Avni Özözen

The day-ahead power market has become more complex with the allowance of block purchases from private sales companies. Resource handling has become the prominent problem for both energy suppliers and energy distributers. Complexity of the problem forces the approach by each role player in the market. This research handles the market position of a small hydropower plant owner who has negligible effect on market price construction in a complex competition environment. Based on an optimum schedule of three days, this model proposes policies for the power generator to maximize its profits. An MILP model, which uses the day-ahead market price forecasts from a hybrid SARIMA-ANN price forecasting model, is designed to optimize the day-ahead generation schedule. The case application in Turkish power market shows the increase of profit with a reliable generation schedule.