Novel Approaches for the Clearing of the European Day-Ahead Electricity Market

In this paper, three novel approaches are presented for the clearing of the European day-ahead electricity market, incorporating the majority of the currently tradable products, namely the simple hourly orders, the block orders, the complex orders, and the “Prezzo Unico Nazionale” (PUN) orders. The first approach employs a Master Problem and a Sub-Problem sequentially solved within an iterative pr...