Abstract
Micro energy grid (MEG) is an efficient energy system that can be economically worthwhile if the intercorrelation of energy prices for electricity and natural gas are appropriately considered. This study is to define the optimal design for components capacities and efficient operation management based on optimal hourly energy prices for electricity and natural gas for a MEG system, using branch and bond optimization algorithm. A static model for the MEG system was utilized for determining the optimal operation cost for a known energy demand based on actual energy prices in Ontario-Canada. In addition, a dynamic model for the MEG was established in the Simulink environment for validation purpose.
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