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Predicting low electricity prices to stop/lower production CHP at specific times?
I work at a chemical plant in Belgium where we have a CHP (gas turbine) and we inject a big amount of the leftover electricity.
Some days it will be beneficial to inject, but some days or hours the market price will be so low that we need to inject as little as possible to minimize losses. But I need to know this 2 days in advance.
How do you handle this at your company? I am looking for some insights and learn from how others handle this.
Extra info:
At this moment I try to look at predicted energy production of Belgium in the coming days (solar and wind which is publicly available) and at the predicted consumption (which is also publicly available). If production almost matches load, gas plants will not be turned on and price will be low (because most expensive production determines the price and then we only have solar, wind and nuclear). If production is low I look at some of the neighbouring countries. Eventually I'm planning to automate this with something like python.
I work at a chemical plant in Belgium where we have a CHP (gas turbine) and we inject a big amount of the leftover electricity.
Some days it will be beneficial to inject, but some days or hours the market price will be so low that we need to inject as little as possible to minimize losses. But I need to know this 2 days in advance.
How do you handle this at your company? I am looking for some insights and learn from how others handle this.
Extra info:
At this moment I try to look at predicted energy production of Belgium in the coming days (solar and wind which is publicly available) and at the predicted consumption (which is also publicly available). If production almost matches load, gas plants will not be turned on and price will be low (because most expensive production determines the price and then we only have solar, wind and nuclear). If production is low I look at some of the neighbouring countries. Eventually I'm planning to automate this with something like python.
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