Wholesale electricity markets

Joseph E. Duggan and Ramteen Sioshansi

Chapter 126 in Elgar Encyclopedia of Energy Economics, 2025, pp 479-481 from Edward Elgar Publishing

Abstract: The unit-commitment (UC) problem is complicated by the fact that there is typically a wide variation in daily load patterns between off- and on-peak hours, a heterogeneous mix of generating units (thermal, hydroelectric, renewable, etc.), and potentially vast geographic regions over which electricity is produced and consumed. There are also a host of economic constraints relevant to the solution of the UC problem, such as ensuring that supply and demand are balanced, guaranteeing that demand is met at minimum cost, or maximizing profit from the production of electricity. Deriving optimal solutions to the UC problem is of paramount importance in the efficient functioning of wholesale electricity markets, while ensuring reliable electricity supply to consumers.

Keywords: Electricity; Wholesale; Unit Commitment (search for similar items in EconPapers)
Date: 2025
ISBN: 9781035310364
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.elgaronline.com/doi/10.4337/9781035310371.000131 (application/pdf)
Our link check indicates that this URL is bad, the error code is: 403 Forbidden

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:elg:eechap:22238_126

Ordering information: This item can be ordered from
http://www.e-elgar.com

Access Statistics for this chapter

More chapters in Chapters from Edward Elgar Publishing
Bibliographic data for series maintained by Jack Sweeney ().