Medium-term retailer's planning and participation strategy considering electricity market uncertainties

2015 ◽  
Vol 26 (5) ◽  
pp. 920-933 ◽  
Author(s):  
Saeed Kharrati ◽  
Mostafa Kazemi ◽  
Mehdi Ehsan
Keyword(s):  
Electricity Market ◽  
Medium Term ◽  
Market Uncertainties

scholarly journals A New Methodology to Obtain a Feasible Thermal Operation in Power Systems in a Medium-Term Horizon

Energies ◽  
2020 ◽  
Vol 13 (12) ◽  
pp. 3056
Author(s):  
Luis Montero ◽  
Antonio Bello ◽  
Javier Reneses
Keyword(s):  
Power Systems ◽  
Electricity Market ◽  
Renewable Energy Sources ◽  
Power Markets ◽  
Medium Term ◽  
Thermal Generation ◽  
Large Size ◽  
Starting Point ◽  
Simultaneous Modeling ◽  
The One

Nowadays, electricity market paradigms are constantly changing. On the one hand, the deployment of non-dispatchable renewable energy sources is bringing out the necessity of representing hourly dynamics in medium-term fundamental models. On the other, the promotion of new interconnection capacity and the integration of markets (as is the case of the European market) makes necessary the simultaneous modeling of multiple electricity systems. Thus, the large size of power markets, together with the consideration of uncertainty in some inputs, make it computationally intractable to work rigorously on an hourly detailed time span. Temporal aggregation, integer programming relaxation or less accurate generation modeling are usually employed to obtain reasonable computation times. However, the application of these techniques often leads to infeasible or suboptimal operational outputs. This paper proposes a new soft-linking methodology to meet reliable results from medium-term models, such as hourly prices or aggregated productions, with a feasible and detailed representation of the thermal generation, considering technical constraints and risk aversion. The results of a fundamental model that represents the competitive behavior between market players in a multi-area power system are used as the starting point for the methodology. Then, a post-processing method is applied to optimize and make feasible the thermal portfolio of a market agent. The final output is a feasible hourly scheduling and an ample space for optimization, where the introduction of a strategic term represents the rational behavior of a player who tries to maximize its profit.

scholarly journals Medium-term scheduling of electric power system states under a wholesale electricity market

2020 ◽  
Vol 209 ◽  
pp. 02025
Author(s):  
Natalia Aizenberg ◽  
Sergey Palamarchuk
Keyword(s):  
Power System ◽  
Equilibrium State ◽  
Electric Power ◽  
Electricity Market ◽  
Electric Power System ◽  
State Variables ◽  
Wholesale Market ◽  
Medium Term ◽  
Time Intervals ◽  
System States

The paper focuses on the development of a mathematical model for scheduling electric power system (EPS) states for the medium-term period divided into several time intervals. The model allows calculating the equilibrium state in the EPS, in which each supplier receives the maximum profit from the electricity supply to the wholesale market. The price levels in the EPS are determined by finding the maximum value of the social welfare given the balance constraints at the EPS nodes and the constraints on feasible state variables over several time intervals. Approaches to solving the multi-interval problem of search for an equilibrium states are considered. The approaches involve building a system of joint optimality conditions for electricity suppliers in the considered time intervals. The equilibrium state is found either by directly solving such a system or through an iterative search. The paper demonstrates the results of the medium-term scheduling of the state by an example of a simplified electric power system.. electric power system..

Sign in / Sign up

Export Citation Format

Share Document