Related papers: Internal hydro- and wind portfolio optimisation in…
This study investigates the economic and reliability benefits of improved offshore wind forecasting for grid operations along the U.S. East Coast. We introduce and evaluate a state-of-the-art, machine-learning-based offshore wind…
Industrial electricity consumers with flexible demand can profit by adjusting their load to short-term prices and by providing balancing services to the grid. Markets which support this kind of short-term position adjustment are the…
Investments into renewable energy are increasing rapidly around the world. Energy system models are able to provide insights into optimal investment capacities and thus are widely used to aid the long-term investment decision-making under…
In the evolving power system, where new renewable resources continually displace conventional generation, conventional hydropower resources can be an important asset that helps to maintain reliability and flexibility. Varying climatic…
The intermittent nature of the renewable energies increases the operation costs of conventional generators. As the share of energy supplied by renewable sources increases, these costs also increase. In this paper, we quantify these costs by…
Energy storage technologies are key to improving grid flexibility in the presence of increasing amounts of intermittent renewable generation. We propose an insurance contract that suitably compensates energy storage systems for providing…
This paper focuses on the operation of an electricity market that accounts for participants that bid at a sub-minute timescale. To that end, we model the market-clearing process as a dynamical system, called market dynamics, which is…
Volume imbalance in a limit order book is often considered as a reliable indicator for predicting future price moves. In this work, we seek to analyse the nuances of the relationship between prices and volume imbalance. To this end, we…
A large part of the operational cost for a wind power farm is due to the cost of equipment maintenance, especially for offshore wind farms. How to reduce the maintenance cost, and hence increase profitability, is this article's focus. It…
The integration of renewable sources poses challenges at the operational and economic levels of the power grid. In terms of keeping the balance between supply and demand, the usual scheme of supply following load may not be appropriate for…
The large integration of variable energy resources is expected to shift a large part of the energy exchanges closer to real-time, where more accurate forecasts are available. In this context, the short-term electricity markets and in…
At present, electricity markets largely ignore the fact that renewable power producers impose significant externalities on non-renewable energy producers. This is because consumers are generally guaranteed electricity within certain load…
Wind power is one of the most important sources of renewable energy. A large part of the wind energy cost is due to the cost of maintaining the wind power equipment. To further reduce the maintenance cost, one can improve the design of the…
This paper proposes an optimal strategy for a Renewable Energy Community participating in the Italian pay-as-bid ancillary service market. The community is composed by a group of residential customers sharing a common facility equipped with…
The energetic flexibility of electric energy resources can be exploited when trading on wholesale energy and ancillary service markets. This paper considers the problem of a Balance Responsible Party to maximize its profit from trading on…
We consider the problem of managing a hydroelectric power plant system. The system consists of N hydropower dams, which all have some maximum production capacity. The inflow to the system is some stochastic process, representing the…
Energy storage can absorb variability from the rising number of wind and solar power producers. Storage is different from the conventional generators that have traditionally balanced supply and demand on fast time scales due to its hard…
This paper applies computational techniques of convex stochastic optimization to optimal operation and valuation of electricity storages in the face of uncertain electricity prices. Our valuations are based on the indifference pricing…
In two-stage electricity markets, renewable power producers enter the day-ahead market with a forecast of future power generation and then reconcile any forecast deviation in the real-time market at a penalty. The choice of the forecast…
Energy costs are a major factor in the total cost of ownership (TCO) for high-performance computing (HPC) systems. The rise of intermittent green energy sources and reduced reliance on fossil fuels have introduced volatility into…