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

Yaser Tohidi; Madeleine Gibescu; Wiebrand Kout

doi:10.1109/ENERGYCON.2018.8398805

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

Yaser Tohidi
, Madeleine Gibescu
, Wiebrand Kout

Electrical Energy Systems

Onderzoeksoutput: Hoofdstuk in Boek/Rapport/Congresprocedure › Conferentiebijdrage › Academic › peer review

3 Citaten (Scopus)

Samenvatting

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.

Originele taal-2	Engels
Titel	2018 IEEE International Energy Conference, ENERGYCON 2018
Plaats van productie	PIscataway
Uitgeverij	Institute of Electrical and Electronics Engineers
Aantal pagina's	6
ISBN van elektronische versie	978-1-5386-3669-5
DOI's	https://doi.org/10.1109/ENERGYCON.2018.8398805
Status	Gepubliceerd - 27 jun. 2018
Evenement	2018 IEEE International Energy Conference, EnergyCon 2018 - Limassol, Cyprus Duur: 3 jun. 2018 → 7 jun. 2018 http://www.energycon2018.org/

Congres

Congres	2018 IEEE International Energy Conference, EnergyCon 2018
Verkorte titel	Energycon 2018
Land/Regio	Cyprus
Stad	Limassol
Periode	3/06/18 → 7/06/18
Internet adres	http://www.energycon2018.org/

Financiering

The authors would like to thank the co-partners of the DOAblE Project, DNV GL and Alliander. The DOAblE project is funded by RVO (Netherlands Enterprise Agency) under project reference number ES0114009.

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@inproceedings{67ec8932d0de4de19a6dbbc819207100,

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

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.",

keywords = "Arbitrage, Energy Storage, Hydrogen Bromine Flow Battery, Price Uncertainty",

author = "Yaser Tohidi and Madeleine Gibescu and Wiebrand Kout",

year = "2018",

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doi = "10.1109/ENERGYCON.2018.8398805",

language = "English",

booktitle = "2018 IEEE International Energy Conference, ENERGYCON 2018",

publisher = "Institute of Electrical and Electronics Engineers",

address = "United States",

note = "2018 IEEE International Energy Conference, EnergyCon 2018, Energycon 2018 ; Conference date: 03-06-2018 Through 07-06-2018",

url = "http://www.energycon2018.org/",

}

Tohidi, Y, Gibescu, M & Kout, W 2018, Energy arbitrage of hydrogen-bromine flow battery between the day-Ahead and imbalance electricity markets considering price uncertainty. in 2018 IEEE International Energy Conference, ENERGYCON 2018., 8398805, Institute of Electrical and Electronics Engineers, PIscataway, 2018 IEEE International Energy Conference, EnergyCon 2018, Limassol, Cyprus, 3/06/18. https://doi.org/10.1109/ENERGYCON.2018.8398805

Energy arbitrage of hydrogen-bromine flow battery between the day-Ahead and imbalance electricity markets considering price uncertainty. / Tohidi, Yaser; Gibescu, Madeleine; Kout, Wiebrand.
2018 IEEE International Energy Conference, ENERGYCON 2018. PIscataway: Institute of Electrical and Electronics Engineers, 2018. 8398805.

Onderzoeksoutput: Hoofdstuk in Boek/Rapport/Congresprocedure › Conferentiebijdrage › Academic › peer review

TY - GEN

T1 - Energy arbitrage of hydrogen-bromine flow battery between the day-Ahead and imbalance electricity markets considering price uncertainty

AU - Tohidi, Yaser

AU - Gibescu, Madeleine

AU - Kout, Wiebrand

PY - 2018/6/27

Y1 - 2018/6/27

N2 - 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.

AB - 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.

KW - Arbitrage

KW - Energy Storage

KW - Hydrogen Bromine Flow Battery

KW - Price Uncertainty

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M3 - Conference contribution

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BT - 2018 IEEE International Energy Conference, ENERGYCON 2018

PB - Institute of Electrical and Electronics Engineers

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T2 - 2018 IEEE International Energy Conference, EnergyCon 2018

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ER -

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

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