Uncertainty mitigation and maximizing profit in energy market by coordinated trade of wind and gas thermal unit

With the advent of wind farms in electricity energy markets, operators faced new opportunities and new challenges in power energy markets. Although environmental benefits of renewable energy resources have encouraged government to use them, high cost, uncertainties and unpredictable power output of these turbines have led to several problems for operator. Due to the uncertainties and imbalance penalties trading wind energy in power market have high risks. In order to facilitate entrance of wind turbines into electricity market, in this paper we propose a new framework in which a wind turbine and gas thermal unit bid to the market as one entity. This approach not only results in higher benefit for the coordinated unit, but it also mitigates uncertainties. IEEE 30-bus network are used as test system and wind unit with 20 uncertainties scenarios is modeled. The simulation result in test system shows, not only benefit of coordinated unit increased, but also market energy price in equilibrium point decreased and uncertainties in all scenarios mitigated.