Production Cost Minimization Considering Integrated Carbon and Electricity Trading System

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dc.contributor.authorTaş E.
dc.contributor.authorGökçek T.
dc.contributor.authorErdinç O.
dc.contributor.authorAteş Y.
dc.date.accessioned2024-07-22T08:03:03Z
dc.date.available2024-07-22T08:03:03Z
dc.date.issued2023
dc.description.abstractThis study presents a production decision model that minimizes costs in an industrial production plant for carbon and electricity consumption under a joint carbon-electricity trading system. The motivation is to offer users a way to reduce their production costs within this integrated carbon and electricity trading framework. The model utilizes a cap-and-trade scheme for carbon trading and takes into account hourly electricity prices, carbon credit prices, electricity consumption required for production, and carbon emissions during production. Using the Mixed Integer Programming method, the optimization model effectively minimizes costs, leading to significant savings. © 2023 IEEE.
dc.identifier.DOI-ID10.1109/ELECO60389.2023.10415974
dc.identifier.urihttp://akademikarsiv.cbu.edu.tr:4000/handle/123456789/12088
dc.language.isoEnglish
dc.publisherInstitute of Electrical and Electronics Engineers Inc.
dc.subjectCarbon
dc.subjectElectric industry
dc.subjectElectric power utilization
dc.subjectEmission control
dc.subjectInteger programming
dc.subjectPower generation
dc.subjectPower markets
dc.subjectCap and trade
dc.subjectCap-and-trade scheme
dc.subjectCarbon credits
dc.subjectCarbon trading
dc.subjectCost minimization
dc.subjectElectricity trading
dc.subjectElectricity-consumption
dc.subjectIntegrated carbon and electricity trading
dc.subjectProduction cost
dc.subjectTrading systems
dc.subjectCosts
dc.titleProduction Cost Minimization Considering Integrated Carbon and Electricity Trading System
dc.typeConference paper

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