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EnglishThe paper describes a procedure developed to assist a generating company in choosing the most convenient bidding strategies for a day-ahead electricity energy market. According to the proposed method, the profit maximization problem is transformed into a minimization problem that can be solved by a traditional hydro-thermal unit commitment program after implementing a few modifications. The paper describes the modifications introduced in a unit commitment program based on the Lagrangian relaxation approach and on a disaggregated Bundle method for the solution of the dual problem. It also presents some results obtained for a realistic data set of hydrothermal power plants. The results are discussed in order to emphasize how the method can be applied to assess the bidding strategy choice of a given company.
| Titolo: | Using of a cost-based Unit Commitment algorithm to assist bidding strategy decisions |
| Autori interni: | |
| Anno del prodotto: | 2003 |
| Abstract: | The paper describes a procedure developed to assist a generating company in choosing the most convenient bidding strategies for a day-ahead electricity energy market. According to the proposed method, the profit maximization problem is transformed into a minimization problem that can be solved by a traditional hydro-thermal unit commitment program after implementing a few modifications. The paper describes the modifications introduced in a unit commitment program based on the Lagrangian relaxation approach and on a disaggregated Bundle method for the solution of the dual problem. It also presents some results obtained for a realistic data set of hydrothermal power plants. The results are discussed in order to emphasize how the method can be applied to assess the bidding strategy choice of a given company. |
| Handle: | http://hdl.handle.net/11568/191501 |
| ISBN: | 0780379683 |
| Appare nelle tipologie: | 4.1 Contributo in Atti di convegno |
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http://hdl.handle.net/11568/191501
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