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Comparative Analysis of Adjustable Robust Optimization Alternatives for the Participation of Aggregated Residential Prosumers in Electricity Markets

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  • Carlos Adrian Correa-Florez

    (PERSEE—Centre for Processes, Renewable Energies and Energy Systems, MINES ParisTech, PSL University, 1 rue Claude Daunesse, CS 10207, 06904 Sophia Antipolis CEDEX, France)

  • Andrea Michiorri

    (PERSEE—Centre for Processes, Renewable Energies and Energy Systems, MINES ParisTech, PSL University, 1 rue Claude Daunesse, CS 10207, 06904 Sophia Antipolis CEDEX, France)

  • Georges Kariniotakis

    (PERSEE—Centre for Processes, Renewable Energies and Energy Systems, MINES ParisTech, PSL University, 1 rue Claude Daunesse, CS 10207, 06904 Sophia Antipolis CEDEX, France)

Abstract

Active participation of end users in energy markets is identified as one of the major challenges in the energy transition context. One option to bridge the gap between customers and the market is aggregators of smart homes or buildings. This paper presents an optimization model from the standpoint of an aggregator of residential prosumers who have PV panels, electric water heaters, and batteries installed at home level. This aggregator participates in the day-ahead energy market to minimize operation costs by controlling the settings of flexible devices. Given that energy prices, PV production, and demand have uncertain behavior, appropriate models should be used to include these effects. In the present work, Adjustable Robust Optimization (ARO) is used to include uncertainty in the optimization model, and a comparative study of modifications to this formulation is carried out to determine its potential and limitations. The comparative analysis is performed from the point of view of average cost and risk, after performing Monte Carlo simulation. Simulations show the advantages of using an ARO framework when compared to deterministic approaches and also allow us to conclude about the advantages of using the proposed alternative formulation to find more attractive solutions for an aggregator.

Suggested Citation

  • Carlos Adrian Correa-Florez & Andrea Michiorri & Georges Kariniotakis, 2019. "Comparative Analysis of Adjustable Robust Optimization Alternatives for the Participation of Aggregated Residential Prosumers in Electricity Markets," Energies, MDPI, vol. 12(6), pages 1-27, March.
    • Handle: RePEc:gam:jeners:v:12:y:2019:i:6:p:1019-:d:214279
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    5. Fernando V. Cerna & Mahdi Pourakbari-Kasmaei & Luizalba S. S. Pinheiro & Ehsan Naderi & Matti Lehtonen & Javier Contreras, 2021. "Intelligent Energy Management in a Prosumer Community Considering the Load Factor Enhancement," Energies, MDPI, vol. 14(12), pages 1-24, June.

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