Design and implementation of a decision support system for competitive electricity markets

Authors:
Julia Sancho;Joaquín Sánchez-Soriano;Juan Antonio Chazarra;Juan Aparicio
Affiliations:
Operations Research Center, University Miguel Hernández of Elche, Av. universidad s/n, Elche 03202, Spain;Operations Research Center, University Miguel Hernández of Elche, Av. universidad s/n, Elche 03202, Spain;Operations Research Center, University Miguel Hernández of Elche, Av. universidad s/n, Elche 03202, Spain;Operations Research Center, University Miguel Hernández of Elche, Av. universidad s/n, Elche 03202, Spain
Venue:
Decision Support Systems
Year:
2008

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Abstract

In this paper we describe software which could be used as a decision support tool for decision makers in competitive electricity markets. The tool is based on the behavior of the competitors in the market, thus many different parameters around them are considered and, additionally, many different scenarios can be used. The possible results are obtained by simulation. Two modes are implemented; one to simulate the functioning of a competitive electricity market and the other, called manual, to evaluate the success of particular strategies by a user. Finally, some computational experience is reported to validate the simulation model.