AUTHOR=Yan Mengxuan , Li Zhanlian , Lai Chun Sing , Zhao Zhuoli , Zobaa Ahmed F. , Lai Loi Lei , Shi Zebing TITLE=Energy management considering multiple power markets and microgrid storage JOURNAL=Frontiers in Energy Research VOLUME=Volume 11 - 2023 YEAR=2023 URL=https://www.frontiersin.org/journals/energy-research/articles/10.3389/fenrg.2023.1285270 DOI=10.3389/fenrg.2023.1285270 ISSN=2296-598X ABSTRACT=

The operational cost of a microgrid is significantly influenced by the response of storage systems and the complexities of the power market’s tariff structures. This paper addresses the challenges arising from the coexistence of new market entries and traditional tariffs, which contribute to a complex market environment. To tackle this issue, the paper establishes a microgrid market environment encompassing four types of tariffs. By modeling the response of electric storage and cold storage in a microgrid, the study formulates a non-linear mixed-integer optimization problem. Numerical studies are then conducted to verify the model and analyze market performance. The results reveal a trade-off in behavior among different market entries when optimizing the total cost of microgrid operation. These findings shed light on the complexities and trade-offs involved in microgrid operational cost optimization within a diverse market environment, offering valuable insights for market participants.