A real time control model for micro combined heat and power system operation

This paper presents and approach for optimizing the operation of a micro-Combined Heat and Power system (μCHP) in a real time price market scenario. The objective is to determine the optimal operation set-point for the μCHP for the following five minutes according to the realtime price signal sent by the System Operator (SO) so as to maximise the profits obtained from the operation of the device while thermal demand requirements are fulfilled. The control algorithm makes use of the relative price concept in the decision making process as well as price sensitivity information of the end-user. Results of the simulated case studies show the feasibility of the proposed model for controlling the operation of a μCHP in a realtime price based market scenario in terms of economical profitability compared with a conventional thermostat based operation mode.