Nodal prices in an integrated energy system

This paper presents a multiperiod generalised network flow model used to analyse the economic interdependencies of integrated energy systems comprising the electric network and the various fuel supply and delivery systems, in a medium term operational time frame. By using a network flow programming model, one can take advantage of much faster solution procedures than standard linear programming techniques, an issue of importance considering the dimensionality of such integrated systems. The nodal prices that are obtained as a by-product of the optimisation algorithm provide a way to analyse the economic interdependencies between the various fuel networks and the electric network. A numerical example is presented to highlight the benefits of the methodology and illustrate how nodal prices in the electric network are influenced by the dynamics of the various fuel networks.