Research On Wind-hydro Coordinated Operation Strategy In Power Market

With the fast development of wind generation and the ongoingprocess of power market, the operation strategy of wind power plant inpower market attracts attention. Due to the volatility and intermittency ofwind power, the profit of wind power plant will be influenced incompetitive structure of power market. The coordinated operation ofwind power plant and hydro plant provides a solution to the problembecause the flexibility of hydro unit.The coordinated operation strategy of wind-hydro power plant inpower market consists of bidding and operation parts. Before obtainingthe optimal bids, first we defined the operation rules under certain bids,i.e. the coordinated plants aims at minimizing the energy imbalance, oncondition that its ancillary service can be delivered as required. Then,considering the operation characteristic of wind and hydro unit, theoptimal bidding combinations are obtained which aims at maximizing the profit expectation. The simulation results show that the coordinatedoperation is efficient in raising the profit expectation after we comparethe results of coordinated operation and uncoordinated operation.The generation company must hedge the risk as well as pursuingprofits. In different types of power market, the expected profit and riskare different. In this paper, we used efficient portfolio theory to analysisthe participation in different power markets. To minimize the risk under acertain level of expected profit, we get the efficient portfolio ofcoordinated plants in power market. The simulation results demonstratedthe effectiveness of coordinated operation in increasing the profits as wellas reducing the risks.