Solving electric market problems by perspective cuts

Publication TypeConference Paper
Year of Publication2010
AuthorsEugenio Mijangos; F-Javier Heredia; Cristina Corchero
Conference NameInternational Conference on Operations Research
Conference Date01-03/09/2010
Conference LocationZurich, Switzerland
Type of Workcontributed presentation
Key Wordsresearch; perspective cuts; mixed nonlinear optimization; optimization; optimal bid; electricity market
AbstractThe electric market regulation in Spain (MIBEL) establishes the rules 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 units, the economic dispatch of the bilateral contracts between the thermal units and the optimal sale bids for the thermal units observing the MIBEL regulation. The uncertainty of the spot prices is represented through scenario sets. We solve this model as a deterministic MIQP problem by using perspective cuts to improve the performance of Branch and Cut. Numerical results are reported.
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