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Production cost minimization versus consumer payment minimization in electricity pools

C. Vázquez, M. Rivier, I.J. Pérez-Arriaga

Algorithms that involve some kind of optimisation have been adopted by several electricity pools as a tool to clear the market. Traditionally, this kind of models were used on a cost minimising basis, but recent papers have pointed out that alternative dispatches may be obtained that, even with higher production costs, provide cheaper electricity prices for consumers. This paper studies this new payment-minimisation approach, focusing on the long-term economic signals that it provides and analysing their impact on future investments. Our results show that minimising consumer payment results in discriminatory scheduling for certain generation resources and may cause, in the long-run, higher prices for consumers.


Palabras clave: Deregulation, power generation dispatch, pool design, market clearing algorithm, unit commitment, marginal pricing


IEEE Transactions on Power Systems. Volumen: 17 Numero: 1 Páginas: 119-127

Índice de impacto JCR y cuartil Scopus: 0.667 (2002); 5.255 - Q1 (2017).

Referencia DOI: DOI icon 10.1109/59.982202    

Publicado en papel: Febrero 2002.



Cita:
C. Vázquez, M. Rivier, I.J. Pérez-Arriaga. Production cost minimization versus consumer payment minimization in electricity pools. IEEE Transactions on Power Systems. vol. 17, no. 1, pp. 119-127, Febrero 2002.


    Líneas de investigación:
  • *Diseño y regulación de mercados energéticos

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