PROJECT TITLE :

Medium-Term Operation for an Industrial Customer Considering Demand-Side Management and Risk Management

ABSTRACT:

Under a deregulated market environment, industrial customers will participate in multiple markets with different time ranges to buy electricity. Transactions in different markets make the commercial client involve in several levels of value uncertainties and risks. To resolve this energy procurement portfolio problem, a medium-term operation model is proposed. The risk term is measured and managed by a mean-variance approach. The uncertainties within the proposed model are characterized by stochastic day-ahead and real-time prices generated based mostly on ERCOT historical data. A sample case study is provided to illustrate and verify the proposed model.