A Robust Linear Approach for Offering Strategy of a Hybrid Electric Energy Company

作者：Kazemi Mostafa^*; Zareipour Hamidreza; Ehsan Mehdi; Rosehart William D

来源：IEEE Transactions on Power Systems, 2017, 32(3): 1949-1959.

DOI：10.1109/TPWRS.2016.2597338

• Bidding strategy
• demand response programs
• duality theory
• robust optimization

This paper presents a new approach for determining the day-ahead bidding strategies of a large-scale hybrid electric energy company. The company has both energy generation and energy retailing businesses in a competitive electricity market. Demand response programs are also considered in the retail side of the company in order to hedge the risk of participation in wholesale market. This paper introduces a max-min bilevel mathematical programming with equilibrium constraint model for offering a strategy that manages the risk of uncertain forecasted rivals' bids by robust optimization. The max-min bilevel model is converted to its equivalent single-level optimization using Karush-Kuhn-Tucker optimality conditions. The duality theory is utilized to find the equivalent ordinary maximization model of the max-min problem. Strong duality theory and big M method are also used to linearize the final model of offering strategy. Applicability of the proposed approach is shown by implementing it on the IEEE 118-bus test system.

• 出版日期2017-5