A two-stage stochastic programming model for electric energy producers

Authors:
Patrizia Beraldi;Domenico Conforti;Antonio Violi
Affiliations:
Dipartimento di Elettronica, Informatica e Sistemistica, Universití degli Studi della Calabria, 87036 Rende (CS), Italy;Dipartimento di Elettronica, Informatica e Sistemistica, Universití degli Studi della Calabria, 87036 Rende (CS), Italy;Dipartimento di Elettronica, Informatica e Sistemistica, Universití degli Studi della Calabria, 87036 Rende (CS), Italy
Venue:
Computers and Operations Research
Year:
2008

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Abstract

The bilateral contract selection and bids definition constitute a strategic issue for electric energy producers that operate in competitive markets, as the liberalized electricity ones. In this paper we propose a two-stage stochastic integer programming model for the integrated optimization of power production and trading which include a specific measure accounting for risk management. We solve the model by means of a novel enumerative solution approach that exploits the particular problem structure. Finally, we report some preliminary computational experiments.