Energy management considering multiple power markets and microgrid storage

Abstract

Data availability statement: The raw data supporting the conclusions of this article will be made available by the authors, without undue reservation.Copyright © 2023 Yan, Li, Lai, Zhao, Zobaa, Lai and Shi. Storage response highly influences the operational cost of the microgrid. Power market has provided a selection of tariffs which increases difficulties for customer choice. New market entry and traditional tariffs exist together to form a complex market environment. Facing this situation, this paper establishes a complex microgrid market environment with four types of tariffs. By modelling response of electric storage and cold storage in microgrid, a non-linear mixed integer optimization problem is formulated. Numerical studies are implemented for model verification and market performance analysis. Results show that behavior trade-off occurs on different market entries on total cost optimization for microgrid operation.National Natural Science Foundation of China (62206062); Guangdong Basic and Applied Basic Research Foundation (2021A1515010742)