Multi-objective hydropower purchase optimization method for inter-provincial power grids under time-sharing electricity price

¹ Shcool of Hydropower and Information Engineering, Huazhong University of Science and Technology, Wuhan, Hubei 430074, China
² Central China Power Grid Company, Wuhan, Hubei 430077, China

Abstract

The existing electric grid purchase ratio research focuses on the methods of various types of combinations of purchasing and selling business of electricity, and the methods of reasonable risk allocation between different businesses, First, it lacks the consideration of the sensitivity of customer requirements to electricity price changes . Second, it lacks the consideration of optimization of the revenue and risk of hydropower purchase in the provincial electric grid.

Therefore, this paper establishes the multi-objective time-of-use power price model based on customer requirements for time-of-use power price response.It introduces a VaR-based risk assessment method. Also, it proposes a multi-objective optimization model that maximizes the expected revenue on electricity purchase and minimizes the risk of purchasing electricity. The electricity purchase ratio scheme and the electrictiy purchase risk scheme are jointly optimized to obtain the electric grid inter-provincial electrictiy purchase risk decision and the optimal electricity purchase ratio. The results show that the grid company will obtain greater economic benefits while avoiding risks as much as possible after using the power purchase optimization method of this paper.