternative for wind producers operating in electricity markets. The association of a wind power farm with a BESS (the so called Virtual Power Plant VPP) provides utilities with a tool to turn the uncertainty wind power production into a dispatchable technology enabled to operate not only in the spot and adjustment markets (day-ahead and intraday markets) but also in ancillary services markets that, up to now, was forbidden to non-dispatchable technologies. Even more, recent studies have shown that the capital cost investment in BESS can only be recovered through the participation of such a VPP in the ancillary services markets. We present in this study a stochastic programming model to find the optimal participation of a VPP to the day-ahead market and secondary reserve markets (the most relevant ancillary service market) where the uncertainty in wind power generation and markets prices (day-ahead ancillary services) has been considered. A case study with real data from the Iberian Electricity Market is presented. |
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Publication Type | Proceedings Article |
Year of Publication | 2015 |
Authors | Leire Citores; Cristina Corchero; F.-Javier Heredia |
Conference Name | 12th International Conference on the European Energy Market (EEM15) |
Pagination | 1-6 |
Conference Start Date | 19-22/05/2015 |
Publisher | IEEE |
Conference Location | Lisbon, Portugal. |
ISBN Number | 978-1-4673-6691-5 |
Key Words | Microgrids; Optimization; Production; Stochastic processes; Uncertainty; Wind power generation; Wind speed; energy system optimization; microgrid; scenario generation; stochastic programming; paper; research |
Abstract | In this work a scenario-based two-stage stochastic programming model is proposed to solve a microgrid's tertiary control optimization problem taking into account some renewable energy resource's uncertainty as well as uncertain energy deviation prices in the electricity market. Scenario generation methods for wind speed realizations are also studied. Results show that the introduction of stochastic programming represents a significant improvement over a deterministic model. |
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DOI | 10.1109/EEM.2015.7216761 |
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Publication Type | Proceedings Article |
Year of Publication | 2015 |
Authors | F.-Javier Heredia; Jordi Riera; Montserrat Mata; Joan Escuer; Jordi Romeu |
Conference Name | 12th International Conference on the European Energy Market (EEM15) |
Pagination | 1- 5 |
Conference Start Date | 19/05/2015 |
Publisher | IEEE |
Conference Location | Lisbone, Portugal. |
ISBN Number | 978-1-4673-6692-2/15 |
Key Words | virtual power plants; energy economy; battery energy storage systems; electricity markets; SAS/OR; wind power; research; paper |
Abstract | Battery electric storage systems (BESS) in the range of 1-10 MWh is a key technology allowing a more efficient operation of small electricity market producer. The aim of this work is to assess the economic viability of Li-ion based BESS systems for small electricity producers. The results of the ex-post economic analysis performed with real data from the Iberian Electricity Market shows the economic viability of a Li-ion based BESS thanks to the optimal operation in day-ahead and ancillary electricity markets. |
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DOI | 10.1109/EEM.2015.7216739 |
Preprint | http://hdl.handle.net/2117/82524 |
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Publication Type | Conference Paper |
Year of Publication | 2015 |
Authors | F.-Javier Heredia; Antonio Rengifo |
Conference Name | 27th European Conference on Operational Research |
Conference Date | 12-15/07/2015 |
Conference Location | Glasgow, UK. |
Type of Work | invited |
Key Words | research; MTM2013-48462-C2-1; mixed-integer nonlinear programming; proximal bundle methods; multimarket electricity problems; parallelism |
Abstract | The use of stochastic programming to solve real instances of optimal bid problems in electricity market usually implies the solution of large scale mixed integer nonlinear optimization problems that can't be tackled with the available general purpose commercial optimisation software. In this work we show the potential of proximal bundle methods to solve large scale stochastic programming problems arising in electricity markets. Proximal bundle methods was used in the past to solve deterministic unit commitment problems and are extended in this work to solve real instances of stochastic optimal bid problems to the day-ahead market (with embedded unit commitment) with thousands of scenarios. A parallel implementation of the proximal bundle method has been developed to take profit of the separability of the lagrangean problem in as many subproblems as generation bid units. The parallel proximal bundle method (PPBM) is compared against general purpose commercial optimization software as well as against the perspective cuts algorithm, a method specially conceived to deal with quadratic objective function over semi-continuous domains. The reported numerical results obtained with a workstation with 32 threads show that the commercial software can’t find a solution beyond 50 scenarios and that the execution times of the proposed PPBM are as low as a 15% of the execution time of the perspective cut approach for problems beyond 800 scenarios. |
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The first one, Parallel Proximal Bundle Methods for Stochastic Electricity Market Problems in collaboration with Mr. Antonio Rengifo, a former student of our Master in Statistics and Operations Research.
The second one, entitled A multi-objective approach to infrastructure planning in the early stages of EV introduction in collaboration with the Energy Economy group of the Catalonia Institute for Energy Reseach.
Publication Type | Conference Paper |
Year of Publication | 2015 |
Authors | F.-Javier Heredia; Jordi Riera; Montserrat Mata; Joan Escuer; Jordi Romeu |
Conference Name | 12th International Conference on the European Energy Market |
Conference Date | 19-22/05/2015 |
Conference Location | Lisbon, Portugal |
Type of Work | contributed presentation |
Key Words | research; MTM2013-48462-C2-1; battery electricity storage systems; electricity markets; day-ahead market; secondary reserve market; SAS/OR; wind power plants; energy economy; virtual power plant |
Abstract | Battery electric storage systems (BESS) in the range of 1-10 MWh is a key technology allowing a more efficient operation of small electricity market producer. The aim of this work is to assess the economic viability of Li-ion based BESS systems for small electricity producers. The results of the ex-post economic analysis performed with real data from the Iberian Electricity Market shows the economic viability of a Li-ion based BESS thanks to the optimal operation in day-ahead and ancillary electricity markets. |
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Publication Type | Conference Paper |
Year of Publication | 2014 |
Authors | F.-Javier Heredia; Julián Cifuentes; Cristina Corchero |
Conference Name | IFORS2014: 20th Conference of the International Federation of Operational Research Societies |
Conference Date | 13-18/07/2014 |
Conference Location | Barcelona |
Type of Work | Invited presentation |
Key Words | research; emission limits; risk; stochastic programming; day-ahead electricity market; combined cycle units |
Abstract | This work allows investigating the influence of the emission reduction plan, and the incorporation of the derivatives medium-term commitments in the optimal generation bidding strategy to the day-ahead electricity market. Two different technologies have been considered: the coal thermal units, high-emission technology, and the combined cycle gas turbine units, low-emission technology. The Iberian Electricity Market (MIBEL) and the Spanish National Emission Reduction Plan (NERP) defines the environmental framework to deal with by the day-ahead market bidding strategies. To address emission limitations, some of the standard risk management methodologies developed for financial markets, such as Value-at-Risk (VaR) and Conditional Valueat- Risk (CVaR), have been extended giving rise to the new concept of Conditional Emission at Risk (CEaR). The economic implications for a GenCo of including the environmental restrictions of this National Plan are analyzed, and the effect of the NERP in the expected profits and optimal generation bid are analyzed. |
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On June 2014 two new Master Thesis of the Master of Statistcs and Operations Research UPC-UB was presented
Dr. Cristina Corchero (IREC) and professor F.-Javier Heredia (GNOM) were the advisors of these two works developped at the facilities of the Catalonia Institute for Energy Research (IREC).
Publication Type | Tesis de Grau i Màster // BSc and MSc Thesis |
Year of Publication | 2014 |
Authors | Leire Citores |
Director | F.-Javier Heredia, Cristina Corchero |
Tipus de tesi | MSc Thesis |
Titulació | Master in Statistics and Operations research |
Centre | Faculty of Mathematics and Statistics |
Data defensa | 27/06/2014 |
Nota // mark | 10 MH (A with Honours) |
Key Words | research; teaching; microgrids, stochastic programming; scenario generation; wind generation; day-ahead electricity market; imbalances; MSc Thesis |
Abstract | In this thesis a scenario-based two-stage stochastic programming model is proposed to solve a microgrid's tertiary control optimization problem taking into account some renewable energy resource s uncertainty as well uncertain energy deviation prices in the electricity market. Scenario generation methods for wind speed realizations are also studied. Results show that the introduction of stochastic programming represents an improvement over a deterministic model. |
DOI / handle | http://hdl.handle.net/2099.1/23235 |
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