TY - JOUR
T1 - A wind energy supplier bidding strategy using combined ega-inspired hpsoifa optimizer and deep learning predictor
AU - Zhang, Rongquan
AU - Aziz, Saddam
AU - Farooq, Muhammad Umar
AU - Hasan, Kazi Nazmul
AU - Mohammed, Nabil
AU - Ahmad, Sadiq
AU - Ibadah, Nisrine
N1 - Funding Information:
Funding: This work is supported by Foundation of Shenzhen Science and Technology Committee, worth of project funding by Govt of China.
Publisher Copyright:
© 2021 by the authors. Licensee MDPI, Basel, Switzerland.
Copyright:
Copyright 2021 Elsevier B.V., All rights reserved.
PY - 2021/5/25
Y1 - 2021/5/25
N2 - As the integration of large-scale wind energy is increasing into the electricity grids, the role of wind energy suppliers should be investigated as a price-maker as their participation would influence the locational marginal price (LMP) of electricity. The existing bidding strategies for a wind energy supplier faces limitations with respect to the potential cooperation, other competitors’ bidding behavior, network loss, and uncertainty of wind production (WP) and balancing market price (BMP). Hence, to solve these problems, a novel bidding strategy (BS) for a wind power supplier as a price-maker has been proposed in this paper. The new algorithm, called the evolutionary game approach (EGA) inspired hybrid particle swarm optimization and improved firefly algorithm (HPSOIFA), has been proposed to handle the bidding issue. The bidding behavior of power suppliers, including conventional power suppliers, has been encoded as one species to obtain the equilibrium where the EGA can explore dynamically reasonable behavior changes of the opponents. Each species of behavior change has been exploited by the HPSOIFA to improve the optimization solutions. Moreover, a deep learning algorithm, namely deep belief network, has been implemented for improving the accuracy of the forecasting results considering the WP and BMP, and the uncertainty revealed in the WP and BMP has been modeled by quantile regression (QR). Finally, the Shapley value (SV) has been calculated to estimate the benefits of cooperative power suppliers. The presented case studies have verified that the proposed algorithm and the established bidding strategy exhibit higher effectiveness.
AB - As the integration of large-scale wind energy is increasing into the electricity grids, the role of wind energy suppliers should be investigated as a price-maker as their participation would influence the locational marginal price (LMP) of electricity. The existing bidding strategies for a wind energy supplier faces limitations with respect to the potential cooperation, other competitors’ bidding behavior, network loss, and uncertainty of wind production (WP) and balancing market price (BMP). Hence, to solve these problems, a novel bidding strategy (BS) for a wind power supplier as a price-maker has been proposed in this paper. The new algorithm, called the evolutionary game approach (EGA) inspired hybrid particle swarm optimization and improved firefly algorithm (HPSOIFA), has been proposed to handle the bidding issue. The bidding behavior of power suppliers, including conventional power suppliers, has been encoded as one species to obtain the equilibrium where the EGA can explore dynamically reasonable behavior changes of the opponents. Each species of behavior change has been exploited by the HPSOIFA to improve the optimization solutions. Moreover, a deep learning algorithm, namely deep belief network, has been implemented for improving the accuracy of the forecasting results considering the WP and BMP, and the uncertainty revealed in the WP and BMP has been modeled by quantile regression (QR). Finally, the Shapley value (SV) has been calculated to estimate the benefits of cooperative power suppliers. The presented case studies have verified that the proposed algorithm and the established bidding strategy exhibit higher effectiveness.
KW - Cooperation
KW - Deep belief network
KW - Hybrid optimization
KW - Network loss
KW - Wind energy bidding
UR - http://www.scopus.com/inward/record.url?scp=85107451318&partnerID=8YFLogxK
U2 - 10.3390/en14113059
DO - 10.3390/en14113059
M3 - Article
AN - SCOPUS:85107451318
VL - 14
JO - Energies
JF - Energies
SN - 1996-1073
IS - 11
M1 - 3059
ER -