1. Introduction

1.1. Economic Strategy of Electricity Generation Companies

1.2. The Wholesale market and the retail market for electricity 1.3. The market for ancillary services 1.4. Deregulated markets across the world

2. A generation company in the electricity market

2.1. Price-based Dynamic Economic Dispatch formulation

2.2. Implementation in Python

2.3. Implementation in GAMS

3. A generation company in the Reserves Market

3.1. The concept of the spinning reserve

3.2. Price-based Dynamic Economic Dispatch formulation

3.3. Implementation in Python

3.4. Implementation in GAMS

4. Conclusions

4.1. Overview