Market-based real-time dispatch in the Hellenic power system

Emergence of energy markets in all the countries of the European Union is now a reality. In Greece, liberalization of the electricity market entered into effect the 19^th February 2001. This paper deals with the Hellenic energy market structure and operation, as handled by the Hellenic Transmission System Operator (HTSO), who acts as a system operator and market operator. In compliance with the Hellenic market rules, the optimization-based framework for solving the market-based realtime dispatch problem is presented. Hydros vs. thermal dispatch specificities are described and numerical examples are included to illustrate them.