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Advantages of Using Co-optimisation Modelling Solutions for Interconnected Energy Markets

The transition to a sustainable energy future requires a thorough understanding of the intricate dynamics within electricity, hydrogen and natural gas energy markets. Integrated models have emerged as essential tools to navigate this complexity, providing comprehensive insights into future energy landscapes and enabling prudent decision making. However, the integration of these energy systems presents unique challenges, requiring strategic capacity planning and co-optimisation to ensure seamless interactions. This paper explores the integration of the electricity, hydrogen and natural gas energy worlds within a co-optimisation framework, addressing practical issues and benefits for strategic planning. The co-optimisation model generates dynamic commodity pricing by linking, for example, the production of hydrogen to the hourly generation of electricity used to produce the same hydrogen through electrolysis. The utilisation of the produced hydrogen is in turn linked to the generation of electricity through combined cycle gas turbines (CCGT). Critical considerations include maintaining consistent units and currency, ensuring technology and price consistency, and addressing cumulative differences. The benefits of co-optimisation models extend to both companies and policy makers, facilitating better decision making by optimising capacity expansions, minimising costs and balancing economic efficiency with environmental impact. These models enable the seamless deployment of clean energy solutions, mitigate the risks associated with energy price volatility, and promote operational resilience. In summary, the integration of co-optimisation models provides a holistic approach to energy decision making, maximising the potential of electricity and hydrogen energy systems in the transition to a sustainable energy future.

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«Be Smart, and Age Won’t Matter»

Conferences, in the most general sense, are needed for knowledge exchange, networking, professional development, staying updated, testing your research and receiving feedback from peers, as well as inspiration. Of course, all of this is relevant for conferences in the field of energy research as well. In addition, a conference is a platform for dialogue for various participants of the energy markets, and it is extremely important to preserve dialogue when all channels of communication between Russia and the West are being cut off. We usually imagine a conference as a flow of speakers and topics, but behind every conference there is an idea, a history, and people. Today, we will discuss the idea, history, and people behind the “Energetika XXI” conference with its organizer and founder, Dmitry Vasilenko. Dmitry is the Vice-Rector at the Saint Petersburg State University of Economics (UNECON). The interview was held by Irina Mironova.

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On the Path to COP29: Issues with Critical Energy Transition Minerals

Delivering the decarbonization needed for the Paris Agreement depends not only on easy access to technologies but also on the availability of the necessary resources for a green transition. At COP28, UN Secretary-General António Guterres underlined that “the extraction of critical minerals for the clean energy revolution – from wind farms to solar panels and battery manufacturing – must be done in a sustainable, fair and just way.” The UN Chief proposed the Panel on Critical Energy Transition Minerals for the first time in the history of the Conference of the Parties (COP) to the United Nations Framework Convention on Climate Change to discuss and set up common and voluntary guiding principles for extractive industries.

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