Strategic petroleum reserve (SPR) plays an important role in ensuring energy security. China has launched the SPR in response to the potential oil shortage since 1970. The optimal scale of SPR has become a concern to policy makers. The paper adopts a computable general equilibrium (CGE) model to...

In the transition to decarbonized energy systems, Power-to-Gas (PtG) processes have the potential to connect the existing markets for electricity and hydrogen. Specifically, reversible PtG systems can convert electricity to hydrogen at times of ample power supply, yet they can also operate in...

First things first-contrary to popular opinion, the main reason farmers and grain traders use futures markets is not to hedge spot price and basis risks, but to ensure the profitability of the storage business. The scientific literature mainly discusses the minimum variance hedge ratio, which...

This part of STORY project deals with the business integration of storage into the power system and electricity markets. The objective as described in the description of action is to bring stakeholders a transparent view regarding the ways to roll out storage in the grid. A strong cooperation...

The recent advances in battery technology and reductions in battery costs have brought battery energy storage systems (BESS) to the point of becoming increasingly cost-effective projects to serve a range of power sector interventions, especially when combined with PV and where diesel is the...

Growing shares of renewable energy sources (RES) in the electricity system increase the need for flexible balancing of supply-dependent feed-in of RES and time-varying demand. Besides flexible, conventional technologies and demand-responses, storage is an important option. Through the use of an...

"Modern warehouses are capitalizing on cutting-edge technologies, new operating models and innovative practices to maximize their role in the wider supply chain. Understand how to successfully manage these warehouses with this bestselling guide.Warehouse Management guides the reader through all...

Customer order response time and system throughput capacity are key performance measures in warehouses, which depend strongly on the storage strategies deployed. One popular strategy is to split inventory into a bulk storage and a pick stock, or forward-reserve (FR) storage. Managers often use a...

We study the efficacy of releases from the U.S. Strategic Petroleum Reserve (SPR) within the context of fully specified models of the global oil market that explicitly allow for storage demand as well as unanticipated changes in the SPR. Using novel identifying strategies and evaluation methods,...

The rapid development of e-commerce in China has played a critical role in the development of the national economy and ongoing modernization. The plant industry is unique among industries that employ e-commerce sales models because its products exhibit special characteristics such as high death...

In electricity markets around the world, the substantial increase of intermittent renewable electricity generation has intensified concerns about generation adequacy, ultimately driving the implementation of capacity remuneration mechanisms. Although formally technology-neutral, substantial...

Exploring properties both of the EIA's natural gas and crude oil storage announcements and of analyst forecasts of the EIA storage figures, we find that analyst storage forecasts bring additional information to the market beyond seasonal patterns and past storage flows and that the market...

Tailings storage facilities (TSFs) are engineered structures that comprise the confining embankments (commonly referred to as tailings dams) and associated works and are designed to contain tailings (residue following extraction of valuable material from metal ore processing) and to manage...

Entrepôts are hubs that facilitate trade between multiple origins and destinations. We study these entrepôts, the network they form, and their impact on international trade. We document that the trade network is a hub-and-spoke system, where 80% of trade is shipped indirectly--nearly all via...

This paper is inspired by a manual picking retail company where shape and weight constraints affect the order-picking process. We proposed an alternative clustering similarity index that considers the similarity, the weight and the shape of products. This similarity index was further...

This paper is inspired by a manual picking retail company where shape and weight constraints affect the order-picking process. We proposed an alternative clustering similarity index that considers the similarity, the weight and the shape of products. This similarity index was further...

Our research focuses on the storage decision in a semi-automated storage system, where the inventory is stored on mobile storage pods. In a typical system, each storage pod carries a mixture of items, and the inventory of each item is spread over multiple storage pods. These pods are transported...

This paper focuses on the valuation and hedging of gas storage facilities, using a spot-based valuation framework coupled with a financial hedging strategy implemented with futures contracts. The contributions of this paper are two-fold. Firstly, we propose a model that unifies the dynamics of...

In this work, we study the profitability of energy storage operated in the Nordic, German, and UK electricity day-ahead markets during 2006-2016. We build a linear optimization model which maximizes profits from arbitraging hourly prices and use the model output of profits and storage cycles in...