Please use this identifier to cite or link to this item: https://hdl.handle.net/20.500.11851/1564
Title: Empirical comparison of three models for determining market clearing prices in Turkish day-ahead electricity market
Authors: Ceyhan, Gökhan
Kurt, Nermin Elif
Şahin, H. Bahadır
Derinkuyu, Kürşad
116715
Keywords: Electricity market design
non-convexities
empirical study
mixed integer quadratic programming
paired t-test
Issue Date: 2017
Publisher: IEEE
Source: Ceyhan, G., Kurt, N. E., Sahin, H. B., & Derinkuyu, K. (2017, June). Empirical comparison of three models for determining market clearing prices in Turkish day-ahead electricity market. In 2017 14th International Conference on the European Energy Market (EEM) (pp. 1-7). IEEE.
Abstract: Bidders in day-ahead electricity markets want to sell/buy electricity when their bids generate positive surplus and not to take an action when the reverse holds. However, non-convexities in these markets cause conflicts between the actions that the bidders want to take and the actual market results. In this work, we investigate the non-convex market clearing problem of Turkish market operator and propose three different rule sets. The first rule set allows both rejection of bids with positive surplus and acceptance of bids with negative surplus. The second and the third sets only allow one of these conflicted cases. By using total surplus maximization as the objective, we formulate three models and statistically explore their performance with the real data taken from Turkish market operator.
URI: https://ieeexplore.ieee.org/document/7981855
https://hdl.handle.net/20.500.11851/1564
ISBN: 978-1-5090-5499-2
ISSN: 2165-4077
Appears in Collections:Endüstri Mühendisliği Bölümü / Department of Industrial Engineering
Scopus İndeksli Yayınlar Koleksiyonu / Scopus Indexed Publications Collection
WoS İndeksli Yayınlar Koleksiyonu / WoS Indexed Publications Collection

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