| Title |
Research on the Structure of a Bidding System for Renewable Energy Operators in Jeju Island |
| Authors |
심상우(Sangwoo Shim) ; 김동현(Dong-Hyun Tony Kim) ; 황재홍(Jaehong Whang) ; 서정우(Jungwoo Seo) ; 임기훈(Kihoon Lim) ; 노재형(Jaehyung Roh) ; 박종배(Jong-Bae Park) |
| DOI |
https://doi.org/10.5370/KIEE.2024.73.7.1119 |
| Keywords |
Real-Time Market; Two-Settlement; Imbalance Penalty; SMP Forecasting; Value at Risk |
| Abstract |
This paper suggests the necessity of establishing a bidding system for renewable energy operators to participate in the Jeju New electricity market. The introduction of renewable energy bidding, real-time market, and imbalance penalties will create risks.
Therefore, it is essential to establish a bidding system that considers risks. The system required for this includes the Jeju SMP and power generation forecasting module, and the Day-Ahead market bidding strategy module. The forecasting module can be configured through machine learning or deep learning, and the Day-Ahead market bidding strategy module is configured based on Value at Risk to reflect the risk. The Day-Ahead market bidding strategy module receives the result of the remaining two modules as input and determines Day-Ahead market bidding amount. The rule changes to be introduced in the Jeju New Electric Power Market will be extended to the land, and accordingly, research for the bidding system establishment is essential. |