Financial Risk-Oriented Analyses in the Scheduling of Multi-Energy Microgrids

Nader Javani (), Pouya Salyani (), Kazem Zare () and Ali Rifat Bognuegri ()
Additional contact information
Nader Javani: Faculty of Mechanical Engineering, Yildiz Technical University, Istanbul
Pouya Salyani: Faculty of Electrical Engineering, University of Tabriz
Kazem Zare: Faculty of Electrical Engineering, University of Tabriz
Ali Rifat Bognuegri: Clean Energy Technologies Institute / Department of Electrical Engineering, Yildiz Technical University, Istanbul

No 14616433, Proceedings of Economics and Finance Conferences from International Institute of Social and Economic Sciences

Abstract: The present study investigates a multi-objective strategy for scheduling Multi-Energy Microgrids (MEMs) with Power to X (P2X) conversion technology in advance. The P2X technology serves as the fundamental framework for these microgrids, incorporating multiple energy conversion systems and diverse energy storage technologies to optimize efficiency. The primary objective is to reduce operational expenses, mitigate risks, and decrease carbon emissions. Two risk management tools, namely Conditional Value at Risk (CVaR) and a robust approach, are recommended to address the financial risks involved in MEM's scheduling. The study results for the considered microgrid imply that an operator's adoption of a risk-neutral approach necessitates procuring a substantial portion of power from the day-ahead electricity market. In addition, implementing a risk-averse strategy by a MEM operator results in diminished participation in the energy market through reduced bidding and an increased overall presence in the real-time market.

Keywords: P2X conversion; MEM; CVaR; Robust; Emission; Multi-objective (search for similar items in EconPapers)
Pages: 4 pages
New Economics Papers: this item is included in nep-ene and nep-env
References: Add references at CitEc
Citations:

Published in Proceedings of the Proceedings of the International Conference on Economics, Finance & Business, Lisbon, Nov -0001, pages 190-193

Downloads: (external link)
https://iises.net/proceedings/international-confer ... 47&iid=017&rid=16433 First version, 0000

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:sek:iefpro:14616433

Access Statistics for this paper

More papers in Proceedings of Economics and Finance Conferences from International Institute of Social and Economic Sciences
Bibliographic data for series maintained by Klara Cermakova ().