Day-ahead Optimal Scheduling of Microgrids Participating in Multiple Energy Markets

Local flexibility markets (LFMs) have emerged as a promising solution for integrating Distributed Energy Resources into the distribution network, helping to address challenges such as grid stability and congestion. However, the optimal strategies for Microgrids (MG) and aggregators to effectively participate in these markets remain largely unexplored. This paper presents a multi-objective optimization approach for the day-ahead scheduling of MG in LFMs and day-ahead (DA) energy markets. By developing a detailed MG model with various distributed energy resources and storage systems, the study aims to minimize operational costs while maximizing market participation and revenue. A comparative case study highlights the economic benefits of dual-market participation over a single DA market strategy.