Building an electricity market model from scratch
summary
Builds an optimisation from a Victoria five‑minute snapshot and shows exactly what is modelled and why it matters: a two-generator toy grid with demand forced equal to generation, dispatch solved every five minutes and prices that can go negative, how infeasible peaks become an unserved-energy variable with a $40,000 penalty, and how capacity becomes a decision via a buildable gas variable. Uses Python data shaping with pandas and an optimisation solver, adds dump variables and renewable availability limits, and shows what the solver actually returns.
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chapters (9)
- 0:00Introduction and context
- 1:32Understanding energy markets
- 5:46Basics of optimization
- 9:22Building the base model
- 11:54Handling model infeasibility
- 12:57Expanding model capabilities
- 14:17Integrating renewables
- 15:17Advanced modeling and wrap-up
- 18:33Q&A session
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