Recovery mechanisms in a joint energy/reserve day-ahead electricity market with non-convexities

Greek wholesale electricity market: forthcoming market changes and bid/cost recovery

“…However, we should note that a regulated cap may be needed to deter the units from submitting particularly high bids (see [7] for a preliminary discussion). Some interesting directions for further research would be to consider the privatization of hydro plants, and more complicated bidding strategies.…”

An overview of Greece's wholesale electricity market with emphasis on ancillary services

“…This type of mechanism led to large "out of the market" payments to the generation units and overcharged the Load Representatives with extremely inflated uplift accounts. Some preliminary simulationbased results on these particular issues are reported in [30].…”

“…Sophisticated software tools have been developed for the solution of the DAS problem using either GAMS [39] or AMPL [40] combined with the CPLEX solver. The practical application of these tools has provided useful insight into several issues, such as the impact of the ancillary services on the market outcome [18][19][20][21][22][23], bidding behavior, and hydrothermal generation scheduling [24][25][26][27][28][29][30][31]. In the operational domain, HTSO and RAE have developed software tools for the implementation of the market rules (market operation) [32], and for the simulation of the market behavior [33].…”

“…In the academic domain, during the last years, a number of publications have addressed various features of the Greek electricity market [18][19][20][21][22][23][24][25][26][27][28][29][30][31]. Sophisticated software tools have been developed for the solution of the DAS problem using either GAMS [39] or AMPL [40] combined with the CPLEX solver.…”

“…Considering the wide profusion regarding ancillary services, our goal is to contribute to the growing literature on individual case studies and comparisons of different ancillary services markets worldwide [5][6][7][8][9][10][11][12][13][14][15][16]. In addition, we survey the literature on the Greek electricity market [17][18][19][20][21][22][23][24][25][26][27][28][29][30][31][32][33], with an emphasis on the procured ancillary services.…”