Optimal response of a thermal unit to an electricity spot market
Abstract
This paper addresses the optimal response of a thermal unit to an electricity spot market. The objective is to maximize the unit profit from selling both energy and spinning reserve in the spot market. The paper proposes a 0/1 mixed-integer linear programming approach that allows a rigorous modeling of (i) nonconvex and nondifferentiable operating costs, (ii) exponential start-up costs, (iii) available spinning reserve taking into account ramp rate restrictions, and (iv) minimum up and down time constraints. This approach overcomes the modeling limitations of dynamic programming approaches and is computationally efficient. Results from realistic case studies are reported.
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The mathematical formulation of piecewise functions using mixed-integer linear expressions has been typically used in different power system problems.
“The mathematical formulation of piecewise functions using mixed-integer linear expressions has been typically used in different power system problems, [38,39].”
From Integration of Electric Vehicles in Low-Voltage Distribution Networks Considering Voltage Management (2020) · cites this paper as [38]
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Integration of Electric Vehicles in Low-Voltage Distribution Networks Considering Voltage Management
Carrión, M., Zárate-Miñano, R., & Domínguez, R. (2020) · Energies · doi:10.3390/en13164125 · Cited by 18 · see citing works
“The mathematical formulation of piecewise functions using mixed-integer linear expressions has been typically used in different power system problems, [38,39].”
Method
- Authors
- Arroyo, J. M., & Conejo, A. J.
- Affiliations
- University of Castilla-La Mancha (ES)
- Venue
- IEEE Transactions on Power Systems
- Published
- 2000
- Volume
- 15
- Issue
- 3
- Pages
- 1098-1104
- ISSN
- 0885-8950 (ISSN-L)
- OpenAlex
- W2096703248
- Cited by
- 536
- References
- 0
- Citations by year
- 2026: 8 · 2025: 16 · 2024: 12 · 2023: 14 · 2022: 26 · 2021: 23 · 2020: 16 · 2019: 13 · 2018: 37 · 2017: 31 · 2016: 28 · 2015: 30 · 2014: 37 · 2013: 33 · 2012: 30
- FWCI
- 9.94
- Type
- journal article
- Language
- en
- Open access
- closed
- Locations
- IEEE Transactions on Power Systems (publishedVersion)
- Funders
- Kungliga Tekniska Högskolan
- Ministerio de Educación y Cultura
- Topics
- Physical Sciences › Engineering › Electrical and Electronic Engineering › Electric Power System Optimization
- Physical Sciences › Engineering › Electrical and Electronic Engineering › Integrated Energy Systems Optimization
- Physical Sciences › Engineering › Safety, Risk, Reliability and Quality › Power System Reliability and Maintenance
- Keywords
- thermal power units, electricity spot market, spinning reserve, start-up costs, 0-1 mixed integer linear programming, unit commitment
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