Introduction of Flexible Production Bids and Combined Package-Price Bids in a Framework of Integrated Power-Reserve Market Coupling

Csercsik, Dávid (2020) Introduction of Flexible Production Bids and Combined Package-Price Bids in a Framework of Integrated Power-Reserve Market Coupling. ACTA POLYTECHNICA HUNGARICA, 17 (6). pp. 131-153. ISSN 1785-8860

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Abstract

In this article a multi-zonal integrated energy-reserve market model is proposed.Bidders in this model may submit their demand and supply bids on the one hand in the formof conventional hourly step bids and block bids, which are cleared and paid according tomarket clearing prices (MCPs). On the other hand, suppliers may submit so called flexibleproduction bids, while both suppliers and consumers may submit fill-or-kill type package-priced combined bids – these bids are accepted if their acceptance implies an improvementin the resulting total social welfare, which the market clearing algorithm aims to optimize.The model includes network constraints for the nominal case (if no reserves are activated)and also for perturbed cases when the allocated reserves are activated.

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