DT@Bid-And-Offer provides decision support for placing bids and offers in the electricity day ahead and intra day spot market, taking into consideration all underlying uncertainties.
DT@Bid-And-Offer calculates optimal offer strategies with a scenario-based concept, in dependence of generation costs and flexibility of generation. Based on a first solution of the short term unit commitment, a number of subsequent calculations with different levels of the market price of the next day is performed. Thereby, the sensitivity of the unit commitment schedule with respect to different market prices is determined, and the results are different generation schedules at different prices which are finally used as bids and offers into the spot market.
The efficient use of structural properties of the linear program reduces the time that is needed for the subsequent solution of the optimization problems considerably. Once the short term unit commitment model is solved, high numbers of subsequent sensitivity calculations with different market prices are possible in a short time. The cutting edge ILOG CPLEX solver provides outstanding support for sensitivity analysis with respect to bid and offer optimization.
As illustrated below, different bid-offer stair curves are optimized with respect to how flexible power plants can operate in particular hours.
DT@Bid-And-Offer assures that available generation surplus gets dispatched when spot markets clear at high prices and on the other hand expensive generation is shut down and replaced by spot market purchases when prices clear low.
