Risk-averse market clearing for coupled electricity, natural gas and district heating system

• Published in: CSEE Journal of Power and Energy Systems Vol. 5; no. 2; pp. 240 - 248
• Main Authors: Wang, Haibing, Wang, Chengmin, Khan, Muhammad Qasim, Zhang, Gengwu, Xie, Ning
• Format: Journal Article
• Language: English
• Published: Beijing Chinese Society for Electrical Engineering Journal of Power and Energy Systems 01.06.2019; China electric power research institute
• Subjects: Clearing; Computer simulation; District heating; Energy efficiency; Energy industry; Energy security; Integrated energy systems; Natural gas; Risk; Risk aversion; Uncertainty; Wind power
• ISSN: 2096-0042; 2096-0042
• DOI: 10.17775/CSEEJPES.2019.00280

Multiple energy carriers can be coupled as an Integrated Energy System (IES) through interconnection technologies. Unexpected risks will be transferred with the growing coupling of energy systems, mainly stemming from the uncertainties in different energy sectors. It is imperative to coordinate the operation of different energy systems to improve energy efficiency and ensure energy security. With the close integration of different energy systems, it is necessary to couple these different energy markets to achieve the holistic energy supply economy. On the other hand, uncertainties in the energy systems will bring the financial risk for the operator of IES. A risk-averse stochastic market clearing model for the IES is proposed to study the operating strategy aiming at minimizing the operation cost. While the financial risk imposed by the wind power uncertainties is restricted to a predefined level. Simulations results are provided to verify that the proposed model can improve market efficiency and handle the trade-off between cost and risk.