Optimal Generic Energy Storage System Offering in Day-Ahead Electricity Markets

• Type: Article in International Conference Proceedings Book
• Date: 2015

Authors

Sanchez de la Nieta, AAS (Author) Other; Tavares, TAM (Author) Other; Martins, RFM (Author) Other; Matias, JCO (Author) Other; Catalao, JPS (Author) FEUP; Contreras, J (Author) Other

Conference proceedings International

Title: 2015 IEEE EINDHOVEN POWERTECH

PowerTech, 2015 IEEE Eindhoven

Eindhoven, NETHERLANDS, JUN 29-JUL 02, 2015

Indexing

ISI Web of Knowledge - 0 Citations

Scopus - 9 Citations

Other information

Authenticus ID: P-00K-2RW

DOI: 10.1109/ptc.2015.7232441

Abstract (EN): This paper models the offers and bids of a generic storage system in an electricity market through stochastic mixed integer linear programming. The objective function aims at maximizing the profit from buying or selling energy for a general storage system. Some parameters such as storage system efficiency, losses of the energy stored and marginal costs are parameterized to evaluate the offers and bids. Market prices are forecasted for 24 hours using AR, MA and ARIMA time series models. The problem is tested for a case study, analyzing the behaviour of the offers and bids. Also, the results obtained are studied and relevant conclusions are presented.

Language: English

Type (Professor's evaluation): Scientific

No. of pages: 6