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RenewablePortfolio TERMINATED
Market player’s optimal scheduling under integrating renewables in European electricity markets
Total Cost €
0EC-Contrib. €
0Partnership
0Views
0RenewablePortfolio project word cloud
Explore the words cloud of the RenewablePortfolio project. It provides you a very rough idea of what is the project "RenewablePortfolio" about.
forecasts
levels
innovative
emissions
countries
transmission
balance
output
deregulation
keeping
compete
productions
demand
hedging
permanently
aftermath
capacity
volatility
providers
retail
options
consumers
network
grid
optimization
bidding
competitive
lowest
opportunity
decline
electricity
responsible
renewable
embracing
companies
phenomena
global
player
electrical
highest
electric
market
industry
solar
generating
multiple
operators
strategy
gas
stochastic
methodology
dynamic
changing
functioning
industrialized
units
markets
area
profit
hours
power
serving
launched
feasible
2020
incorporating
look
environmental
optimize
prices
energy
peak
scales
strategic
managers
mainly
environment
depends
players
parts
generation
worldwide
participant
wind
greenhouse
pricing
tool
portfolio
price
acting
time
portion
supply
Project "RenewablePortfolio" data sheet
The following table provides information about the project.
| Coordinator |
DANMARKS TEKNISKE UNIVERSITET
Organization address contact info |
| Coordinator Country | Denmark [DK] |
| Total cost | 200˙194 € |
| EC max contribution | 200˙194 € (100%) |
| Programme |
1. H2020-EU.1.3.2. (Nurturing excellence by means of cross-border and cross-sector mobility) |
| Code Call | H2020-MSCA-IF-2014 |
| Funding Scheme | MSCA-IF-EF-ST |
| Starting year | 2015 |
| Duration (year-month-day) | from 2015-09-01 to 2017-08-31 |
Partnership
Take a look of project's partnership.
| # | ||||
|---|---|---|---|---|
| 1 | DANMARKS TEKNISKE UNIVERSITET | DK (KGS LYNGBY) | coordinator | 200˙194.00 |
Map
Project objective
Market player portfolio optimization has become an important area of research in the aftermath of the worldwide deregulation of the power industry that launched competitive electricity markets now embracing all market participant including generation and retail companies, transmission network providers, and market managers. Development of the innovative methodology for the strategic market behaviour is highly required by all electricity market parts under permanently changing market conditions. For example, generating companies acting on the market compete with each other in serving the consumers' demand and have the opportunity to optimize the use of their production portfolio by pricing and bidding their available production capacity into the market. On the other hand, demand-side participants look for feasible options to avoid the high electricity market prices during peak hours. Production levels and price forecasts are of great importance for system operators, who are responsible for keeping the grid in balance. Environmental challenges bring new requirements for market parts acting in European electricity markets. The European Strategy 2020 aims to decline global greenhouse gas emissions in most industrialized European countries. Electric energy systems are currently functioning with an increasing portion of the renewable energy productions (e.g. wind, solar based units) whose output depends on stochastic phenomena and contribute to uncertainty in electrical energy systems. The novel methodology is developed for both supply and demand side market players acting in multiple electricity markets of different time scales to have an opportunity to optimize their portfolio by bidding or hedging against market volatility in order to get the highest possible profit or the lowest cost under stochastic dynamic market environment. The project results in the implementation of the operational tool for energy systems incorporating mainly stochastic renewable production.
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The information about "RENEWABLEPORTFOLIO" are provided by the European Opendata Portal: CORDIS opendata.
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No valid XML
lastchecktime (2024-04-19 12:09:43) correctly updated