Open AccessAssessment of electricity price uncertainty impact on the operation of multi‐carrier energy systems
Author(s) -
Zarif Mahdi,
Khaleghi Sadegh,
Javidi Mohammad Hossein
Publication year - 2015
Publication title -
iet generation, transmission and distribution
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.92
H-Index - 110
eISSN - 1751-8695
pISSN - 1751-8687
DOI - 10.1049/iet-gtd.2015.0837
Subject(s) - energy carrier , electricity , monte carlo method , profit (economics) , computer science , electric power system , electricity price , electricity market , variance (accounting) , unit price , energy (signal processing) , operations research , reliability engineering , mathematical optimization , power (physics) , economics , engineering , microeconomics , electrical engineering , mathematics , statistics , physics , accounting , quantum mechanics
Today, there are serious trends to use all potentials of the available energy carriers through the concept of energy hubs. However, different types of inherent uncertainties in these systems are the main challenge for utilisation of energy hubs. Furthermore, a framework is presented to analyse the multi‐carrier energy systems under five zones of uncertainty in order to achieve the maximum electricity profits. For example, it is shown that the profit of the system is <8.5% despite the 50% of uncertainty in the state without combined heat and power (CHP) while system earns a profit of at least 12.8 in the state with CHP. The Monte Carlo simulation method has used to generate different scenarios. The proposed design methodology decides on which model is suitable for hub. It includes detailed models for transducer performance and hub using the mean and variance of profits and assess of their impact individually. The model also considers information on energy products used as per‐unit form. Price and electricity markets have intended as in the day‐ahead and real‐time pricing with three types of tariffs during the day.