Extensions for Benders cuts and new valid inequalities for solving the European day-ahead electricity market clearing problem efficiently

DOI10.1016/j.ejor.2021.10.007zbMath1495.91076OpenAlexW3207605546MaRDI QIDQ2116884

Banu Lokman, Gökhan Ceyhan, Murat M. Köksalan

Publication date: 18 March 2022

Published in: European Journal of Operational Research (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.ejor.2021.10.007

zbMATH Keywords

Benders decompositionmixed-integer linear programmingOR in energyday-ahead electricity market clearing problem

Mathematics Subject Classification ID

Mixed integer programming (90C11) Economic models of real-world systems (e.g., electricity markets, etc.) (91B74)

Related Items (1)

Benders-type branch-and-cut algorithms for capacitated facility location with single-sourcing

Uses Software

• CPLEX
• Gurobi
• revisiting_mp_conditions

Cites Work

• On the determination of European day ahead electricity prices: the Turkish case
• Efficient market-clearing prices in markets with nonconvexities
• Partitioning procedures for solving mixed-variables programming problems
• Revisiting minimum profit conditions in uniform price day-ahead electricity auctions
• A MIP framework for non-convex uniform price day-ahead electricity auctions
• Computationally efficient MIP formulation and algorithms for European day-ahead electricity market auctions
• Critical Review of Pricing Schemes in Markets with Non-Convex Costs
• Strict linear prices in non-convex European day-ahead electricity markets

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