Gas-electricity coordination in competitive markets under renewable energy uncertainty

P. Dueñas, T. Leung, M. Gil, J. Reneses

IEEE Transactions on Power Systems Vol. 30, nº. 1, pp. 123 - 131

Summary:
As climate concerns, low natural gas prices, and renewable technologies increase the electric power sector's dependence on natural gas-fired power plants, operational and investment models for gas and electric power systems will need to incorporate the interdependencies between these two systems to accurately capture the impacts of one on the other. Currently, few hybrid gas-electricity models exist. This paper reviews the state of the art for hybrid gas-electricity models and presents a new model and case study to illustrate a few potential coupling effects between gas and electric power systems. Specifically, the proposed model analyzes the optimal operation of gas-fired power plants in a competitive electricity market taking into consideration gas purchases, gas capacity contracting, and residual demand uncertainty for the generation company due to renewable energy sources.

Keywords: Electric power market, natural gas market, optimization model, renewable energy integration, risk averseness

JCR Impact Factor and WoS quartile: 3,342 - Q1 (2015); 6,600 - Q1 (2022)

DOI reference: https://doi.org/10.1109/TPWRS.2014.2319588

Published on paper: January 2015.

Published on-line: May 2014.

Citation:
P. Dueñas, T. Leung, M. Gil, J. Reneses, Gas-electricity coordination in competitive markets under renewable energy uncertainty. IEEE Transactions on Power Systems. Vol. 30, nº. 1, pp. 123 - 131, January 2015. [Online: May 2014]