Generator Energy Nodal Offering Model

Abstract

Generation companies in deregulated electricity markets compete regularly to try and dispatch their electricity at favorable prices. Various models have been used to optimise this function. This research has developed a revised mixed-integer model to determine the optimal o er strategy. The Generator Energy Nodal O ering Model (GENOM) was formulated to solve this problem and was successful in nd- ing global solutions. The New Zealand electricity market was used to investigate the model. It was found that o er strategies derived from multinodal networks generated greater pro ts than modeling the network as a single node. Among other conclusions, it was also found that if a generation company has the ability to constrain power lines, they have a potential to greatly in uence spot prices. The choice to constrain the line is based on the location and size of their generation units and their retail customers in the network.