Ir arriba
Información del artículo

Stochastic market equilibrium model for generation planning

J. Barquín, E. Centeno, J. Reneses

Probability in the Engineering and Informational Sciences Vol. 19, nº. 4, pp. 533 - 546

It is widely accepted that medium-term generation planning can be advantageously modeled through market equilibrium representation. There exist several methods to define and solve this kind of equilibrium in a deterministic way. Medium-term planning is strongly affected by uncertainty in market and system conditions; thus, extensions of these models are commonly required. The main variables that should be considered as subject to uncertainty include hydro conditions, demand, generating units\' failures, and fuel prices. This paper presents a model to represent a medium-term operation of the electrical market that introduces this uncertainty in the formulation in a natural and practical way. Utilities are explicitly considered to be maximizing their expected profits, and biddings are represented by means of a conjectural variation. Market equilibrium conditions are introduced by means of the optimality conditions of a problem, which has a structure that strongly resembles classical optimization of hydrothermal coordination. A tree-based representation to include stochastic variables and a model based on it are introduced. This approach to market representation provides three main advantages: Robust decisions are obtained; technical constraints are included in the problem in a natural way, additionally obtaining dual information; and large-size problems representing real systems in detail can be addressed.

Índice de impacto JCR y cuartil WoS: 0,731 (2005); 1,100 - Q3 (2022)

Referencia DOI: DOI icon

Publicado en papel: Octubre 2005.

J. Barquín, E. Centeno, J. Reneses, Stochastic market equilibrium model for generation planning. Probability in the Engineering and Informational Sciences. Vol. 19, nº. 4, pp. 533 - 546, Octubre 2005.

    Líneas de investigación:
  • *Planificación táctica a medio plazo

pdf Previsualizar
pdf Solicitar el artículo completo a los autores