Offering Strategy Via Robust Optimization
Abstract
This paper provides a technique to build hourly offering curves for a price-taker producer participating in a pool. The technique relies on solving a sequence of robust mixed-integer linear programming problems. Instead of using price predictions as input data, price confidence intervals are considered. These intervals are successively divided into a sequence of nested subintervals, which allow formulating a collection of meaningful and easy-to-solve robust mixed-integer linear programming problems. The solutions of these problems provide adequate information to build hourly offering curves.
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Robust optimization is a two-stage optimization problem where the inner level minimizes the objective function and the outer level maximizes the inner-optimization within an uncertainty set.
“Robust optimization is a two-stage optimization problem where the inner level minimizes the objective function and the outer level maximizes the inner-optimization within an uncertainty set [22]-[24], [29].”
From Chance constrained day-ahead robust flexibility needs assessment for low voltage distribution network (2022) · cites this paper as [23]
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Towards the fast and robust optimal design of wireless body area networks
D’Andreagiovanni, F., & Nardin, A. (2015) · Applied Soft Computing · doi:10.1016/j.asoc.2015.04.037 · Cited by 73 · see citing works
Hashmi, M. U., Koirala, A., Ergun, H., & Van Hertem, D. (2022) · arXiv · doi:10.48550/arxiv.2207.10234 · Cited by 1 · see citing works
- Authors
- Baringo, L., & Conejo, A. J.
- Affiliations
- University of Castilla-La Mancha (ES)
- Venue
- IEEE Transactions on Power Systems
- Published
- 2011-08
- Volume
- 26
- Issue
- 3
- Pages
- 1418-1425
- ISSN
- 0885-8950 (ISSN-L)
- 1558-0679
- OpenAlex
- W2138182242
- Cited by
- 165
- References
- 0
- Citations by year
- 2026: 3 · 2025: 1 · 2024: 4 · 2023: 7 · 2022: 9 · 2021: 9 · 2020: 10 · 2019: 15 · 2018: 17 · 2017: 18 · 2016: 14 · 2015: 19 · 2014: 20 · 2013: 17 · 2012: 2
- FWCI
- 8.74
- Type
- journal article
- Language
- en
- Open access
- closed
- Locations
- IEEE Transactions on Power Systems (publishedVersion)
- Topics
- Physical Sciences › Engineering › Electrical and Electronic Engineering › Electric Power System Optimization
- Physical Sciences › Engineering › Electrical and Electronic Engineering › Integrated Energy Systems Optimization
- Social Sciences › Decision Sciences › Management Science and Operations Research › Risk and Portfolio Optimization
- Keywords
- robust optimization, electricity pool, mixed-integer linear programming
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Confidence bands are shown only for fields calibrated on our annotated test set. None is calibrated yet, so no band is shown.
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