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 proceedingConference contributionAcademicpeer-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 languageEnglish
Title of host publication 2015 IEEE Eindhoven PowerTech
Place of PublicationPiscataway
PublisherInstitute of Electrical and Electronics Engineers
Pages1-6
Number of pages6
ISBN (Electronic)978-1-4799-7693-5
DOIs
Publication statusPublished - 2015
Externally publishedYes
Event2015 IEEE Power Tech - Eindhoven, Netherlands
Duration: 29 Jun 20152 Jul 2015
http://powertech2015-eindhoven.tue.nl/

Conference

Conference2015 IEEE Power Tech
CountryNetherlands
CityEindhoven
Period29/06/152/07/15
Internet address

Fingerprint Dive into the research topics of 'Optimal generic energy storage system offering in day-ahead electricity markets'. Together they form a unique fingerprint.

Cite this