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Publications

Publications by CPES

2020

A strategy for electricity buyers in futures markets

Authors
Monteiro, C; Ramirez Rosado, IJ; Fernandez Jimenez, LA;

Publication
E3S Web of Conferences

Abstract
This paper presents an original trading strategy for electricity buyers in futures markets. The strategy applies a medium-term electricity price forecasting model to predict the monthly average spot price which is used to evaluate the Risk Premium for a physical delivery under a monthly electricity futures contract. The proposed trading strategy aims to provide an advantage relatively to the traditional strategy of electricity buyers (used as benchmark), anticipating the good/wrong decision of buying electricity in the futures market instead in the day-ahead market. The mid-term monthly average spot price forecasting model, which supports the trading strategy, uses only information available from futures and spot markets at the decision moment. Both the new trading strategy and the monthly average spot price forecasting model, proposed in this paper, have been successfully tested with historical data of the Iberian Electricity Market (MIBEL), although they could be applied to other electricity markets. © 2020 The Authors, published by EDP Sciences.

2020

Predictive Trading Strategy for Physical Electricity Futures

Authors
Monteiro, C; Alfredo Fernandez Jimenez, LA; Ramirez Rosado, IJ;

Publication
ENERGIES

Abstract
This article presents an original predictive strategy, based on a new mid-term forecasting model, to be used for trading physical electricity futures. The forecasting model is used to predict the average spot price, which is used to estimate the Risk Premium corresponding to electricity futures trade operations with a physical delivery. A feed-forward neural network trained with the extreme learning machine algorithm is used as the initial implementation of the forecasting model. The predictive strategy and the forecasting model only need information available from electricity derivatives and spot markets at the time of negotiation. In this paper, the predictive trading strategy has been applied successfully to the Iberian Electricity Market (MIBEL). The forecasting model was applied for the six types of maturities available for monthly futures in the MIBEL, from 1 to 6 months ahead. The forecasting model was trained with MIBEL price data corresponding to 44 months and the performances of the forecasting model and of the predictive strategy were tested with data corresponding to a further 12 months. Furthermore, a simpler forecasting model and three benchmark trading strategies are also presented and evaluated using the Risk Premium in the testing period, for comparative purposes. The results prove the advantages of the predictive strategy, even using the simpler forecasting model, which showed improvements over the conventional benchmark trading strategy, evincing an interesting hedging potential for electricity futures trading.

2020

Transition toward blockchain-based electricity trading markets

Authors
Lotfi, M; Monteiro, C; Shafie-khah, M; Catalão, JP;

Publication
Blockchain-based Smart Grids

Abstract

2020

Imbalance-Voltage Mitigation in an Inverter-Based Distributed Generation System Using a Minimum Current-Based Control Strategy

Authors
Ghahderijani, MM; Camacho, A; Moreira, C; Castilla, M; Garcia de Vicuna, LG;

Publication
IEEE TRANSACTIONS ON POWER DELIVERY

Abstract
Voltage imbalances are one of the most severe challenges in electrical networks, which negatively affect their loads and other connected equipment. This paper proposes a voltage support control strategy to mitigate the voltage imbalance in inverter-based low voltage distribution networks. The control scheme is derived taking in mind the following control objectives: a) to increase the positive sequence voltage as much as possible, b) to decrease the negative sequence voltage as much as possible, c) to inject the power generated by the primary source, and d) to minimize the output current of the inverter. The innovative contribution of the proposed solution is based on the design of a control algorithm that meets the aforementioned objectives without resorting to communications with other grid components. The theoretical results are experimentally validated by selected tests on a laboratory setup with X/R ratio close to one.

2020

Hierarchical optimisation strategy for energy scheduling and volt/var control in autonomous clusters of microgrids

Authors
Castro, MV; Moreira, C; Carvalho, LM;

Publication
IET RENEWABLE POWER GENERATION

Abstract
This study proposes a hierarchical optimisation strategy for the energy dispatch and volt/var control problem of a photovoltaic-battery microgrid cluster (MGC) operating autonomously. The proposed approach takes advantage of the decentralised control architecture existing in multi-microgrids (MMGs) framework by distributing the management responsibilities between the microgrid central controllers (MGCCs) and the central autonomous management controller (CAMC). In the first stage, the optimisation strategy solves a multi-temporal active power scheduling problem for the MGC based on consumption and generation forecasts. In the second stage, the reactive power and volt/var control are addressed by taking into account the medium-voltage (MV) and low-voltage levels independently. For this purpose, each MGCC computes the V(Q) capability area of operation at the boundary bus with the MV grid. Then, the CAMC performs an optimal power flow at the MV level for each time step, whose results at the boundary bus are considered in the last stage to schedule reactive power at the MGCC level. The effectiveness of the proposed strategy is demonstrated in a cluster of three microgrids. It keeps the modularity, interoperability and scalability characteristics of the MMG concept by clearly defining the roles and the information to be exchanged between the CAMC and the MGCC.

2020

A convex model for induction motor starting transients imbedded in an OPF-based optimization problem

Authors
Sekhavatmanesh, H; Cherkaoui, R; Rodrigues, J; Moreira, CL; Lopes, JAP;

Publication
ELECTRIC POWER SYSTEMS RESEARCH

Abstract
Large horsepower induction motors play a critical role in the operation of industrial facilities. In this respect, the distribution network operators dedicate a high priority to the operational safety of these motor loads. In this paper, the induction motor starting is modeled analytically and in a semi-static fashion. This model is imbedded in a convex distribution system restoration problem. In this optimization problem, it is aimed to determine the optimal status of static loads and the optimal dispatch of distributed generators such that: a) the induction motors can be reaccelerated in a safe way and, b) the total power of static loads that cannot be supplied before the motor energization, is minimized. The proposed optimization problem is applied in the case of a distribution network under different simulation scenarios. The feasibility and accuracy of the obtained results are validated using a) off-line time-domain simulations, and b) Power Hardware-In-the-Loop experiments.

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