Analyzing industrial flexibility participation in Day-ahead and Intra-day markets of Nordic Countries: Electrified Asphalt Production Process as an example case

Abstract: Electrifying industry is a critical step toward achieving fossil decarbonization targets, as industry currently accounts for at least 24% of emissions. In the context of the METAWAVE project, three industrial units are being studied for replacing fossil fuel-burning components with microwave electric heating technology. This paper proposes a methodology for designing electrified high-temperature industrial heating processes, analyzes their flexibility potential in the Nordic day-ahead and intraday markets, and assesses how flexible operation can reduce electricity-related operational costs (OPEX). Although flexibility-enabling technologies may increase capital costs (CAPEX), the resulting operational savings may reduce total process costs (TOTEX), the sum of OPEX and CAPEX over the lifetime. An example case of the asphalt production process is utilized. The paper describes the plant's current situation, how the heating process will be electrified, and how flexibility resources can be used to minimize TOTEX as a flexibility service in the electrified industry. To this end, this paper also discusses market products in the day-ahead (DA) and intraday (ID) Nordic electricity markets.