Fuel Contract Acquisition for Economic Operation by the Supply Chain Method

The ability to meet the demand for electricity in an electrical power system depends not only on subsystems of generation, transmission and distribution, but also the ability to supply the primary energy sources such as natural gas, oil and coal, since the effects of a contingency in some of the subsystems, including supply networks can propagate and affect the operation of the system in terms of availability and price. Traditionally, the operation of electrical power systems has been developed by omitting supply energy aspects and the use of financial instruments as part of a trade policy. In this work, a comprehensive model, that includes fuels transportation networks, fuel storage and units´ maintenance program, able to solve large-scale systems, under a centralized decision-making is developed. The objective is to assess the operation and acquisition of take-or-pay contracts, contracts for differences, and Swaps contracts in the economic operation of electrical power systems. Additionally, generating units CO2 emission constraints are relaxed through the transference of emissions bonuses.