TY - JOUR
T1 - Stochastic Security and Risk-Constrained Scheduling for an Autonomous Microgrid with Demand Response and Renewable Energy Resources
AU - Vahedipour-Dahraie, Mostafa
AU - Rashidizadeh-Kermani, Homa
AU - Najafi, Hamid Reza
AU - Anvari-Moghaddam, Amjad
AU - Guerrero, Josep M.
PY - 2017/12
Y1 - 2017/12
N2 - Increasing penetration of intermittent renewable energy sources and the development of advanced information give rise to questions on how responsive loads can be managed to optimise the use of resources and assets. In this context, demand response as a way for modifying the consumption pattern of customers can be effectively applied to balance the demand and supply in electricity networks. This study presents a novel stochastic model from a microgrid (MG) operator perspective for energy and reserve scheduling considering risk management strategy. It is assumed that the MG operator can procure energy from various sources, including local generating units and demand-side resources to serve the customers. The operator sells electricity to customers under real-time pricing scheme and the customers response to electricity prices by adjusting their loads to reduce consumption costs. The objective is to determine the optimal scheduling with considering risk aversion and system frequency security to maximise the expected profit of operator. To deal with various uncertainties, a riskconstrained two-stage stochastic programming model is proposed where the risk aversion of MG operator is modelled using conditional value at risk method. Extensive numerical results are shown to demonstrate the effectiveness of the proposed framework.
AB - Increasing penetration of intermittent renewable energy sources and the development of advanced information give rise to questions on how responsive loads can be managed to optimise the use of resources and assets. In this context, demand response as a way for modifying the consumption pattern of customers can be effectively applied to balance the demand and supply in electricity networks. This study presents a novel stochastic model from a microgrid (MG) operator perspective for energy and reserve scheduling considering risk management strategy. It is assumed that the MG operator can procure energy from various sources, including local generating units and demand-side resources to serve the customers. The operator sells electricity to customers under real-time pricing scheme and the customers response to electricity prices by adjusting their loads to reduce consumption costs. The objective is to determine the optimal scheduling with considering risk aversion and system frequency security to maximise the expected profit of operator. To deal with various uncertainties, a riskconstrained two-stage stochastic programming model is proposed where the risk aversion of MG operator is modelled using conditional value at risk method. Extensive numerical results are shown to demonstrate the effectiveness of the proposed framework.
UR - http://www.scopus.com/inward/record.url?scp=85032306335&partnerID=8YFLogxK
U2 - 10.1049/iet-rpg.2017.0168
DO - 10.1049/iet-rpg.2017.0168
M3 - Journal article
AN - SCOPUS:85032306335
SN - 1752-1416
VL - 11
SP - 1812
EP - 1821
JO - IET Renewable Power Generation
JF - IET Renewable Power Generation
IS - 14
ER -