Title :
Strategic bidding in a competitive electricity market: a decomposition approach
Author :
Baillo, Alvaro ; Ventosa, Mariano ; Rivier, Michel ; Ramos, Andrés
Author_Institution :
Instituto de Investigacion Tecnologica, Univ. Pontificia Comillas, Madrid, Spain
Abstract :
Daily bidding is an activity of paramount importance for generation companies operating in day-ahead electricity markets. The authors have developed a strategic bidding procedure based on stochastic programming to obtain optimal bids. In this paper, the problem is decomposed under the Benders framework to permit the solution of large-size problems. A numerical example illustrates the advantages of the proposed approach
Keywords :
electricity supply industry; power generation economics; power generation scheduling; stochastic programming; Benders decomposition; competitive electricity market; daily bidding; day-ahead electricity markets; generation scheduling; stochastic programming; strategic bidding; Aggregates; Electricity supply industry; Equations; Postal services; Power generation; Production; Scheduling; Stochastic processes; Supply and demand; Telecommunication standards;
Conference_Titel :
Power Tech Proceedings, 2001 IEEE Porto
Conference_Location :
Porto
Print_ISBN :
0-7803-7139-9
DOI :
10.1109/PTC.2001.964625
