Strategic Operation of a Virtual Energy Hub With the Provision of Advanced Ancillary Services in Industrial Parks

Coordinated operation of several industrial energy hubs (IEHs) to realize local management concepts at strategic points like parks has attracted the attention power grid operators worldwide. Deriving an operational model for integrating a large set IEHs trade in various markets is fundamental challenge that not yet been addressed. To overcome this research gap, paper presents optimal market participation strategy virtual hub (VEH) consisting multiple and consumers. The proposed seeks answer two questions: (1) how can VEH operator minimize its cost when participating different electricity markets, i.e., day-ahead market, real-time as well natural gas market? (2) ancillary services affect economic performance VEH? address these questions, two-stage robust-stochastic optimization total compensate risks associated with existing uncertainties considering limits grid. aim, advanced services, market-based demand response programs transactive management, are used line problem. Furthermore, role multi-supply facilities included developed improve flexibility. feasibility validated through case studies on modified IEEE 14-bus test system. Simulation results demonstrate decreases by least 9.24% services.