Risk-cost model of spinning reserve of power system incorporated wind power in electricity market
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    Abstract:

    In order to quantify the impact caused by the fluctuation and randomness of wind power, the method of conditional value at risk (CVaR) is proposed to build the spinning reserve model of the electric power system incorporated wind power which includs the conventional unit operation cost, the pollution cost, expected energy not supplied cost and spinning reserve capacity cost in the environment of electricity market, and the model is solved by quantum-inspired and differential evolution algorithm in Matlab environment, and then the advantages of quantum differential evolution algorithm, the impact of different profit risk levels on spinning reserve capacity and the influence of different degrees of confidence on the system total operation cost and the value of CVaR are analyzed by simulation examples. It is concluded that the higher the risk level (the more conservative attitude towards wind power), the smaller the up-down spinning reserve of the system, and the higher the confidence of the up-down spinning reserve capacity of the system, the lower the total operating cost and CVaR value of the system.

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History
  • Received:August 28,2018
  • Revised:September 28,2018
  • Adopted:September 17,2018
  • Online: January 28,2019
  • Published: January 28,2019
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