Quantifying the potential economic benefits of flexible industrial demand in the European power system

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Title: Quantifying the potential economic benefits of flexible industrial demand in the European power system
Authors: Papadaskalopoulos, D
Moreira, R
Strbac, G
Pudjianto, D
Djapic, P
Teng, F
Papapetrou, M
Item Type: Journal Article
Abstract: The envisaged decarbonization of the European power system introduces complex techno-economic challenges to its operation and development. Demand flexibility can significantly contribute in addressing these challenges and enable a cost-effective transition to the low-carbon future. Although extensive previous work has analyzed the impacts of residential and commercial demand flexibility, the respective potential of the industrial sector has not yet been thoroughly investigated despite its large size. This paper presents a novel, whole-system modeling framework to comprehensively quantify the potential economic benefits of flexible industrial demand (FID) for the European power system. This framework considers generation, transmission and distribution sectors of the system, and determines the least-cost long-term investment and short-term operation decisions. FID is represented through a generic, process-agnostic model, which however accounts for fixed energy requirements and load recovery effects associated with industrial processes. The numerical studies demonstrate multiple significant value streams of FID in Europe, including capital cost savings by avoiding investments in additional generation and transmission capacity and distribution reinforcements, as well as operating cost savings by enabling higher utilization of renewable generation sources and providing balancing services.
Issue Date: 1-Nov-2018
Date of Acceptance: 12-Feb-2018
URI: http://hdl.handle.net/10044/1/57499
DOI: https://dx.doi.org/10.1109/TII.2018.2811734
ISSN: 1551-3203
Publisher: Institute of Electrical and Electronics Engineers
Start Page: 5123
End Page: 5132
Journal / Book Title: IEEE Transactions on Industrial Informatics
Volume: 14
Issue: 11
Copyright Statement: © 2018 IEEE. Personal use of this material is permitted. Permission from IEEE must be obtained for all other uses, in any current or future media, including reprinting/republishing this material for advertising or promotional purposes, creating new collective works, for resale or redistribution to servers or lists, or reuse of any copyrighted component of this work in other works.
Sponsor/Funder: Engineering & Physical Science Research Council (EPSRC)
EPSRC
Engineering & Physical Science Research Council (E
Commission of the European Communities
Funder's Grant Number: EP/I038837/1
EP/I038837/1
EP/K039326/1
646191
Keywords: Science & Technology
Technology
Automation & Control Systems
Computer Science, Interdisciplinary Applications
Engineering, Industrial
Computer Science
Engineering
Demand flexibility
industrial demand
optimization
power system
renewable generation
CARBON ELECTRICITY SYSTEMS
ENERGY MANAGEMENT SCHEME
SIDE MANAGEMENT
FACILITIES
STORAGE
08 Information And Computing Sciences
09 Engineering
10 Technology
Electrical & Electronic Engineering
Publication Status: Published
Online Publication Date: 2018-03-08
Appears in Collections:Faculty of Engineering
Electrical and Electronic Engineering
Centre for Environmental Policy
Faculty of Natural Sciences



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