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Simplified model of integrated paper mill for optimal bidding in energy and reserve markets

Applied energy, 2020-12, Vol.279 [Peer Reviewed Journal]

ISSN: 1872-9118 ;ISSN: 0306-2619 ;EISSN: 1872-9118 ;DOI: 10.1016/j.apenergy.2020.115857

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Title:
Simplified model of integrated paper mill for optimal bidding in energy and reserve markets
Author: Herre, Lars ; Tomasini, Federica ; Paridari, Kaveh ; Söder, Lennart ; Nordström, Lars
Subjects: alternative energy ; Ancillary services ; Boilers ; building ; Capacity ; Commerce ; Cost minimization ; electricity generation ; Energy ; energy market ; Flexibility ; Frequency reserves ; Industrial consumers ; Industrial demand response ; Industrial processs ; Inherent flexibility ; integrated approach ; Optimal bidding ; optimization ; Paper and pulp mills ; Paper Mills ; Papermaking machinery ; price dynamics ; Price uncertainty ; profitability ; Pulp ; pulp and paper industry ; Pulp and paper mill ; Pulp manufacture ; Renewable energy resources ; residential energy ; Stochastic optimization ; Stochastic problems ; Stochastic systems ; Sweden ; Variable renewable energies
Is Part Of: Applied energy, 2020-12, Vol.279
Description: Due to the increased use of variable renewable energy sources, more capacity for reserves is required. Non-generating resources such as large industrial consumers can arbitrage energy prices and provide reserve capacity by exploiting the inherent flexibility in selected industrial processes. A large enough industrial consumer can capitalize on this flexibility through optimized bidding in electricity markets. In this work, the day-ahead cost minimization of a risk-averse pulp and paper mill is formulated as a two-stage stochastic problem, considering thermodynamic and electrical constraints. The bids in the energy and reserve markets are jointly optimized subject to price uncertainty as well as uncertainty of frequency realization. The results of a case study in Sweden display a significant economic benefit in exploiting the flexibility of integrated pulp and paper mills with electric boilers. The expected cost of the pulp and paper mill resulting from different strategies are compared and the risk-aversion of the pulp and paper mill is investigated. Reserve offers are mainly facilitated by fast-acting electric boilers and supported by flexibility in the steam network. We show that reserve offers can significantly improve the profitability of the pulp and paper mill.
Language: English
Identifier: ISSN: 1872-9118
ISSN: 0306-2619
EISSN: 1872-9118
DOI: 10.1016/j.apenergy.2020.115857
Source: SWEPUB Freely available online

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Simplified model of integrated paper mill for optimal bidding in energy and reserve markets

ISSN: 1872-9118 ;ISSN: 0306-2619 ;EISSN: 1872-9118 ;DOI: 10.1016/j.apenergy.2020.115857

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