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Power market modelling using linear programming

Wednesday 15 October 2014
Arndt von Schemde
4pm - 5.30pm, 32L.G.20


Power markets can be simulated using a linear programming approach. The intersection between the demand and the supply curves is  found by solving a cost minimization problem under a set of constraints. In this talk, we give an example of a power market model (the "TheMA" model) and its applications. The model has an hourly time resolution, a detailed representation of thermal, hydro, and intermitted generation technologies (such as wind and PV), as well as a detailed description of cross-border trade. In this talk, we shall also discuss practical considerations, such as computation time issues, and explain what general principles should guide modelling and model development.

Arndt vonSchemde