Economic Enhancement of Wind–Thermal–Hydro System Considering Imbalance Cost in Deregulated Power Market

Studying the property of combination renewable energy sources in existing power systems is great importance, and especially case deregulated systems. The uncertainty largest barrier to integrating renewable-energy-producing units into electrical infrastructure. Due its uncertainty, wind an system requires extra consideration. In this work, impacts farm (WF) integration a pumped hydroelectric storage (PHES) on electric losses, voltage profiles, generation costs, economy market were studied. A comparative study was performed determine impact regulated environments. Four locations India chosen at random for we used real-time statistics actual speeds (AWSs) forecasted (FWSs) each location. To economy, surplus charge rates deficit developed evaluate imbalance cost resulting from mismatch between predicted speeds. Considering effect cost, profit/day varies by average 1.6% Because reorganization system, consumers constantly look reliable affordable that also efficient. As result, security limit may be breached, or run dangerous state. Lastly, paper, economic risk analysis presented with help heuristic algorithms (i.e., artificial bee colony algorithm (ABC) moth–flame optimization (MFO)), along sequential quadratic programming (SQP), way which PHES compensate deviation WF electricity presented. value (VaR) conditional (CVaR) as tools. According increase generation, improves. results show that, increases three times, there improvement coefficient values 1%. modified IEEE 14-bus test validation entire work.