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. |
| URL | Click Here |
| Export | Tagged XML BibTex |
| Attachment | Size |
|---|---|
| EURO2010_gnom.pdf | 706.7 KB |
| EUROXXIV Lisbon CertAssis Javier Heredia.pdf | 22.74 KB |
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