Solving electricity market quadratic problems by Branch and Fix Coordination methods

Publication TypeConference Paper
Year of Publication2011
AuthorsF.-Javier Heredia; Cristina Corchero; Eugenio Mijangos
Conference Name25th IFIP TC7 Conference on System Modeling and Optimization
Conference Date12-16/09/2011
Conference LocationBerlin
Type of Workcontributed presentation
Key Wordsresearch; optimal bid; day-ahead electricity market; branch and fix coordination; perspective cuts; bilateral contracts; futures contracts; stochastic programming
AbstractThe electric market regulation in Spain (MIBEL) establishes the rules 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 units, the economic dispatch of the bilateral contracts between the thermal units and the optimal sale bids for the thermal units observing the MIBEL regulation. The uncertainty of the spot prices is represented through scenario sets. We solve this model on the framework of the Branch and Fix Coordination metodology as a quadratic, two-stage stochastic problem. Numerical results are reported.
URLClick Here
ExportTagged XML BibTex
Heredia_Corchero_Mijangos_IFIP25_slides_11.pdf924.62 KB