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Application of benders decomposition to an equilibrium problem

J. Cabero, Á. Baíllo, S. Cerisola, M. Ventosa

In this paper we propose an algorithm for addressing the medium term hydrothermal coordination problem faced by a generation company when operating in an electricity market. This problem is formulated and solved as a stochastic Linear Mixed Complementarity Problem. In order to deal with realistic problems, we propose the use of Bender’s decomposition technique. A numerical example in the context of the Spanish electricity market illustrates the potential of the algorithm we propose.


Keywords: Market equilibrium, complementarity problem, stochastic programming, Benders decomposition.

15th PSCC, Power Systems Computing Conference, Liege (Belgium). 22-26 August 2005

Publication date: August 2005.



Citation:
J. Cabero, Á. Baíllo, S. Cerisola, M. Ventosa, Application of benders decomposition to an equilibrium problem, 15th PSCC, Power Systems Computing Conference. Lieja, Belgium, 22-26 August 2005


    Research topics:

IIT-05-017A

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