Cost-effective optimization of load shifting in the industry by using intermediate storages

This paper presents the results of a study carried out with the help of industrial consumer who is willing to shift their electricity consumption in time. The aim of the study was to develop an optimization model for a specific load cycle in an industrial process e.g. a wood chipper. The paper covers the main aspects and assumptions used to assess the possible demand side management revenues for the industry. The model is used to optimize the wood chipper's operation schedule according to the day-ahead spot market price information. The developed model and its results could be used by the industry as an input for optimizing its production cost for any industrial (sub) process under the open electricity market conditions.