Short-term trading for a concentrating solar power producer in electricity markets

Agustin A. Sanchez de la Nieta; Nikolaos G. Paterakis; Javier Contreras; Joao P.S. Catalao

doi:10.1109/SEST.2018.8495745

Short-term trading for a concentrating solar power producer in electricity markets

Agustin A. Sanchez de la Nieta, Nikolaos G. Paterakis, Javier Contreras, Joao P.S. Catalao

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

2 Citations (Scopus)

Abstract

Concentrating solar power (CSP) plants with thermal energy storage (TES) are emerging renewable technologies with the advantage that TES decreases the uncertainty in the generation of CSP plants. This study introduces a stochastic mixed integer linear programming model, where the objective function is the maximization of the expected profit that can be obtained by selling the energy generated by the CSP plant in the day-ahead electricity market. The proposed model considers three main blocks of constraints, namely, renewable generator constraints, TES constraints, and electricity market constraints. The last category of constraints considers the penalties incurred due to positive or negative imbalances in the balancing market. A case study using data from the Spanish electricity market is introduced, described and analyzed in terms of trading of the CSP plant generation. The conclusions highlight the influence of TES capacity on the energy trading profile, the expected profits and the volatility (risk) in the trading decisions.

Original language	English
Title of host publication	2018 International Conference on Smart Energy Systems and Technologies, SEST 2018 - Proceedings
Place of Publication	Piscataway
Publisher	Institute of Electrical and Electronics Engineers
Number of pages	6
ISBN (Electronic)	978-1-5386-5326-5
ISBN (Print)	978-1-5386-5327-2
DOIs	https://doi.org/10.1109/SEST.2018.8495745
Publication status	Published - 17 Oct 2018
Event	1st International Conference on Smart Energy Systems and Technologies, SEST 2018 - Sevilla, Spain Duration: 10 Sept 2018 → 12 Sept 2018

Conference

Conference	1st International Conference on Smart Energy Systems and Technologies, SEST 2018
Country/Territory	Spain
City	Sevilla
Period	10/09/18 → 12/09/18

Keywords

ARIMA models
concentrating solar power producer
day-ahead electricity market
renewable energy
thermal energy storage

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

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10.1109/SEST.2018.8495745

Cite this

de la Nieta, A. A. S., Paterakis, N. G., Contreras, J., & Catalao, J. P. S. (2018). Short-term trading for a concentrating solar power producer in electricity markets. In 2018 International Conference on Smart Energy Systems and Technologies, SEST 2018 - Proceedings Article 8495745 Institute of Electrical and Electronics Engineers. https://doi.org/10.1109/SEST.2018.8495745

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abstract = "Concentrating solar power (CSP) plants with thermal energy storage (TES) are emerging renewable technologies with the advantage that TES decreases the uncertainty in the generation of CSP plants. This study introduces a stochastic mixed integer linear programming model, where the objective function is the maximization of the expected profit that can be obtained by selling the energy generated by the CSP plant in the day-ahead electricity market. The proposed model considers three main blocks of constraints, namely, renewable generator constraints, TES constraints, and electricity market constraints. The last category of constraints considers the penalties incurred due to positive or negative imbalances in the balancing market. A case study using data from the Spanish electricity market is introduced, described and analyzed in terms of trading of the CSP plant generation. The conclusions highlight the influence of TES capacity on the energy trading profile, the expected profits and the volatility (risk) in the trading decisions.",

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de la Nieta, AAS, Paterakis, NG, Contreras, J & Catalao, JPS 2018, Short-term trading for a concentrating solar power producer in electricity markets. in 2018 International Conference on Smart Energy Systems and Technologies, SEST 2018 - Proceedings., 8495745, Institute of Electrical and Electronics Engineers, Piscataway, 1st International Conference on Smart Energy Systems and Technologies, SEST 2018, Sevilla, Spain, 10/09/18. https://doi.org/10.1109/SEST.2018.8495745

Short-term trading for a concentrating solar power producer in electricity markets. / de la Nieta, Agustin A. Sanchez; Paterakis, Nikolaos G.; Contreras, Javier et al.
2018 International Conference on Smart Energy Systems and Technologies, SEST 2018 - Proceedings. Piscataway: Institute of Electrical and Electronics Engineers, 2018. 8495745.

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

TY - GEN

T1 - Short-term trading for a concentrating solar power producer in electricity markets

AU - de la Nieta, Agustin A. Sanchez

AU - Paterakis, Nikolaos G.

AU - Contreras, Javier

AU - Catalao, Joao P.S.

PY - 2018/10/17

Y1 - 2018/10/17

N2 - Concentrating solar power (CSP) plants with thermal energy storage (TES) are emerging renewable technologies with the advantage that TES decreases the uncertainty in the generation of CSP plants. This study introduces a stochastic mixed integer linear programming model, where the objective function is the maximization of the expected profit that can be obtained by selling the energy generated by the CSP plant in the day-ahead electricity market. The proposed model considers three main blocks of constraints, namely, renewable generator constraints, TES constraints, and electricity market constraints. The last category of constraints considers the penalties incurred due to positive or negative imbalances in the balancing market. A case study using data from the Spanish electricity market is introduced, described and analyzed in terms of trading of the CSP plant generation. The conclusions highlight the influence of TES capacity on the energy trading profile, the expected profits and the volatility (risk) in the trading decisions.

AB - Concentrating solar power (CSP) plants with thermal energy storage (TES) are emerging renewable technologies with the advantage that TES decreases the uncertainty in the generation of CSP plants. This study introduces a stochastic mixed integer linear programming model, where the objective function is the maximization of the expected profit that can be obtained by selling the energy generated by the CSP plant in the day-ahead electricity market. The proposed model considers three main blocks of constraints, namely, renewable generator constraints, TES constraints, and electricity market constraints. The last category of constraints considers the penalties incurred due to positive or negative imbalances in the balancing market. A case study using data from the Spanish electricity market is introduced, described and analyzed in terms of trading of the CSP plant generation. The conclusions highlight the influence of TES capacity on the energy trading profile, the expected profits and the volatility (risk) in the trading decisions.

KW - ARIMA models

KW - concentrating solar power producer

KW - day-ahead electricity market

KW - renewable energy

KW - thermal energy storage

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SN - 978-1-5386-5327-2

BT - 2018 International Conference on Smart Energy Systems and Technologies, SEST 2018 - Proceedings

PB - Institute of Electrical and Electronics Engineers

CY - Piscataway

T2 - 1st International Conference on Smart Energy Systems and Technologies, SEST 2018

Y2 - 10 September 2018 through 12 September 2018

ER -

Short-term trading for a concentrating solar power producer in electricity markets

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Conference

Keywords

UN SDGs

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