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Offering Strategy Via Robust Optimization

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2 Author(s)
Baringo, L. ; Univ. Castilla-La Mancha, Ciudad Real, Spain ; Conejo, A.J.

This paper provides a technique to build hourly offering curves for a price-taker producer participating in a pool. The technique relies on solving a sequence of robust mixed-integer linear programming problems. Instead of using price predictions as input data, price confidence intervals are considered. These intervals are successively divided into a sequence of nested subintervals, which allow formulating a collection of meaningful and easy-to-solve robust mixed-integer linear programming problems. The solutions of these problems provide adequate information to build hourly offering curves.

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Power Systems, IEEE Transactions on  (Volume:26 ,  Issue: 3 )