Stochastic optimal operation and risk assessment for integrated power and gas systems

Abstract

The increment integration of renewable distributed energies means the desired operation of the electric power system will significantly depend on the performance of primary energy. In this order, an integrated approach for mutual interaction between the electricity and natural gas systems has been considered for the purpose of ensuring optimal energy exchanging between the electric power system and the natural gas network. We propose a scenario based optimal operation approach to optimize the operation of integrated power and gas systems (IPGS). Regarding the unpredictable nature of wind speed and solar radiation as well as uncertain load demand, random scenarios are generated by a normal probability density function. Then, Latin hypercube sampling is applied to realize the stochastic framework of IPGS operation. The proposed model minimizes the operation cost of conventional power system generators and gas wells over a 24 h operation horizon. In addition, the conditional value-at-risk is utilized to manage financial risks and uncertainties due to the operation cost-minimizing in the proposed IPGS optimal operation problem. The proposed integrated operating approach is applied to a 24-Bus power system with renewable resources of a photovoltaic, wind turbine, energy storage, with a 7-node natural gas network and two gas wells.