DayAheadMarket: Modelling the Day-Ahead electricity market in Greece, funded by the NRG Trading S.A., Greece.
The project aims at the development of a unit commitment model for providing robust forecasting of system marginal price of te day-ahead market in Greece. The that incorporates technical, economic and environmental constraints towards finding an optimum solution of the short-term power system operation. The consideration of critical parameters, such as start-up costs, ramping capacity, ancillary services affect the energy mix and the system marginal price. The project endogenizes critical uncertainties, such as the crude oil spot price, lignite variable costs, natural gas spot price and CO2 emission allowances prices, by implementing monte-carlo analysis, towards providing the ranges for the system marginal prices, the energy mix and the power output of each power unit.