Title :
Combined Pool/Bilateral Short-Term Hydrothermal Scheduling Model for Day-Ahead Energy Markets
Author :
Silva, A. L da ; Silva, P. S da ; Breda, J.C. ; Nepomuceno, L.
Author_Institution :
Univ. Estadual Paulista, Bauru, Brazil
Abstract :
This paper proposes a combined pool/bilateral short term hydrothermal scheduling model (PDC) for the context of the day-ahead energy markets. Some innovative aspects are introduced in the model, such as: i) the hydraulic generation is optimized through the opportunity cost function proposed; ii) there is no decoupling between physical and commercial dispatches, as is the case today in Brazil; iii) interrelationships between pool and bilateral markets are represented through a single optimization problem; iv) risk exposures related to future deficits are intrinsically mitigated; v) the model calculates spot prices in an hourly basis and the results show a coherent correlation between hydrological conditions and calculated prices. The proposed PDC model is solved by a primal-dual interior point method and is evaluated by simulations involving a test system. The results are focused on sensitivity analyses involving the parameters of the model, in such a way to emphasize its main modeling aspects. The results show that the proposed PDC provides a conceptual means for short term price formation for hydrothermal systems.
Keywords :
correlation theory; hydrothermal power systems; power generation scheduling; power markets; risk analysis; Brazil; PDC; coherent correlation; combined pool-bilateral short-term hydrothermal scheduling model; commercial dispatches; cost function; day-ahead energy markets; hydraulic generation; hydrological conditions; innovative aspects; opportunity cost function; physical dispatches; primal-dual interior point method; sensitivity analysis; short term price formation; single optimization problem; Analytical models; Computational modeling; Context modeling; Jacobian matrices; Energy Markets; Short-term Generation Scheduling;
Journal_Title :
Latin America Transactions, IEEE (Revista IEEE America Latina)
DOI :
10.1109/TLA.2012.6362354