Cooperative Game Operation Strategy of a Hydropower-Photovoltaic-Pumped Storage System in the Electricity Market

With the development of photovoltaic (PV) power and electricity markets, PV power station is increasingly integrated into the power grid for participating in the electricity markets. Each station participates in the electricity market alone can get a high profit, but actually, they can obtain an even higher profit through cooperation. Based on cooperative game theory, this study investigates a joint operation framework, which is composed of a hydropower station, a PV station and a pumped storage station, to participate in electricity market. The objective function is to improve the profit of each station and their overall profit through cooperation. The feasibility of the joint operation station is verified by comparing with their independent operation. The results show that when they cooperate with each other, the profits of a hydropower station, a PV station and a pumped storage station can increase by 2.67%, 79.77% and 106.45%, respectively. Also, no PV power is abandoned under the condition of the cooperation operation.