A Portfolio-Level Optimization Framework for Coordinated Market Participation and Operational Scheduling of Hydrogen-Centric Companies

Abstract

The vision of electrolytic hydrogen as a clean energy vector prompts the emergence of hydrogen-centric companies that must simultaneously engage in electricity, hydrogen, and green certificate markets while operating complex, geographically distributed asset portfolios. This paper proposes a portfolio-level optimization framework tailored for the integrated operational scheduling and market participation of such companies. The model co-optimizes asset scheduling and market decisions across multiple sites, incorporating spatial distribution, technical constraints, and company-level policy requirements. It supports participation in the electricity market, physical and virtual Power Purchase Agreements (PPAs), bundled and unbundled hydrogen markets, and green certificate transactions. The model is applied to three operational scenarios to evaluate the economic and operational impacts of different compliance strategies. Results show that centralized, portfolio-level control unlocks the full flexibility of geographically distributed assets, enabling a 2.42-fold increase in hydrogen production and a 9.4% reduction in daily operational costs, while satisfying all company policy constraints.