An Integrated Optimization of Production Planning and Day Ahead Electricity Market Bidding for Combined Cycle Natural Gas Power Plants


Öztürk H. N., Ertoğral K.

31st European Conference on Operational Research (EURO), Athens, Yunanistan, 11 - 14 Temmuz 2021, ss.250

  • Yayın Türü: Bildiri / Özet Bildiri
  • Basıldığı Şehir: Athens
  • Basıldığı Ülke: Yunanistan
  • Sayfa Sayıları: ss.250
  • Gazi Üniversitesi Adresli: Evet

Özet

In this study, an integrated model is presented for a producer with a combined natural gas cycle power plant that maximizes its expected profit and proposes an hourly production plan and the Day Ahead Mar- ket (DAM) offers under market clearing price uncertainty. Market operator decides both market clearing price and amount for each hour for the next day. Thus, for each market participant, if a match is achieved, their obligations for the next day are reported. In DAMs there are two major order types applied which are single hour orders and block orders. Hourly orders can be selected at different hours within their valid hours. Block orders consist of consecutive hours that cannot be divided. Generating less electricity than the specified amount in the market causes incurring penalties, and generating excess electric- ity causes compromise from profits. Therefore, there is a relationship between bidding and production planning. The general modeling approach consists of two parts, namely the production model and the bidding model. In the production model, possible hourly production levels are made discrete and model chooses one of these discrete production levels for every hour. In the bidding model, it creates bids for DAM by considering the hourly production quantities. Since the mar- ket clearance price is stochastic parameter, we propose a sim-heuristic type solution approach for the problem and show the effectiveness of our approach on a set of real-life based problems.