Empirical comparison of three models for determining market clearing prices in Turkish day-ahead electricity market
Autor: | Nermin Elif Kurt, H. Bahadir Sahin, Kursad Derinkuyu, Gokhan Ceyhan |
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Přispěvatelé: | TOBB ETU, Faculty of Engineering, Department of Industrial Engineering, TOBB ETÜ, Mühendislik Fakültesi, Endüstri Mühendisliği Bölümü, Derinkuyu, Kürşad |
Jazyk: | angličtina |
Rok vydání: | 2017 |
Předmět: |
Turkish
0211 other engineering and technologies 02 engineering and technology Electronic mail Microeconomics FOS: Economics and business empirical study Operator (computer programming) 0502 economics and business Economics Electricity market Electricity market design 050210 logistics & transportation non-convexities Quantitative Finance - Trading and Market Microstructure 021103 operations research business.industry Market clearing 05 social sciences Maximization paired t-test language.human_language Trading and Market Microstructure (q-fin.TR) Work (electrical) language ComputingMilieux_COMPUTERSANDSOCIETY Electricity mixed integer quadratic programming business |
Popis: | Bidders in day-ahead electricity markets want to sell/buy electricity when their bids generate positive surplus and not to take an action when the reverse holds. However, non-convexities in these markets cause conflicts between the actions that the bidders want to take and the actual market results. In this work, we investigate the non-convex market clearing problem of Turkish market operator and propose three different rule sets. The first rule set allows both rejection of bids with positive surplus and acceptance of bids with negative surplus. The second and the third sets only allow one of these conflicted cases. By using total surplus maximization as the objective, we formulate three models and statistically explore their performance with the real data taken from Turkish market operator. Comment: 7 pages, 3 figures, 14th International Conference on the European Energy Market (EEM), 2017 |
Databáze: | OpenAIRE |
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