Imperial College London
Portrait Picture

DrDimitriosPapadaskalopoulos

Faculty of Engineering, Department of Electrical and Electronic Engineering

Visiting Researcher
 
 
 
//

Contact

 

d.papadaskalopoulos08

 
 
//

Location

 

1106Electrical EngineeringSouth Kensington Campus

//

Summary

 

Publications

Citation

BibTex format

@article{Ye:2020:10.1109/tpwrs.2019.2925317,
author = {Ye, Y and Papadaskalopoulos, D and Kazempour, J and Strbac, G},
doi = {10.1109/tpwrs.2019.2925317},
journal = {IEEE Transactions on Power Systems},
pages = {163--176},
title = {Incorporating non-convex operating characteristics into bi-level optimization electricity market models},
url = {http://dx.doi.org/10.1109/tpwrs.2019.2925317},
volume = {35},
year = {2020}
}
Download

RIS format (EndNote, RefMan)

TY  - JOUR
AB  - Bi-level optimization constitutes the most popular mathematical methodology for modeling the deregulated electricity market. However, state-of-the-art models neglect the physical non-convex operating characteristics of market participants, due to their inherent inability to capture binary decision variables in their representation of the market clearing process, rendering them problematic in modeling markets with complex bidding and unit commitment (UC) clearing mechanisms. This paper addresses this fundamental limitation by proposing a novel modeling approach enabling incorporation of these non-convexities into bi-level optimization market models, which is based on the relaxation and primal-dual reformulation of the original, non-convex lower level problem and the penalization of the associated duality gap. Case studies demonstrate the ability of the proposed approach to closely approximate the market clearing solution of the actual UC clearing algorithm and devise more profitable bidding decisions for strategic producers than the state-of-the-art bi-level optimization approach, and reveal the potential of strategic behavior in terms of misreporting non-convex operating characteristics.
AU  - Ye,Y
AU  - Papadaskalopoulos,D
AU  - Kazempour,J
AU  - Strbac,G
DO  - 10.1109/tpwrs.2019.2925317
EP  - 176
PY  - 2020///
SN  - 0885-8950
SP  - 163
TI  - Incorporating non-convex operating characteristics into bi-level optimization electricity market models
T2  - IEEE Transactions on Power Systems
UR  - http://dx.doi.org/10.1109/tpwrs.2019.2925317
UR  - http://hdl.handle.net/10044/1/82269
VL  - 35
ER  -
Download