Day-Ahead Schedule and Equilibrium for the Coupled Electricity and Natural Gas Markets

Optimal demand response strategies to mitigate wind power variability and gas‐supply uncertainty in a multi‐resolution robust security constrained unit commitment

“…As can be seen, all four DR programs (i.e. EDRP, demand bidding, ToU, and CPP) are participated in energy procurement in both system and nodal power balance constraints, (2) and 3, respectively. Constraints 4and (5) show maximum and minimum power generation capacity both in hourly and sub-hourly time frames for thermal units, respectively.…”

“…Investigating the impacts of natural gas on power system operation is done in many recent papers [2][3][4][5][6][7][8][9][10]. In [2], the authors propose a bilevel profit maximisation for both electricity and natural gas markets independently where locational marginal prices are updated in lower market clearing levels and participants in both markets can reach to an equilibrium for guaranteeing their profits at the upper levels. The bids and prices between a gas-fired unit and gas market is the connector of these two separated market clearing procedures.…”

Two‐stage nested bilevel model for generation expansion planning in combined electricity and gas markets

“…Constraints on CVaR are represented in (24)- (26). Equation (27) restricts the offering prices of GENCOs. For each sample of wind and solar power, the LMEPs α n e ydt and the cleared outputs of new and existing units P ydtn e , P ydto e are determined by (28)-(33).…”

“…A dynamic market mechanism is presented and market timing mismatches are modelled as fuel uncertainties. According to [27], if there are misalignments between electricity and gas markets, GENCOs with gas-fired units need to manage their schedules over two gas days for each electric day. These GENCOs have to offer their needs in the first gas day and buy natural gas based on the day-ahead nomination in the second gas day.…”

“…(46) At the second stage, the electricity CONCOs offering problem(19)-(21) is considered as the x-update problem. The GENCOs GEP problems (22)-(27) are formulated as the y-update problem, while the electricity market clearing problems (28)-(33) is considered as the z-update problem. The objective of the x-update problem is given in (47), subject to constraints(20) and(21).…”