A yearly stochastic self-scheduling model for a price-maker hydro producer is presented. In the short term, aims at maximizing profits in day-ahead market. Residual demand curves producer's interaction with his competitors and load demand. modification of residual curve proposed to enable definition optimal pumped-hydro bids. Multistage programming provides hedging against mid-term uncertainty inflows, demand, competitors' offers. The method models impact short-term profit maximization...

With the advent of bulk volumes renewable energy, RES aggregators have evolved into key market players energy industry. This paper presents a holistic approach to derive optimal offering strategy price-taker aggregator in day-ahead and ancillary services markets. The day-ahead, real-time balancing functions are modeled detail. Fundamental imbalance settlement mechanisms examined, namely Single Pricing, Two Price Dual Pricing. Several sources uncertainty considered affecting prices, prices...

This paper presents a model for the simulation of optimal medium-term operation hydrothermal system. System stochastic parameters are modeled by Monte Carlo scenarios, which solved on distributed processors. For each scenario yearly hydro-thermal scheduling (HTS) problem with hourly time resolution is formulated and as large mixed integer linear program (MILP). HTS modeling includes unit commitment, start-up costs minimum up/down constraints. The applied to Greek power system, comprising 29...

The objective of this paper is to present a mixed-integer approach the yearly self-scheduling problem price-maker hydro producer with pumped storage. producer's bidding strategy modeled through residual demand curve, which provides market clearing price as function quota. curve properly modified, enabling definition optimal pumping bids. nonlinear profit linearized by using binary variables. A program thus formulated; model hourly constraints include reservoir water balance, volume limits...

This paper describes the development and application of Stochastic Dual Dynamic Programming (SDDP) algorithm for solving optimal medium-term hydrothermal scheduling in Greek power system. The method aims at providing a more elaborate optimization tool compared to traditional approaches used Greece; latter have been developed on deterministic assumptions, while proposed recognizes impact inflow uncertainty provides well-hedged management strategies each reservoir. described is using...

The objective of this paper is to address the self-scheduling a power producer in pool-based energy market where cost recovery mechanism applicable. Under framework, generating units are guaranteed receive payment at least equal their actual operating cost, if committed. In proposed model, effect on plant's revenues included profit maximization problem producer, who assumed be price-taker. method developed as mixed-integer linear program using GAMS/CPLEX and tested for simple case small...

This paper addresses the problem of coordination day-ahead scheduling with a stochastic weekly unit commitment for efficient slow-start thermal units. The solution 24-hour may lead to cases, in which units that are initially offline cannot be scheduled efficiently, due their long start-up and minimum-up times as well large costs. Thus, new method is proposed, coordinated commitment. latter formulated solved two-stage mixed-integer linear program, under various system operating constraints,...

This paper presents an optimization-based method to model the mid-term operation of a hydrothermal power system in competitive market. Two market structures are examined: perfect competition and oligopoly comprising dominant firm with fringe. In latter, bidding strategy is determined by solving profit maximization problem; forward contracts also modeled. Producers submit offers day-ahead market, which cleared operator on bid-cost minimization basis. A yearly planning horizon hourly time...

This paper presents a mixed-integer optimization approach to the yearly hydrothermal scheduling problem. The proposed method is applied system comprising 29 thermal units and 13 hydroplants, including 2 pumped storage plants, similar Greek Power System. generation model based on an hourly load curve. Perfect competition assumption adopted all generators are assumed bid their marginal cost. A large programming problem formulated implemented in GAMS. Binary variables represent unit commitment...

The generation maintenance scheduling problem faced by a power producer aims at defining the optimal time intervals for of each generating unit. planning horizon is typically mid-term (year-ahead). In this paper, annual thermal solved with respect to economic and technical security criteria. aim maximize yearly profit, while simultaneously satisfying operating constraints producer's units. Specific regarding unit are also taken into consideration, such as avoiding simultaneous planned outage...

This paper analyzes the impact of natural gas supply, increased penetration renewable energy sources and shifting demand trends due to tight financial conditions on generating unit maintenance scheduling. The main focus is importance enhancing availability in periods concurrent peak electricity limited RES contribution, through proper adjustment power system rules. In systems with summer high photovoltaic penetration, this translates into enforcing during winter. A detailed mixed-integer...