Optimal Management of a Wind Power Plant with Storage Capacity
We consider the problem of a wind producer who has access to the spot and intraday electricity markets and has the possibility of partially storing the produced energy using a battery storage facility. The aim of the producer is to maximize the expected gain of selling in the market the energy produced during a 24-h period. We propose and calibrate statistical models for the power production and the intraday electricity price, and compute the optimal strategy of the producer via dynamic programming.
KeywordsWind power generation Battery storage Intraday electricity market Stochastic control
This research was supported by the ANR project FOREWER (ANR-14-CE05-0028). The research of Peter Tankov has also benefited the support of the FIME Research Initiative. We are grateful to N. Girard (Maïa Eolis/Engie Green) and Philippe Vassilopoulos (EPEX Spot) for providing the data used in this study.
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