Start Me Up: Modeling of Power Plant Start-Up Conditions and their Impact on Prices

Jan Abrell, Friedrich Kunz and Hannes Weigt

MPRA Paper from University Library of Munich, Germany

Abstract: In this paper we compare different approaches to account for start-up costs when modeling electricity markets. We restrict the model formulation to either linear or mixed integer problems in order to guarantee a robust solution. The results indicate that the choice of the model has a significant impact on the resulting market prices and company profit. The models either calculate higher peak prices or prices below marginal costs in off-peak periods but not both. Furthermore, the models perform differently when we apply a large sample, the number of equations having an important impact. We conclude that different model formulations respond particularly to specific modeling questions.

Keywords: electricity; unit commitment; start-up costs; linear programming; mixed integer programming (search for similar items in EconPapers)
JEL-codes: D61 L51 L94 (search for similar items in EconPapers)
Date: 2008-07
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:65661

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