- Operation and Control
Technologies to optimize electric power market transactions
Proposes transaction strategies that take into account the uncertainty in prediction of renewable energy generation volumes and market prices.
- Supports strategic decision-making in market transactions for renewable energy aggregators, both in spot markets and hour-ahead markets.
- In spot market transactions, create multiple patterns for power generation volumes and transaction prices that could arise in the future, and calculate optimum bidding volumes based on those patterns.
- In hour-ahead market transactions, estimate cumulative transaction profits based on assessments of transaction risks and price forecasts at each hour, and calculate optimum bidding timing and bidding volumes.
Applications
- Electric power market transaction support systems
Benchmarks, strengths, and track record
- Complete verification assessment in renewable energy aggregation verification business for FY2021~23
- Optimizes transaction volumes taking into account the stochastic scenarios which are made based on the accurate power generation forecasts and price forecasts.
- Increase efficiency of electric power transactions both in spot markets and hour-ahead markets
Inquiries
Please include the title “Toshiba AI Technology Catalog: Optimizing electric power market transactions” or the URL in the inquiry text.
Please note that because this technology is currently the subject of R&D activities, immediate responses to inquiries may not be possible.
References:
- Toshiba Develops “Electricity Markets Trading Strategy AI” for Aggregation of Renewable Energy, 15 December, 2021
- Develop “hour-ahead market transaction AI” to calculate optimum bidding timing and volumes for same-day transactions electric power markets.
- FY2023: Notification regarding startup of renewable energy aggregation verification tests