Optimal Day-Ahead Bidding of a Risk-Averse Pulp and Paper Mill in the Energy and Reserve Market [Elektronisk resurs]
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Herre, Lars, 1990- (författare)
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16th International Conference on European Energy Market (EEM)
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Tomasini, Federica (författare)
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Paridari, Kaveh, 1987- (författare)
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IRES (medarbetare)
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KTH Skolan för elektroteknik och datavetenskap (EECS) (utgivare)
- Publicerad: Ljubljana, 2019
- Engelska.
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Sammanfattning
Ämnesord
Stäng
- Due to increased use of variable renewable energy sources, more capacity for reserves is required. Non-generating resources such as large industrial consumers can arbitrage energy prices and provide reserve capacity by exploiting the inherent flexibility in selected industrial processes. A large enough industrial consumer can capitalize on this flexibility through optimized bidding in electricity markets. In this work, the day-ahead cost minimization of a risk-averse pulp and paper mill (PPM) is formulated as a two-stage stochastic problem, considering thermodynamic and electrical constraints of the PPM. The bids in the energy and reserve markets are optimized subject to price uncertainty. The results of a case study in Sweden display a significant economic benefit in exploiting the flexibility of PPM. The expected cost of the pulp and paper mill resulting from different strategies are compared and the risk adversity of the PPM is investigated. We show that reserve offers can significantly improve the profitability of the PPM.
Ämnesord
- Engineering and Technology (hsv)
- Electrical Engineering, Electronic Engineering, Information Engineering (hsv)
- Teknik och teknologier (hsv)
- Elektroteknik och elektronik (hsv)
- Electrical Engineering (kth)
- Elektro- och systemteknik (kth)
Genre
- government publication (marcgt)
Indexterm och SAB-rubrik
- demand side management
- electricity markets
- frequency containment reserve
- industrial demand response
Inställningar
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