학술논문

Trading Strategy for a Flexible Factory Participating in the German Balancing and Day-Ahead Market
Document Type
Conference
Source
2019 54th International Universities Power Engineering Conference (UPEC) International Universities Power Engineering Conference (UPEC), 2019 54th. :1-6 Sep, 2019
Subject
Power, Energy and Industry Applications
Production facilities
Optimization
Electricity supply industry
Load modeling
Planning
Stochastic processes
industrial demand side flexibility
multi market bidding
prosumer
stochastic programming
risk management
Language
Abstract
During the last years, the rising share of renewable energy sources led to increased volatility in terms of power production within the electrical power grid. This leads to a higher amount of control reserve. The use of flexibility options within the industrial sector concerning the electrical power demand is one solution to provide control reserve. For this purpose, the structure of the decision-making process consisting of bid submission, market clearing and operation planning is represented from a demand-side view in this paper. A multi-stage stochastic mixed-integer linear programming model is developed that simultaneously optimizes the electrical demand of a flexible factory and bidding in the German secondary control reserve and day-ahead market. Since the bidding-decisions are made sequentially and the price information is gradually revealed, the optimization problem includes risk management. A case study based on the German electricity market demonstrates the effectiveness of the model.