F.-Javier Heredia - Academic web site

Publication Type	Conference Paper
Year of Publication	2009
Authors	M.-Teresa Vespucci; Cristina Corchero; Mario Innorta; F.-Javier Heredia
Conference Name	11th International Conference on the Modern Information Technology in the Innovation Processes of the Industrial Enterprises (MITIP 2009)
Series Title	Proceedings of the 11th International Conference on the Modern Information Technology in the Innovation Processes of the Industrial Enterprises (MITIP 2009)
Conference Date	15-16/10/2009
Conference Location	Bergamo, Italy
Type of Work	invited presentation
ISBN Number	978-88-89555-09-05
Key Words	research; hydro-thermal; futures; day-ahead; GAMS, CPLEX
Abstract	We consider a generation company operating in the liberalized electricity market, whose production system consists of hydro and thermal plants. Production is sold either directly to customers, by means of bilateral contracts, or on the spot market, where the electricity price is unknow until the market clearing process has taken place. Price risk may be hedged by financial tools provided by the Derivative Electricity Market. In this work futures contracts are considered, i.e. agreements to sell electricity in the future for a specified price. A Mixed Integer Linear Programming model is introduced for determining the unit commitment of thermal units and the dispatchment of available thermal units and hydro plants, aiming at maximizing profits. Numerical results on a case study are reported
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Publication Type	Conference Paper
Year of Publication	2010
Authors	F.-Javier Heredia; Cristina Corchero; M.-Pilar Muñoz; Eugenio Mijangos
Conference Name	Conference on Numerical Optimization and Applications in Engineering (NUMOPEN-2010)
Conference Date	13-15/10/2010
Conference Location	Centre de Recerca Matemàtica. UAB. Barcelona, Spain.
Type of Work	Invited presentation
Key Words	research; electricity markets; stochastic programming; perspective cuts; TSFA; DPI2008-02153
Abstract	The participation in national and international electricity markets has became a very complex decision making process. Electrical utilities participating in such liberalized market have to decide daily the operation, generation scheduling and optimal bid of each one of their generation units in several consecutives day-ahead markets. In the talk, we will describe the operation rules of the Iberian Electricity Market (MIBEL), how this operation can be mathematically modelled with the help of stochastic programming into large scale nonlinear integer problems and how these difficult optimization problems can be solved with specialised algorithms. Finally, the results found for several cases with real data of Spanish utilities and MIBEL market prices will be shown.
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Publication Type	Report
Year of Publication	2010
Authors	Cristina Corchero; F.-Javier Heredia
Pages	6
Date	07/2010
Reference	Research report DR 2010/**, Dept. of Statistics and Operations Research. E-Prints UPC, http://hdl.handle.net/2117/8390. Universitat Politècnica de Catalunya
Prepared for	Published by the IEEE at the proceedings of the 7th Conference on European Energy Market EEM10, Madrid, Spain
Key Words	research; electricity markets; multimarkets; day-ahead market; intraday market; AGC market; stochastic programming
Abstract	A Generation Company (GenCo) can participate in the Iberian Electricity Market (MIBEL) through different mechanisms and pools: the bilateral contracts, the physical derivatives products at the Derivatives Market, the bids to the Day-Ahead Market, the Intraday Markets or the Ancillary Services Markets. From the short-term generation planning point of view, the most important problem to solve is the bidding strategy for the Day-Ahead Market (DAM) given that the 85% of the physical energy traded in Spain is negotiated in it, but this participation cannot be tackled independently of other subsequent markets.
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Publication Type	Conference Paper
Year of Publication	2010
Authors	Cristina Corchero; F.-Javier Heredia; M.-Pilar Muñoz
Conference Name	24th European Conference on Operational Research
Conference Date	11-14/07/2010
Conference Location	Lisboa
Type of Work	Invited Presentation
Key Words	research; electrical markets; stochastic programming; forecasting
Abstract	We propose a stochastic programming model that gives the optimal bidding, bilateral (BC) and futures contracts (FC) nomination strategy for a price-taker generation company in the MIBEL. The objective of the study is to decide the optimal economic dispatch of the physical FC and BC among the thermal units, the optimal bidding at day-ahead market (DAM) abiding by the MIBEL rules and the optimal unit commitment that maximizes the expected profits from the DAM. For the uncertainty characterization, we apply the methodology of factors models to forecast market prices in a short-term horizon.
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Publication Type	Conference/School/Seminar attendance
Year of Publication	2010
Authors	F.-Javier Heredia
Conference Name	KIC InnoEnergy CC Iberia
Event Type	Workshop
Conference Organiser	Universitat Politècnica de Catalunya
Conference Dates	07/06/2010
Conference Location	Barcelona, Spain
Key Words	research, power systems; renewables; sustainability
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Publication Type	Conference Paper
Year of Publication	2010
Authors	Cristina Corchero; F.-Javier Heredia
Conference Name	7th Conference on European Energy Market EEM10
Conference Date	23-25/06/2010
Conference Location	Madrid, Spain
Type of Work	Contributed Presentation
Key Words	research; multimarket; bilateral contracts; futures contracts; optimal bid; stochastic programming; MIBEL
Abstract	Abstract—A Generation Company (GenCo) can participate in the Iberian Electricity Market (MIBEL) through different mechanisms and pools: the bilateral contracts, the physical derivatives products at the Derivatives Market, the bids to the Day-Ahead Market, the Intraday Markets or the Ancillary Services Markets. From the short-term generation planning point of view, the most important problem to solve is the bidding strategy for the Day-Ahead Market (DAM) given that the 85% of the physical energy traded in Spain is negotiated in it, but this participation cannot be tackled independently of other subsequent markets.
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KIC InnoEnergy CC Iberia is holding a one-day thematic workshop in Barcelona, on June 7, 2010, in order to present and discuss education, research and innovation actions under the thematic areas of Renewable Energies and Energy Efficiency.

 

The GNOM energy team has participate  in the four working groups presenting the potencials of the group to cover the topic of the integration of the renewable generation technologies in the electricity markets. The topics of the four working groups was: Wind (coordinated by IREC-Iberdrola); Solar PV (coordinated by UPC); Concentrated Solar Power (coordinated by Ciemat); Ocean energy (coordinated by IST); Energy efficiency (coordinated by Gas Natural-Unión Fenosa).

 

In this link you can find the slides of the GNOM-KIC presentation .

Publication Type	Proceedings Article
Year of Publication	2009
Authors	Heredia, F.-Javier; Rider, Marcos.-J.; Corchero, C.
Conference Name	2009 Power Engineering Society General Meeting
Pagination	1-6
Conference Start Date	26/07/2010
Publisher	IEEE
Conference Location	Calgary
ISSN Number	1944-9925
ISBN Number	978-1-4244-4241-6
Key Words	research; Electricity spot-market; bilateral contracts; combined cycle units; optimal bidding strategies; short-term electricity generation planning; stochastic programming; paper
Abstract	This paper developed a stochastic programming model that integrated the most recent regulation rules of the Spanish peninsular system for bilateral contracts in the day-ahead optimal bid problem. Our model allows a price-taker generation company to decide the unit commitment of the thermal and combined cycle programming units, the economic dispatch of the BC between all the programming units and the optimal sale bid by observing the Spanish peninsular regulation. The model was solved using real data of a typical generation company and a set of scenarios for the Spanish market price. The results are reported and analyzed.
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DOI	10.1109/PES.2009.5275680
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Publication Type	Journal Article
Year of Publication	2010
Authors	Heredia, F.-J; Rider, M.-Julio; Corchero, C.
Journal Title	IEEE Transactions on Power Systems
Volume	25
Issue	3
Pages	1504-1518
Start Page	1504
Journal Date	Aug. 2010
Publisher	IEEE Power & Energy Society
ISSN Number	0885-8950
Key Words	research; paper; bilateral contracts; electricity spot market; optimal bidding strategies; short-term electricity generation planning; stochastic programming; virtual power plant auctions
Abstract	This study has developed a stochastic programming model that integrates the day-ahead optimal bidding problem with the most recent regulation rules of the Iberian Electricity Market (MIBEL) for bilateral contracts (BC), with a special consideration for the new mechanism to balance the competition of the production market, namely virtual power plant (VPP) auctions. The model allows a price-taking generation company (GenCo) to decide on the unit commitment of the thermal units, the economic dispatch of the BCs between the thermal units and the generic programming unit (GPU), and the optimal sale/purchase bids for all units (thermal and generic), by observing the MIBEL regulation. The uncertainty of the spot prices has been represented through scenario sets built from the most recent real data using scenario reduction techniques. The model has been solved using real data from a Spanish generation company and spot prices, and the results have been reported and analyzed.
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DOI	10.1109/TPWRS.2009.2038269
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Publication Type	Proceedings Article
Year of Publication	2009
Authors	M.-Teresa Vespucci; Cristina Corchero; Mario Innorta; F.-Javier Heredia
Conference Name	11th International Conference on the Modern Information Technology in the Innovation Processes of the Industrial Enterprises (MITIP 2009)
Series Title	Proceedings of the 11th International Conference on the Modern Information Technology in the Innovation Processes of the Industrial Enterprises (MITIP 2009)
Conference Start Date	15-16/10/2009
Conference Location	Bergamo, Italy
ISBN Number	ISBN 978-88-89555-09-05
Key Words	research; hydro-thermal; futures; day-ahead; GAMS, CPLEX; paper
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