Optimal bidding strategy for an energy hub in energy market

Vahid Davatgaran, Mohsen Saniei and Seyed Saeidollah Mortazavi

Energy, 2018, vol. 148, issue C, 482-493

Abstract: An energy hub, as an active element in smart distribution grid, can participate in the day-ahead market via submitting bids to maximize its profit. The multi-input and multi-output energy vectors make energy hub different from other active elements. In this paper, a comprehensive optimal bidding strategy for an energy hub is modeled. The proposed model enables the energy hub to benefit from day-ahead and real-time markets. Stochastic optimization is proposed in this strategy to handle several market uncertainties consisting of day-ahead market prices, real-time market prices, and wind generation. The model takes advantages of multi-inputs vector of energy hub to submit the optimal bids including electricity selling/buying and optimizes the cost. Moreover, it handles the coupling between different types of loads. The problem is modeled as a mixed integer linear program. Numerical simulations evaluate the proposed model.

Keywords: Energy hub; Bidding strategy; Stochastic optimization; Prosumer (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (42)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:148:y:2018:i:c:p:482-493

DOI: 10.1016/j.energy.2018.01.174

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