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Bidding in a Day-Ahead Electricity Market: A Comparison of Decomposition Techniques

Á. Baíllo, M. Ventosa, M. Rivier, A. Ramos, G. Relaño

Daily bidding is an activity of paramount importance for generation companies operating in dayahead electricity markets. The authors have developed a strategic bidding procedure based on stochastic programming to obtain optimal bids. In this paper, this large-scale mathematical programming problem is solved under the Benders and Lagrangian relaxation frameworks to determine the adequacy of these techniques to solve the optimal bidding problem. Numerical examples illustrate the conclusions of this research.


Keywords: Competitive electricity market, bidding, Benders decomposition, Lagrangian relaxation.

14th Power systems computation conference -PSCC,Session 7, paper 2, page 1-7, Seville (Spain). 24-28 June 2002

Publication date: June 2002.



Citation:
Á. Baíllo, M. Ventosa, M. Rivier, A. Ramos, G. Relaño, Bidding in a Day-Ahead Electricity Market: A Comparison of Decomposition Techniques, 14th Power systems computation conference -PSCC,Session 7, paper 2, page 1-7. ISBN: 84-89673-25-X, pp. 7, Sevilla, Spain, 24-28 June 2002


    Research topics:
  • *Short-Term Operation, Market Bidding and Operating Reserves

IIT-02-004A

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