Optimal bidding strategies for thermal and combined cycle units in the day-ahead electricity market with bilateral contracts
Document typeConference report
Rights accessOpen Access
This paper developed a stochastic programming model that integrated the most recent regulation rules of the Spanish peninsular system for bilateral contracts in the dayahead optimal bid problem. Our model allows a price-taker generation company to decide the unit commitment of the thermal and combined cycle programming units, the economic dispatch of the BC between all the programming units and the optimal sale bid by observing the Spanish peninsular regulation. The model was solved using real data of a typical generation company and a set of scenarios for the Spanish market price. The results are reported and analyzed.
CitationHeredia, F.-Javier; Rider, M.; Corchero, C. Optimal bidding strategies for thermal and combined cycle units in the day-ahead electricity market with bilateral contracts. A: IEEE Power Engineering Society General Meeting. "2009 Power Engineering Society General Meeting". Calgary: 2009, p. 1-6.