Social Welfare Maximization of Competitive Congested Power Market Considering Wind Farm and Pumped Hydroelectric Storage System

The utilization of wind energy sources with energy storage systems has been increased in the power sector to satisfy the consumer’s energy demand with minimum price. This paper presents the impact of a wind farm (WF) and pumped hydroelectric storage (PHS) system in the competitive electricity market...

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Autores principales:	Subhojit Dawn, Sadhan Gope, Shreya Shree Das, Taha Selim Ustun
Formato:	article
Lenguaje:	EN
Publicado:	MDPI AG 2021
Materias:	wind farm (WF) pumped hydroelectric storage (PHS) system market clearing price (MCP) market clearing volume (MCV) generator sensitivity factor (GSF) bus sensitivity factor (BSF) Electronics TK7800-8360
Acceso en línea:	https://doaj.org/article/2c1b2636c8884fd39aa36ed9444ddfe8
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id	oai:doaj.org-article:2c1b2636c8884fd39aa36ed9444ddfe8
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spelling	oai:doaj.org-article:2c1b2636c8884fd39aa36ed9444ddfe82021-11-11T15:38:02ZSocial Welfare Maximization of Competitive Congested Power Market Considering Wind Farm and Pumped Hydroelectric Storage System10.3390/electronics102126112079-9292https://doaj.org/article/2c1b2636c8884fd39aa36ed9444ddfe82021-10-01T00:00:00Zhttps://www.mdpi.com/2079-9292/10/21/2611https://doaj.org/toc/2079-9292The utilization of wind energy sources with energy storage systems has been increased in the power sector to satisfy the consumer’s energy demand with minimum price. This paper presents the impact of a wind farm (WF) and pumped hydroelectric storage (PHS) system in the competitive electricity market under a congested transmission system. The PHS system is used to compensate for the deviation of WF generation in the real-time electricity market. To investigate the impact of the proposed method, initially, the market-clearing power problem is solved without consideration of WF and PHS systems, and again it is solved with the WF and PHS systems. The optimal location of the WF and PHS systems is decided by the bus sensitivity factor (BSF) of these systems. The analysis is carried out by using generator sensitivity factor (GSF) with the help of the moth flame optimization (MFO) algorithm and thereby calculating market clearing price (MCP) and market clearing volume (MCV). The MFO algorithm is used here for the first time for solving the congested market-clearing power problem with the integration of WF and PHS systems under deregulated environment. The presented approach shows the improvement of social welfare after the placement of WF and PHS in the congested deregulated system. Modified IEEE 30 bus system is used to solve the market-clearing power problem and results obtained from the MFO algorithm are compared with the firefly algorithm (FA). Three different real-time wind speed data have been considered here to verify the proposed approach with uncertainty and the continuously changing nature of wind flow. It is discovered that social welfare is improved with the quantity addition of wind power, regardless of optimization techniques.Subhojit DawnSadhan GopeShreya Shree DasTaha Selim UstunMDPI AGarticlewind farm (WF)pumped hydroelectric storage (PHS) systemmarket clearing price (MCP)market clearing volume (MCV)generator sensitivity factor (GSF)bus sensitivity factor (BSF)ElectronicsTK7800-8360ENElectronics, Vol 10, Iss 2611, p 2611 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	wind farm (WF) pumped hydroelectric storage (PHS) system market clearing price (MCP) market clearing volume (MCV) generator sensitivity factor (GSF) bus sensitivity factor (BSF) Electronics TK7800-8360
spellingShingle	wind farm (WF) pumped hydroelectric storage (PHS) system market clearing price (MCP) market clearing volume (MCV) generator sensitivity factor (GSF) bus sensitivity factor (BSF) Electronics TK7800-8360 Subhojit Dawn Sadhan Gope Shreya Shree Das Taha Selim Ustun Social Welfare Maximization of Competitive Congested Power Market Considering Wind Farm and Pumped Hydroelectric Storage System
description	The utilization of wind energy sources with energy storage systems has been increased in the power sector to satisfy the consumer’s energy demand with minimum price. This paper presents the impact of a wind farm (WF) and pumped hydroelectric storage (PHS) system in the competitive electricity market under a congested transmission system. The PHS system is used to compensate for the deviation of WF generation in the real-time electricity market. To investigate the impact of the proposed method, initially, the market-clearing power problem is solved without consideration of WF and PHS systems, and again it is solved with the WF and PHS systems. The optimal location of the WF and PHS systems is decided by the bus sensitivity factor (BSF) of these systems. The analysis is carried out by using generator sensitivity factor (GSF) with the help of the moth flame optimization (MFO) algorithm and thereby calculating market clearing price (MCP) and market clearing volume (MCV). The MFO algorithm is used here for the first time for solving the congested market-clearing power problem with the integration of WF and PHS systems under deregulated environment. The presented approach shows the improvement of social welfare after the placement of WF and PHS in the congested deregulated system. Modified IEEE 30 bus system is used to solve the market-clearing power problem and results obtained from the MFO algorithm are compared with the firefly algorithm (FA). Three different real-time wind speed data have been considered here to verify the proposed approach with uncertainty and the continuously changing nature of wind flow. It is discovered that social welfare is improved with the quantity addition of wind power, regardless of optimization techniques.
format	article
author	Subhojit Dawn Sadhan Gope Shreya Shree Das Taha Selim Ustun
author_facet	Subhojit Dawn Sadhan Gope Shreya Shree Das Taha Selim Ustun
author_sort	Subhojit Dawn
title	Social Welfare Maximization of Competitive Congested Power Market Considering Wind Farm and Pumped Hydroelectric Storage System
title_short	Social Welfare Maximization of Competitive Congested Power Market Considering Wind Farm and Pumped Hydroelectric Storage System
title_full	Social Welfare Maximization of Competitive Congested Power Market Considering Wind Farm and Pumped Hydroelectric Storage System
title_fullStr	Social Welfare Maximization of Competitive Congested Power Market Considering Wind Farm and Pumped Hydroelectric Storage System
title_full_unstemmed	Social Welfare Maximization of Competitive Congested Power Market Considering Wind Farm and Pumped Hydroelectric Storage System
title_sort	social welfare maximization of competitive congested power market considering wind farm and pumped hydroelectric storage system
publisher	MDPI AG
publishDate	2021
url	https://doaj.org/article/2c1b2636c8884fd39aa36ed9444ddfe8
work_keys_str_mv	AT subhojitdawn socialwelfaremaximizationofcompetitivecongestedpowermarketconsideringwindfarmandpumpedhydroelectricstoragesystem AT sadhangope socialwelfaremaximizationofcompetitivecongestedpowermarketconsideringwindfarmandpumpedhydroelectricstoragesystem AT shreyashreedas socialwelfaremaximizationofcompetitivecongestedpowermarketconsideringwindfarmandpumpedhydroelectricstoragesystem AT tahaselimustun socialwelfaremaximizationofcompetitivecongestedpowermarketconsideringwindfarmandpumpedhydroelectricstoragesystem
_version_	1718434785594966016

Social Welfare Maximization of Competitive Congested Power Market Considering Wind Farm and Pumped Hydroelectric Storage System

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