FG Energiewirtschaft
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Operators seek to achieve economic objectives when dispatching assets in electricity markets subject to asset’s technical as well as market constraints. To ensure optimal operation in energy markets, the parametric uncertainty of key market drivers such as wholesale and balancing services prices should be investigated. The research problem to be covered in the paper deals with the revenue maximization of a price-taker battery storage power plant participating in competitive wholesale electricity and balancing markets. The paper uses a multi-stage optimization approach to model uncertainty of a battery energy storage system participating in the Spanish Market. The study reveals that a significant benefit of using stochastic solution (over 5 percent) is obtained when the role of battery energy storage system is analyzed for 2020.
This paper is set up to answer the question: What do we know about future hydrogen import costs on the European border? Our work focuses on breaking down, structuring and analysing the body of literature on hydrogen supply chains. We provide a comprehensive analysis on (i) What ranges of costs exist in the literature for specific steps of hydrogen supply chains? (ii) Which assumptions show the highest uncertainty? (iii) Related, what assumption seems to have the most substantial effect on the resulting EUR/kgH2 import cost estimate? While we narrow our discussion focus on North Africa and Australia to Europe in 2050, we hope policymakers, research fellows and energy-sector stakeholders around the globe might be interested in our results.
In this paper, we endogenously compute worst-case weather events in a transmission system expansion planning problem using the robust optimization approach. Mathematically, we formulate a three-level mixed-integer optimization problem, which we convert to a bi-level problem via the strong duality concept. We solve the problem using a constraint-and-column generation algorithm. We use cardinality-constrained uncertainty sets to model the effects of extreme weather realizations on supply from renewable generators.