bilateral contracts
Optimal Day-Ahead Bidding in the MIBEL's Multimarket Energy Production System
Wed, 10/27/2010 - 11:07 — admin| Publication Type | Proceedings Article |
| Year of Publication | 2010 |
| Authors | Cristina Corchero; F.-Javier Heredia |
| Conference Name | 7th Conference on European Energy Market EEM10 |
| Series Title | Proceedings of the 7th Conference on European Energy Market EEM10 |
| Volume | 1 |
| Pagination | 1 - 6 |
| Conference Start Date | 23/06/2010 |
| Publisher | IEEE |
| Conference Location | Madrid |
| Editor | IEEE |
| ISBN Number | 978-1-4244-6838-6 |
| Key Words | research; DPI2008-02153; multimarket; MIBEL; stochastic programming; futures contracts; bilateral contracts; optimal bid; paper |
| Abstract | A Generation Company (GenCo) can participate in the Iberian Electricity Market (MIBEL) through different mechanisms and pools: the bilateral contracts, the physical derivatives products at the Derivatives Market, the bids to the Day-Ahead Market, the Intraday Markets or the Ancillary Services Markets. From the short-term generation planning point of view, the most important problem to solve is the bidding strategy for the Day-Ahead Market (DAM) given that the 85% of the physical energy traded in Spain is negotiated in it, but this participation cannot be tackled independently of other subsequent markets. |
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| DOI | 10.1109/EEM.2010.5558714 |
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Optimal day-ahead bidding strategy in the MIBEL's multimarket energy production system
Thu, 07/29/2010 - 12:14 — admin| Publication Type | Report |
| Year of Publication | 2010 |
| Authors | Cristina Corchero; F.-Javier Heredia |
| Pages | 6 |
| Date | 07/2010 |
| Reference | Research report DR 2010/**, Dept. of Statistics and Operations Research. E-Prints UPC, http://hdl.handle.net/2117/8390. Universitat Politècnica de Catalunya |
| Prepared for | Published by the IEEE at the proceedings of the 7th Conference on European Energy Market EEM10, Madrid, Spain |
| Key Words | research; electricity markets; multimarkets; day-ahead market; intraday market; AGC market; stochastic programming |
| Abstract | A Generation Company (GenCo) can participate in the Iberian Electricity Market (MIBEL) through different mechanisms and pools: the bilateral contracts, the physical derivatives products at the Derivatives Market, the bids to the Day-Ahead Market, the Intraday Markets or the Ancillary Services Markets. From the short-term generation planning point of view, the most important problem to solve is the bidding strategy for the Day-Ahead Market (DAM) given that the 85% of the physical energy traded in Spain is negotiated in it, but this participation cannot be tackled independently of other subsequent markets. |
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Optimal day-ahead bidding strategy with futures and bilateral contracts. Scenario generation through factor models
Wed, 07/21/2010 - 15:14 — admin| Publication Type | Conference Paper |
| Year of Publication | 2010 |
| Authors | Cristina Corchero; F.-Javier Heredia; M.-Pilar Muñoz |
| Conference Name | 24th European Conference on Operational Research |
| Conference Date | 11-14/07/2010 |
| Conference Location | Lisboa |
| Type of Work | Invited Presentation |
| Key Words | research; electrical markets; stochastic programming; forecasting |
| Abstract | We propose a stochastic programming model that gives the optimal bidding, bilateral (BC) and futures contracts (FC) nomination strategy for a price-taker generation company in the MIBEL. The objective of the study is to decide the optimal economic dispatch of the physical FC and BC among the thermal units, the optimal bidding at day-ahead market (DAM) abiding by the MIBEL rules and the optimal unit commitment that maximizes the expected profits from the DAM. For the uncertainty characterization, we apply the methodology of factors models to forecast market prices in a short-term horizon. |
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Optimal Day-Ahead Bidding in the MIBEL's Multimarket Energy Production System
Mon, 06/28/2010 - 15:17 — admin| Publication Type | Conference Paper |
| Year of Publication | 2010 |
| Authors | Cristina Corchero; F.-Javier Heredia |
| Conference Name | 7th Conference on European Energy Market EEM10 |
| Conference Date | 23-25/06/2010 |
| Conference Location | Madrid, Spain |
| Type of Work | Contributed Presentation |
| Key Words | research; multimarket; bilateral contracts; futures contracts; optimal bid; stochastic programming; MIBEL |
| Abstract | Abstract—A Generation Company (GenCo) can participate in the Iberian Electricity Market (MIBEL) through different mechanisms and pools: the bilateral contracts, the physical derivatives products at the Derivatives Market, the bids to the Day-Ahead Market, the Intraday Markets or the Ancillary Services Markets. From the short-term generation planning point of view, the most important problem to solve is the bidding strategy for the Day-Ahead Market (DAM) given that the 85% of the physical energy traded in Spain is negotiated in it, but this participation cannot be tackled independently of other subsequent markets. |
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Optimal Bidding Strategies for Thermal and Combined Cycle Units in the Day-ahead Electricity Market with Bilateral Contracts
Fri, 05/28/2010 - 09:58 — admin| Publication Type | Proceedings Article |
| Year of Publication | 2009 |
| Authors | Heredia, F.-Javier; Rider, Marcos.-J.; Corchero, C. |
| Conference Name | 2009 Power Engineering Society General Meeting |
| Pagination | 1-6 |
| Conference Start Date | 26/07/2010 |
| Publisher | IEEE |
| Conference Location | Calgary |
| ISSN Number | 1944-9925 |
| ISBN Number | 978-1-4244-4241-6 |
| Key Words | research; Electricity spot-market; bilateral contracts; combined cycle units; optimal bidding strategies; short-term electricity generation planning; stochastic programming; paper |
| Abstract | This paper developed a stochastic programming model that integrated the most recent regulation rules of the Spanish peninsular system for bilateral contracts in the day-ahead optimal bid problem. Our model allows a price-taker generation company to decide the unit commitment of the thermal and combined cycle programming units, the economic dispatch of the BC between all the programming units and the optimal sale bid by observing the Spanish peninsular regulation. The model was solved using real data of a typical generation company and a set of scenarios for the Spanish market price. The results are reported and analyzed. |
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| DOI | 10.1109/PES.2009.5275680 |
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Optimal Bidding Strategies for Thermal and Generic Programming Units in the Day-Ahead Electricity Market
Fri, 03/19/2010 - 16:00 — admin| Publication Type | Journal Article |
| Year of Publication | 2010 |
| Authors | Heredia, F.-J; Rider, M.-Julio; Corchero, C. |
| Journal Title | IEEE Transactions on Power Systems |
| Volume | 25 |
| Issue | 3 |
| Pages | 1504-1518 |
| Start Page | 1504 |
| Journal Date | Aug. 2010 |
| Publisher | IEEE Power & Energy Society |
| ISSN Number | 0885-8950 |
| Key Words | research; paper; bilateral contracts; electricity spot market; optimal bidding strategies; short-term electricity generation planning; stochastic programming; virtual power plant auctions |
| Abstract | This study has developed a stochastic programming model that integrates the day-ahead optimal bidding problem with the most recent regulation rules of the Iberian Electricity Market (MIBEL) for bilateral contracts (BC), with a special consideration for the new mechanism to balance the competition of the production market, namely virtual power plant (VPP) auctions. The model allows a price-taking generation company (GenCo) to decide on the unit commitment of the thermal units, the economic dispatch of the BCs between the thermal units and the generic programming unit (GPU), and the optimal sale/purchase bids for all units (thermal and generic), by observing the MIBEL regulation. The uncertainty of the spot prices has been represented through scenario sets built from the most recent real data using scenario reduction techniques. The model has been solved using real data from a Spanish generation company and spot prices, and the results have been reported and analyzed. |
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| DOI | 10.1109/TPWRS.2009.2038269 |
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Optimal Bidding Strategies for Thermal and Combined Cycle Units in the Day-ahead Electricity Market with Bilateral Contracts
Tue, 09/08/2009 - 10:28 — admin| Publication Type | Conference Paper |
| Year of Publication | 2009 |
| Authors | Heredia, F.-Javier; Rider, Marcos.-J.; Corchero, C. |
| Conference Name | 2009 Power Engineering Society General Meeting |
| Series Title | Proceedings of the Power Engineering Society General Meeting, 2009. IEEE |
| Volume | 1 |
| Pagination | 1-6 |
| Conference Date | 26-30/07/2009 |
| Publisher | IEEE |
| Conference Location | Calgary, Alberta, Canada |
| Editor | IEEE |
| Type of Work | Contributed oral presentation |
| ISSN Number | 1944-9925 |
| ISBN Number | 978-1-4244-4241-6 |
| Key Words | research; stochastic programming; electricity markets; day-ahead market, bilateral contracts; Combined Cycle Units; optimal bid |
| Abstract | This paper developed a stochastic programming model that integrated the most recent regulation rules of the Spanish peninsular system for bilateral contracts in the dayahead optimal bid problem. Our model allows a price-taker generation company to decide the unit commitment of the thermal and combined cycle programming units, the economic dispatch of the BC between all the programming units and the optimal sale bid by observing the Spanish peninsular regulation. The model was solved using real data of a typical generation company and a set of scenarios for the Spanish market price. The results are reported and analyzed. |
| URL | Click Here |
| DOI | 10.1109/PES.2009.5275680 |
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Stochastic programming models for optimal bid strategies in the Iberian Electricity Market
Tue, 09/01/2009 - 13:56 — admin| Publication Type | Conference Paper |
| Year of Publication | 2009 |
| Authors | F.-Javier Heredia; Cristina Corchero |
| Conference Name | The 20th International Symposium of Mathematical Programming (ISMP) |
| Conference Date | 23-28/08/2009 |
| Conference Location | Chicago |
| Type of Work | Invited oral presentation |
| Key Words | research; stochastic programming; electricity markets; day-ahead market; bilateral contracts; futures contracts; optimal bid |
| Abstract | The day-ahead market is not only the main physical energy market of Portugal and Spain in terms of the amount of traded energy, but also the mechanism through which other energy products, as bilateral (BC) and physical futures contracts (FC), are integrated into the Iberian Electricity Market (MIBEL) energy production system. We propose stochastic programming models that give the optimal bidding and BC and FC nomination strategy for a price-taker generation company in the MIBEL. Implementation details and some first computational experiences for small real cases are presented. |
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Optimal Bidding Strategies for Thermal and Generic Programming Units in the Day-ahead Electricity Market
Fri, 12/19/2008 - 10:57 — admin| Publication Type | Report |
| Year of Publication | 2008 |
| Authors | Heredia, F.-Javier, Rider, Marcos.-J., Corchero, C. |
| Pages | 12 |
| Date | 11/2008 |
| Reference | Research report DR 2008/13, Dept. of Statistics and Operations Research. E-Prints UPC, http://hdl.handle.net/2117/2468. Universitat Politècnica de Catalunya |
| Prepared for | Published on august 2010 at IEEE Transactions on Power Systems |
| Key Words | research; stochastic programming; electricity markets; day-ahead market, bilateral contracts; Virtual Power Plants; optimal bid |
| Abstract | This paper develops a stochastic programming model that integrates the day-ahead optimal bidding problem with the most recent regulation rules of the Iberian Electricity Market (MIBEL) for bilateral contracts, with a special consideration for the new mechanism to balance the competition of the production market, namely virtual power plants auctions (VPP). The model allows a price-taker generation company to decide the unit commitment of the thermal units, the economic dispatch of the bilateral contracts between the thermal units and the generic programming unit (GPU) and the optimal sale/purchase bids for all units (thermal and generic) observing the MIBEL regulation. The uncertainty of the spot prices is represented through scenario sets built from the most recent real data using scenario reduction techniques. The model was solved with real data from a Spanish generation company and spot prices, and the results are reported and analyzed. |
| URL | Click Here |
| Export | Tagged XML BibTex |
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