The following information was submitted:
Transactions: INTERNATIONAL JOURNAL of ENERGY
Transactions ID Number: 20-687
Full Name: Davide Poli
Position: Assistant Professor
Age: ON
Sex: Male
Address: Largo Lazzarino 1, 56122 PISA
Country: ITALY
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E-mail address: davide.poli@dsea.unipi.it
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Title of the Paper: Clearing procedures for day-ahead Italian electricity market: are complex bids really required?
Authors as they appear in the Paper: Davide Poli, Mirko Marracci
Email addresses of all the authors: davide.poli@dsea.unipi.it, mirko.marracci@dsea.unipi.it
Number of paper pages: 8
Abstract: Many technical debates discussed in the last years the market structure that can be considered as optimal for electricity in a deregulated environment. Simplicity and market transparency do not always comply with the intrinsic complexity of the electrical system, due to technical constraints and security requirements. The mechanism for bid selection in the day-ahead market is one of the most discussed topics, because it strongly influences both the economical revenues of operators and the physical feasibility of the dispatching schedules set by the market. Usual production bids, only detailing hourly prices and quantities ("simple bids"), do not transfer to the clearing mechanism important technical-economical integral constraints, like the minimum daily revenue required by the operator or the power ramp limitation of generating units; in this case, adjustment sessions follow the primary energy market, to correct undesired or unfeasible outcomes. In some markets,!
such additional constraints are already expressed in the so-called "complex bids", thus avoiding or minimizing the need for adjustment sessions. Nevertheless, the clearing mechanism of the day-ahead market results strongly complicated and the system transparency decreases; the effectiveness of this solution must be then carefully assessed. In this paper, we present an analysis of the possible quantitative impact of complex bids in the Italian electricity day-ahead market, in order to evaluate possible benefits and drawbacks.
Keywords: Clearing procedure, Energy market, Market rules.
EXTENSION of the file: .doc
Special (Invited) Session: Analysis of the possible impact of complex bids on the italian electricity spot market
Organizer of the Session: 301-248
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