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A new approach to electricity market clearing with uniform purchase price and curtailable block orders

Iacopo Savelli, Bertrand Cornélusse, Antonio Giannitrapani, Simone Paoletti and Antonio Vicino

Applied Energy, 2018, vol. 226, issue C, 618-630

Abstract: The European market clearing problem is characterized by a set of heterogeneous orders and rules that force the implementation of heuristic and iterative solving methods. In particular, curtailable block orders and the uniform purchase price pose serious difficulties. A block order spans over multiple hours, and can be either fully accepted or fully rejected. The uniform purchase price prescribes that all consumers pay a common price in all the zones, while producers receive zonal prices, which can differ from one zone to another.

Keywords: Bilevel programming; Curtailable block orders; European market clearing; Mixed-integer linear programming; Power system economics; Uniform purchase price (search for similar items in EconPapers)
Date: 2018
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Handle: RePEc:eee:appene:v:226:y:2018:i:c:p:618-630