Bloom and Gallant have proposed an elegant model for finding the optimal thermal schedule subject to matching the load-duration curve and general linear constraints. Their method is based on a linear program with some linear equality constraints and many linear inequality constraints. There have been applications of this procedure to multi-interval problems using the active set method and the Dantzig-Wolfe column generation method, and through direct application of linear optimization packages using an available modeling language.
This presentation describes the model of long-term hydrothermal electric power planning adapted to use Bloom and Gallant's procedure, and puts forward a new quadratic formulation of the maximum profit problem of a generating company in a competitive market.
The implementation of the active set and the Dantzig-Wolfe column generation methods to solve these problems will then be discussed.
The computational experience reported includes the solutions of several long-term power planning problems of different sizes using a modeling language and available linear and quadratic programming solvers, and the comparison of the performance of the active set method and the Dantzig-Wolfe column generation procedure. Several remarks will be made on the effect of implementation issues in both procedures.
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