A Tight Configuration-Component Based Hybrid Model for Combined-Cycle Units in MISO Day-Ahead Market

Abstract

This paper proposes a hybrid CCGT model for day-ahead market clearing, in order to enhance operation flexibility of CCGTs in practice. The proposed hybrid model, by taking benefits of combined offers on configurations and individual PTs from MPs, can reflect physical operation features of CCGTs more accurately. A comprehensive review on CCGT models in literature is conducted, and their advantages and shortcomings are analyzed. The mapping relationship between the two most investigated models, i.e., CFBM and CPBM, is then revealed and constructed for deriving the proposed hybrid model. Tightening formulations are further discussed for achieving better computational performance. The proposed hybrid model is tested and compared with CFBM via an IEEE 118-bus system and the MISO system. Results show great benefits in maintaining operation flexibility and enhancing social welfare.