 Optimal strategy of electricity and natural gas aggregators in the energy and balance marketsMeysam Khojasteh, Pedro Faria, Fernando Lezama and Zita Vale Energy, 2022, vol. 257, issue C Abstract: This paper presents a stochastic two-stage model for energy aggregators (EAs) in the energy and balancing markets to supply electricity and natural gas to end-users equipped with combined heat and power (CHP) units. The suggested model takes into account the battery energy storage (BES) as a self-generating unit of EA. The upper and lower subproblems determine the optimal energy supply strategy of EA and consumption of consumers, respectively. In the lower subproblem, the McCormick relaxation is used to linearize the cost function of the CHP unit. To solve the proposed model, the two-stage problem is transformed into a linear single-stage problem using the KKT conditions of the lower subproblem, the Big M method, and the strong duality theory. The performance and efficiency of the proposed model are evaluated using a case study and three scenarios. According to the simulation results, adding CHP units to the energy-scheduling problem of BES-owned aggregators increases the profit of EA by 5.96% and decreases the cost of consumers by 1.57%. Keywords: Balance market; Battery energy storage; Combined heat and power; Energy aggregator (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:257:y:2022:i:c:s0360544222016565 DOI: 10.1016/j.energy.2022.124753 Access Statistics for this article Energy is currently edited by Henrik Lund and Mark J. Kaiser More articles in Energy from Elsevier |
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