Integrated day-ahead and intraday self-schedule bidding for energy storage systems using approximate dynamic programming

DOI10.1016/J.EJOR.2021.11.010MaRDI QIDQ2140221zbMATH OpenOpenAlexWikidataFDO

Authors Benedikt Finnah, Jochen Gönsch, Florian Ziel

Publication date 20 May 2022

Published in European Journal of Operational Research (Search for Journal in Brave)

Copyright license Creative Commons Attribution 4.0 International

Full work available at URL https://doi.org/10.1016/j.ejor.2021.11.010

zbMATH Keywords

backwards approximate dynamic programmingelectricity price forecastmultiple sequential marketsOR in energytrading for energy storage

Mathematics Subject Classification ID

Stochastic programming (90C15) Dynamic programming (90C39) Applications of mathematical programming (90C90)

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Cites work

• A unified framework for stochastic optimization
• Benchmarking a scalable approximate dynamic programming algorithm for stochastic control of grid-level energy storage
• Bidding in sequential electricity markets: the Nordic case
• Energy contracts management by stochastic programming techniques
• Energy management for stationary electric energy storage systems: a systematic literature review
• Modeling time-dependent randomness in stochastic dual dynamic programming
• On optimal participation in the electricity markets of wind power plants with battery energy storage systems
• Optimal bidding of a virtual power plant on the Spanish day-ahead and intraday market for electricity
• Optimal energy commitments with storage and intermittent supply
• Optimizing trading decisions for hydro storage systems using approximate dual dynamic programming
• Pricing American options by simulation using a stochastic mesh with optimized weights
• Sell or store? An ADP approach to marketing renewable energy
• Short-term hydropower production planning by stochastic programming
• Stochastic dynamic programming approach to managing power system uncertainty with distributed storage

Cited in

(14)

• Heuristic decision rules for short-term trading of renewable energy with co-located energy storage
• Sell or store? An ADP approach to marketing renewable energy
• Optimal hour-ahead bidding in the real-time electricity market with battery storage using approximate dynamic programming
• Day-ahead strategic bidding for advanced adiabatic compressed air energy storage plant: a Stackelberg game approach
• Optimizing trading decisions for hydro storage systems using approximate dual dynamic programming
• Optimized ensemble value function approximation for dynamic programming
• The Value of Coordination in Multimarket Bidding of Grid Energy Storage
• A sample robust optimal bidding model for a virtual power plant
• A bicriteria almost equal minimum cost flow model for day-ahead trading
• A common shock model for multidimensional electricity intraday price modelling with application to battery valuation
• A bilevel multistage stochastic self-scheduling model with indivisibilities for trading in the continuous intraday electricity market
• New biconvex optimization for planning of battery energy storage systems
• A reverse Stackelberg model for demand response in local energy markets
• Data-driven multi-stage stochastic programming models for integrated hurricane relief logistics and evacuation problem

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