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Pricing in Integrated Heat and Power Markets

Author

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  • Alvaro Gonzalez-Castellanos

    (Skolkovo Institute of Science and Technology)

  • David Pozo

    (Skolkovo Institute of Science and Technology)

  • Aldo Bischi

    (Skolkovo Institute of Science and Technology)

Abstract

There is a growing interest in the integration of energy infrastructures to increase systems' flexibility and reduce operational costs. The most studied case is the synergy between electric and heating networks. Even though integrated heat and power markets can be described by a convex optimization problem, prices derived from dual values do not guarantee cost recovery. In this work, a two-step approach is presented for the calculation of the optimal energy dispatch and prices. The proposed methodology guarantees cost-recovery for each of the energy vectors and revenue-adequacy for the integrated market.

Suggested Citation

  • Alvaro Gonzalez-Castellanos & David Pozo & Aldo Bischi, 2020. "Pricing in Integrated Heat and Power Markets," Papers 2011.10384, arXiv.org.
    • Handle: RePEc:arx:papers:2011.10384
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    References listed on IDEAS

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    1. Mitridati, Lesia & Kazempour, Jalal & Pinson, Pierre, 2020. "Heat and electricity market coordination: A scalable complementarity approach," European Journal of Operational Research, Elsevier, vol. 283(3), pages 1107-1123.
    2. Guelpa, Elisa & Bischi, Aldo & Verda, Vittorio & Chertkov, Michael & Lund, Henrik, 2019. "Towards future infrastructures for sustainable multi-energy systems: A review," Energy, Elsevier, vol. 184(C), pages 2-21.
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