The idea is to improve bids for selling and buying electricity in power markets- and in the end to automate the bidding.
Assistant Professor Daniela Guericke, Postdoc Ignacio Blanco at DTU Compute together with Anders Andersen, EMD, have developed novel methods for the operation of district heating systems co-generating heat and power in 2018. Research Assistant Amos Schledorn from DTU Compute has now further developed the models.
The plan is that the algorithm behind the model generates the bids as in the real world – like the company is doing on paper. Our idea is that the method will automate electricity market bidding for combined heat and power generation and ideally, will improve both profitability for district heating companies and flexibility in the national power system. That will also allow us to evaluate potential investments in the district heating network under realistic operational strategies.
When the model is ready, further software development will be required to integrate the model into a larger toolbox.