Multimarket Optimisation for Flexible Assets

Recording of Wednesday, June 19, 2024 | The smarter E Europe 2024 | Conference Program | Language: English | Duration: 15:14 .

Entrix Presents Multi-Market Optimization for Energy Storage to Align Supply and Demand in Renewable-Driven Grids

The presentation discusses the concept of multi-market optimization for flexible energy assets, focusing on Entrix's role in this domain. Entrix is a company founded three years ago with the belief that intelligent management of flexibility is key to driving the energy transition. This need arises due to increasing renewable energy penetration, leading to mismatches between supply and demand. Storage solutions can realign these differences by charging when there's excess energy and discharging during shortages. In Germany, markets are divided into wholesale markets (including day-ahead auctions and continuous intraday trading) and ancillary services (such as FCR—Frequency Containment Reserve—and AFR). Each market has distinct timelines for closing trades, ranging from a day before delivery to just minutes before it. Day-ahead auctions involve trading 60-minute contracts based on forecasted supply and demand. Continuous intraday trading allows more precise adjustments through 15-minute contracts closer to real-time conditions. The speaker illustrates how forecasts change throughout the day, requiring constant updates in trade positions. Ancillary services like FCR require batteries to respond dynamically to grid frequency changes over shorter durations compared with wholesale markets' hourly blocks. Combining these different market strategies maximizes both grid service efficiency and battery owner revenues by allowing second-to-second alignment of supply-demand imbalances while optimizing financial returns across varying timeframes.

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Speaker

Wolfgang Ridinger
Principal Data Scientist
Entrix GmbH
Germany

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