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A discrete model for optimal operation of fossil-fuel generators of electricity

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  • Kalczynski, Pawel J.

Abstract

This paper presents a new discrete approach to the price-based dynamic economic dispatch (PBDED) problem of fossil-fuel generators of electricity. The objective is to find a sequence of generator temperatures that maximizes profit over a fixed-length time horizon. The generic optimization model presented in this paper can be applied to automatic operation of fossil-fuel generators or to prepare market bids, and it works with various price forecasts. The model’s practical applications are demonstrated by the results of simulation experiments involving 2009 NYISO electricity market data, branch-and-bound, and tabu-search optimization techniques.

Suggested Citation

  • Kalczynski, Pawel J., 2012. "A discrete model for optimal operation of fossil-fuel generators of electricity," European Journal of Operational Research, Elsevier, vol. 216(3), pages 679-686.
    • Handle: RePEc:eee:ejores:v:216:y:2012:i:3:p:679-686
    DOI: 10.1016/j.ejor.2011.08.003
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    References listed on IDEAS

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    1. De Jong Cyriel, 2006. "The Nature of Power Spikes: A Regime-Switch Approach," Studies in Nonlinear Dynamics & Econometrics, De Gruyter, vol. 10(3), pages 1-28, September.
    2. Helyette Geman & A. Roncoroni, 2006. "Understanding the Fine Structure of Electricity Prices," Post-Print halshs-00144198, HAL.
    3. repec:dau:papers:123456789/1433 is not listed on IDEAS
    4. Matt Thompson & Matt Davison & Henning Rasmussen, 2004. "Valuation and Optimal Operation of Electric Power Plants in Competitive Markets," Operations Research, INFORMS, vol. 52(4), pages 546-562, August.
    5. Hélyette Geman & Andrea Roncoroni, 2006. "Understanding the Fine Structure of Electricity Prices," The Journal of Business, University of Chicago Press, vol. 79(3), pages 1225-1262, May.
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    Cited by:

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