Abstract

MARULANDA GUERRA, Agustín R  and  FUENMAYOR ANDRADE, Kilkenis. Auction mechanism of energy with hydro constraints. Rev. Téc. Ing. Univ. Zulia [online]. 2007, vol.30, n.Especial, pp.290-299. ISSN 0254-0770.

In a competitive electricity market generation companies have to maximize their benefits selecting the best strategy, therefore it is necessary to previously know the spot price. This paper presents a model to determine market clearing prices and hourly generation levels of each participant over a 24-hour period including into the model hydrothermal constraints. The optimal competitive market equilibrium problem is formulated as a large-scale mixed integer linear programming algorithm and is solved by using an optimisation package. The model incorporates the following elements: thermal plants (maximum up and down ramp), hydro units, hydro system (cascaded reservoirs, spillway flow, generator I/O characteristic), and inelastic demand. A numerical test of a day ahead market is presented.

Keywords : Competitive market equilibrium; electricity market; hydrothermal systems; mixed integer linear programming.