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A Bicriteria Almost Equal Minimum Cost Flow Model for Day-Ahead Trading

In: Operations Research Proceedings 2022

Author

Listed:
  • E. Finhold

    (Fraunhofer Institute for Industrial Mathematics, ITWM)

  • T. Heller

    (Fraunhofer Institute for Industrial Mathematics, ITWM)

  • S. O. Krumke

    (University of Kaiserslautern)

  • N. Leithäuser

    (Fraunhofer Institute for Industrial Mathematics, ITWM)

Abstract

As the share of renewable energy and therefore the fluctuation in power generation increases, using a battery to market the power saved/used by a flexible process becomes more and more important and attractive. The charging and discharging process of a battery can be modeled as a flow model in a time-expanded graph. We model the costs for this process as edge costs between nodes that correspond to consecutive points in time. An optimal battery strategy be obtained by computing a minimum cost flow in the given network. If the charging and discharging of a battery takes place as a coupled process of a production process, a steady and even charging and discharging is often important. In this paper, we describe a bicriteria flow model based on the Almost-Equal-Minimum Cost Flow Problem (AEMCFP) in which both trading profits and a steady flow of energy are considered as the two objectives. In the AEMCFP one is given additional sets of edges on which the flow values differ at most by a given constant. We obtain a strongly polynomial algorithm based on a parametric search approach. Furthermore, we present a case study for bidding on the German day ahead market.

Suggested Citation

  • E. Finhold & T. Heller & S. O. Krumke & N. Leithäuser, 2023. "A Bicriteria Almost Equal Minimum Cost Flow Model for Day-Ahead Trading," Lecture Notes in Operations Research, in: Oliver Grothe & Stefan Nickel & Steffen Rebennack & Oliver Stein (ed.), Operations Research Proceedings 2022, chapter 0, pages 181-187, Springer.
    • Handle: RePEc:spr:lnopch:978-3-031-24907-5_22
    DOI: 10.1007/978-3-031-24907-5_22
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