OBIS
Optimal Bidding Strategy (OBIS) system optimizes the bidding strategy of a producer that is simultaneously a retailer and trader in the wholesale electricity market. The target is the maximization of the total profits of the producer from his participation in the spot electricity markets and from providing balancing services in the balancing market. Optimal Bidding Strategy (“OBIS”) optimization models have been developed to provide optimal decisions at every stage of the producer’s decision process (before DAM, before ISP, before RTBEM) for the bidding of his production units.
OBIS consists of two different interfaces:
a)The first part is the ATLASi environment for the data management The user can edit the data and store them in the Database.
b)The second part is the web interface, which performs sequential executions of the DAM, ISP and RTBEM solvers of the wholesale electricity market, prepares the input data to resolve the “OBIS”, executes the “OBIS” and displays the results of the “OBIS” “to the user.
The two parts constitute an integrated system. The program is fully in line with the provisions of the European Target model for electricity.
OBIS has a web-based graphical user interface (GUI), with easy-to-use functionalities and full reporting capabilities.
- OBIS is based on residual demand curves. ATLASx solvers are utilized to acquire the residual demand curves.
- The producer is acting as a price-maker in the wholesale electricity market in all products.
- Two-stage stochastic programming is used, based on the stochasticity of several input data, expressed in the stochasticity / uncertainty of the residual demand curves
- The formulation of this problem as a two-stage stochastic programming problem lies in the fact that
- the commitment decisions for each generating unit are considered scenario-independent, and, therefore, are unique for all possible scenarios (first-stage decisions), whereas
- the DAM sales, reserve awards and upward and downward Balancing Energy provisions of each generating unit of the Producer depends on the realization of each scenario (second-stage decisions).
