Abstract
Power producers with flexible production systems such as hydropower may sell their output in the day–ahead and balancing power markets. We present how the coordination of trades across multiple markets may be described as a stochastic program. Focus is on how the information structure inherent in the multi–market setting is represented through the scenario tree and mathematical modelling. In the model, each market is represented by a price or premium and an upper limit on the volume that can be traded at the given price. We illustrate our modelling by comparing coordinated versus sequential bidding strategies.
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Aasgård, E.K. (2019). Coordinated Hydropower Bidding in the Day-Ahead and Balancing Market. In: Helseth, A. (eds) Proceedings of the 6th International Workshop on Hydro Scheduling in Competitive Electricity Markets. HSCM 2018. Springer, Cham. https://doi.org/10.1007/978-3-030-03311-8_3
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DOI: https://doi.org/10.1007/978-3-030-03311-8_3
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