Robust bidding strategy for wind power plants and energy storage in electricity markets
This paper explores a robust optimization-based bidding strategy for operating a wind farm in combination with energy storage devices in electricity markets. Through coordination with moderate capacity of energy storage, variable wind resources can be utilized in multi-time-scale electricity market operations, as opposed to being utilized only as real-time non-dispatchable energy producers. Given the inherent uncertainties in electricity market prices and available wind generator output, a robust optimization-based approach is formulated to determine the bidding strategy. Case studies on day-ahead and hour-ahead markets show that robust-optimization based bidding strategy provides computationally practical and economically efficient approach to operating wind farms and co-located storage when uncertainties are severe.