Multistage Electricity Market Participation Strategies under Uncertainty for Power-to-X Plants

The large-scale implementation of electrolyzers is expected to become a reality in the next years. The challenge is to make water electrolysis economically sustainable so it can be a competitive investment within the current market setting. In this paper, we investigate the market participation strategies of a power-to-X plant, including an electrolyzer, compressor and storage tank, in both day-ahead and real-time, energy and reserve markets, while also considering the uncertainty of bid acceptance and market prices. The proposed policy is simulated in a Danish case study, where the benefits of participating in the ancillary services’ markets and of using a stochastic strategy are assessed and analyzed.