Optimization of electricity trading using linear programming

Authors Minja R. Marinovic, Dragana D. Makajic-Nikolic, Milan J. Stanojevic, Lena S. Dordevic



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Minja R. Marinovic
Dragana D. Makajic-Nikolic
Milan J. Stanojevic
Lena S. Dordevic

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Minja R. Marinovic, Dragana D. Makajic-Nikolic, Milan J. Stanojevic, and Lena S. Dordevic. Optimization of electricity trading using linear programming. In 3rd Student Conference on Operational Research. Open Access Series in Informatics (OASIcs), Volume 22, pp. 94-102, Schloss Dagstuhl – Leibniz-Zentrum für Informatik (2012)
https://doi.org/10.4230/OASIcs.SCOR.2012.94

Abstract

In the last two decades, the liberalization of the electricity markets have been established in order to increase efficiency, harmonize and reduce electricity prices, make a better use of resources, give customers the right to choose their supplier and provide customers with a better service. This change made the electricity market competitive and introduced several new subjects. In this paper, we study one of these subjects: Electricity Trading Company (ETC) and its daily trading process. We present a linear mathematical model of total daily profit maximization subject to flow constraints. It is assumed that the demand and supply are known and some of them are arranged. Possible transmission capacities are known but also additional capacities can be purchased. All trading, transmission prices and amounts are subject of auctions. First, we present energy trading problem as directed multiple-source and multiple-sink network and then model it using linear programming. Also, we provide one realistic example which is slightly changed in order to save confidentiality of the given data.
Keywords
  • energy daily trading
  • day-ahead planning
  • LP model
  • optimization

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