Using a Bi-Level Optimization Model for Assessing the Impact of Demand Forecast Uncertainty on the Maximum Profit of Power Distribution Companies Owning Energy Storage Systems

https://doi.org/10.31130/ud-jst.2022.107E

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Author

  • Dang Vu Kien
    School of Electrical and Electronic Engineering, Hanoi University of Science and Technology and Institute of Energy, Vietnam
    Le Thi Minh Chau
    School of Electrical and Electronic Engineering, Hanoi University of Science and Technology, Vietnam
    Pham Quang Phuong
    School of Electrical and Electronic Engineering, Hanoi University of Science and Technology, Vietnam
    Pham Nang Van
    School of Electrical and Electronic Engineering, Hanoi University of Science and Technology, Vietnam

Từ khóa:

Bi-level optimization
energy storage systems
the demand forecast uncertainty
power distribution companies
electricity markets

Tóm tắt

This paper proposes a bi-level optimization model to maximize the net revenue of a power distribution company owning energy storage systems. Furthermore, the proposed model also takes into account the uncertainty of load forecast based on a set of multiple scenarios in order to assess its impact on the maximum net revenue of the power distribution company. This bi-level optimization model is transformed into the single-level mixed-integer linear programming model by using the Karush-Kuhn-Tucker optimality conditions and strong duality theorem. This single-level optimization formulation can be effectively solved by using standard commercial solvers such as CPLEX. The proposed model and the effects of the load forecast uncertainty on the net revenue of the power distribution company are validated and analyzed on an IEEE 24-bus meshed transmission grid.

Tài liệu tham khảo

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Jun 30, 2022
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Cách trích dẫn
Kien, D. V., L. T. M. Chau, P. Q. Phuong, và P. N. Van. “Using a Bi-Level Optimization Model for Assessing the Impact of Demand Forecast Uncertainty on the Maximum Profit of Power Distribution Companies Owning Energy Storage Systems”. Tạp Chí Khoa học Và Công nghệ - Đại học Đà Nẵng, vol 20, số p.h 6.2, Tháng Sáu 2022, tr 69-76, doi:10.31130/ud-jst.2022.107E.

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