Optimal Operation of a CHP Plant for the Energy Balancing Market

Katrin Schulz (), Bastian Hechenrieder () and Brigitte Werners ()
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Katrin Schulz: Ruhr University Bochum
Bastian Hechenrieder: Ruhr University Bochum
Brigitte Werners: Ruhr University Bochum

A chapter in Operations Research Proceedings 2014, 2016, pp 531-537 from Springer

Abstract: Abstract For energy companiesSchulz, Katrin with a combined heat and power (CHP) plant and a heat storageHechenrieder, Bastian device, the provisionWerners, Brigitte of balancing power provides additional revenue potential. Balancing power is needed to ensure a stable frequency if current generation differs from demand. In Germany, the responsible transmission system operator procures the needed type of reserve energy through an auction. To participate in the balancing market for minute reserve, energy companies have to submit a bid for a certain time frame of the following day that comprises a price and the amount of electricity at which power generation can be increased or decreased considering the expected load. Therefore, capacity allocation for the balancing market has to be considered simultaneously with the uncertain next day’s unit commitment of the CHP plant and the heat storage device. To support energy companies planning their bids, an optimization model is developed to determine the optimal bidding amount based on a forecasted market clearing price.

Keywords: Reserve Capacity; Unit Commitment; Spot Market; Bidding Strategy; Transmission System Operator (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:spr:oprchp:978-3-319-28697-6_74

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DOI: 10.1007/978-3-319-28697-6_74

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