Optimizing industries' power generation assets on the electricity markets

Based on the mathematical description of this optimization problem, a model achieving a double target is introduced. First, to develop a standard architecture that can be easily translated from one case to another. Then, to assess the maximum expected savings and the induced strategy. This model is applied to a refinery case study, where expected earnings are as much as €8 M per year and account for 1% of turnover. The figures obtained show that this is a relevant business concept. Following this trend, the potential to implement Waste Heat Recovery in energy-intensive cement plants is considered.