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Bid-Based Dispatch of Hydrothermal Systems in Competitive Markets

Author

Listed:
  • Priscila Lino
  • Luiz Barroso
  • Mario Pereira
  • Rafael Kelman
  • Márcia Fampa

Abstract

The objective of this work is to investigate possible hydro-scheduling inefficiencies under a bidding scheme. It will be shown that the market-based dispatch of hydro-plants, under a perfect competitive market, converges to its least-cost dispatch. Besides, it will be shown that the usual spot payment scheme does not provide the correct incentive for upstream reservoirs to regulate downstream production, thus causing an operating distortion. The implementation of a Wholesale Water Market is proposed for trading stored water and so to correct such distortion. Case studies will be presented, with data taken from the Brazilian System. Copyright Kluwer Academic Publishers 2003

Suggested Citation

  • Priscila Lino & Luiz Barroso & Mario Pereira & Rafael Kelman & Márcia Fampa, 2003. "Bid-Based Dispatch of Hydrothermal Systems in Competitive Markets," Annals of Operations Research, Springer, vol. 120(1), pages 81-97, April.
    • Handle: RePEc:spr:annopr:v:120:y:2003:i:1:p:81-97:10.1023/a:1023322328294
    DOI: 10.1023/A:1023322328294
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    Citations

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    Cited by:

    1. Machado, Bruno Goulart F. & Bhagwat, Pradyumna C., 2020. "The impact of the generation mix on the current regulatory framework for hydropower remuneration in Brazil," Energy Policy, Elsevier, vol. 137(C).
    2. Marcelle Caroline Thimotheo de Brito & Amaro O. Pereira Junior & Mario Veiga Ferraz Pereira & Julio César Cahuano Simba & Sergio Granville, 2022. "Competitive Behavior of Hydroelectric Power Plants under Uncertainty in Spot Market," Energies, MDPI, vol. 15(19), pages 1-22, October.
    3. Gacitua, L. & Gallegos, P. & Henriquez-Auba, R. & Lorca, Á. & Negrete-Pincetic, M. & Olivares, D. & Valenzuela, A. & Wenzel, G., 2018. "A comprehensive review on expansion planning: Models and tools for energy policy analysis," Renewable and Sustainable Energy Reviews, Elsevier, vol. 98(C), pages 346-360.
    4. Carpio, Lucio Guido Tapia & Pereira, Amaro Jr., 2007. "Economical efficiency of coordinating the generation by subsystems with the capacity of transmission in the Brazilian market of electricity," Energy Economics, Elsevier, vol. 29(3), pages 454-466, May.

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