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dc.contributor.authorMeeus, Leonardo
dc.contributor.authorVerhaegen, K.
dc.contributor.authorBelmans, Ronnie
dc.date.accessioned2017-12-02T14:43:06Z
dc.date.available2017-12-02T14:43:06Z
dc.date.issued2009
dc.identifier.doi10.1016/j.ejor.2008.04.031
dc.identifier.urihttp://hdl.handle.net/20.500.12127/4620
dc.description.abstractIn Europe, the auctions organized by “power exchanges” one day ahead of delivery are multi-unit, double-sided, uniformly priced combinatorial auctions. Generators, retailers, large consumers and traders participate at the demand as well as at the supply side, depending or whether they are short or long in electric energy. Because generators face nonconvex costs, in particular startup costs and minimum run levels, the exchanges allow "block orders" that are allor-nothing orders of a given amount of electric energy in multiple consecutive hours, while the standard order consists of an amount for a single hour that can be curtailed. All exchanges restrict the size (MWh/h), the type (span in terms of hours) or the number (per participant per day) of blocks that can be introduced. This paper discusses the rationale of block order restrictions. Based on simulations with representative scenarios, it is argued that the restrictions could be relaxed, which some exchanges have already started doing.
dc.language.isoen
dc.subjectEnergy Markets
dc.subjectOR in Energy
dc.subjectE-commerce
dc.subjectCombinatorial Auctions/bidding
dc.subjectPricing
dc.subjectInteger Programming
dc.titleBlock order restrictions in combinatorial electric energy auctions
dc.identifier.journalEuropean Journal of Operational Research
dc.source.volume196
dc.source.issue3
dc.source.beginpage1202
dc.source.endpage1206
vlerick.knowledgedomainSpecial Industries : Energy
vlerick.typearticleVlerick strategic journal article
vlerick.vlerickdepartmentEGS
dc.identifier.vperid40734
dc.identifier.vperid151626
dc.identifier.vperid162825
dc.identifier.vpubid5496


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