Continuous Reinforcement Algorithm and Robust Economic Dispatching-Based Spot Electricity Market Modeling considering Strategic Behaviors of Wind Power Producers and Other Participants
In a spot wholesale electricity market containing strategic bidding interactions among wind power producers and other participants such as fossil generation companies and distribution companies, the randomly fluctuating natures of wind power hinders not only the modeling and simulating of the dynami...
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| Format: | Article |
| Language: | English |
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Wiley
2019-01-01
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| Series: | Journal of Electrical and Computer Engineering |
| Online Access: | http://dx.doi.org/10.1155/2019/9406072 |
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| author | Zhenyu Zhao Shuguang Yuan Qingyun Nie Weishang Guo |
| author_facet | Zhenyu Zhao Shuguang Yuan Qingyun Nie Weishang Guo |
| author_sort | Zhenyu Zhao |
| collection | DOAJ |
| description | In a spot wholesale electricity market containing strategic bidding interactions among wind power producers and other participants such as fossil generation companies and distribution companies, the randomly fluctuating natures of wind power hinders not only the modeling and simulating of the dynamic bidding process and equilibrium of the electricity market but also the effectiveness about keeping economy and reliability in market clearing (economic dispatching) corresponding to the independent system operator. Because the gradient descent continuous actor-critic algorithm is demonstrated as an effective method in dealing with Markov’s decision-making problems with continuous state and action spaces and the robust economic dispatch model can optimize the permitted real-time wind power deviation intervals based on wind power producers’ bidding power output, in this paper, considering bidding interactions among wind power producers and other participants, we propose a gradient descent continuous actor-critic algorithm-based hour-ahead electricity market modeling approach with the robust economic dispatch model embedded. Simulations are implemented on the IEEE 30-bus test system, which, to some extent, verifies the market operation economy and the robustness against wind power fluctuations by using our proposed modeling approach. |
| format | Article |
| id | doaj-art-63ca87099a21457aa605a79659618cb5 |
| institution | Kabale University |
| issn | 2090-0147 2090-0155 |
| language | English |
| publishDate | 2019-01-01 |
| publisher | Wiley |
| record_format | Article |
| series | Journal of Electrical and Computer Engineering |
| spelling | doaj-art-63ca87099a21457aa605a79659618cb52025-02-03T01:26:24ZengWileyJournal of Electrical and Computer Engineering2090-01472090-01552019-01-01201910.1155/2019/94060729406072Continuous Reinforcement Algorithm and Robust Economic Dispatching-Based Spot Electricity Market Modeling considering Strategic Behaviors of Wind Power Producers and Other ParticipantsZhenyu Zhao0Shuguang Yuan1Qingyun Nie2Weishang Guo3Beijing Key Laboratory of New Energy and Low-Carbon Development (North China Electric Power University), Changping District, Beijing 102206, ChinaBeijing Key Laboratory of New Energy and Low-Carbon Development (North China Electric Power University), Changping District, Beijing 102206, ChinaBeijing Key Laboratory of New Energy and Low-Carbon Development (North China Electric Power University), Changping District, Beijing 102206, ChinaBeijing Key Laboratory of New Energy and Low-Carbon Development (North China Electric Power University), Changping District, Beijing 102206, ChinaIn a spot wholesale electricity market containing strategic bidding interactions among wind power producers and other participants such as fossil generation companies and distribution companies, the randomly fluctuating natures of wind power hinders not only the modeling and simulating of the dynamic bidding process and equilibrium of the electricity market but also the effectiveness about keeping economy and reliability in market clearing (economic dispatching) corresponding to the independent system operator. Because the gradient descent continuous actor-critic algorithm is demonstrated as an effective method in dealing with Markov’s decision-making problems with continuous state and action spaces and the robust economic dispatch model can optimize the permitted real-time wind power deviation intervals based on wind power producers’ bidding power output, in this paper, considering bidding interactions among wind power producers and other participants, we propose a gradient descent continuous actor-critic algorithm-based hour-ahead electricity market modeling approach with the robust economic dispatch model embedded. Simulations are implemented on the IEEE 30-bus test system, which, to some extent, verifies the market operation economy and the robustness against wind power fluctuations by using our proposed modeling approach.http://dx.doi.org/10.1155/2019/9406072 |
| spellingShingle | Zhenyu Zhao Shuguang Yuan Qingyun Nie Weishang Guo Continuous Reinforcement Algorithm and Robust Economic Dispatching-Based Spot Electricity Market Modeling considering Strategic Behaviors of Wind Power Producers and Other Participants Journal of Electrical and Computer Engineering |
| title | Continuous Reinforcement Algorithm and Robust Economic Dispatching-Based Spot Electricity Market Modeling considering Strategic Behaviors of Wind Power Producers and Other Participants |
| title_full | Continuous Reinforcement Algorithm and Robust Economic Dispatching-Based Spot Electricity Market Modeling considering Strategic Behaviors of Wind Power Producers and Other Participants |
| title_fullStr | Continuous Reinforcement Algorithm and Robust Economic Dispatching-Based Spot Electricity Market Modeling considering Strategic Behaviors of Wind Power Producers and Other Participants |
| title_full_unstemmed | Continuous Reinforcement Algorithm and Robust Economic Dispatching-Based Spot Electricity Market Modeling considering Strategic Behaviors of Wind Power Producers and Other Participants |
| title_short | Continuous Reinforcement Algorithm and Robust Economic Dispatching-Based Spot Electricity Market Modeling considering Strategic Behaviors of Wind Power Producers and Other Participants |
| title_sort | continuous reinforcement algorithm and robust economic dispatching based spot electricity market modeling considering strategic behaviors of wind power producers and other participants |
| url | http://dx.doi.org/10.1155/2019/9406072 |
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