Endüstri Mühendisliği Bölümü Koleksiyonu

Permanent URI for this collectionhttps://gcris.khas.edu.tr/handle/20.500.12469/48

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Browsing Endüstri Mühendisliği Bölümü Koleksiyonu by Publication Category "Diğer"

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    Review
    Bidding of Price Taker Power Generators in the Deregulated Turkish Power Market
    (Pergamon-Elsevier Science Ltd, 2013) Yücekaya, Ahmet; Yücekaya, Ahmet Deniz; Yücekaya, Ahmet
    In deregulated power markets power firms bid into the day-ahead power market either with buy offers or sell offers. The auction mechanism and competition determine the equilibrium price and quantity for each hour. If the bid price of a company is below the market clearing price then the offer of the company is accepted and rewarded with the market price. A company can be a price maker or price taker depending on the capacity it offers to the market. A price-taker unit must determine the right offer that will maximize their profit given price uncertainty and blind auction rules. This paper first examines power supply in the Turkish electricity market and bidding process. Then a marginal cost-based Monte Carlo method is developed to determine hourly and block bidding strategies of price taker units. Historical market prices are then implemented in a normal distribution to generate hourly price scenarios. A solution methodology is developed that maximizes the expected profit of each hourly and block bidding strategy over price scenarios. The generator is able to both evaluate the hourly bidding and block bidding strategies and find the best bidding strategy that will be submitted to the market using the proposed methodology. The model is illustrated for two coal units in Turkish power market and the results are presented. (C) 2013 Elsevier Ltd. All rights reserved.
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    Review
    The Operational Economics of Compressed Air Energy Storage Systems Under Uncertainty
    (Pergamon-Elsevier Science Ltd, 2013) Yücekaya, Ahmet; Yücekaya, Ahmet Deniz
    A Compressed Air Energy Storage System is a means of storing energy which can then be used when the demand for energy increases. In this system air is compressed in a cavern when power prices are low and this air is used to run a natural gas-fired turbine to generate power when prices go up with the aim of profiting from the price difference. This type of system can independently compress air generate electricity or do both. However the prices of electricity and natural gas fluctuate which directly impacts the amount of revenue that can be made and this requires the calculating of estimates to optimize operation strategies and maximize profit. For these reasons this is a crucial energy storage technology that requires economic analyses to justify investment decisions in power markets. In this paper a mixed integer programming method is developed to schedule the operation of the system for forward market prices that are estimated using a markov-based probabilistic model. Then an algorithm that includes two separate modules in a simulation is employed to optimize the annual operation of the system. The paper presents a case study for Turkey as well as economic analyses based on probabilistic forward prices and the profits obtained from the optimization module. (C) 2013 Elsevier Ltd. All rights reserved.