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Using of a Costbased Unit Commitment Algorithm to Assist Bidding Strategy Decisions

By A. Borghetti, A. Frangioni, F. Lacal, C. A. Nucci and P. Pelacchi

Abstract

Abstract—The paper describes a procedure developed to assist a generating company in choosing the most convenient bidding strategies for a day-ahead electricity energy market. According to the proposed method, the profit maximization problem is transformed into a minimization problem that can be solved by a traditional hydro-thermal unit commitment program after implementing a few modifications. The paper describes the modifications introduced in a unit commitment program based on the Lagrangian relaxation approach and on a disaggregated Bundle method for the solution of the dual problem. It also presents some results obtained for a realistic data set of hydrothermal power plants. The results are discussed in order to emphasize how the method can be applied to assess the bidding strategy choice of a given company. Index Terms—Unit commitment, electricity market, bidding strategies. I. NOMENCLATURE I, I ’ set of indexes of available thermal units in the system and those belonging to the company, respectively ( I: number of thermal units; i: thermal unit index). H, H ’ set of indexes of available hydro units in the system and those belonging to the company, respectively ( H: number of hydro units; h: hydro unit index). T set of time periods in the optimization horizon ( T: number of time periods; t: time period index). D T-dimensional vector of load demands Dt in each period t. u I-rows T-columns matrix, whose rows are the T-dimensional arrays ui of the 0-1 variables ui,t indicating the commitment state of thermal unit i during period t. pI I-rows T-columns matrix, whose rows are the T-dimensional arrays pi of production levels pi,t of thermal unit i during each period t

Year: 2003
OAI identifier: oai:CiteSeerX.psu:10.1.1.134.3458
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