@article { ,
	title = {A stochastic programming model for the optimal electricity market bid problem with bilateral contracts for thermal and combined cycle units},
	journal = {Annals of Operations Research},
	volume = {193},
	year = {2012},
	month = {2012},
	pages = {107-127},
	publisher = {Springer},
	chapter = {107},
	abstract = {This paper develops a stochastic programming model that integrates the most recent regulation rules of the Spanish peninsular system for bilateral contracts in the dayahead 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 bilateral contract 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.

The main contributions of this paper include: (a) a new model for the optimal bid function and matched energy for thermal and CC units, (b) a new and detailed mixed-integer formulation of the operation rules of the CC units and (c) the joint optimization of all the above-mentioned factors together with the BC duties. The model was tested with real data of market prices and programming units of a GenCo operating in the Spanish electricity market.},
	keywords = {research; paper; stochastic programming; day-ahead market; combined cycle; bilateral contracts; modeling; DPI2008-02154},
	URL = {http://dx.doi.org/10.1007/s10479-011-0847-x},
	author = {F.-Javier Heredia and Marcos J. Rider and C. Corchero}
}

