Abstract
This paper presents a hybrid optimization method for industrial prosumers to act as flexibility service providers. The proposed method is applied to an industrial company from the energy intensive industry participating in the European Power Exchange and the Austrian balancing market, specifically focusing on automatic Frequency Restoration Reserve. A company in the food processing industry, with on-site electrical and thermal power generation is used to demonstrate the hybrid approach. There, metaheuristics and Mixed Integer Linear Programming are combined to solve a bidding strategy problem with a subsequent unit commitment problem. As metaheuristics, a Genetic Algorithm and Particle Swarm Optimization were applied and their results compared.
