LAUSR

Abstract Energy hub as the future’s energy technology has discussed a new point of view in the energy consumption optimization field. The heating market as a new energy market, which is recently in some countries, presents a new venue for an energy hub operation. Heat demand side management is another control variable that makes the hub’s management more active and flexible. Providing heat from the heating market and utilization heat demand response features can influence the hub’s operational cost because of adding new degrees of freedom to the problem. In this paper, risk-based stochastic scheduling of energy hub is formulated via scenario-based stochastic programming by considering a wind turbine, electricity market, electrical and heat storage systems, electrical and heat demand response programs (DRP), and the heating market as the new found energy market. The downside risk constraints (DRC) are proposed to minimize the risk associated with uncertainties in order to obtain the risk-based scheduling of energy hub. Simulation results have been presented in different cases to show the impact of DRC implementation which the expected cost is increased while the risk-in-cost (RIC) is decreased. Finally, the effect of the DRP on the problem is investigated and the results show that the expected cost and RIC are decreased.