Multi-time period optimized configuration and scheduling of gas storage in gas-fired power plants

Qiao, Zheng; Guo, Qinglai; Sun, Hongbin; Sheng, Tongtian

doi:10.1016/j.apenergy.2018.06.033

Cited by 14 publications

(2 citation statements)

References 29 publications

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“…It is also identified the importance of gas storage for the stability of energy systems since gas interruptions increase both system and energy costs (Deane et al, 2017). Additionally, gas storage streamlines power generation allowing smoother power system operation and reducing the generation cost (up) to 40% (Qiao et al, 2018). The second component is the insurance value related to the storage's contribution to the continuity of gas supply, safeguarding suppliers from sudden price spikes.…”

Section: Gas Storage Valuementioning

confidence: 99%

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Spillovers of underground gas storage facilities and their role in the sustainable energy markets: assessment and policy recommendations

Chrysochoou

Zissis²,

Chalvatzis³

et al. 2023

BIJ

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PurposeThe purpose of this study is to investigate the impact of the construction and operation of underground gas storage (UGS) facilities, under the prism of the recent rise in energy prices. The focus is on developing energy markets interconnected with gas producers through pipelines and has access to liquefied natural gas (LNG) facilities in parallel.Design/methodology/approachThrough a focal market in Europe, the authors estimate the economic value for both stakeholders and consumers by introducing a methodology, appropriately adjusted to the specificities of the domestic energy market. The Transmission System Operator, the Energy Market Regulator, the Energy Exchange and Eurostat are the main data sources for our calculations and conclusions.FindingsThe authors investigate the perspectives of UGS facilities, identifying financial challenges considering specific energy market conditions which are barriers to new storage facilities. Nevertheless, the energy price rocketing coupled with the security of gas supply issues, which arose in autumn 2021 and were continuing in 2022 due to the Russia–Ukraine crisis, highlight that gas storage remains, at least for the midterm, at the core of European priorities.Originality/valueThe paper emphasizes on developing markets toward green transition, proposing tangible policy recommendations regarding gas storage. A new methodological approach is proposed, appropriate to quantify the economic value of UGSs in such markets. Last, a mix of energy policy options is suggested which include regulatory reforms, support schemes and new energy infrastructures that could make the gas storage investments economically viable.

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Section: Gas Storage Valuementioning

confidence: 99%

“…It is also identified the importance of gas storage for the stability of energy systems since gas interruptions increase both system and energy costs (Deane et al ., 2017). Additionally, gas storage streamlines power generation allowing smoother power system operation and reducing the generation cost (up) to 40% (Qiao et al ., 2018).…”

Section: Introductionmentioning

confidence: 99%