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 |
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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 | |
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 |
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Country/Territory | Netherlands |
City | Eindhoven |
Period | 29/06/15 → 2/07/15 |
Internet address |