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Modeling Competitive Electricity Markets Using
Mixed Integer Programming Techniques
Abstract:
A model of electric generation competition is developed. Although the economic theory of competitive
markets and optimization programming is not new, the application of MIP techniques to markets with
complicated structures has perhaps lagged. Older dispatch models relied on heuristic solutions or large
hardware investments. New desktop software technology allows economists to optimize MIP models
with 30,000+ variables.
- Modeling Competitive Electricity Markets Using Mixed Integer Programming Techniques
- Ingredients for Electricity Restructuring Success
- Thermal Problem
- Hydro Sub Problem
- Data & Inputs
- Price Duration Curves
- Example of Hydro & Thermal Unit Dispatch
- Half Year Hydro Energy Use
- Technical Performance of The Model
- Conclusions
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