Gas-Electricity Coordination in Competitive Markets under Renewable Energy Uncertainty
Name
esd-wp-2013-19.pdf
Size
1.55 MB
Format
Adobe PDF
Checksum (MD5)
c25197416e75325cccd855eefe25beac
Author(s)
Duenas, Pablo
Leung, Tommy
Gil, Maria
Reneses, Javier
Date Issued
October 2013
Publisher
Massachusetts Institute of Technology. Engineering Systems Division
Series/Report no.
ESD Working Papers;ESD-WP-2013-19
Abstract
As climate concerns, low natural gas prices, and renewable technologies increase the electric power sector’s dependence on natural gas-fired power plants, operational and investment models for gas and electric power systems will need to incorporate the interdependencies between these two systems to accurately capture the impacts of one on the other. Currently, few hybrid gas-electricity models exist. This paper reviews the state of the art for hybrid gas-electricity models and presents a new model and case study to illustrate a few potential coupling effects between gas and electric power systems. Specifically, the proposed model analyzes the optimal operation of gas-fired power plants in a competitive electricity market taking into consideration gas purchases, gas capacity contracting, and residual demand uncertainty for the generation company due to renewable energy sources.
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