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Optimization of the bidding curve in reserve markets

F.A. Campos, A. Muñoz, E.F. Sánchez-Úbeda, J. Portela, R. González Hombrados, J. Rodríguez Marcos, A. González Castrillón

With the increasing penetration of intermittent technologies, such as renewable energy sources, electricity secondary (spinning) reserve markets are getting much relevance all around the world to constantly maintain the balance between generation and demand. In this new context, generation utilities are increasingly demanding powerful tools to better optimize their bidding reserve curves, trying to maximize their benefits while satisfying the secondary system necessities published by the System Operators. This paper describes three new integer optimization models to obtain an optimized real bidding secondary reserve curve of an only generation company, assuming a set of residual demand curves for its competitors’ representation. The case study shows the main features of the optimization models by their application to the Spanish secondary reserve market.


Palabras clave: Electricity Markets, Ancillary Services, Mixed Integer Programming, Bidding Strategies, Residual Demand Curve.

IEEE 10th International conference on the european energy market - EEM2013, Estocolmo (Suecia). 27 mayo 2013

Fecha de publicación: mayo 2013.



Cita:
F.A. Campos, A. Muñoz, E.F. Sánchez-Úbeda, J. Portela, R. González Hombrados, J. Rodríguez Marcos, A. González Castrillón, Optimization of the bidding curve in reserve markets, IEEE 10th International conference on the european energy market - EEM2013. ISBN: 978-1-4799-2008-2, Estocolmo, Suecia, 27-31 Mayo 2013


    Líneas de investigación:
  • *Modelado, Simulación y Optimización
  • *Programación de la Operación a Corto Plazo, Elaboración de Ofertas y Análisis de Reservas de Operación

IIT-13-059A

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