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Continuous Reinforcement Algorithm and Robust Economic Dispatching-Based Spot Electricity Market Modeling considering Strategic Behaviors of Wind Power Producers and Other Participants
Joint Authors
Zhao, Zhenyu
Yuan, Shuguang
Nie, Qingyun
Guo, Weishang
Source
Journal of Electrical and Computer Engineering
Issue
Vol. 2019, Issue 2019 (31 Dec. 2019), pp.1-16, 16 p.
Publisher
Hindawi Publishing Corporation
Publication Date
2019-03-03
Country of Publication
Egypt
No. of Pages
16
Main Subjects
Information Technology and Computer Science
Abstract EN
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.
American Psychological Association (APA)
Zhao, Zhenyu& Yuan, Shuguang& Nie, Qingyun& Guo, Weishang. 2019. 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،Vol. 2019, no. 2019, pp.1-16.
https://search.emarefa.net/detail/BIM-1173882
Modern Language Association (MLA)
Zhao, Zhenyu…[et al.]. 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 No. 2019 (2019), pp.1-16.
https://search.emarefa.net/detail/BIM-1173882
American Medical Association (AMA)
Zhao, Zhenyu& Yuan, Shuguang& Nie, Qingyun& Guo, Weishang. 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. 2019. Vol. 2019, no. 2019, pp.1-16.
https://search.emarefa.net/detail/BIM-1173882
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references
Record ID
BIM-1173882