Title :
A Decision Support Tool for Energy Storage Optimization
Author_Institution :
Dept. of Comput. Sci., Univ. Coll. Cork, Cork
Abstract :
We examine the problem faced by owners of gas storage contracts of how to manage the injection/withdrawal schedule of natural gas, given historical price behavior and a predictive model of future prices. We describe a hybrid price prediction model that combines a support vector machine technique with a stochastic model for short and long-term gas prices, respectively. We present a theoretical result regarding the complexity of the scheduling problem and propose a formulation for an integer program given capacity, injectability and deliverability constraints. We also outline how this was incorporated in a decision support tool that is used by energy traders at a gas utility company.
Keywords :
decision support systems; economic indicators; fuel storage; gas industry; integer programming; natural gas technology; scheduling; stochastic processes; support vector machines; capacity constraint; decision support tool; deliverability constraint; energy storage optimization; energy trading; future price prediction model; gas utility company; historical price behavior; injection schedule; integer program; natural gas storage contract owner; scheduling problem; stochastic model; support vector machine technique; withdrawal schedule; Buffer storage; Contracts; Energy storage; Natural gas; Ocean temperature; Predictive models; Processor scheduling; Reservoirs; Stochastic processes; Weather forecasting; gas storage; machine learning; stochastic modelling;
Conference_Titel :
Tools with Artificial Intelligence, 2008. ICTAI '08. 20th IEEE International Conference on
Conference_Location :
Dayton, OH
Print_ISBN :
978-0-7695-3440-4
DOI :
10.1109/ICTAI.2008.66
