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Records with Subject: Process Design
1440. LAPSE:2023.7171
Techno-Economic Comparison of Brayton Pumped Thermal Electricity Storage (PTES) Systems Based on Solid and Liquid Sensible Heat Storage
February 24, 2023 (v1)
Subject: Process Design
Keywords: grid-scale energy storage, liquid- and solid-based Pumped Thermal Electricity Storage (PTES), PTES multi-objective optimisation, techno-economic comparison, thermal exergy storage
To integrate large shares of renewable energy sources in electric grids, large-scale and long-duration (4−8+ h) electric energy storage technologies must be used. A promising storage technology of this kind is pumped thermal electricity storage based on Brayton cycles. The paper’s novel contribution is in the techno-economic comparison of two alternative configurations of such storage technology. Liquid-based and solid-based pumped thermal electricity storage were studied and compared from the techno-economic point of view. The cost impacts of the operating fluid (air, nitrogen, and argon), power rating, and nominal capacity was assessed. Air was the most suitable operating fluid for both technologies, simplifying the plant management and achieving cost reductions between 1% and 7% compared to argon, according to the considered configuration. Despite a more complex layout and expensive thermal storage materials, liquid-based systems resulted in being the cheapest, especially for large... [more]
1441. LAPSE:2023.7133
Protection of Multi-Terminal HVDC Grids: A Comprehensive Review
February 24, 2023 (v1)
Subject: Process Design
Keywords: DC circuit breakers, DC fault location, double-ended schemes, HVDC grid protection, MMC converters, protection strategies, reclosing schemes, single-ended schemes
Multi-terminal HVDC grids facilitate the integration of various renewable resources from distant locations; in addition, they enhance the reliability and stability of the grid. Protection is one of the major obstacles in realizing reliable and secure multi-terminal HVDC grids. This paper presents a comprehensive review of the existing protection schemes for multi-terminal HVDC grids. First, DC fault current stages are demonstrated; in addition, fault analysis studies and the existing fault current calculation methods are reviewed. Then, HVDC grid protection requirements including multi-vendor interoperability conditions are extensively discussed. Furthermore, primary protection algorithms are classified into single- and double-ended schemes, and a detailed comparison between each category is presented such that the distinctive algorithms from each group are highlighted. Moreover, the recent DC reclosing schemes are reviewed highlighting their role in enhancing grid stability and ensuri... [more]
1442. LAPSE:2023.7123
Comparative Analysis of Energy Storage Methods for Energy Systems and Complexes
February 24, 2023 (v1)
Subject: Process Design
The daily non-uniform power demand is a serious problem in power industry. In addition, recent decades show a trend for the transition to renewable power sources, but their power output depends upon weather and daily conditions. These factors determine the urgency of energy accumulation technology research and development. The presence of a wide variety of energy storage mechanisms leads to the need for their classification and comparison as well as a consideration of possible options for their application in modern power units. This paper presents a comparative analysis of energy storage methods for energy systems and complexes. Recommendations are made on the choice of storage technologies for the modern energy industry. The change in the cost of supplied energy at power plants by integrating various energy storage systems is estimated and the technologies for their implementation are considered. It is revealed that in the large-scale power production industry, the most productive ac... [more]
1443. LAPSE:2023.7084
Design Space Analysis of the Dual-Active-Bridge Converter for More Electric Aircraft
February 24, 2023 (v1)
Subject: Process Design
Keywords: bidirectional DC/DC power conversion, design space analysis, dual active bridge, more electric aircraft
In the literature, different DC/DC power electronic converters (PECs) have been found to interconnect high-voltage DC and low-voltage DC grids in the electric power distribution networks of aircraft. In this scenario, the dual-active-bridge (DAB) converter has been shown to be one of the most promising topologies. The main disadvantages of this PEC are the large output capacitance required to satisfy more electric aircraft (MEA) requirements and the high conduction losses produced in low-voltage power devices of (LV). Therefore, this paper proposes analytical models to determine the voltage ripple and root-mean-square (RMS) current in DC bus capacitors of DABs considering different modulation strategies. Moreover, an analysis of the design space in an MEA case study is performed to evaluate the influence of the design variables in power losses of power devices and peak-to-peak voltage ripple in DC bus capacitors. These models are useful for the design stage of this PEC, as well as to e... [more]
1444. LAPSE:2023.7070
Shale Oil Occurrence Mechanisms: A Comprehensive Review of the Occurrence State, Occurrence Space, and Movability of Shale Oil
February 24, 2023 (v1)
Subject: Process Design
Keywords: movability, occurrence space, occurrence state, oil retention, shale oil
Shale oil resources are important supplements for the gradually decreasing oil production from conventional reservoirs. Although the exploitation and development of shale oil have achieved considerable progress in the last decade, the commercial extraction of hydrocarbons from shales is still difficult, especially in the lacustrine sedimentary basins of China. One of the key points controlling the successful extraction of hydrocarbons from shale systems is the understanding of the occurrence mechanism of shale oil. This study comprehensively summarizes the theories and techniques to characterize oil occurrence state, occurrence space, oil content, and oil movability in shale systems. Sophisticated instruments, such as high-resolution scanning electron microscopy and high-energy ray imaging, were utilized to qualitatively analyze the pore networks of shales. Advanced physical experiments and numerical simulation techniques, including step-by-step rock pyrolysis, solvent extraction, and... [more]
1445. LAPSE:2023.7041
Towards Sustainable Transport: Techno-Economic Analysis of Investing in Hydrogen Buses in Public Transport in the Selected City of Poland
February 24, 2023 (v1)
Subject: Process Design
Keywords: electrolyzers, Hydrogen, hydrogen buses, Poland, public transport, Renewable and Sustainable Energy
The production, storage, and use of hydrogen for energy purposes will become increasingly important during the energy transition. One way to use hydrogen is to apply it to power vehicles. This green technological solution affects low-emissions transport, which is beneficial and important, especially in cities. The authors of this article analyzed the use of hydrogen production infrastructure for bus propulsion in the city of Katowice (Poland). The methods, used in the study, included a greedy algorithm and cost methods, which were applied for the selection of vehicles and identification of the infrastructure for the production, storage and refueling of hydrogen, as well as to conduct the economic analysis during this term. The article presented the complexity of the techno-economic analysis of the infrastructure and its installation. The key element was the selection of the number of vehicles to the hydrogen production possibilities of an electrolyser and capabilities of the storage an... [more]
1446. LAPSE:2023.7034
Maintenance Cycle Reduction Time and Energy Savings of Mechanical Face Seals Using Thermodynamic FEM Analysis
February 24, 2023 (v1)
Subject: Process Design
Keywords: energy saving, mechanical face seals, reliable design, thermodynamical FEM analysis
The lifetime cost evaluation of a seal must take into account all expenses throughout its operation. The thermodynamic aspects of mechanical face seals (MFSs) analyzed using FEM for various pairs of materials and their correlation with wear, reliability, and economic feasibility have not been researched in the literature. The MFSs analyzed in this paper were manufactured by ROSEAL S.A. for use in water pumps. The materials of the primary seal rings used by manufacturers were taken into account. The operating conditions were as follows: n = 3000 rpm, water temperature = 80 °C, and pressure = 0.1 MPa. In our study, we focused on the thermodynamic phenomena occurring in the MFS. The thermodynamic simulation was run using the FEM software MSC Nastran. Maps of the temperatures and the heat flow in the primary seal rings, for the two types of MFS and for different pairs of materials, were obtained using FEM analysis. The results highlight that the flow rate of leaks increases linearly with t... [more]
1447. LAPSE:2023.7024
Wireless Multi-Node uRLLc B5G/6G Networks for Critical Services in Electrical Power Systems
February 24, 2023 (v1)
Subject: Process Design
Keywords: mini-slot, performance analysis, services in power system, system design, uRLLc networks
The successful operations of power system require the support of communication networks with massive nodes access and two-way reliable and latency-critical transmission, which is the most-important use case of ultra-reliable low-latency communications (uRLLc) in the Fifth-Generation and Beyond and Sixth-Generation (B5G/6G) networks. In this paper, based on the orthogonal frequency division multiplexing (OFDM) signal in 5G, a new OFDM employing the hopped subcarrier technique (OFDM/FH) is proposed to attain the multiple nodes connectivity and the enhancement of transmission reliability. Considering the short and bursty packet types in the control information of power systems, the OFDM/FH signal can be naturally integrated with the mini-slot frame structure and automatic repeat request (ARQ) scheduling scheme to reduce the latency. The trade-off between the reliability in terms of the bit-error rate (BER) and the retransmission latency is investigated by semi-analytic simulations. Throug... [more]
1448. LAPSE:2023.7020
Design and Analysis of a DC Solid-State Circuit Breaker for Residential Energy Router Application
February 24, 2023 (v1)
Subject: Process Design
Keywords: circuit breaker, dc protection, energy router, soft turn-on, solid-state, solid-state circuit breaker
Energy routers act as an interface between the distribution network and electrical facilities, which meet the requirements of clean energy substitution and achieve the energy sharing and information transmission in the energy network. However, the protection of the dc load side of residential energy routers including interruption and isolation of short-circuit fault currents is vital for discussion. Since the traditional mechanical and hybrid circuit breakers for dc fault protection have the drawback of slow operation, a solid-state circuit breaker (SSCB) is an optimal solution for fast dc fault interruption. In this paper, a dc SSCB is proposed that uses an RCD + MOV snubber circuit, which is considered the best and most complete circuit used in common SSCBs. There are two main contributions in this paper: First, a dc SSCB is designed, which isolates both positive and negative terminals of a circuit and its working principle and operating modes along with the formulas for calculation... [more]
1449. LAPSE:2023.7007
Review, Challenges and Potential of AC/AC Matrix Converters CMC, MMMC, and M3C
February 24, 2023 (v1)
Subject: Process Design
Keywords: CMC, M3C, matrix converter, MMMC, multilevel converter, SVM modulation
This article presents a review and a comparison of the conventional matrix converter (CMC), multimodular matrix converter (MMMC), and multilevel matrix modular converter (M3C) topologies, which are three of the main topologies of the matrix family. The study of the CMC supplies basic knowledge for these structures and then the concept of multilevel matrix converters used in MMMC and M3C topologies is approached. The study addresses modulation strategies and switching sequences for the topologies to provide implementation guidelines and harmonic content reduction. The design is also carried out and results of the three topologies are shown to exemplify their operation. Finally, the article presents a comparison between the topologies to highlight the advantages and challenges of each one. This study contributes information on the three topologies, which are not easily found in the literature, especially in terms of modulation and switching strategies. It also highlights applications and... [more]
1450. LAPSE:2023.6985
Discharge Characteristics and System Performance of the Ablative Pulsed Plasma Thruster with Different Structural Parameters
February 24, 2023 (v1)
Subject: Process Design
Keywords: discharge characteristic, electric solid propellant, electrodes, impulse measurement, pendulum micro impulse scale, pulsed plasma thruster
Under the given initial discharge energy level, altering the electrode structural parameters of the Ablative Pulse Plasma Thruster (APPT) is an effective way to improve the performance of the thruster. The purpose of this study is to reveal the underlying mechanism of the effect of changing the electrode structure parameters on the performance of the APPT system and to offer targeted support for researchers to optimize the design of APPT structure. With rectangular and tongue-shaped electrode configurations at various electrode flare angles, electrode lengths, and electrode spacings, the discharge characteristics, propellant ablation characteristics, and thruster performance of the APPT are systematically investigated. The underlying mechanism of how changing the electrode’s configuration parameter affects the performance of the thruster is identified by fitting and predicting the parameters of the APPT discharge circuit and system performance under various operating conditions. The re... [more]
1451. LAPSE:2023.6924
Series RLC Resonant Circuit Used as Frequency Multiplier
February 24, 2023 (v1)
Subject: Process Design
Keywords: analog frequency multiplier, frequency multiplier, resonant circuits, transient state design, underdamped response
Currently, the design of resonant power converters has only been developed while operating in the steady state, while the design operating in the transient stage has not been considered nor reported. This paper is interested in testing the performance of the resonant circuits operating in the transient stage and finding applications where benefits can be obtained from this form of operation. One application in which it is possible to obtain benefits from designing resonant circuits in the transient state is in the area of frequency multiplication. Usually, to achieve frequency multiplication, it is necessary to resort to complex methods and special devices that increase the complexity of the design and the total cost of the circuit. This paper evaluates the performance of a series RLC resonant circuit operating in the transient stage and with an underdamped response acting as a frequency multiplier, where the oscillation frequency of the current in the resonant tank is “n” number of ti... [more]
1452. LAPSE:2023.6886
Design and Testing of Apparatus for Producing Dry Fog
February 24, 2023 (v1)
Subject: Process Design
Keywords: atomization, dry fog, pneumatic atomizer, spraytec
Dry fog is a specific form of aerosol that is used in many branches of industry and many aspects of everyday life. It can be used, inter alia, to disinfect rooms or to control the level of humidity. One of its greatest advantages is undoubtedly its ability to work in the vicinity of electrical devices. Although the process of its formation and the very phenomenon of its occurrence are extremely simple things to describe, there are still many aspects that can be discovered, which are the focus of research by scientists around the world. One of the main parameters that influence the production process of dry fog is the pressure of the supplied gas, as well as the environmental conditions in which the aerosol is formed. This work focuses on the production of dry fog with the use of the designed and constructed apparatus, the structure of which is based on a jet nebulizer. The test and measurement stand is equipped with a compressor with a built-in pressure gauge for reading air pressure,... [more]
1453. LAPSE:2023.6864
Study on the Performance of a Newly Designed Cooling System Utilizing Dam Water for Internet Data Centers
February 24, 2023 (v1)
Subject: Process Design
Keywords: forced cooling mode, free cooling mode, ICOP, internet data center, novel hybrid system
A novel energy-saving hybrid cooling system that combines a forced-cooling cycle and a free-cooling cycle was developed to increase the energy efficiency of cooling systems in year-round operation of an internet data center with high heat loads. This system effectively utilizes a dam deep water source to reduce energy consumption in internet data centers. The hybrid cooling system operates in forced-cooling mode when the entering water temperature exceeds the mode change temperature of 9 °C, but switches to free-cooling mode when the ambient temperature falls below the mode change temperature. In this paper, the cooling performance of the hybrid system was assessed under various operating conditions based on entering water temperature fluctuation. Because the cooling effectiveness of this type of system is highly dependent on the outside climate, its usefulness and suitability for different periods and zones must be investigated. The annual energy saving performance of the new system w... [more]
1454. LAPSE:2023.6848
Effects of the Aspect Ratio and Cross-Sectional Area of Rectangular Tubes on Packing Characteristics of Mono-Sized Pebble Beds
February 24, 2023 (v1)
Subject: Process Design
Keywords: aspect ratio, coordination number, cross-sectional area, discrete element method, packing fraction, radial distribution function, rectangular pebble bed, rectangular tube
The packing characteristics of a pebble bed are essential to understand the heat- and mass-transfer processes occurring within a granular system. Therefore, the packing characteristics of rectangular prismatic pebble beds randomly packed with mono-sized pebbles are analyzed. In terms of the average and local packing fraction distribution, coordination number, and radial distribution function, the effects of the rectangular tube aspect ratio and cross-sectional area on the packing properties of pebble beds are explored in depth. The findings indicate that the packing structures of the rectangular pebble bed exhibit noticeable fixed-wall effects. The average packing fraction and coordination number gradually decline as the rectangular tube aspect ratio rises. Close to the fixed wall, a noticeable wall effect can be seen in the distribution of axial and local packing fractions and the pebble center distribution. The wall effect has an increasing effect on the axial and local packing fract... [more]
1455. LAPSE:2023.6838
Improvement of the Electrical Performance of Outdoor Porcelain Insulators by Utilization of a Novel Nano-TiO2 Coating for Application in Railway Electrification Systems
February 24, 2023 (v1)
Subject: Process Design
Keywords: lightning impulse critical-flashover voltage, low-frequency flashover AC voltage, outdoor porcelain insulators, railway electrification system
The present study aimed to develop the electrical performance of outdoor insulators using a nano-TiO2 coating for railway electrification systems. The prototype design of porcelain insulators with normal coatings and using a nano-TiO2 coating is based on IEC 60815-1. The first test was performed to measure the low-frequency flashover AC voltage under both dry and wet conditions. In addition, the other test was conducted to measure the lightning impulse critical-flashover voltage at positive and negative polarity under dry-normal and wet-contaminated conditions. X-ray diffraction (X-RD) and Scanning electron microscopy (SEM) were used to examine the micro surface and show that the nano-TiO2 coating was adhered to the surface of the outdoor porcelain insulator and exists in an amorphous state. Additionally, it was observed and discovered that scattered nano-TiO2 strengthens the glassy matrix and creates a sturdy barrier that causes flashover voltage to be reduced under conditions of high... [more]
1456. LAPSE:2023.6806
Design and Analysis of Cryogenic Cooling System for Electric Propulsion System Using Liquid Hydrogen
February 24, 2023 (v1)
Subject: Process Design
Keywords: aviation propulsion system, cryogenic system, high-temperature superconductor, liquid hydrogen, rotating machine
As the demand for eco-friendly energy increases, hydrogen energy and liquid hydrogen storage technologies are being developed as an alternative. Hydrogen has a lower liquefaction point and higher thermal conductivity than nitrogen or neon used in general cryogenic systems. Therefore, the application of hydrogen to cryogenic systems can increase efficiency and stability. This paper describes the design and analysis of a cryogenic cooling system for an electric propulsion system using liquid hydrogen as a refrigerant and energy source. The proposed aviation propulsion system (APS) consists of a hydrogen fuel cell, a battery, a power distribution system, and a motor. For a lab-scale 5 kW superconducting motor using a 2G high-temperature superconducting (HTS) wire, the HTS motor and cooling system were analyzed for electromagnetic and thermal characteristics using a finite element method-based analysis program. The liquid hydrogen-based cooling system consists of a pre-cooling system, a hy... [more]
1457. LAPSE:2023.6777
Design of a 3 kW PMSM with Super Premium Efficiency
February 24, 2023 (v1)
Subject: Process Design
Keywords: IE4 efficiency class, losses reduction, permanent magnet synchronous motor, torque ripple
Extended use of permanent magnet synchronous motors (PMSMs) has brought the need to design motors that can comply with the latest requirements in terms of efficiency. This paper presents different configurations in the case of a 3 kW PMSM with two pole pairs, focusing on finding the optimal constructive solutions to ensure that it falls within the IE4 efficiency class. Six virtual prototypes were developed and simulated using the Altair FluxMotor software. A detailed comparison between the simulated versions was carried out in terms of overall efficiency, torque ripple, weight and flux density, with the focus on the nominal operating point. The results show that the virtual prototype with a relatively simple rotor design but higher stator slots number had the best results in terms of efficiency and torque ripple at the nominal operating point.
1458. LAPSE:2023.6737
Solving Power Outages in Healthcare Facilities: Algorithmisation and Assessment of Preparedness
February 24, 2023 (v1)
Subject: Process Design
Keywords: healthcare, power outage, preparedness
Power outages present a significant threat to all of humanity. However, elements of critical infrastructure are most affected by this event. Among other things, healthcare facilities can be considered critical infrastructure. They are the backbone for saving lives. However, even these medical facilities can be endangered. The primary aim of this paper is to design an algorithm to assess healthcare facilities to solve power outages. Several inputs are considered for the evaluation of healthcare facilities. Based on these inputs, we could gain several outputs, such as object priority, preparedness of the healthcare facility, missing aggregate capacity and fuel stocks. Calculations to obtain this information are available in this article. This algorithm follows up the methodology for the categorisation and prioritisation of objects necessary for the resumption of electricity supply after a blackout. We conclude that only 15% of the surveyed healthcare facilities are prepared for a power o... [more]
1459. LAPSE:2023.6717
Design and Evaluation of the Elastic and Anti-Corrosion Cement Slurry for Carbon Dioxide Storage
February 24, 2023 (v1)
Subject: Process Design
Keywords: anti-corrosion, carbon dioxide storage, cement slurry, corrosion depth, elastic modulus
Carbon dioxide capture and storage is the primary way to reduce greenhouse gas emissions on a large scale. Carbon dioxide storage is the critical link of this technology, and the way in which to achieve long-term storage is a problem to be considered. The elastic and anti-corrosion cement slurry is the key for the successful storage of carbon dioxide. In order to develop the cement slurry for carbon dioxide storage, the influence of resin with both elastic and anti-corrosion properties on the performance of a cement slurry was investigated. The dispersant, retarder, and filtrate reducer suitable for the cement slurry were studied, and the performance of the designed cement slurry for carbon dioxide storage was evaluated. The experimental results show that the resin can reduce water loss and improve the elasticity and corrosion resistance of cement paste. The elastic modulus and corrosion depth of the resin cement slurry were significantly lower than those of the non-resin cement slurry... [more]
1460. LAPSE:2023.6711
Constructal Evaluation of Polynomial Meta-Models for Dynamic Thermal Absorptivity Forecasting for Mixed-Mode nZEB Heritage Building Applications
February 24, 2023 (v1)
Subject: Process Design
Keywords: constructal law, Hoke D6 design, mixed-mode building, nZEB, thermal comfort
The intelligent and appropriate regulation of indoor temperatures within heritage buildings is crucial for achieving nearly Zero-Energy Building (nZEB) standards, since the technical improvement of the envelope and the overall shape of heritage buildings should be very limited in order to preserve the buildings’ authenticity. Thermal comfort is a very important factor that influences the energy performance of a building and the wellbeing of its end users. The present paper focuses on the development of a dynamic thermal human stress model that aimed to accurately predict the necessary garment insulation within a typical high-inertia heritage building. Two different statistical approaches (a Hoke D6 design and a composite factorial design) were employed for the development of this meta-model adapted to a typical mixed-mode heritage building seeking to obtain nZEB classification. Thermal human stress was modeled through the prediction of the thermal absorptivity (b) in accordance with th... [more]
1461. LAPSE:2023.6705
Methods for Reducing Cogging Force in Permanent Magnet Machines: A Review
February 24, 2023 (v1)
Subject: Process Design
Keywords: cogging force, cogging torque, linear PM machine, PM machines, stator PM machine
Permanent magnet (PM) machines inevitably suffer from cogging force, which does not contribute to the average output torque (force) but contributes as a type of torque (force) ripple. This paper provides an overview of the cogging force reduction methods for different types of PM machines. First, a systematic and comprehensive categorization of different kinds of cogging force reduction methods is given according to the reduction principle. Then, the cogging force reduction methods for different types of PM machines are analyzed and discussed based on the categorization. Finally, according to the versatility and feasibility of the cogging force reduction methods, practical methods are recommended for different types of PM machines. The categorization, analyses, and recommendations presented in the paper are useful for the design of different types of PM machines with the requirement of cogging force reduction or output torque (force) ripple suppression.
1462. LAPSE:2023.6698
Design of Stator Winding Turn Number of Tap-Change PMSM for EVs According to Driving Cycles
February 24, 2023 (v1)
Subject: Process Design
Keywords: driving cycle, inverter loss, motor loss, tap-change motor, tap-changer
Driving cycles are commonly used to evaluate the fuel efficiency and mileage of internal combustion engine vehicles and electric vehicles (EVs). To improve the mileage of EVs, efficient propulsion motors and inverters must be employed, particularly at frequently used speed and torque points of driving cycles. In this study, the number of the stator winding turns of a tap-change permanent magnet synchronous motor (PMSM) used for EV propulsion was investigated to increase the motor and inverter energy efficiencies under an urban dynamometer driving schedule (UDDS), a highway fuel economy test (HWFET), and combined UDDS/HWFET driving cycles. The motor core loss due to the carrier harmonics, copper loss, and inverter loss were analyzed for various winding turn number combinations, and the most efficient combination was selected. Based on the analysis results, the tap-change motor winding turns that exhibited the least loss were rewound on a PMSM of a mass-produced EV. The demand energy of... [more]
1463. LAPSE:2023.6696
Ellipsoidal Design of Robust Stabilization of Power Systems Exposed to a Cycle of Lightning Surges Modeled by Continuous-Time Markov Jumps
February 24, 2023 (v1)
Subject: Process Design
Keywords: attracting ellipsoid method, linear matrix inequalities, Markov jumps systems, power system stochastic stability
Power system stability is greatly affected by two types of stochastic or random disturbances: (1) topological and (2) parametric. The topological stochastic disturbances due to line faults caused by a series of lightning strikes (associated with circuit breaker, C.B., opening, and auto-reclosing) are modeled in this paper as continuous-time Markov jumps. Additionally, the stochastic parameter changes e.g., the line reactance, are influenced by the phase separation, which in turn depends on the stochastic wind speed. This is modeled as a stochastic disturbance. In this manuscript, the impact of the above stochastic disturbance on power system small-disturbance stability is studied based on stochastic differential equations (SDEs). The mean-square stabilization of such a system is conducted through a novel excitation control. The invariant ellipsoid and linear matrix inequality (LMI) optimization are used to construct the control system. The numerical simulations are presented on a multi... [more]
1464. LAPSE:2023.6676
Insuring a Small Retail Electric Provider’s Procurement Cost Risk in Texas
February 24, 2023 (v1)
Subject: Process Design
Keywords: electricity markets, ERCOT, insurance, retail service provider, spot price spike
Motivated by the relatively infrequent but very large price spikes in the day-ahead and real-time energy markets operated by the Electric Reliability Council of Texas, this paper proposes an insurance that a small and risk-averse retailer in Texas (i.e., a retail electric provider (REP)) may buy to prevent financial insolvency caused by inadequate risk management. It also demonstrates the insurance’s practical design, pricing, and implementation. As participation in the REP’s procurement auction is voluntary, the insurance is mutually beneficial for the REP and the insurance seller. Hence, the proposed insurance is a newly developed wholesale market product that deserves consideration by REPs in Texas and competitive retailers elsewhere.
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