Thermal plant bids and market clearing in an electricity pool.Minimization of costs vs. minimization of consumer payments

摘要

The Spanish wholesale electricity market started on January 1stn1998. Though it is based on simple price/quantity bids, it incorporatesnsome provisions to take thermal plant running requirements into account.nThis paper presents these rules and its mathematical treatment, focusingnon a possible implementation of the “minimum incomencondition”, which allows thermal generators to declare minimumnstable loads. It also shows another key point in the debate: whether thenalgorithm should minimize costs or consumer payments