Price model of electrical energy for PSE applications

Optimal Design of a Carbon Dioxide Separation Process with Market Uncertainty and Waste Reduction

“…To simply the forecast EE quotations, we adopt previous monthly prices of the Ministry of Energy [41]. Similar to Manca [52], the EM for EE is based on (auto)correlograms and the economic dependency of the EE to NG. From these observations, it is feasible to apply the model represented by Equation 8:…”

Economic Sustainability of Products and Processes

“…where P EE,i,j is the EE price (V/MWh) at the iÀth discrete time for the jÀth interval of the day (usually a fraction of the day as discussed in Manca, 2014 If one wants to quantify the economic sustainability of SC over either scheduling or planning horizons subject to market fluctuations, then it is possible to use the EM of OPEX terms to produce a set of scenarios that are distributed according to the modeled fluctuations of dependent variables (i.e., commodities and utilities) and the stochastic contribution of the independent variable (i.e., the RC which is usually CO). Rasello and Manca (2014) discuss an approach to DSCM of oil refineries.…”

“…Manca and coauthors (Manca and Grana, 2010;Manca et al, 2011;Manca, 2012Manca, , 2013aManca, , 2013bManca, , 2014 proposed the following DEPs to assess the economic sustainability of an HDA plant: Where N P ,N R are the number of (by)products and raw materials; C,F are the price/ cost of process streams and their corresponding flowrates; nHpM,nEquip are the number of production hours in a month and the number of process units involved in the EA; W,IC are the electric power absorbed by a specific unit and the investment cost of equipment; S, H 2 O, FO are the subscripts that identify respectively the steam used in the reboilers of the distillation columns, the water used in the condensers of those columns, and the fuel oil used in the furnace of the HDA plant (see also http:// pselab.chem.polimi.it/ for further details). Equations (25.5)e(25.7) can be extended/ adapted to any chemical process.…”

“…Conversely, the stochastic term is embedded in the CO quotations as discussed in Section 25.3.2.1.3 and formulated in Eqn (25.2). A multidimensional unconstrained minimization of the sum of squared errors between the real EE prices and model values allows identi-fying the five sets of parameters and t d of Eqn (25.2) Manca (2014). determined that:• the EE price model is primarily affected by the a j parameter; • a secondary and often consistent contribution is given by the c j parameter; • the 2005e2013 period was rather tumultuous.…”