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Project information

Implementation of a generation bidding model in the day-ahead energy market in Spain

T. Gómez D. Berzal J.I. de la Fuente

October 1999 - September 2000

Funding entity Unión Fenosa Generación

The objective of this project is to implement two previously developed models at the computer center at Unión Fenosa (UF):
1.- Module for UF generation bidding in the day-ahead energy market in Spain. This model determines the optimal quantity and price that each generation unit belonging to UF has to bid in the market by assuming that the residual demand (total forecasted demand minus generation bids from competitors) is known previously.
2.- Statistical analysis module to forecast market prices and UF residual demand curves.

The previous modules will be implemented in a modular and user-friendly software program that can be used in a systematic way by UF staff. Research will also be carried out into potential modeling improvements and new algorithms to solve optimization problems.

    Research topics:


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