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A Mixed Integer Linear Programming Model to Regulate the Electricity Sector

Michael Polemis ()

MPRA Paper from University Library of Munich, Germany

Abstract: This paper introduces the concept of market design and make the distinction between the three different levels of market design such as industry structure, wholesale and marketplace design. We present a mixed-integer linear programming (MILP) model for the optimal long-term electricity planning of the Greek wholesale generation system. In order to capture more accurately the technical characteristics of the problem, we have divided the Greek territory into a number of individual interacted networks (geographical zones). In the next stage we solve the system of equations and provide simulation results for the daily/hourly energy prices based on the different scenarios adopted. The empirical findings reveal an inverted-M shaped curve for electricity demand in Greece, while the SMP curve is also non-linear. Lastly, given the simulations results, we provide the necessary policy implications for government officials, regulators and the rest of the marketers.

Keywords: Electricity market; Linear programming; Constraints; Day-ahead scheduling; Mathematical programming. (search for similar items in EconPapers)
JEL-codes: C60 L94 Q40 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cmp and nep-ene
Date: 2018-01-30
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Journal Article: A mixed integer linear programming model to regulate the electricity sector (2018) Downloads
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