Multi-timescale coordinated operation of a CHP plant-wind farm portfolio considering multiple uncertainties

Abstract

This paper proposes a multi-timescale coordinated operation approach which coordinates the combined heat and power (CHP) plant and wind farm operation in a deregulated day-ahead heat market and a real-time balancing electricity market. This approach aims to optimize profits of the CHP-wind farm portfolio by considering energy sale in the day-ahead heat market and penalty in the real-time two-price balancing market. Multiple uncertainties of heat load, wind power generation, day-ahead electricity price, up- and down-regulation prices are taken into account for the optimal operation. A stochastic optimization method is applied to solve the proposed coordinated operation problem. The proposed multi-timescale coordinated operation approach is simulated on a real-life system in Copenhagen Denmark where an energy company owns both a CHP plant and a wind farm. The simulation results verify that the proposed method can achieve a profitable operation in the markets and a highly robust operation against the multiple uncertainties.