Optimal bidding strategy of a gas-fired power plant in interdependent low-carbon electricity and natural gas markets

Dimitriadis, Christos N.; Tsimopoulos, Evangelos G.; Georgiadis, Michael C.

doi:10.1016/j.energy.2023.127710

Cited by 38 publications

(2 citation statements)

References 24 publications

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“…In this complex market environment, gas-fired power plants must adopt optimal bidding strategies to remain competitive and comply with low-carbon policies. A study on the optimal bidding strategy of a gas-fired power plant in interdependent low-carbon electricity and natural gas markets provides crucial insights into how these plants can navigate market dynamics effectively [24]. This research underscores the importance of aligning operational strategies with market conditions and regulatory frameworks to optimize economic outcomes while meeting emissions-reduction targets.…”

Section: Natural Gas Market Characterizationmentioning

confidence: 99%

Exploring Flexibility Potential of Energy-Intensive Industries in Energy Markets

Luciani,

Cruz,

Ballestin

et al. 2024

Energies

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The European Union, in pursuit of the goal of reducing emissions by at least 55% by 2030 and achieving climate neutrality by 2050, is deploying different actions, with industry decarbonization as a key strategy. However, increasing electricity demand requires an intensification of energy generation from clean technologies, and the energy system’s expansion is hindered by renewable generation’s climatic dependencies and the imperative for substantial electrical infrastructure investments. Although the transmission grid is expected to grow, flexibility mechanisms and innovative technologies need to be applied to avoid an overwhelming growth. In this context, this paper presents a thorough assessment, conducted within the FLEXINDUSTRIES project, of the flexibility potential across seven energy-intensive industries (automotive industry, biofuel production, polymer manufacturing, steel manufacturing, paper mills, pharmaceutical industry, and cement production). The methodology followed during the analysis entails reviewing the state-of-the-art existing flexibility mechanisms, industries’ energy markets engagement, and technical/operational readiness. The results highlight the feasibility of the proposed actions for enabling energy market flexibility through demand-response programs, quantifying energy opportunities, and pinpointing regulatory and technical barriers.

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Section: Natural Gas Market Characterizationmentioning

confidence: 99%

Exploring Flexibility Potential of Energy-Intensive Industries in Energy Markets

Luciani,

Cruz,

Ballestin

et al. 2024

Energies

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show abstract

“…In recent years, with the gradual advancement of power systems towards intelligence and increased attention to carbon emissions issues, new research has emerged. For example, Reference [6] investigates the market equilibrium issues of the electricity market under the consideration of carbon market factors. Meanwhile, Reference [7] analyzes the scenario where the electricity and carbon markets operate in coordination.…”

Section: Introductionmentioning

confidence: 99%

Non-Cooperative Bidding Game Strategies of Power Generation Companies in the Electricity-Carbon Market Environment

Sun,

Zhang,

Zhao

et al. 2024

E3S Web Conf.

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This research scrutinizes the non-cooperative bidding strategies of power generation firms within the integrated electricity and carbon market framework. It aims to furnish pivotal insights for market strategy formulation and underpin policy development toward a greener power sector. Key innovations include a non-cooperative game model elucidating the interplay and competitive conduct among power providers in dual markets, alongside an empirical analysis showcasing how strategic bidding influences economic and environmental outcomes. This study significantly contributes to understanding market dynamics in promoting sustainable and environmentally sound power systems.

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Risk-aware microgrid operation and participation in the day-ahead electricity market

Herding,

Ross,

Jones

et al. 2024

Advances in Applied Energy

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Optimal bidding strategy of a gas-fired power plant in interdependent low-carbon electricity and natural gas markets

Cited by 38 publications

References 24 publications

Exploring Flexibility Potential of Energy-Intensive Industries in Energy Markets

Exploring Flexibility Potential of Energy-Intensive Industries in Energy Markets

Non-Cooperative Bidding Game Strategies of Power Generation Companies in the Electricity-Carbon Market Environment

Risk-aware microgrid operation and participation in the day-ahead electricity market

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