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Impact of Reserve and Fixed Costs on the Day-Ahead Scheduling Problem in Greece’s Electricity Market

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Author Info

  • Andrianesis, Panagiotis
  • Liberopoulos, George
  • Sakellaris, Kostis
  • Vlachos, Andreas

Abstract

We sketch the main aspects of Greece’s electricity system from a market-based point of view. First, we provide data concerning the mix of generating units, the system load and the frequency-related ancillary services. Then, we formulate a simplified model of Greece’s Day-Ahead Scheduling (DAS) problem that constitutes the basis for our analysis. We examine various cases concerning the format of the objective function as well as the pricing and compensation schemes. An illustrative example is used to indicate the impact of reserve and fixed (start-up, shut-down, and minimum-load) costs on the resulting dispatching of units and on clearing prices, under the different cases. Our analysis aims at unveiling the impact of cost components other than energy offers on the DAS problem, and provide the grounds for future research on the design of the electricity market.

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File URL: http://mpra.ub.uni-muenchen.de/21426/
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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 21426.

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Date of creation: 03 Oct 2008
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Handle: RePEc:pra:mprapa:21426

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Keywords: Electricity Market; Day-Ahead Scheduling;

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  1. O'Neill, Richard P. & Sotkiewicz, Paul M. & Hobbs, Benjamin F. & Rothkopf, Michael H. & Stewart, William R., 2005. "Efficient market-clearing prices in markets with nonconvexities," European Journal of Operational Research, Elsevier, vol. 164(1), pages 269-285, July.
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