Extensions for Benders cuts and new valid inequalities for solving the European day-ahead electricity market clearing problem efficiently

DOI10.1016/J.EJOR.2021.10.007MaRDI QIDQ2116884zbMATH OpenOpenAlexFDO

Authors Gökhan Ceyhan, Banu Lokman, Murat Köksalan

Publication date 18 March 2022

Published in European Journal of Operational Research (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/j.ejor.2021.10.007

zbMATH Keywords

OR in energyBenders decompositionmixed-integer linear programmingday-ahead electricity market clearing problem

Mathematics Subject Classification ID

Economic models of real-world systems (e.g., electricity markets, etc.) (91B74) Mixed integer programming (90C11)

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Cites work

• A MIP framework for non-convex uniform price day-ahead electricity auctions
• Computationally efficient MIP formulation and algorithms for European day-ahead electricity market auctions
• Critical review of pricing schemes in markets with non-convex costs
• Efficient market-clearing prices in markets with nonconvexities
• On the determination of European day ahead electricity prices: the Turkish case
• Partitioning procedures for solving mixed-variables programming problems
• Revisiting minimum profit conditions in uniform price day-ahead electricity auctions
• Strict linear prices in non-convex European day-ahead electricity markets

Cited in

(7)

• A partitioning method that generates interpretable prices for integer programming problems
• Benders-type branch-and-cut algorithms for capacitated facility location with single-sourcing
• Optimal price zones of electricity markets: a mixed-integer multilevel model and global solution approaches
• An accelerated benders decomposition algorithm for the solution of the multi-trip time-dependent vehicle routing problem with time windows
• On the determination of European day ahead electricity prices: the Turkish case
• The impact of partial production capacity sharing via production as a service
• Computationally efficient MIP formulation and algorithms for European day-ahead electricity market auctions

Describes a project that uses

Uses Software

• CPLEX
• Gurobi
• revisiting_mp_conditions

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