A novel hybrid two-stage framework for flexible bidding strategy of reconfigurable micro-grid in day-ahead and real-time markets

Mirzaei, Mohammad Amin, Hemmati, Mohammad, Zare, Kazem, Abapour, Mehdi, Mohammadi-Ivatloo, Behnam, Marzband, Mousa and Anvari-Moghaddam, Amjad (2020) A novel hybrid two-stage framework for flexible bidding strategy of reconfigurable micro-grid in day-ahead and real-time markets. International Journal of Electrical Power & Energy Systems, 123. p. 106293. ISSN 0142-0615

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Official URL: https://doi.org/10.1016/j.ijepes.2020.106293

Abstract

Microgrids are going to be used in future intelligent grids as a promising technology to enable widespread utilization of renewable energy sources in a highly efficient and reliable manner. It is known that reconfiguration of micro-grids, using tie-line and sectionalizing switches, can provide more operational flexibility. Additionally, coordinated scheduling of flexible loads and energy storage systems can play an important role in the optimal scheduling of micro-grids; thus lowering the costs. This paper proposes an optimal bidding strategy for a micro-grid in day-ahead and real-time markets, based on AC power flow model, considering the hourly reconfiguration of the micro-grid. Fuel cell-based hydrogen energy storage and multiple shiftable loads are considered in the proposed method according to the load’s activity schedule. A reconfigurable micro-grid incorporates energy production and consumption of its local components to trade power in both day-ahead and real-time markets in order to maximize its profit as a private entity. The bidding problem faces issues due to the high level of uncertainties, consisting of wind power generation and electric load as well as variations of market prices. A hybrid two-stage bi-level optimization model is proposed to manage such uncertainties so that wind power, load demand, and day-ahead market prices are handled through scenario-based stochastic programming, and an information gap decision theory is applied to model the uncertainty of real-time market prices under two strategies, namely risk-seeker and risk-averse. The numerical simulation results confirm the effectiveness of the proposed model.

Item Type: Article
Uncontrolled Keywords: Two-stage stochastic optimization, Information gap decision theory, Reconfigurable microgrid, Demand response, Hydrogen energy storage, Hybrid optimization approach
Subjects: H600 Electronic and Electrical Engineering
Department: Faculties > Engineering and Environment > Mathematics, Physics and Electrical Engineering
Depositing User: Elena Carlaw
Date Deposited: 14 Jul 2020 16:36
Last Modified: 14 Jul 2020 16:45
URI: http://nrl.northumbria.ac.uk/id/eprint/43773

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