Short-Term Optimization of Storage Power Plant Operation under Market Conditions

2016 IEEE 16th International Conference on Environment and Electrical Engineering (EEEIC 2016) 2016
Kārlis Baltputnis, Zane Broka, Antans Sauļus Sauhats, Romāns Petričenko

This paper deals with the optimization of storage power plant operation with a particular focus on market situation in the Latvian bidding area of the Nord Pool. Some currently already available storage options such as hydropower are considered, but attention is given to an emerging technology – hydrogen storage – as well. An algorithm for storage plant scheduling optimization is devised. In the case study, it is concluded that both technologies are capable of exploiting the price spread in the day-ahead electricity market. Another operational strategy apart from the price arbitrage is studied in this paper as well – cooperation with wind farms. Coordinated operation allows to decrease expenses caused by inaccurate wind generation forecasts.

Keywords
energy storage; hydrogen; hydropower; optimization; pumped storage
DOI
10.1109/EEEIC.2016.7555466
Hyperlink
http://ieeexplore.ieee.org/document/7555466/

Baltputnis, K., Broka, Z., Sauhats, A., Petričenko, R. Short-Term Optimization of Storage Power Plant Operation under Market Conditions. In: 2016 IEEE 16th International Conference on Environment and Electrical Engineering (EEEIC 2016), Italy, Florence, 7-10 June, 2016. Piscataway, NJ: IEEE, 2016, pp.250-255. ISBN 978-1-5090-2321-9. e-ISBN 978-1-5090-2320-2. Available from: doi:10.1109/EEEIC.2016.7555466

Publication language
English (en)