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A data-driven optimization framework for industrial demand-side flexibility

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  • Manna, Carlo
  • Lahariya, Manu
  • Karami, Farzaneh
  • Develder, Chris

Abstract

Securing profits while offering industrial demand-side flexibility in both energy and reserve markets is critical to ensure the profitability of energy-intensive industrial plants to make available their flexible assets in the electricity markets and hence accelerating the energy transition. Proposing efficient bidding strategies for simultaneous participation in the energy and reserve market is challenging since it requires the integration of different market mechanisms in a single optimization problem (combining energy and reserve markets), as well as an accurate mathematical model of industrial processes from which to obtain energy flexibility. Often, such mathematical models are either not available or are described through complex simulators, making the design of a computationally efficient bidding strategy a complicated task.

Suggested Citation

  • Manna, Carlo & Lahariya, Manu & Karami, Farzaneh & Develder, Chris, 2023. "A data-driven optimization framework for industrial demand-side flexibility," Energy, Elsevier, vol. 278(C).
    • Handle: RePEc:eee:energy:v:278:y:2023:i:c:s0360544223011313
    DOI: 10.1016/j.energy.2023.127737
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    References listed on IDEAS

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