Non-convex power plant modelling in energy optimisation [An article from: European Journal of Operational Research] | ![Non-convex power plant modelling in energy optimisation [An article from: European Journal of Operational Research]](http://ecx.images-amazon.com/images/I/51G4P0G7AGL._SL160_.jpg)
 enlarge | Authors: S. Makkonen, R. Lahdelma
Publisher: Elsevier
Category: Book
Buy New: $7.95
Format: Html
Media: Digital
Pages: 13
Publication Date: June 16, 2006
Availability: Available for download now
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Product Description
This digital document is a journal article from European Journal of Operational Research, published by Elsevier in 2006. The article is delivered in HTML format and is available in your Amazon.com Media Library immediately after purchase. You can view it with any web browser.
Description:
The European electricity market has been deregulated recently. This means that energy companies must optimise power generation considering the rapidly fluctuating price on the spot market. Optimisation has also become more difficult. New production technologies, such as gas turbines (GT), combined heat and power generation (CHP), and combined steam and gas cycles (CSG) require non-convex models. Risk analysis through stochastic simulation requires solving a large number of models rapidly. These factors have created a need for more versatile and efficient decision-support tools for energy companies. We formulate the decision-problem of a power company as a large mixed integer programming (MIP) model. To make the model manageable we compose the model hierarchically from modular components. To speed up the optimisation procedure, we decompose the problem into hourly sub-problems, and develop a customised Branch-and-Bound algorithm for solving the sub-problems efficiently. We demonstrate the use of the model with a real-life application.
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