Abstract
A mathematical model for optimized operation of the Russian unified power system is constructed by selecting loading modes of power-generating equipment on the basis of price bids by generating companies. The optimization is supposed to be conducted according to the criterion of the least cost subject to network limitations and conditions of flow distribution in the electric power system. The main stages of management decision making and their interrelation are considered. A nodal model of electric power pricing in this scheme is presented. The influence of different stages on the uniform nodal prices is investigated. The operation of the wholesale electric power (capacity) market model in Russia is described for the period starting July 1, 2008.
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