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Influence of accuracy in energy system modeling to profitability analysis of pumped-storage power plants

 
: Ritter, S.; Naumann, S.; Klaiber, S.; Warweg, O.; Bretschneider, P.

:

Institute of Electrical and Electronics Engineers -IEEE-; Institute of Electrical and Electronics Engineers -IEEE-, Power & Energy Society -PES-:
11th International Conference on the European Energy Market, EEM 2014 : 28. May 2014 - 30. May 2014, Krakow, Poland
Piscataway, NJ: IEEE, 2014
ISBN: 978-1-4799-6095-8
ISBN: 978-1-4799-6094-1
Paper 356, 5 S.
International Conference on the European Energy Market (EEM) <11, 2014, Krakow>
Englisch
Konferenzbeitrag
Fraunhofer IOSB ()
electricity market modeling; energy storage; merit order principle; optimization

Abstract
In this paper, a fundamental optimization model containing the German generation and energy storage system has been used to analyze the profitability of pumped-storage power plants within the German energy market. As a result of the optimization, energy prices are calculated based on the power plants’ marginal costs according to the merit order principle. This paper demonstrates the influence of increasing model accuracy in the underlying optimization model on the optimization results, particularly regarding the profitability of pumped-storage power plants.

: http://publica.fraunhofer.de/dokumente/N-303791.html