OptiPX – Solver for Bid Matching in Day-Ahead Spot Electricity Markets
OptiPX is a sophisticated solver designed for clearing bids in day-ahead electricity markets modeled as double-sided auctions over discrete time blocks. It incorporates detailed bid structures—including simple, block, and advanced block bids—and models the transmission network as a constrained undirected graph. The solver maximizes social welfare by optimally scheduling bids subject to network flow limits and bid constraints, determining market and area clearing prices that reflect congestion. Implemented as a MILP problem solved via Xpress-MP, OptiPX ensures scalable, flexible, and transparent market clearing.
Efficiently clearing electricity markets with complex bids and network constraints is a challenging optimization problem. Market operators require a solver that can handle multiple bid types, enforce network flow limits, and provide fair pricing reflecting congestion, while maximizing social welfare.
- Models 96 time blocks of 15 minutes each, adaptable to regulatory changes.
- Supports simple bids, block bids with ‘all-or-none’ constraints, and advanced block bids addressing liquidity and technical limits.
- Represents the power network as an undirected graph with branch and corridor flow limits.
- Determines Market Clearing Price (MCP) and Area Clearing Prices (ACP) based on congestion status.
- Formulates the problem as a MILP, solved efficiently using Xpress-MP.
- Employs tie-breaking rules prioritizing price, volume, and bid submission time.
- Returns cleared bid volumes, MCP/ACP, market clearing volume, and branch flows.
OptiPX is implemented in C++ on a Linux platform using the GNU gcc compiler. It interfaces with the Xpress-MP commercial MILP solver. Inputs include buy/sell bids with price-volume pairs, network topology and flow limits. Outputs detail cleared bids, prices, volumes, and network flows.
OptiPX promotes fair and efficient electricity markets by enabling transparent price discovery and congestion management. It supports reliable power delivery, encourages competitive participation, and maximizes social welfare, benefiting consumers, producers, and grid operators.
- Day-ahead electricity market operations: Efficiently matches buy and sell bids across multiple time blocks to clear the market fairly.
- Power grid congestion pricing and management: Identifies congested network areas and determines locational prices to manage grid constraints.
- Energy trading and auction platforms: Supports complex bid formats and ensures optimal scheduling for market participants.
- Market design research and simulation: Provides a test environment to analyze and improve electricity market mechanisms.
- Regulatory compliance and market monitoring: Assists regulators in verifying market fairness and adherence to operational rules.