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In this paper, we explore two strategies for reducing the cash flow uncertainty of wind energy producers ascribed to variable weather conditions. The first strategy is based on the idea of aggregating the output of geographically-dispersed generating units. The second strategy employs financial instruments that compensate producers for unanticipated declines in the power delivery. Using a blend of advanced weather modeling, time series analysis, simulation and optimization techniques, we empirically access the ability of the two risk management approaches to control volumetric risk in Spain. With the aid of factor analysis techniques, we proceed with the decomposition of the remaining risk levels and assess the exposure of each strategy's revenue to systematic risk factors. Motivated by the results of this analysis, we propose new financial contracts and mixed-style strategies that are better suited to the risk position of each market player. • We introduce various strategies for managing the wind volumetric risk in Spain. • We quantify their ability to reduce the revenue variance of wind power producers. • Spatial aggregation of resources is not a cure for wind energy stochasticity. • Commercial wind power futures cannot hedge away all risk dimensions. • New contract designs are needed to control systematic variations in producers' income. [ABSTRACT FROM AUTHOR]

• Cost-effective and sustainable energy systems retrofit for buildings. • 2nd life Li-Ion batteries in polygeneration systems for buildings. • To cut off the natural gas consumption at affordable cost. The building sector represents around one-third of the energy related to the EU CO 2 eq emissions, which makes it a crucial sector for achieving the EU's energy and environmental goals. Thus, the EU has established a legislative framework to foster, among others, the modernisation of the existing building stock through a better energy system integration. In this sense, bearing in mind the needs of energy system retrofit of the public buildings in Spain, this paper carried out a thorough analysis of different trade-off solutions obtained from the multiobjective optimization of a polygeneration system for the TR5 building of the Polytechnic University of Catalunya. The results highlight the selection of PV panels, cogeneration modules and 2 nd life Li-Ion batteries, among others, to achieve cost-effective and sustainable energy systems. By covering the available area, 2000 m 2 , the PV panels attend about 23% of the electricity required for the building. On the other hand, considering the current geopolitical tensions, it presents a potential configuration that allows to cut off the natural gas consumption reducing about 6% the current cost. The study was carried out by using a Mixed Integer Linear Programming model maximizing the Net Present Value of the project considering the environmental impact. [ABSTRACT FROM AUTHOR]

• A MILP is set to ex-post optimise the Interruptible Load program in Spain. • Consideration of real technical and regulatory constraints. • Definition of a series of metrics to compare the optimal performance of programs. • Recommendation to design and operate Interruptible Load programs. • The optimal usage of the resource could have saved the system a total of 163 M€. The deployment of demand response in reserve markets has been widely discussed. Interruptible Load programs contract demand capacity from consumers in exchange for fixed and variable payments. System operators contract these resources to increase system resilience and use them for economic purposes. Although common, no ex-post evaluations of the program's performance and efficiency exists in the literature. To fill this gap, the paper presents a procedure to evaluate the optimal usage of these resources from a system operator perspective. A Mixed Integer Linear Problem is set to minimise the overall cost of the system using the participant demand resources in the tertiary reserve market, while ensuring that all technical and regulatory constraints are fulfilled in the evaluation. The proposed method describes a series of metrics to compare the optimal performance with the current scenario, and we draw a set of conclusions and policy recommendations from it. We apply the method to the Spanish Interruptible Load program. Our results show that during the five and a half years of the program, demand resources could have provided savings to the system of up to 23% of the cost of tertiary reserve. [ABSTRACT FROM AUTHOR]