Hour-Ahead Offering Strategies in Electricity Market for Power Producers with Storage and Intermittent Supply

Research output: Journal Publications and Reviews (RGC: 21, 22, 62)21_Publication in refereed journalpeer-review

View graph of relations

Author(s)

Detail(s)

Original languageEnglish
Pages (from-to)21-22
Journal / PublicationPerformance Evaluation Review
Volume45
Issue number1
Publication statusPublished - Jun 2017
Externally publishedYes

Abstract

This paper proposes online offering strategies for a storage-assisted renewable power producer that participates in hour-ahead electricity market. The online strategy determines the offering price and volume, while no exact or stochastic future information is available in a time-coupled setting in the presence of the storage. The proposed online strategy achieves the best possible competitive ratio of O(log θ), where θ is the ratio between the maximum and minimum clearing prices. Trace-driven experiments demonstrate that the proposed strategy achieves close-to-optimal performance.

Research Area(s)

  • competitive online algorithm design, hour-ahead electricity market, offering strategy, storage-assisted renewable power producer

Bibliographic Note

The publication is also published in SIGMETRICS 2017 Abstracts - Proceedings of the 2017 ACM SIGMETRICS / International Conference on Measurement and Modeling of Computer Systems.