Abstract
Power retail companies have the risk of paying the penalty due to the imbalance between planned and actual power generation values. And the risk is supposed to increase in the future. Batteries and electrolyzers are a possible solution to reduce the imbalance. To mitigate the high installation cost of electrolyzers, it is important to increase the capacity factor of electrolyzers. In this study, a mathematical model was developed to simulate the operation of a power retail company using a battery and an electrolyzer. Then we proposed a new strategy to produce hydrogen using electricity from JEPX, when the wholesale electricity price is lower than a certain value. The model was formulated as a mixed integer linear programming problem, and the effect of the strategy was evaluated by solving this problem. As a result, this strategy achieved high capacity factor of the electrolyzer, around 60%. In order to reduce the risk of JEPX price fluctuation, we also proposed an electrolyzer’s operation strategy using the prediction error distribution of JEPX price. The effect was quantified through Monte-Carlo simulation. Although the deviation of the yearly revenue was not much reduced by this strategy, the high deviation was notably reduced in the daily revenue.
