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Pregled bibliografske jedinice broj: 1193581

Impact of the Electricity Market Prices during the COVID-19 Pandemic on Energy Storage Operation


Mandić, Marin; Sutlović, Elis; Modrić, Tonći; Stanić, Luka;
Impact of the Electricity Market Prices during the COVID-19 Pandemic on Energy Storage Operation // XVI. International research conference proceedings, irc 2022.
Istanbul, Turska, 2022. str. 16-21 (predavanje, međunarodna recenzija, cjeloviti rad (in extenso), znanstveni)


CROSBI ID: 1193581 Za ispravke kontaktirajte CROSBI podršku putem web obrasca

Naslov
Impact of the Electricity Market Prices during the COVID-19 Pandemic on Energy Storage Operation

Autori
Mandić, Marin ; Sutlović, Elis ; Modrić, Tonći ; Stanić, Luka ;

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
XVI. International research conference proceedings, irc 2022. / - , 2022, 16-21

Skup
ICAE 2022: 16. International Conference on Applied Energy

Mjesto i datum
Istanbul, Turska, 05-06.05.2022

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
Electrical market prices ; Electricity market ; Energy storage optimization ; Mixed integer linear programming (MILP) optimization

Sažetak
With the restructuring and deregulation of the power system, storage owners, generation companies or private producers can offer their multiple services on various power markets and earn income in different types of markets, such as the day-ahead, real-time, ancillary services market, etc. During the COVID-19 pandemic, electricity prices, as well as ancillary services prices, increased significantly. The optimization of the energy storage operation was performed using a suitable model for simulating the operation of a pumped storage hydropower plant under market conditions. The objective function maximizes the income earned through energy arbitration, regulation-up, regulation-down and spinning reserve services. The optimization technique used for solving the objective function is mixed integer linear programming (MILP). In numerical examples, the pumped storage hydropower plant operation has been optimized considering the already achieved hourly electricity market prices from Nord Pool for the pre-pandemic (2019) and the pandemic (2020 and 2021) years. The impact of the electricity market prices during the COVID-19 pandemic on energy storage operation is shown through the analysis of income, operating hours, reserved capacity and consumed energy for each service. The results indicate the role of energy storage during a significant fluctuation in electricity and services prices.

Izvorni jezik
Engleski

Znanstvena područja
Elektrotehnika



POVEZANOST RADA


Ustanove:
Fakultet elektrotehnike, strojarstva i brodogradnje, Split

Profili:

Avatar Url Elis Sutlović (autor)

Avatar Url Tonći Modrić (autor)

Avatar Url Marin Mandić (autor)

Poveznice na cjeloviti tekst rada:

publications.waset.org

Citiraj ovu publikaciju:

Mandić, Marin; Sutlović, Elis; Modrić, Tonći; Stanić, Luka;
Impact of the Electricity Market Prices during the COVID-19 Pandemic on Energy Storage Operation // XVI. International research conference proceedings, irc 2022.
Istanbul, Turska, 2022. str. 16-21 (predavanje, međunarodna recenzija, cjeloviti rad (in extenso), znanstveni)
Mandić, M., Sutlović, E., Modrić, T., Stanić, L. & (2022) Impact of the Electricity Market Prices during the COVID-19 Pandemic on Energy Storage Operation. U: XVI. International research conference proceedings, irc 2022..
@article{article, author = {Mandi\'{c}, Marin and Sutlovi\'{c}, Elis and Modri\'{c}, Ton\'{c}i and Stani\'{c}, Luka}, year = {2022}, pages = {16-21}, keywords = {Electrical market prices, Electricity market, Energy storage optimization, Mixed integer linear programming (MILP) optimization}, title = {Impact of the Electricity Market Prices during the COVID-19 Pandemic on Energy Storage Operation}, keyword = {Electrical market prices, Electricity market, Energy storage optimization, Mixed integer linear programming (MILP) optimization}, publisherplace = {Istanbul, Turska} }
@article{article, author = {Mandi\'{c}, Marin and Sutlovi\'{c}, Elis and Modri\'{c}, Ton\'{c}i and Stani\'{c}, Luka}, year = {2022}, pages = {16-21}, keywords = {Electrical market prices, Electricity market, Energy storage optimization, Mixed integer linear programming (MILP) optimization}, title = {Impact of the Electricity Market Prices during the COVID-19 Pandemic on Energy Storage Operation}, keyword = {Electrical market prices, Electricity market, Energy storage optimization, Mixed integer linear programming (MILP) optimization}, publisherplace = {Istanbul, Turska} }




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