Business model based on bidding strategy for the Wind Power Plant and District Heating System portfolio considering ancillary services
- Resource Type
- Conference
- Authors
- Jiang, Man; Niu, Yinsheng; Zhang, Xueyu; Wang, Shuo; Wang, Zhengyuan; Zhu, Mengshu; Cui, Shichang
- Source
- 2023 IEEE 6th International Electrical and Energy Conference (CIEEC) Electrical and Energy Conference (CIEEC), 2023 IEEE 6th International. :262-267 May, 2023
- Subject
- Engineered Materials, Dielectrics and Plasmas
Power, Energy and Industry Applications
District heating
Wind power generation
Regulation
Power systems
Security
Portfolios
Frequency control
Wind power plant
district heating system
business model
bidding
stochastic optimization
ancillary service
frequency regulation
- Language
This paper proposes a business model based on bidding strategy for the wind power plant and district heating system (WPP-DHS) portfolio considering ancillary service of frequency regulation. Taking advantage of the flexibility of DHS, the combined entity of WPP and DHS can provide both energy and ancillary service. Since short-term reserves are significant to provide the security of the power system, they have a significant price tag. Tapping into that potential by providing short-term reserves to the IEHS can be an excellent business case for the WPP-DHS portfolio, especially because the flexibility of the HPs in the district heating system can be utilized to provide frequency regulation. Case studies verify the efficiency of the proposed models and methods.