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Energy Storage in Energy Markets

Energy Storage in Energy Markets
A Book

by Behnam Mohammadi-Ivatloo,Amin Mohammadpour Shotorbani,Amjad Anvari-Moghaddam

  • Publisher : Elsevier
  • Release : 2021-05-17
  • Pages : 490
  • ISBN : 0128200952
  • Language : En, Es, Fr & De
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Energy Storage in Energy Markets reviews the modeling, design, analysis, optimization and impact of energy storage systems in energy markets in a way that is ideal for an audience of researchers and practitioners. The book provides deep insights on potential benefits and revenues, economic evaluation, investment challenges, risk analysis, technical requirements, and the impacts of energy storage integration. Heavily referenced and easily accessible to policymakers, developers, engineer, researchers and students alike, this comprehensive resource aims to fill the gap in the role of energy storage in pool/local energy/ancillary service markets and other multi-market commerce. Chapters elaborate on energy market fundamentals, operations, energy storage fundamentals, components, and the role and impact of storage systems on energy systems from different aspects, such as environmental, technical and economics, the role of storage devices in uncertainty handling in energy systems and their contributions in resiliency and reliability improvement. Provides integrated techno-economic analysis of energy storage systems and the energy markets Reviews impacts of electric vehicles as moving energy storage and loads on the electricity market Analyzes the role and impact of energy storage systems in the energy, ancillary, reserve and regulatory multi-market business Applies advanced methods to the economic integration of large-scale energy storage systems Develops an evaluation framework for energy market storage systems

Uncertainties in energy markets and their consideration in energy storage evaluation

Uncertainties in energy markets and their consideration in energy storage evaluation

by Keles, Dogan

  • Publisher : KIT Scientific Publishing
  • Release : 2014-05-22
  • Pages : 257
  • ISBN : 3731500469
  • Language : En, Es, Fr & De
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Batteries in Electricity Markets

Batteries in Electricity Markets
Economic Planning and Operations

by Bolun Xu

  • Publisher : Unknown Publisher
  • Release : 2018
  • Pages : 124
  • ISBN : 9876543210XXX
  • Language : En, Es, Fr & De
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Batteries have been storing electricity for mankind since 1800, while it is till recently that grid-scale battery energy storage become commercially viable and are seeking merchant opportunities in electricity markets. Battery energy storage have faster ramp speed compared to other types of generation units, and are extremely valuable for facilitating the integration of renewable energy resources. Battery energy storage can provide arbitrage and ancillary services in the electricity market. However, even though nowadays battery energy storage systems are constructed and operated with mature technologies, it remains an open question on how to operates them economically in electricity market to maximize the investment profit. This dissertation covers the optimal planning, scheduling, and operation for battery energy storage in electricity markets. It shows that the degradation mechanism of electrochemical battery cells must be considered in market bidding and operation strategies to maximize the participant's operating profit, and proposes optimal methods to incorporate the cost of battery degradation into different participation stages and markets. For frequency regulation markets, this dissertation proposes a real-time control policy that optimally trades-off the performance penalty and the degradation cost in frequency regulation operations. A optimal bidding policy is designed based on the proposed control policy to maximize participant's market profit while maintaining satisfactory operation performance. For energy markets, this dissertation designs a piece-wise linear model that accurately incorporates battery degradation cost into dispatch optimization and bidding strategies. Finally, this dissertation proposes a bi-level planning model to optimize the location and rating of battery energy storage systems considering both energy and reserve markets. This model ensures the profitability of investments in energy storage by enforcing a rate of return constraint. This model is tested on a 240-bus model of the Western Electricity Coordinating Council (WECC) system, and the result analyzes the effects of different storage technologies, rate of return requirements, and regulation market policies on ES participation on the optimal storage investment decisions.

Energy Storage in Energy Markets

Energy Storage in Energy Markets
Uncertainties, Modelling, Analysis and Optimization

by Behnam Mohammadi-Ivatloo,Amin Mohammadpour Shotorbani,Amjad Anvari-Moghaddam

  • Publisher : Academic Press
  • Release : 2021-04-30
  • Pages : 490
  • ISBN : 0128203838
  • Language : En, Es, Fr & De
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Energy Storage in Energy Markets reviews the modeling, design, analysis, optimization and impact of energy storage systems in energy markets in a way that is ideal for an audience of researchers and practitioners. The book provides deep insights on potential benefits and revenues, economic evaluation, investment challenges, risk analysis, technical requirements, and the impacts of energy storage integration. Heavily referenced and easily accessible to policymakers, developers, engineer, researchers and students alike, this comprehensive resource aims to fill the gap in the role of energy storage in pool/local energy/ancillary service markets and other multi-market commerce. Chapters elaborate on energy market fundamentals, operations, energy storage fundamentals, components, and the role and impact of storage systems on energy systems from different aspects, such as environmental, technical and economics, the role of storage devices in uncertainty handling in energy systems and their contributions in resiliency and reliability improvement. Provides integrated techno-economic analysis of energy storage systems and the energy markets Reviews impacts of electric vehicles as moving energy storage and loads on the electricity market Analyzes the role and impact of energy storage systems in the energy, ancillary, reserve and regulatory multi-market business Applies advanced methods to the economic integration of large-scale energy storage systems Develops an evaluation framework for energy market storage systems

Latent Heat-Based Thermal Energy Storage Systems

Latent Heat-Based Thermal Energy Storage Systems
Materials, Applications, and the Energy Market

by Amritanshu Shukla,Atul Sharma,Pascal Henry Biwolé

  • Publisher : CRC Press
  • Release : 2020-09-27
  • Pages : 354
  • ISBN : 1000586936
  • Language : En, Es, Fr & De
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In light of increasing human-induced global climate change, there is a greater need for clean energy resources and zero carbon projects. This new volume offers up-to-date coverage of the fundamentals as well as recent advancements in energy efficient thermal energy storage materials, their characterization, and technological applications. Thermal energy storage (TES) systems offer very high-energy savings for many of our day-to-day applications and could be a strong component for enhancing the usage of renewable/clean energy-based devices. Because of its beneficial environmental impact, this technology has received wide attention in the recent past, and dedicated research efforts have led to the development of novel materials, as well to innovative applications in very many fields, ranging from buildings to textile, healthcare to agriculture, space to automobiles. This book offers a valuable and informed systematic treatment of latent heat-based thermal energy storage systems, covering current energy research and important developmental work.

Renewable Energy Storage

Renewable Energy Storage
Its Role in Renewable and Future Electricity Markets

by PEP (Professional Engineering Publishers)

  • Publisher : Wiley
  • Release : 2005-02-11
  • Pages : 64
  • ISBN : 9781860583063
  • Language : En, Es, Fr & De
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It has been frequently stated that energy storage is an essential requirement if significant generation by renewables is to be achieved, but are the present systems likely to be adequate? This text reviews the present status and future potential of the different systems of energy storage, their role in power generation by renewables specifically, and the electricty market generally.

Energy Markets and Responsive Grids

Energy Markets and Responsive Grids
Modeling, Control, and Optimization

by Sean Meyn,Tariq Samad,Ian Hiskens,Jakob Stoustrup

  • Publisher : Springer
  • Release : 2018-06-09
  • Pages : 518
  • ISBN : 1493978225
  • Language : En, Es, Fr & De
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This volume consists of selected essays by participants of the workshop Control at Large Scales: Energy Markets and Responsive Grids held at the Institute for Mathematics and its Applications, Minneapolis, Minnesota, U.S.A. from May 9-13, 2016. The workshop brought together a diverse group of experts to discuss current and future challenges in energy markets and controls, along with potential solutions. The volume includes chapters on significant challenges in the design of markets and incentives, integration of renewable energy and energy storage, risk management and resilience, and distributed and multi-scale optimization and control. Contributors include leading experts from academia and industry in power systems and markets as well as control science and engineering. This volume will be of use to experts and newcomers interested in all aspects of the challenges facing the creation of a more sustainable electricity infrastructure, in areas such as distributed and stochastic optimization and control, stability theory, economics, policy, and financial mathematics, as well as in all aspects of power system operation.

Quantitative and Empirical Analysis of Energy Markets

Quantitative and Empirical Analysis of Energy Markets
A Book

by Apostolos Serletis

  • Publisher : World Scientific
  • Release : 2007
  • Pages : 304
  • ISBN : 9812770461
  • Language : En, Es, Fr & De
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Bringing together leading-edge research and innovative energy markets econometrics, this book collects the authorOCOs most important recent contributions in energy economics. In particular, the book: . OCo applies recent advances in the field of applied econometrics to investigate a number of issues regarding energy markets, including the theory of storage and the efficient markets hypothesis. OCo presents the basic stylized facts on energy price movements using correlation analysis, causality tests, integration theory, cointegration theory, as well as recently developed procedures for testing for shared and codependent cycles. OCo uses recent advances in the financial econometrics literature to model time-varying returns and volatility in energy prices and to test for causal relationships between energy prices and their volatilities. OCo explores the functioning of electricity markets and applies conventional models of time series analysis to investigate a number of issues regarding wholesale power prices in the western North American markets. OCo applies tools from statistics and dynamical systems theory to test for nonlinear dynamics and deterministic chaos in a number of North American hydrocarbon markets (those of ethane, propane, normal butane, iso-butane, naptha, crude oil, and natural gas)."

The Value of Energy Storage for Grid Applications

The Value of Energy Storage for Grid Applications
A Book

by Anonim

  • Publisher : Unknown Publisher
  • Release : 2013
  • Pages : 45
  • ISBN : 9876543210XXX
  • Language : En, Es, Fr & De
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This analysis evaluates several operational benefits of electricity storage, including load-leveling, spinning contingency reserves, and regulation reserves. Storage devices were simulated in a utility system in the western United States, and the operational costs of generation was compared to the same system without the added storage. This operational value of storage was estimated for devices of various sizes, providing different services, and with several sensitivities to fuel price and other factors. Overall, the results followed previous analyses that demonstrate relatively low value for load-leveling but greater value for provision of reserve services. The value was estimated by taking the difference in operational costs between cases with and without energy storage and represents the operational cost savings from deploying storage by a traditional vertically integrated utility. The analysis also estimated the potential revenues derived from a merchant storage plant in a restructured market, based on marginal system prices. Due to suppression of on-/off-peak price differentials and incomplete capture of system benefits (such as the cost of power plant starts), the revenue obtained by storage in a market setting appears to be substantially less than the net benefit provided to the system. This demonstrates some of the additional challenges for storage deployed in restructured energy markets.

Energy Storage at Different Voltage Levels

Energy Storage at Different Voltage Levels
Technology, Integration, and Market Aspects

by Ahmed F. Zobaa,Paulo F. Ribeiro,Shady H. E. Abdel Aleem,Sara N. Afifi

  • Publisher : Unknown Publisher
  • Release : 2018
  • Pages : 129
  • ISBN : 9781523121090
  • Language : En, Es, Fr & De
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The book consists of 12 chapters and discusses the following topics: overview of energy storage technologies; energy storage systems: technology, integration and market; energy storages in microgrids; energy storage in electricity markets; the role of storage in transmission investment deferral and management of future planning uncertainty; sizing of battery energy storage for end-user applications under time of use pricing; assessment and optimization of energy storage benefits in distribution networks; case studies from selected countries Romania and Italy; case studies from selected countries the USA; the use and role of flywheel energy storage systems; forecasting and optimisation for multi-purpose application of energy storage systems to deliver grid services: case study of the smarter network storage project; optimal coordination between generation and storage under uncertainties.

The Value of Energy Storage for Grid Applications

The Value of Energy Storage for Grid Applications
A Book

by Paul Denholm

  • Publisher : Unknown Publisher
  • Release : 2013
  • Pages : 37
  • ISBN : 9876543210XXX
  • Language : En, Es, Fr & De
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This analysis evaluates several operational benefits of electricity storage, including load-leveling, spinning contingency reserves, and regulation reserves. Storage devices were simulated in a utility system in the western United States, and the operational costs of generation was compared to the same system without the added storage. This operational value of storage was estimated for devices of various sizes, providing different services, and with several sensitivities to fuel price and other factors. Overall, the results followed previous analyses that demonstrate relatively low value for load-leveling but greater value for provision of reserve services. The value was estimated by taking the difference in operational costs between cases with and without energy storage and represents the operational cost savings from deploying storage by a traditional vertically integrated utility. The analysis also estimated the potential revenues derived from a merchant storage plant in a restructured market, based on marginal system prices. Due to suppression of on-/off-peak price differentials and incomplete capture of system benefits (such as the cost of power plant starts), the revenue obtained by storage in a market setting appears to be substantially less than the net benefit provided to the system. This demonstrates some of the additional challenges for storage deployed in restructured energy markets.

Impact of Wind and Solar on the Value of Energy Storage

Impact of Wind and Solar on the Value of Energy Storage
A Book

by Anonim

  • Publisher : Unknown Publisher
  • Release : 2013
  • Pages : 40
  • ISBN : 9876543210XXX
  • Language : En, Es, Fr & De
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This analysis evaluates how the value of energy storage changes when adding variable generation (VG) renewable energy resources to the grid. A series of VG energy penetration scenarios from 16% to 55% were generated for a utility system in the western United States. This operational value of storage (measured by its ability to reduce system production costs) was estimated in each VG scenario, considering provision of different services and with several sensitivities to fuel price and generation mix. Overall, the results found that the presence of VG increases the value of energy storage by lowering off-peak energy prices more than on-peak prices, leading to a greater opportunity to arbitrage this price difference. However, significant charging from renewables, and consequently a net reduction in carbon emissions, did not occur until VG penetration was in the range of 40%-50%. Increased penetration of VG also increases the potential value of storage when providing reserves, mainly by increasing the amount of reserves required by the system. Despite this increase in value, storage may face challenges in capturing the full benefits it provides. Due to suppression of on-/off-peak price differentials, reserve prices, and incomplete capture of certain system benefits (such as the cost of power plant starts), the revenue obtained by storage in a market setting appears to be substantially less than the net benefit (reduction in production costs) provided to the system. Furthermore, it is unclear how storage will actually incentivize large-scale deployment of renewables needed to substantially increase VG penetration. This demonstrates some of the additional challenges for storage deployed in restructured energy markets.

Electric Energy Storage Systems

Electric Energy Storage Systems
Flexibility Options for Smart Grids

by Przemyslaw Komarnicki,Pio Lombardi,Zbigniew Styczynski

  • Publisher : Springer
  • Release : 2018-08-15
  • Pages : 211
  • ISBN : 9783662571255
  • Language : En, Es, Fr & De
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The book describes methods of modeling, planning and implementing electric energy storage systems. Energy storage becomes an important issue when more and more electric power is generated by wind mills and photovoltaics systems, because green energy is more volatile. So energy storage is necessary to guarantee safe and secure electric energy supply.Market and power system oriented operations of electric energy storage require different planning methods and different algorithms for searching the optimal solution. These methods are described in detail for energy storage implementations in generation, transmission and distribution levels. Economic aspects are considered.For many years, the authors have been developing smart grid solutions as well as a methology of modeling and planning electric energy storage usage. The aim has been to increase the flexibility of the power system heading for an energy system which is completely generated by green energy.

A Framework to Model and Optimize the Operation of Lithium-ion Energy Storage in Electricity Markets, and an Assessment of Lithium-ion Energy Storage in Texas

A Framework to Model and Optimize the Operation of Lithium-ion Energy Storage in Electricity Markets, and an Assessment of Lithium-ion Energy Storage in Texas
A Book

by Robert Leo Fares

  • Publisher : Unknown Publisher
  • Release : 2015
  • Pages : 442
  • ISBN : 9876543210XXX
  • Language : En, Es, Fr & De
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The lithium-ion (Li-ion) battery has become an established technology in portable electronics and electric vehicle applications. At the same time, there is rising interest in grid-based battery energy storage to improve the flexibility of the electric grid and integrate intermittent sources of renewable energy. To provide information for energy storage developers, battery system operators, state policymakers, and the general public, this research develops a framework to characterize, operate, and evaluate Li-ion battery energy storage that is connected to the electric grid and participates in a wholesale electricity market. Methods are developed to characterize and model the voltage, temperature, and capacity degradation behavior of a Li-ion battery system. Then, an optimization program is developed to schedule Li-ion storage in an electricity market while modeling and controlling its operating state and rate of capacity loss. The optimization framework is used to simulate operation of Li-ion storage in Texas's Electric Reliability Council of Texas (ERCOT) electricity from 2002-2014, and the market revenue potential and operating lifetime of Li-ion storage are approximated. It is shown that controlling capacity degradation in operational management can extend the lifetime of Li-ion battery modules by approximately 30-60% without significantly reducing market revenue potential. To test the reliability impact of distributed Li-ion storage, residential electricity data are used to approximate how long a battery system could isolate downstream electricity customers during an outage. Thousands of outage events are simulated to show the expected islanding duration for outages occurring at different times of day. The potential reliability benefit from avoided residential electric outages is calculated and found to be much smaller than the revenue potential from the electricity market, indicating that market applications should be prioritized over residential reliability applications in siting and operating a battery system. It is found that the net-present value (NPV) of a Li-ion battery system providing wholesale energy arbitrage in the ERCOT market is negative across a range of cost and benefit parameters. However, controlling capacity degradation in operational management of the battery system is found to increase its value by approximately $100/kWh of rated energy capacity. The NPV of a battery system providing a combination of energy and Fast Responding Regulation Service (FRRS) is found to be positive across a wide range of cost and benefit parameters, indicating a Li-ion battery system could most likely provide a combination of energy and FRRS service to the ERCOT electricity market at a profit. Controlling capacity degradation in operational management of the battery system for energy and FRRS is found to have little impact on its NPV. However, controlling capacity loss makes the NPV less sensitive to variation in the lifetime of the battery modules, reducing the risks associated with premature battery cell failure.

Handbook on Electricity Markets

Handbook on Electricity Markets
A Book

by Jean-Michel Glachant,Paul L. Joskow,Michael G. Pollitt

  • Publisher : Edward Elgar Publishing
  • Release : 2021-11-28
  • Pages : 608
  • ISBN : 9781788979948
  • Language : En, Es, Fr & De
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With twenty-two chapters written by leading international experts, this volume represents the most detailed and comprehensive Handbook on electricity markets ever published. It covers all dimensions of electricity markets: wholesale and retail; renewable electricity sources; the electrification of mobility, heating and cooling; and recent innovations such as distributed generation, electrical energy storage, demand response and digital platforms that are disrupting the industry. The benefits, as well as the limits, of open markets and competition are assessed at the level of underlying principles and with reference to specific cases, including the UK, PJM Interconnection, Texas, Australia, Scandinavia, continental Europe and China. The details of electricity market designs are analysed and discussed. The book also considers new emerging business models, as well as the impact of electricity sector policy priorities such as universal access and deep decarbonization. This Handbook is intended to be used and useful. Students and young professionals will find the information they need to enter the field. Researchers, experienced professionals and public decision-makers will get a comprehensive update on the topical issues in electricity markets that will guide them through the important developments the sector is witnessing.

Modelling and Analysing the Integration of Flexible Demand and Energy Storage in Electricity Markets

Modelling and Analysing the Integration of Flexible Demand and Energy Storage in Electricity Markets
A Book

by Yujian Ye

  • Publisher : Unknown Publisher
  • Release : 2016
  • Pages : 129
  • ISBN : 9876543210XXX
  • Language : En, Es, Fr & De
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Demand Response and Battery Energy Storage Systems in Electricity Markets

Demand Response and Battery Energy Storage Systems in Electricity Markets
Frameworks & Models

by Nitin Padmanabhan

  • Publisher : Unknown Publisher
  • Release : 2019
  • Pages : 129
  • ISBN : 9876543210XXX
  • Language : En, Es, Fr & De
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Ensuring a balance between the generation and demand is one of the most challenging tasks in power systems because of contingencies, sudden load changes, forecasting errors and other disturbances, occurring from time to time. The peak demand, which occurs only for a short duration, has always been a concern for independent system operators (ISOs), as it leads to high market prices and reliability concerns. Furthermore, in recent years there have been significant increase in the penetration of renewable energy sources (RES) to address the challenge of significantly reducing carbon dioxide (CO2) and other greenhouse gas (GHG) emissions and the system's dependence on fossil fuels based generation resources. However, the high penetration of RES, because of their intermittency and uncertainty, poses operational and reliability issues and thus necessitates an increase in the procurement and deployment of primary and secondary regulation reserves, as well as spinning and non-spinning reserves. In recent years, demand response (DR) and battery energy storage systems (BESS), because of their characteristic features such as fast response time, high ramp rate, and the ability to provide flexible upward and downward response as compared to conventional generators, have been considered as promising and viable options by the ISO to reduce the peak demand, facilitate RES integration and for the provision of ancillary services, such as regulation and spinning reserves. Despite the benefits and the growth opportunities of DR and BESS, there are still many challenges associated with their market participation. To address the challenges pertaining to DR and BESS participation in electricity markets, this thesis proposes appropriate models and frameworks, which can efficiently integrate these resources into the day-ahead and real-time electricity markets, and at the same time effectively address the aforementioned challenges of ISOs. This thesis first presents a new bid/offer structure for DR provisions, simultaneously through price responsive demand (PRD) based bids and load curtailment based DR offers from customers. Thereafter, incorporating the DR offer structure, a novel day-ahead, co-optimizing market auction framework and mathematical model for DR-energy-spinning reserve market, based on LMPs, which includes transmission loss representation within the dc power flow constraints is proposed. The impact of DR on both energy and spinning reserve market prices, market dispatch, line congestions, and other economic indicators, is studied using the IEEE Reliability Test System (RTS), by considering various scenarios and cases. In the next stage, the thesis considers the BESS participation in the day-ahead markets. First, a novel BESS cost function model, considering Degradation Cost, based on depth of discharge (DOD) and discharge rate, and Flexibility Cost, in terms of the battery power-to-energy (P/E) ratio, is presented. A detailed bid/offer structure based on the proposed cost functions is formulated. Thereafter, a new framework and mathematical model for BESS participation in an LMP-based, co-optimized, day-ahead energy and spinning reserve market, have been developed. Three case studies are presented to investigate the impact of BESS participation on system operation and market settlement. The proposed model is validated on the IEEE RTS to demonstrate its functionalities. Finally, the thesis considers BESS participation in the real-time operations. Firstly, a novel framework for simultaneously procuring primary and secondary regulation reserves alongside energy, in a BESS integrated electricity market, by taking into account probabilistic scenarios of contingencies, is proposed. Thereafter, an appropriate mathematical model is developed considering BESS alongside conventional generators to determine the optimal real-time primary and secondary regulation reserves and energy market clearing, in a co-optimized, LMP based market, taking into consideration the a priori cleared day- ahead market schedules. Lastly, the impact of participation of BESS in day-ahead and real-time energy and reserve markets on prices, market clearing dispatch, and other economic indicators are investigated using the IEEE RTS, for various scenarios and cases.

Managing Energy Risk

Managing Energy Risk
An Integrated View on Power and Other Energy Markets

by Markus Burger,Bernhard Graeber,Gero Schindlmayr

  • Publisher : John Wiley & Sons
  • Release : 2014-09-09
  • Pages : 448
  • ISBN : 1118618637
  • Language : En, Es, Fr & De
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An overview of today's energy markets from a multi-commodity perspective As global warming takes center stage in the public and private sectors, new debates on the future of energy markets and electricity generation have emerged around the world. The Second Edition of Managing Energy Risk has been updated to reflect the latest products, approaches, and energy market evolution. A full 30% of the content accounts for changes that have occurred since the publication of the first edition. Practitioners will appreciate this contemporary approach to energy and the comprehensive information on recent market influences. A new chapter is devoted to the growing importance of renewable energy sources, related subsidy schemes and their impact on energy markets. Carbon emissions certificates, post-Fukushima market shifts, and improvements in renewable energy generation are all included. Further, due to the unprecedented growth in shale gas production in recent years, a significant amount of material on gas markets has been added in this edition. Managing Energy Risk is now a complete guide to both gas and electricity markets, and gas-specific models like gas storage and swing contracts are given their due. The unique, practical approach to energy trading includes a comprehensive explanation of the interactions and relations between all energy commodities. Thoroughly revised to reflect recent changes in renewable energy, impacts of the financial crisis, and market fluctuations in the wake of Fukushima Emphasizes both electricity and gas, with all-new gas valuation models and a thorough description of the gas market Written by a team of authors with theoretical and practical expertise, blending mathematical finance and technical optimization Covers developments in the European Union Emissions Trading Scheme, as well as coal, oil, natural gas, and renewables The latest developments in gas and power markets have demonstrated the growing importance of energy risk management for utility companies and energy intensive industry. By combining energy economics models and financial engineering, Managing Energy Risk delivers a balanced perspective that captures the nuances in the exciting world of energy.

Distributed Energy Resources Management

Distributed Energy Resources Management
A Book

by Pedro Faria

  • Publisher : MDPI
  • Release : 2019-03-21
  • Pages : 236
  • ISBN : 3038977187
  • Language : En, Es, Fr & De
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At present, the impact of distributed energy resources in the operation of power and energy systems is unquestionable at the distribution level, but also at the whole power system management level. Increased flexibility is required to accommodate intermittent distributed generation and electric vehicle charging. Demand response has already been proven to have a great potential to contribute to an increased system efficiency while bringing additional benefits, especially to the consumers. Distributed storage is also promising, e.g., when jointly used with the currently increasing use of photovoltaic panels. This book addresses the management of distributed energy resources. The focus includes methods and techniques to achieve an optimized operation, to aggregate the resources, namely, by virtual power players, and to remunerate them. The integration of distributed resources in electricity markets is also addressed as a main drive for their efficient use.

Value of Energy Storage for Grid Applications (Report Summary) (Presentation).

Value of Energy Storage for Grid Applications (Report Summary) (Presentation).
A Book

by Anonim

  • Publisher : Unknown Publisher
  • Release : 2013
  • Pages : 36
  • ISBN : 9876543210XXX
  • Language : En, Es, Fr & De
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This analysis evaluates several operational benefits of electricity storage, including load-leveling, spinning contingency reserves, and regulation reserves. Storage devices were simulated in a utility system in the western United States, and the operational costs of generation was compared to the same system without the added storage. This operational value of storage was estimated for devices of various sizes, providing different services, and with several sensitivities to fuel price and other factors. Overall, the results followed previous analyses that demonstrate relatively low value for load-leveling but greater value for provision of reserve services. The value was estimated by taking the difference in operational costs between cases with and without energy storage and represents the operational cost savings from deploying storage by a traditional vertically integrated utility. The analysis also estimated the potential revenues derived from a merchant storage plant in a restructured market, based on marginal system prices. Due to suppression of on-/off-peak price differentials and incomplete capture of system benefits (such as the cost of power plant starts), the revenue obtained by storage in a market setting appears to be substantially less than the net benefit provided to the system. This demonstrates some of the additional challenges for storage deployed in restructured energy markets.