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dc.creatorAndrianesis, P. E.en
dc.creatorLiberopoulos, G.en
dc.creatorPapalexopoulos, A. D.en
dc.date.accessioned2015-11-23T10:22:22Z
dc.date.available2015-11-23T10:22:22Z
dc.date.issued2012
dc.identifier10.1049/cp.2012.2046
dc.identifier.isbn9781849197151
dc.identifier.urihttp://hdl.handle.net/11615/25610
dc.description.abstractThe Greek wholesale electricity market is based on a day-ahead unit commitment market clearing and generation dispatch formulation with co-optimization of energy and reserves without the participation of transmission. An important feature of the market design is the cost recovery mechanism, which explicitly compensates generation units for their commitment costs and guarantees a minimum profit equal to 10% of their variable costs. In this paper, we evaluate the current mechanism in comparison to an alternative bid/cost recovery mechanism by simulating the wholesale electricity market for a period of one year. As part of the study we take into account the forthcoming changes for the liberalization of the Greek market that include the physical and virtual sale of a portion of PPC lignite plants, and we examine a likely "business as usual" scenario concerning the resulting bidding strategies. Lastly, we perform a sensitivity analysis with respect to the hydro production and the carbon price.en
dc.source.urihttp://www.scopus.com/inward/record.url?eid=2-s2.0-84879667337&partnerID=40&md5=b461dbe4aec8463bf1f77ef05b65dfdc
dc.subjectBid/cost recoveryen
dc.subjectSensitivity analysisen
dc.subjectUnit commitmenten
dc.subjectWholesale electricity marketen
dc.subjectBusiness-as-usualen
dc.subjectCurrent mechanismsen
dc.subjectGeneration dispatchen
dc.subjectGeneration unitsen
dc.subjectImportant featuresen
dc.subjectRecovery mechanismsen
dc.subjectWholesale electricity marketsen
dc.subjectDepreciationen
dc.subjectElectric industryen
dc.subjectEnergy conversionen
dc.subjectCommerceen
dc.titleGreek wholesale electricity market: Forthcoming market changes and bid/cost recoveryen
dc.typeconferenceItemen


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