A Joint Scheduling Optimization Strategy for Wind and Pumped Storage Systems Considering Imbalance Cost & Grid Frequency in Real-Time Competitive Power Market

This paper presents a simple and efficient operating strategy for the operation of Pumped Storage Hydro (PSH) plant so as to maximize the profit of the Wind-Thermal-PSH hybrid plant with considering the grid frequency (f) and current energy level of the PSH plant. The wind speed is predicted for a day-ahead market and with this predicted value of wind speed the wind plants are committed to supply the demand. If there is a difference between the predicted and actual wind power output, the PSH is operated in order to reduce this difference and trying to minimize the effect of imbalance cost, which is occurred due to the mismatch between the actual and predicted data. Thus the combined operation of wind, thermal and PSH helps to reduce the uncertainty of wind power in economic manner under completely deregulated power market. Two new energy levels (Eopt and Elow) for pumped storage have been also incorporated in this work to maximize the profit and revenue of the system. The proposed strategy is implemented using MATLAB Interior Point Solver (MIPS) to solve the optimal power flow problem. The implementation has been done on modified IEEE 30 bus system. The results of proposed approach have been compared with an existing strategy to show the effectiveness of the proposed approach.