Abstract
This work addresses the problem of determining the optimal operating schedule that minimizes the operating cost in an energy-intensive air separation plant. The difficulty arises from the fact that the rate at which the utility company supplies electricity to the plant is subject to high fluctuations. This creates a potential opportunity to reduce average operating costs by changing the operating mode and production rates depending on the power costs. However, constraints occur due to product distribution requirements and plant capabilities. The scheduling optimization problem is made more challenging because the power prices are only known for a portion of the desired optimization horizon. These challenges were addressed by developing an efficient two-stage stochastic programming approach. Extensive analysis was done which resulted in a MILP problem formulation that uses an ARIMA model to generate the necessary scenarios for future power prices. The proposed problem was solved by utilizing commercial sof...
Published Version
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
