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Modeling Uncertainty Energy Price Based on Interval Optimization and Energy Management in the Electrical Grid

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Abstract

Energy providers are faced with the challenge of effectively managing electrical energy systems amidst uncertainties. This study focuses on the management and dispatch of energy demand in the electricity microgrid, employing an interval optimization strategy to address electricity price uncertainties. The demand response program (DRP) incentive modeling is utilized to implement demand dispatch. To mitigate the impact of electricity price uncertainties, an incentive modeling approach based on offering reduced electricity demand during peak periods is proposed. The interval optimization approach is employed to minimize operational costs, with the epsilon constraint-based fuzzy method utilized to solve and address the problem. The effectiveness of the proposed modeling approach under conditions of uncertainty is demonstrated through the use of the microgrid in various case studies and numeric simulations. The participation of the DRP leads to minimizing the average and deviation costs by 9.5% and 6.5% in comparison with non-participation.

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Availability of Data and Materials

The data that support the findings of this study are available from the corresponding author upon reasonable request.

Abbreviations

t, T :

Time (hour)

m, M :

Micro turbine (MT) index (–)

NC :

Consumers’ number

D eq , D RE :

Consumers’ demand and demand reduced by DRP (kW)

Ψ RE :

Offer price for DRP ($)

C RE :

DRP price ($)

A, B, C :

MT fuel cost ($)

P m , P PM :

MT power and PM power (kW)

c PM :

Price of electricity in PM ($)

Θ RE :

Binary variable of the DRP

τ RE , κ RE :

Binary variable for before and after DRP

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Authors and Affiliations

  1. Academic Department of Business Studies, National University José María Arguedas, Andahuaylas-Apurímac, Peru

    Julio César Machaca Mamani

  2. Department of Basic Sciences, Frontera National University of Sullana, Sullana, Peru

    Freddy Carrasco-Choque

  3. Department of Ecotourism, National Amazonian University of Madre de Dios, Puerto Maldonado, Peru

    Edith Fernanda Paredes-Calatayud & Helfer Cusilayme-Barrantes

  4. Ciencias de la Salud, Universidad Tecnológica de los Andes, Andahuaylas, Perú

    Rocío Cahuana-Lipa

Authors
  1. Julio César Machaca Mamani
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  2. Freddy Carrasco-Choque
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  3. Edith Fernanda Paredes-Calatayud
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All authors have equal contributions including conceptualization, methodology, software, data curation, formal analysis, writing—review and editing, and writing—original draft.

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Correspondence to Julio César Machaca Mamani.

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This article is part of the Topical Collection on Mathematical Models and Optimization for Environmental Engineering and Sustainable Technologies

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Mamani, J.C.M., Carrasco-Choque, F., Paredes-Calatayud, E.F. et al. Modeling Uncertainty Energy Price Based on Interval Optimization and Energy Management in the Electrical Grid. Oper. Res. Forum 5, 4 (2024). https://doi.org/10.1007/s43069-023-00289-2

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