Electric energy is a fundamental need in modern society. This need can only be met if the energy production is always equal to the energy demand. If the electricity grid suffers from overproduction or underproduction, this can lead to regional or even countrywide blackouts. As the share of renewable energy production increases and renewable energies remain uncontrollable, matching demand and supply becomes even more difficult.

Energy storages like batteries can increase the grid’s stability if they store energy while the supply exceeds the demand and discharge it when needed. In liberalized energy markets, energy prices reflect the current demand and supply situation. Therefore, if an energy storage owner in an electricity market maximizes the profit, this owner also helps match demand and supply.

This thesis focuses on three different decision problems faced by profit maximizing market participants. First, the management of a renewable energy source combined with a hydrogen-based energy storage and a battery in the German continuous intraday market.

The second decision problem is the integrated trading of a pumped hydro storage in the German day-ahead and intraday markets.

The last decision problem is the management of a renewable energy source in sequential auction markets. The decision problems are modeled as dynamic programs and solved analytically or via approximate dynamic programming.