A Linear and Scalable Cutting-Plane Algorithm for Electricity Pricing
Fuente:
arXiv
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| Autori principali: | , , |
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| Natura: | Preprint |
| Pubblicazione: |
2025
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| _version_ | 1866909576672051200 |
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| author | Romero, Matías Verástegui, Felipe Villagra, Matías |
| author_facet | Romero, Matías Verástegui, Felipe Villagra, Matías |
| contents | We propose a linear cutting-plane pricing algorithm tailored for large-scale electricity markets, addressing nonconvexities arising from the Alternating Current Optimal Power Flow equations. We benchmark our algorithm against a Direct Current (DC) approximation and the Jabr Second-Order Cone (SOC) relaxation under both the Integer Programming and Convex Hull pricing rules. We provide numerical results for a small (617-bus) and three large ($\geq 15,000$-bus) networks. Our algorithm yields price signals very close to the Jabr SOC, with computation times comparable to DC once we allow for warm-starts, including scenarios with line contingencies. |
| format | Preprint |
| id |
arxiv_https___arxiv_org_abs_2504_09008 |
| institution | arXiv |
| publishDate | 2025 |
| record_format | arxiv |
| spellingShingle | A Linear and Scalable Cutting-Plane Algorithm for Electricity Pricing Romero, Matías Verástegui, Felipe Villagra, Matías Optimization and Control We propose a linear cutting-plane pricing algorithm tailored for large-scale electricity markets, addressing nonconvexities arising from the Alternating Current Optimal Power Flow equations. We benchmark our algorithm against a Direct Current (DC) approximation and the Jabr Second-Order Cone (SOC) relaxation under both the Integer Programming and Convex Hull pricing rules. We provide numerical results for a small (617-bus) and three large ($\geq 15,000$-bus) networks. Our algorithm yields price signals very close to the Jabr SOC, with computation times comparable to DC once we allow for warm-starts, including scenarios with line contingencies. |
| title | A Linear and Scalable Cutting-Plane Algorithm for Electricity Pricing |
| topic | Optimization and Control |
| url | https://arxiv.org/abs/2504.09008 |