Risk-constrained Energy Management of multi-energy multi-microgrids system with integrated demand response using hybrid risk assessment approach

This article proposes a novel risk-constrained bi-level energy management strategy of combined power and heat-based multi-microgrids system, which determines the optimal distributed energy resources and reserves scheduling and maximizes the system profit in the presence of electricity and heat markets. This energy management (EM) framework incorporates an integrated demand response program intending to reshape the electricity and heating demand pattern while encouraging consumer participation by offering incentives. Alongside the external market for conducting power transactions with the utility grid, an internal market is established to influence the neighboring microgrids to engage in local trading activities and lessen their dependence on the utility grid. The proposed model utilizes a risk-assessment model to accommodate the uncertainties associated with the various demands, such as load, heat and vehicle charging demands, by adopting the conditional value-at-risk (CVaR) approach in the first level due to its ability to effectively quantify the potential effects of the risk exposure resulting from the utmost variability. By utilizing the advantageous feature of evaluating risk without the necessity of the probability density function of the stochastic parameters, weighted-information gap decision theory (WIGDT) is implemented in the second level to address the intrinsic unpredictability of renewable resources generation. A five-microgrid test system encompassing residential, commercial and industrial microgrids is employed to investigate the suggested framework; comprehensive case studies and substantial simulation outcomes corroborate the performance of the proposed CVaR-WIGDT-based EM strategy.