ELIN SÄLLBERG, ALEXANDRA LIND, STÉPHANE VELUT, JOHAN ÅKESSON, STEPHANIE GALLARDO YANCES, KILIAN LINK
SEPTEMBER 1, 2012
In 9th International Modelica Conference, Munich, Germany
In a time when the production from renewable energy sources is steadily growing the demand for complementary electricity production on short notice is high. Large fluctuations during the day require power generators to react quickly to maintain the balance between demand and production. Deregulation of the electric power market also allows private investors to install power plants and supply power to the grid, which has increased the competition on the electricity market. The requirements between demand and supply have to be maintained while offering electricity at the lowest cost.