Journal
IEEE TRANSACTIONS ON POWER SYSTEMS
Volume 20, Issue 2, Pages 701-708Publisher
IEEE-INST ELECTRICAL ELECTRONICS ENGINEERS INC
DOI: 10.1109/TPWRS.2005.846082
Keywords
demand-side bidding; electricity markets; stochastic optimization
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We propose a stochastic linear programming model for constructing piecewise-linear bidding curves to be submitted to Nord Pool, which is the Nordic power exchange. We consider the case of a price-taking power marketer who supplies electricity to price-sensitive end users. The objective is to minimize the expected cost of purchasing power from the day-ahead energy market and the short-term balancing market. The model is illustrated using a case study with data from Norway.
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