Optimal operation of integrated electricity and gas networks with risk analysis using downside risk constraints method

Abstract

Recently, the number of power plants producing electricity by natural gas-fired generations is increased. The increased number signifies an inseparable relevance between gas-fired power plants and gas distribution networks. There are different uncertain parameters such as power cut and fluctuation-based market price that are unexpected. They impose financial threats to the performance of the gas and power system. In this study, the downside risk constraint (DRC) method is used by considering market price as an uncertainty. The proposed approach implemented for the non-linear gas flow to assess the coordination between gas and electricity systems properly, in which the financial risks of the cooperation with neighbor zones are regarded. The objective is to minimize the operation cost of the first zone considering the power trading with other zones, in which the proposed approach is applied over a 20-node natural gas (NG) network and IEEE RTS 24-bus. According to the obtained results, to achieve zero risk level in the risk-averse mode, the average cost is increased by 10.3 %. Therefore, it is clear that the possibility of risk has significantly reduced with an increment of operating cost.