Stochastic Decision-Making Optimization Model for Large Electricity Self-Producers Using Natural Gas in Industrial Processes: An Approach Considering a Regret Cost Function

• Published in: Energies (Basel) Vol. 17; no. 21; p. 5389
• Main Authors: Leonel, Laís Domingues, Balan, Mateus Henrique, Camargo, Luiz Armando Steinle, Ramos, Dorel Soares, Castro, Roberto, Clemente, Felipe Serachiani
• Format: Journal Article
• Language: English
• Published: Basel MDPI AG 01.11.2024
• Subjects: Alternative energy sources; Aluminum industry; Consumers; Decision making; Economic aspects; Electricity; energy procurement; Energy transition; Flexibility; Integer programming; integrated stochastic optimization model; Investment analysis; load-supply flexibility; Market prices; Mathematical functions; Natural gas; Optimization; Power plants; Production processes; regret cost function; Brazil

In the context of high energy costs and energy transition, the optimal use of energy resources for industrial consumption is of fundamental importance. This paper presents a decision-making structure for large consumers with flexibility to manage electricity or natural gas consumption to satisfy the...