Multi-node offer stack optimization over electricity networks

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dc.contributor.author Downward, Anthony en
dc.contributor.author Tsai, D en
dc.contributor.author Weng, Y en
dc.contributor.editor Sheibani, K en
dc.contributor.editor Montemanni, R en
dc.contributor.editor Nordlander, T en
dc.contributor.editor Hirsch, P en
dc.contributor.editor Vanhoucke, M en
dc.coverage.spatial Vancouver, BC Canada en
dc.date.accessioned 2018-10-07T21:11:19Z en
dc.date.issued 2014 en
dc.identifier.issn 2008-0050 en
dc.identifier.uri http://hdl.handle.net/2292/39106 en
dc.description.abstract In this work we examine the problem that electricity generators face when offering power at multiple locations into an electricity market. The amount of power offered at each node can affect the price at the other node, so it is important to optimize all offers simultaneously. Even with perfect information (i.e. known demand, and known offers from competitors) this is a non-convex bi-level optimization problem. We first show how this can be formulated as an integer program using special ordered sets of type 2 (SOS2) enabling this problem to be solved efficiently. We then extend this work to allow for uncertainty, and hence find the profit maximising offer stacks at each node (as opposed to a single quantity, as in the deterministic case). We demonstrate the intuition that we can gain from this model in a simple two-node example, and discuss extensions to this work such as the co-optimization of reserve and generation, as well as demand-side bidding. en
dc.publisher Tadbir Operational Research Group Ltd en
dc.relation.ispartof 6th International Conference on Applied Operational Research en
dc.relation.ispartofseries Lecture Notes in Management Science en
dc.rights Items in ResearchSpace are protected by copyright, with all rights reserved, unless otherwise indicated. Previously published items are made available in accordance with the copyright policy of the publisher. en
dc.rights.uri https://researchspace.auckland.ac.nz/docs/uoa-docs/rights.htm en
dc.title Multi-node offer stack optimization over electricity networks en
dc.type Conference Item en
pubs.begin-page 228 en
pubs.volume 6 en
dc.rights.holder Copyright: The author en
pubs.author-url http://www.orlabanalytics.ca/lnms/archive/v6/lnmsv6p228.pdf en
pubs.end-page 238 en
pubs.finish-date 2014-07-31 en
pubs.start-date 2014-07-29 en
dc.rights.accessrights http://purl.org/eprint/accessRights/RestrictedAccess en
pubs.subtype Proceedings en
pubs.elements-id 517002 en
pubs.org-id Engineering en
pubs.org-id Engineering Science en
dc.identifier.eissn 1927-0097 en
pubs.record-created-at-source-date 2016-01-15 en


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