Optimal generic energy storage system offering in day-ahead electricity markets

A.A. Sánchez de la Nieta; T.A.M. Tavares; R.F.M. Martins; J.C.O. Matias; J.P.S. Catalão; J. Contreras

doi:10.1109/PTC.2015.7232441

Optimal generic energy storage system offering in day-ahead electricity markets

A.A. Sánchez de la Nieta , T.A.M. Tavares, R.F.M. Martins, J.C.O. Matias, J.P.S. Catalão, J. Contreras

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › Academic › peer-review

8 Citations (Scopus)

Abstract

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.

Original language	English
Title of host publication	2015 IEEE Eindhoven PowerTech
Place of Publication	Piscataway
Publisher	Institute of Electrical and Electronics Engineers
Pages	1-6
Number of pages	6
ISBN (Electronic)	978-1-4799-7693-5
DOIs	https://doi.org/10.1109/PTC.2015.7232441
Publication status	Published - 2015
Externally published	Yes
Event	2015 IEEE Power Tech - Eindhoven, Netherlands Duration: 29 Jun 2015 → 2 Jul 2015 http://powertech2015-eindhoven.tue.nl/

Conference

Conference	2015 IEEE Power Tech
Country	Netherlands
City	Eindhoven
Period	29/06/15 → 2/07/15
Internet address	http://powertech2015-eindhoven.tue.nl/

Access to Document

10.1109/PTC.2015.7232441

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title = "Optimal generic energy storage system offering in day-ahead electricity markets",

abstract = "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.",

author = "{S{\'a}nchez de la Nieta}, A.A. and T.A.M. Tavares and R.F.M. Martins and J.C.O. Matias and J.P.S. Catal{\~a}o and J. Contreras",

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doi = "10.1109/PTC.2015.7232441",

language = "English",

pages = "1--6",

booktitle = "2015 IEEE Eindhoven PowerTech",

publisher = "Institute of Electrical and Electronics Engineers",

address = "United States",

note = "2015 IEEE Power Tech ; Conference date: 29-06-2015 Through 02-07-2015",

url = "http://powertech2015-eindhoven.tue.nl/",

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Sánchez de la Nieta , AA, Tavares, TAM, Martins, RFM, Matias, JCO, Catalão, JPS & Contreras, J 2015, Optimal generic energy storage system offering in day-ahead electricity markets. in 2015 IEEE Eindhoven PowerTech. Institute of Electrical and Electronics Engineers, Piscataway, pp. 1-6, 2015 IEEE Power Tech, Eindhoven, Netherlands, 29/06/15. https://doi.org/10.1109/PTC.2015.7232441

Optimal generic energy storage system offering in day-ahead electricity markets. / Sánchez de la Nieta , A.A.; Tavares, T.A.M.; Martins, R.F.M.; Matias, J.C.O.; Catalão, J.P.S.; Contreras, J.

2015 IEEE Eindhoven PowerTech. Piscataway : Institute of Electrical and Electronics Engineers, 2015. p. 1-6.

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › Academic › peer-review

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T1 - Optimal generic energy storage system offering in day-ahead electricity markets

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AU - Tavares, T.A.M.

AU - Martins, R.F.M.

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AU - Catalão, J.P.S.

AU - Contreras, J.

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AB - 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.

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