학술논문

Dynamic optimisation of price arbitrage techniques
Document Type
Conference
Source
2016 IEEE 2nd International Forum on Research and Technologies for Society and Industry Leveraging a better tomorrow (RTSI) Research and Technologies for Society and Industry Leveraging a better tomorrow (RTSI), 2016 IEEE 2nd International Forum on. :1-6 Sep, 2016
Subject
Bioengineering
Communication, Networking and Broadcast Technologies
Computing and Processing
Fields, Waves and Electromagnetics
General Topics for Engineers
Power, Energy and Industry Applications
Robotics and Control Systems
Signal Processing and Analysis
Optimization
Industries
Algorithm design and analysis
Presses
Mathematical model
Power system dynamics
Technological innovation
arbitrage technique
dynamical optimisation
electricity price
Modelica
storage
Language
Abstract
Recent innovations introduced in the electric power system, especially the significant usage of unpredictable renewable energy sources, are making to perform the needed matching of generated and absorbed electricity more difficult than in the past. To facilitate this matching, market regulation can provide economical drivers that stimulate cost-effective energy shifting by the so-called “prosumers” or the owners of energy storage devices. Price arbitrage, for instance, means to absorb energy when its price is low, and delivering it when is higher. To enhance the revenues achieved with this kind of operation, proper control techniques based on solving a Dynamical Optimisation problem can be considered. This paper will study price arbitrage techniques taking advantage of Modelica language description of the system, that allows easy and fast approach in modelling and also in using dynamical optimisation algorithms. The arbitrage opportunities and the optimal operational strategies will be studied considering different storage sizes and price patterns. Comparison of several strategies will be analysed, discussed and validated using an ad-hoc mixed-integer optimization program whose validity has already been widely checked in previous studies.