The Optimal Bid of the Thermal Power Plants on a Day-Ahead Market

摘要

In this paper, short-term planning method for assembly of different thermal power plants is presented. The optimization process provides a joint bid of the observed system on day-ahead market, and thus making the operation schedule with the aim of maximizing profits on the market, according to expected hourly electricity prices, taking into account previously contracted bilateral agreement for electricity generation. Optimization model is applied on the case study in order to show general features of the model. Case study assembly consist of coal-fired power plant, combined cycle gas-fired power plant and gas-fired power plant.