Financial Management of the Electricity Market and the Role of Smart Microgrid in Sustainable Development by Reducing Economic Costs in an Energy Hub

Subject Areas : Governance

Ehsan Ghasemi ¹ (Department of Electrical Engineering, Gonabad Branch, Islamic Azad University, Gonabad , Iran.)
Amin Ranjbaran ² (Faculty of Computer and Electrical Engineering, University of Gonabad, St. Ghafari, Gonabad, Iran)
جواد پورحسین ³ (گروه اموزشی برق قدرت، دانشکده برق، دانشگاه ازاد گناباد، ایران)

Received: 2024-03-08 Accepted : 2024-09-08 Published : 2024-09-10

Keywords: Financial Management, Energy Hub, Microgrid, Load and Energy Management, Sustainable Development. ,

Abstract :

Governance and sustainable development with energy hub management and energy optimization through the construction of smart microgrids and executive management can improve productivity and reduce costs. Also, marketing and risk management in the electricity market are of great importance and include several approaches and tools that help improve efficiency and reduce risk. A microgrid is a set of distributed generation resources, energy storage systems, and loads that can be used as grid connection and island operations. In this article, the microgrid is modeled as an energy hub to combine different energy carriers and perform conversion in them to provide optimal electrical and thermal loads required by the consumer. In addition to managing the production units, to improve the performance of the microgrid and help the microgrid operator, a responsive load management strategy and charging and discharging of electric vehicles have been proposed, which has reduced the overall cost of the energy hub.

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