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Integrated Electricity and Gas Market Modeling – Effects of Gas Demand Uncertainty

  • This paper develops an integrated fundamental investment model which considers both the gas and electricity sector. Furthermore, we adopt the theory of stochastic programming with recourse in the combined model to account for uncertainty in the gas market. This approach enables us to analyze how uncertain gas demand in other sectors affects decisions to invest in electricity generation capacities. We find an overall decrease and a reallocation of investments in gas-fired power plants. We also quantify the expected costs of ignoring uncertainty.

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Author: Iegor Riepin, Thomas Möbius, Felix MüsgensORCiD
URL:https://ieeexplore.ieee.org/stamp/stamp.jsp?tp=&arnumber=8469790
DOI:https://doi.org/10.1109/EEM.2018.8469790
ISBN:978-1-5386-1488-4
Title of the source (English):15th International Conference on the European Energy Market (EEM), 27-29 June 2018, Lodz, Poland
Publisher:IEEE
Place of publication:Piscataway, NJ
Document Type:Conference Proceeding
Language:English
Year of publication:2018
Tag:electricity market; integrated energy system modeling; natural gas market; stochastic modeling
Number of pages:5
Faculty/Chair:Fakultät 3 Maschinenbau, Elektro- und Energiesysteme / FG Energiewirtschaft
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