Fischer, M., Schenzel, K. W., & Hofmann, R. (2023). Multi-stage optimization for marketing industrial flexibility. In A. C. Kokossis, M. Georgiadis, & E. Pistikopoulos (Eds.), 33rd European Symposium on Computer Aided Process Engineering (pp. 215–220). Elsevier. https://doi.org/10.1016/B978-0-443-15274-0.50035-4
33rd European Symposium on Computer Aided Process Engineering
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ISBN:
978-0-443-15274-0
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Volume:
52
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Date (published):
2023
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Event name:
33rd European Symposium on Computer Aided Process Engineering (ESCAPE33)
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Event date:
18-Jun-2023 - 21-Jun-2023
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Event place:
Athen, Greece
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Number of Pages:
6
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Publisher:
Elsevier
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Keywords:
Flexibility; Intraday Market; MILP; Optimization
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Abstract:
This work presents a method based on Mixed Integer Linear Programming (MILP) to consider wholesale energy markets in the operational optimization of industrial energy systems. A two-stage optimization framework is presented to consider price differences between the day-ahead and the intraday spot markets to optimize the electricity procurement in both markets. A representative use case of an industrial process is used to optimize the energy supply from the power generators and storage units and minimize energy costs as well as to benefit from participating in the wholesale market. The results show potential to save energy costs and make additional profits on the intraday market.
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Research Areas:
Sustainable Production and Technologies: 20% Climate Neutral, Renewable and Conventional Energy Supply Systems: 80%
