Luís Manuel Rodrigues

Abstract
Hydrogen is regarded as a flexible energy carrier with multiple applications across several sectors. For instance, it can be used in industrial processes, transports, heating, and electrical power generation. Green hydrogen, produced from renewable sources, can have a crucial role in the pathway towards global decarbonization. However, the success of green hydrogen production ultimately depends on its economic sustainability. In this context, this work evaluates the economic performance of a hydrogen power plant participating in the electricity market and supplying multiple hydrogen consumers. The analysis includes technical and economical details of the main components of the hydrogen power plant. Its operation is simulated using six different scenarios, which admit the production of either grey or green hydrogen. The scenarios used for the analysis include data from the Iberian electricity market for the Portuguese hub. An important conclusion is that the combination of multiple services in a hydrogen power plant has a positive effect on its economic performance. However, as of today, consumers who would wish to acquire green hydrogen would have to be willing to pay higher prices to compensate for the shorter periods of operation of hydrogen power plants and for their intrinsic losses. Nonetheless, an increase in green hydrogen demand based on a greater environmental awareness can lead to the need to not only build more of these facilities, but also to integrate more services into them. This could promote the investment in hydrogen-related technologies and result in changes in capital and operating costs of key components of these plants, which are necessary to bring down production costs.

Abstract
The new energy policies adopted by the European Union are set to help in the decarbonization of the energy system. In this context, the share of Variable Renewable Energy Sources is growing, affecting electricity markets, and increasing the need for system flexibility to accommodate their volatility. For this reason, legislation and incentives are being developed to engage consumers in the power sector activities and in providing their potential flexibility in the scope of grid system services. This work identifies energy and cross-sector Business Models (BM) centered on or linked to the provision of distributed flexibility to the DSO and TSO, building on those found in previous research projects or from companies' commercial proposals. These BM are described and classified according to the main actor. The remaining actors, their roles, the interactions among them, how value is created by the BM activities and their value propositions are also described.