Strategies to fulfill medium-term objectives through short-term operation in competitive power markets
This work presents two different approaches in order to guarantee that short-term decisions made by a generation company taking part in a wholesale electricity market are consistent with its operation objectives formulated from a medium-term perspective. In particular, it shows how certain economic...
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| creator | Reneses, J. Baillo, A. Centeno, E. Ventosa, M. Rivier, M. Ramos, A. |
| description | This work presents two different approaches in order to guarantee that short-term decisions made by a generation company taking part in a wholesale electricity market are consistent with its operation objectives formulated from a medium-term perspective. In particular, it shows how certain economic signals must be used so as to orient short-term decisions toward medium-term objectives. The paper focuses in the case of a generation company that establishes a minimum-market-share objective for the medium term, and shows the implications of the different guidelines that can be used in the short-term operation in order to achieve that objective. |
| doi_str_mv | 10.1109/PTC.2003.1304605 |
| format | Conference Proceeding |
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| ispartof | 2003 IEEE Bologna Power Tech Conference Proceedings, 2003, Vol.2, p.7 pp. Vol.2 |
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| subjects | Costs Electricity supply industry Guidelines Power generation Power generation economics Power markets Power system economics Power system planning Resource management Scheduling |
| title | Strategies to fulfill medium-term objectives through short-term operation in competitive power markets |
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