Summary:
This paper analyzes the coordination between medium-term generation planning and short-term operation in electricity markets. This coordination is particularly important from a practical point of view in order to guarantee that certain aspects of the operation that arise in the medium-term level are explicitly taken into account: limited-energy resources and obligatory- use resources. Three different approaches are proposed in order to guarantee that short-term decisions made by a generation company are consistent with its operation objectives formulated from a medium-term perspective. These approaches make use of technical and economic signals to coordinate both time scopes: primal information, dual information, and resource-valuation functions. This paper presents the main advantages and drawbacks of the three approaches and applies them to a case study that uses a conjectural-variation-based representation of the market.
Keywords: Electricity markets, medium-term planning, medium- and short-term coordination, short-term operation
JCR Impact Factor and WoS quartile: 0,922 (2006); 6,500 - Q1 (2023)
DOI reference:
https://doi.org/10.1109/TPWRS.2005.857851
Published on paper: February 2006.
Published on-line: January 2006.
Citation:
J. Reneses, E. Centeno, J. Barquín, Coordination between medium-term generation planning and short-term operation in electricity markets. IEEE Transactions on Power Systems. Vol. 21, nº. 1, pp. 43 - 52, February 2006. [Online: January 2006]
