Optimized operation framework of distributed thermal storage aggregators in the electricity spot market

Wang, Haixin, Cai, Xiangyu, Yang, Zihao, Li, Gen, Zhou, Yue ORCID: https://orcid.org/0000-0002-6698-4714, Yang, Junyou, Chen, Zhe and Hu, Shiyan 2024. Optimized operation framework of distributed thermal storage aggregators in the electricity spot market. IEEE Transactions on Industrial Informatics 20 (2) , pp. 2272-2283. 10.1109/TII.2023.3290228

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Abstract

For distributed solid electricity thermal storage aggregators (DSETSA), the uncertainty of the marginal clearing price may lead to the problem of multi-bidding scenarios (including successful, part successful and failed biddings) in the electricity spot market. Moreover, the marginal operating cost affecting the bidding revenue in the spot market is not considered in the existing methods, which challenge the bidding of the aggregators. To address the challenge, this paper proposes an optimized operation framework for DSETSA. First, based on the incomplete information characteristics of the spot market, an optimal bidding model which incorporates marginal operating cost constraints for DSETSA under multi-bidding scenarios is proposed to increase the operation profit. Second, the DSETSA's multi-bidding scenario problem induced by the uncertainty of the marginal clearing price in the electricity spot market is cast into a probability distribution representation using the Bayesian incomplete information theory to increase the chances of winning bids. Finally, framework establishes the relationship between the bidding price, electricity demand and public traded electricity in the spot market. The effectiveness of the proposed framework is demonstrated through simulations.

Item Type:	Article
Date Type:	Publication
Status:	Published
Schools:	Engineering
Publisher:	Institute of Electrical and Electronics Engineers
ISSN:	1551-3203
Date of First Compliant Deposit:	17 July 2023
Last Modified:	25 Mar 2024 16:48
URI:	https://orca.cardiff.ac.uk/id/eprint/160910

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