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We assess the economic value of heat pumps and electric boilers in Denmark. The daily operation of a heat and power system is modeled by stochastic programming. Deterministic models overestimate the value of heat pumps and electric boilers. Heat pumps and electric boilers can reduce the cost of operating the Danish system. Falling power prices may boost the(More)
Modeling the optimal bid of wind power producers as price-makers is paramount for understanding the effect of their large-scale participation in electricity markets. We consider the problem of a wind power producer being a price-taker in the day-ahead market, but a price-maker in the balancing market, who aims at optimizing the expected revenues from these(More)
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