OPTIMIZATION OF A GREEN ENERGY PORTFOLIO IN A RETAIL ELECTRICITY MARKET CONSIDERING CONSUMERS’ ELASTICITY

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GOLMOHAMADI HESSAM; KEYPOUR REZA; HASSANPOUR ARMAN

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Journal: TABRIZ JOURNAL OF ELECTRICAL ENGINEERING Year:2016 | Volume:46 | Issue:1 (75) Page(s): 287-301

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Information Journal Paper

Title

OPTIMIZATION OF A GREEN ENERGY PORTFOLIO IN A RETAIL ELECTRICITY MARKET CONSIDERING CONSUMERS’ ELASTICITY

Author(s)

GOLMOHAMADI HESSAM | KEYPOUR REZA | HASSANPOUR ARMAN | Issue Writer Certificate

Keywords

STOCHASTIC PROGRAMMINGQ1

RISKQ2

ENERGY PORTFOLIOQ2

UNCERTAINTYQ1

RETAILERQ2

Abstract

In this paper, a novel approach is proposed to optimize a green ENERGY PORTFOLIO in a retail electricity market. To achieve this goal, uncertainties associated with the electricity price and energy extracted from wind and solar generating units are considered as random variables through a bi-level STOCHASTIC PROGRAMMING. From RETAILER’s prospective, different kinds of contracts, including forward contracts and contracts based on block-index pricing methods, are proposed to enable consumers and RETAILERs to manage RISK and profit in a competitive electricity market. To optimize green ENERGY PORTFOLIO, uncertainties associated with the problem are modeled by using a time series, Auto Regressive Integrated Moving Average (ARIMA) approach and a Monte-Carlo simulation scheme. RISK and elasticity analysis make a golden opportunity for RETAILERs and consumers to strike a right balance between RISK and profit through their participation in electricity market. At the end, numerical examples and simulation results show the applicability of the proposed approach in an electricity retail market.

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APA: Copy

GOLMOHAMADI, HESSAM, KEYPOUR, REZA, & HASSANPOUR, ARMAN. (2016). OPTIMIZATION OF A GREEN ENERGY PORTFOLIO IN A RETAIL ELECTRICITY MARKET CONSIDERING CONSUMERS’ ELASTICITY. TABRIZ JOURNAL OF ELECTRICAL ENGINEERING, 46(1 (75)), 287-301. SID. https://sid.ir/paper/256591/en

Vancouver: Copy

GOLMOHAMADI HESSAM, KEYPOUR REZA, HASSANPOUR ARMAN. OPTIMIZATION OF A GREEN ENERGY PORTFOLIO IN A RETAIL ELECTRICITY MARKET CONSIDERING CONSUMERS’ ELASTICITY. TABRIZ JOURNAL OF ELECTRICAL ENGINEERING[Internet]. 2016;46(1 (75)):287-301. Available from: https://sid.ir/paper/256591/en

IEEE: Copy

HESSAM GOLMOHAMADI, REZA KEYPOUR, and ARMAN HASSANPOUR, “OPTIMIZATION OF A GREEN ENERGY PORTFOLIO IN A RETAIL ELECTRICITY MARKET CONSIDERING CONSUMERS’ ELASTICITY,” TABRIZ JOURNAL OF ELECTRICAL ENGINEERING, vol. 46, no. 1 (75), pp. 287–301, 2016, [Online]. Available: https://sid.ir/paper/256591/en

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