Selling price determination by electricity retailer in the smart grid under demand side management in the presence of the electrolyser and fuel cell as hydrogen storage system

Abstract

In this research, an approach for selling price determination by electricity retailer in smart grid has been proposed with considering uncertainty. Also, hydrogen storage system (HSS) containing electrolyser (EL), hydrogen storage tanks (HST) and fuel cell (FC) are used as energy storage system (ESS) in smart grid. Also, demand response program as virtual generation units is proposed to increase retailer profit. Furthermore, renewable energy sources, i.e., photovoltaic (PV) system and wind turbine (WT), as well as power market (PM), bilateral contracts (BCs) and distributed generation (DG) units are used as multiple energy procurement sources. All uncertain parameters are modelled using the scenario-based stochastic framework. In the proposed model, the selling price is determined based on real-time pricing (RTP) by the retailer and it is compared with time-of-use pricing (TOU) in the smart grid. The selling price determination based on RTP and demand response program implementation increases the expected profit of retailer. Four case studies are investigated to validate the proposed model.