Convex Hull Pricing in Electricity Markets: Formulation, Analysis, and Implementation Challenges

By Dane A. Schiro, T. Zheng, F. Zhao, Eugene Litvinov. IEEE Transactions on Power Systems, 2016

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Conic relaxations of the unit commitment problem (2017, background): “Another major benefit of the proposed method is that the dual parameters obtained from the proposed convex model automatically coincide with the best set of prices that can be designed to clear the electricity market (known as convex-hull pricing) [50].”
A Convex Primal Formulation for Convex Hull Pricing (2016, unknown): “This is a special case of a more general result on the type of uplift payments convex hull pricing minimizes, as shown in [4], [25], [26], since the only type of system-wide constraint considered for now is the supply-demand balance constraint.”
An Enhanced IEEE 33 Bus Benchmark Test System for Distribution System Studies (2021, background): “The convex hull fCH(x) of f(x) is the greatest convex function that satisfies ∀x, fCH(x) ≤ f(x) [23]–[25].”