RISK MANAGEMENT OF WIND POWER PRODUCER’S BIDDING DEVIATION IN DAY-AHEAD ELECTRICITY MARKET BASED ON OPTION CONTRACT

被引：0
|
作者：
Zhang Z. [1 ]
Zhang S. [1 ]
Wang X. [1 ]
Wu B. [1 ]
机构：
[1] School of Mechatronic Engineering and Automation, Shanghai University, Shanghai
来源：
Taiyangneng Xuebao/Acta Energiae Solaris Sinica | 2023年 / 44卷 / 11期
关键词：
game theory; option contract; power markets; risk management; wind power;
D O I：
10.19912/j.0254-0096.tynxb.2022-1069
中图分类号：
学科分类号：
摘要：
Due to the uncertainties in wind power and the balancing market prices，WPPs will face great risk when bidding in the day-ahead market. Therefore，a call-option-based method is proposed to control the balancing market price risk and reduce WPPs’risk in the day-ahead market bidding. To investigate the impacts of the call option contract on a WPP’s day-ahead market bidding behaviors，a stochastic Cournot equilibrium model of the day-ahead wholesale electricity market is developed，taking considerations of the WPP’s call option contract. In this model，a scenario reduction technique is employed to describe the uncertainties in wind power and the balancing market prices. Numerical examples are presented to verify the reasonableness and effectiveness of the proposed model. It is shown that the call option contract can help to reduce the WPP’s profit fluctuation and its bid deviations in the day-ahead market. In addition，the WPP can maximize its utility by choosing an appropriate call option contract volume. © 2023 Science Press. All rights reserved.
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页码：255 / 262
页数：7
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