Optimal response of a thermal unit to an electricity spot market

Author

Arroyo, J.M. ; Conejo, A.J.

Author_Institution

Dept. de Ingenieria Electr. y Electron., Univ. de Castilla-La Mancha, Spain

Volume

15

Issue

3

fYear

2000

fDate

8/1/2000 12:00:00 AM

Firstpage

1098

Lastpage

1104

Abstract

This paper addresses the optimal response of a thermal unit to an electricity spot market. The objective is to maximize the unit profit from selling both energy and spinning reserve in the spot market. The paper proposes a 0/1 mixed-integer linear programming approach that allows a rigorous modeling of (i) nonconvex and nondifferentiable operating costs, (ii) exponential start-up costs, (iii) available spinning reserve taking into account ramp rate restrictions, and (iv) minimum up and down time constraints. This approach overcomes the modeling limitations of dynamic programming approaches and is computationally efficient. Results from realistic case studies are reported

Keywords

electricity supply industry; integer programming; linear programming; thermal power stations; 0/1 mixed-integer linear programming; electricity spot market; energy selling; exponential start-up costs; minimum up and down time constraints; nonconvex operating costs; nondifferentiable operating costs; optimal response; ramp rate restrictions; spinning reserve; spot market; thermal unit; Cost function; Dynamic programming; Economic forecasting; Job shop scheduling; Lagrangian functions; Linear programming; Power generation; Production; Spinning; Time factors;

fLanguage

English

Journal_Title

Power Systems, IEEE Transactions on

Publisher

ieee

ISSN

0885-8950

Type

jour

DOI

10.1109/59.871739

Filename

871739