@unpublished{BohlayerFleschutzBraunetal.2019,
  author  = {Markus Bohlayer and Markus Fleschutz and Marco Braun and Gregor Z{\"o}ttl},
  title   = {Energy-intense production-inventory planning with participation in sequential energy markets},
  institution = {Friedrich-Alexander-Universit{\"a}t Erlangen-N{\"u}rnberg},
  year    = {2019},
  abstract  = {To support the uprise of demand response, especially in the context of industrial processes, we propose a new approach to integrally determine the production-inventory plan and the cost-minimizing bids to participate in sequential reserve and energy-only markets. In particular, our approach considers time-coupling constraints which occur in the context of a production-inventory planning problem. We extend this problem with a comprehensive bidding formulation, which allows evaluating revenues and potential cost from the market participation, considering price uncertainties and uncertain activations of committed reserve capacity. This results in a multistage stochastic mixed-integer linear program, which explicitly considers the stage-wise revelation of information in our setup. To illustrate the capabilities of our approach, we apply our model to a real-world case study in which we investigate the participation of a cement plant in the German energy-only and reserve markets. The results of our case study indicate significant revenues for flexible industrial processes when participating in German spot and reserve markets.},
  url  = {https://opus4.kobv.de/opus4-trr154/290},
  type = {Preprint},
  institution  = {TRR 154}
}