An energy system optimization model accounting for the interrelations of multiple stochastic energy prices.

ABSTRACT: The variation of and the interrelation between different energy markets significantly affect the competitiveness of various energy technologies, therefore complicate the decision-making problem for a complex energy system consisting of multiple competing technologies, especially in a long-term time frame. The interrelations between these markets have not been accounted for in the existing energy system modelling efforts, leading to a distortion of understanding of the market impact on the technological choices and operations in the real world. This study investigates the strategic and operational decision-making problem for such an energy system characterized by three competing technologies from crude oil, natural gas, and coal. A stochastic programming model is constructed by incorporatin

SUBMITTER: Ren H 

PROVIDER: S-EPMC8404032 | biostudies-literature | 2022

REPOSITORIES: biostudies-literature