A Mixed Integer Linear Programming Model to Regulate the Electricity Sector
Michael Polemis ()
MPRA Paper from University Library of Munich, Germany
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
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
https://mpra.ub.uni-muenchen.de/86282/1/MPRA_paper_86282.pdf original version (application/pdf)
Journal Article: A mixed integer linear programming model to regulate the electricity sector (2018)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:86282
Access Statistics for this paper
More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().