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Department of Electric
Power Engineering
Spring 2017
Analysis of Different
Bidding Methods in the
Spot Market
Supervisor:
Magnus Korpås, NTNU
Co-supervisor:
Tellef Larsen, Statkraft
In cooperation with:
Statkraft
Anders Schjølberg
MASTER THESIS
Background
The nordic power producers deliver plans of how
much power they want to produce the next day,
and at which price, to Nord Pool every day. These
plans are sorted in bid matrices, with the bids as
a function of the prices and the hours. This is
done 12 to 36 hours before the operation hour.
They therefore have to consider the uncertainty
in price and inflow.
The simulations in this project are performed in
the optimization tool SHOP, developed by Sintef.
SHOP gives the opportunity to model river
systems of all sizes and complexities. It has a
time resolution of one hour, and flexible time
horizon. The goal is to maximize the revenues
or minimize costs related to fulfilment of load
obliga
tions. Parameters and restrictions of your plant
operation can be the input, and SHOP computes
detailed operation plans of both the plants and
the reservoirs.
The goal of this project has been to investigate
which bidding method that is most profitable.
Profitability in this context could include
robustness, complexity, simulation time and
benefit. In the specialization project the area of
analysis was limited to simulation of benefit.
In the master thesis the analysis of benefit will
continue. We will also look at the possibility
of investigating the impact of stochastic
optimization.
Foto:Statkraft