Title

A Stochastic Hybrid Method To Forecast Operating Reserve: Comparison Of Fuzzy And Classical Set Theory

Keywords

fuzzy approach; Gray model; Markov chain model; operating reserve

Abstract

Accurate operating reserve forecasting helps the system operator to make decisions contributing to the security of the power system. It also helps market participants to adopt proper strategic bidding for the day-ahead ancillary services market to enhance their financial profit. This article proposes a stochastic hybrid method to forecast the operating reserve requirement in day-ahead electricity markets. At the first stage, based on using a modified Gray model, the day-ahead operating reserve is forecasted. In order to improve the accuracy of the operating reserve forecasting, at the next stage, a Markov chain model is used to predict the forecasting error of the Gray model. These two models are linked to each other using two different approaches-classical and fuzzy. The proposed approach is verified by the historical data of the operating reserve for spring and autumn seasons in the Khorasan Electricity Network located in Khorasan Province, Iran. © 2013 Taylor and Francis Group, LLC.

Publication Date

5-15-2013

Publication Title

Electric Power Components and Systems

Volume

41

Issue

8

Number of Pages

806-823

Document Type

Article

Personal Identifier

scopus

DOI Link

https://doi.org/10.1080/15325008.2013.769034

Socpus ID

84877676138 (Scopus)

Source API URL

https://api.elsevier.com/content/abstract/scopus_id/84877676138

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