Abstract
With the development of energy markets and the introduction of renewable energy certificates (RECs), a regional integrated energy system (RIES) may participate in an energy wholesale market flexibly. In this paper, a bilevel optimization problem is formulated to determine the optimal management strategies of an RIES, including trading in the markets of electricity, natural gas, and RECs. In the bilevel model, an energy supplier (ES) purchases energy from energy wholesale markets and sets retail prices of energy products at the upper level to maximize its profit. At the lower level, various user aggregators (UAs) determine individual energy consumption strategies. The clearing prices of electricity, natural gas, and REC markets are determined asynchronously at the lower level. This nonlinear problem is then transformed into a mixed-integer linear programming problem using the incremental method and strong duality theory, which enables the problem to be solved efficiently. Finally, case studies are carried out to demonstrate the feasibility and effectiveness of the proposed method and the impacts of the RECs.
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Data Availability Statement
All data, models, and code generated or used during the study appear in the published article.
Acknowledgments
This work is jointly supported by the National Natural Science Foundation of China (U1910216) and the Science and Technology Project from the State Grid Zhejiang Electric Power Company (No. 5211JY200001).
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Published In
Journal of Energy Engineering
Volume 147 • Issue 1 • February 2021
Copyright
© 2020 American Society of Civil Engineers.
History
Received: Jun 27, 2020
Accepted: Aug 5, 2020
Published online: Oct 19, 2020
Published in print: Feb 1, 2021
Discussion open until: Mar 19, 2021
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