Energy arbitrage of hydrogen-bromine flow battery between the day-Ahead and imbalance electricity markets considering price uncertainty

Yaser Tohidi, Madeleine Gibescu, Wiebrand Kout

Research output: Chapter in Book/Report/Conference proceedingConference contributionAcademicpeer-review

3 Citations (Scopus)

Abstract

In this paper, a stochastic model is presented to investigate arbitrage between the day-Ahead market (DAM) and the imbalance market (IM) for electricity considering uncertainty of prices. The revenue of arbitrage is calculated for a type of flow batteries, namely Hydrogen-Bromine (HBr) batteries. In order to model uncertainty, scenarios are generated by analyzing the real electricity prices. The required number of scenarios is determined through an iterative algorithm that adds scenarios in each iteration until the normalized change in revenue is less than the predefined value. The simulation is done based on the Dutch DAM and IM electricity prices and revenues are calculated for HBr batteries with different parameters. Also, the investment cost, operation cost, and the connection cost are compared with the calculated revenues and an estimation of the gained profit is reported.

Original languageEnglish
Title of host publication2018 IEEE International Energy Conference, ENERGYCON 2018
Place of PublicationPIscataway
PublisherInstitute of Electrical and Electronics Engineers
Number of pages6
ISBN (Electronic)978-1-5386-3669-5
DOIs
Publication statusPublished - 27 Jun 2018
Event2018 IEEE International Energy Conference, EnergyCon 2018 - Limassol, Cyprus
Duration: 3 Jun 20187 Jun 2018
http://www.energycon2018.org/

Conference

Conference2018 IEEE International Energy Conference, EnergyCon 2018
Abbreviated titleEnergycon 2018
CountryCyprus
CityLimassol
Period3/06/187/06/18
Internet address

Keywords

  • Arbitrage
  • Energy Storage
  • Hydrogen Bromine Flow Battery
  • Price Uncertainty

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