Modeling Uncertainty Energy Price Based on Interval Optimization and Energy Management in the Electrical Grid

Julio César Machaca Mamani (), Freddy Carrasco-Choque, Edith Fernanda Paredes-Calatayud, Helfer Cusilayme-Barrantes and Rocío Cahuana-Lipa
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Julio César Machaca Mamani: National University José María Arguedas
Freddy Carrasco-Choque: Frontera National University of Sullana
Edith Fernanda Paredes-Calatayud: National Amazonian University of Madre de Dios
Helfer Cusilayme-Barrantes: National Amazonian University of Madre de Dios
Rocío Cahuana-Lipa: Ciencias de la Salud, Universidad Tecnológica de los Andes

SN Operations Research Forum, 2024, vol. 5, issue 1, 1-17

Abstract: Abstract Energy providers are faced with the challenge of effectively managing electrical energy systems amidst uncertainties. This study focuses on the management and dispatch of energy demand in the electricity microgrid, employing an interval optimization strategy to address electricity price uncertainties. The demand response program (DRP) incentive modeling is utilized to implement demand dispatch. To mitigate the impact of electricity price uncertainties, an incentive modeling approach based on offering reduced electricity demand during peak periods is proposed. The interval optimization approach is employed to minimize operational costs, with the epsilon constraint-based fuzzy method utilized to solve and address the problem. The effectiveness of the proposed modeling approach under conditions of uncertainty is demonstrated through the use of the microgrid in various case studies and numeric simulations. The participation of the DRP leads to minimizing the average and deviation costs by 9.5% and 6.5% in comparison with non-participation.

Keywords: Electricity microgrid; Interval optimization strategy; Electricity price uncertainties; Epsilon constraint method (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/s43069-023-00289-2

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