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SUMMARY:Valuing Storage and Demand-Side Management - Zachary\, S (Heriot-W
 att University)
DTSTART:20130425T130000Z
DTEND:20130425T133000Z
UID:TALK44842@talks.cam.ac.uk
CONTACT:Mustapha Amrani
DESCRIPTION:Abstract: Storage of electrical energy can be viewed as shifti
 ng energy through time.  To assess the economic value of such storage\, we
  may assume that energy is always available at a price which is time-depen
 dent\, so that the value becomes that of being able to shift energy from t
 imes when it is cheap to times when it is (otherwise) expensive.  We\ncons
 ider the mathematics of optimal control under conditions in which there ar
 e both capacity and rate constraints on storage\, and under conditions whe
 re this activity may be sufficiently large in scale as to itself impact on
  market prices.  In particular we show that time horizons for optimal deci
 sion making are typically short - of the order of a day.\n\nWe discuss als
 o possible extensions to cases where future prices are uncertain\, and to 
 time-shifting of demand.\n
LOCATION:Seminar Room 1\, Newton Institute
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