An integrated day-ahead market clearing model: Incorporating paradoxically rejected/accepted orders and a case study

Date

2018-10-01

Author

YORUKOGLU, Sinan
Avşar, Zeynep Müge
Kat, Bora

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This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

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In the electricity day-ahead markets (DAMs), market participants place their orders in the form of desired/accepted price levels for the submitted quantities. The market operator evaluates these orders and announces the clearing quantities and market clearing prices (MCPs) within an hour. In this paper, a mathematical model is proposed for the exact solution of clearing electricity DAM with a focus on the current Turkish system. The model is a non-linear programming (NLP) problem that maximizes total social welfare and takes into account all types of orders that are submitted in the Turkish DAM. In order to ensure a feasible solution, the concept of paradoxically accepted/rejected orders is introduced. Two versions of the mathematical model are considered, allowing for one type of paradoxical processing in each version. For the computational experiments, a sample data set of 25 days, representing the conditions in the Turkish DAM, is generated and published on an open library. The model is solved to optimality within the practical time limitation of the market operator in all cases.

Subject Keywords

OR in energy, Electricity day-ahead market, Combinatorial auctions, Social welfare, Non-linear programming

URI

https://hdl.handle.net/11511/32523

Journal

ELECTRIC POWER SYSTEMS RESEARCH

DOI

https://doi.org/10.1016/j.epsr.2018.07.007

Collections

Graduate School of Natural and Applied Sciences, Article

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Citation Formats

S. YORUKOGLU, Z. M. Avşar, and B. Kat, “An integrated day-ahead market clearing model: Incorporating paradoxically rejected/accepted orders and a case study,” ELECTRIC POWER SYSTEMS RESEARCH, pp. 513–522, 2018, Accessed: 00, 2020. [Online]. Available: https://hdl.handle.net/11511/32523.