Electricity market strategy characterisation with fuzzy logic: application to different types of power plants

In the last decade many countries have gone through liberalisation of their electricity industries. In many instances this has seen a move towards increased competition with market forces left to determine price. The resultant changes to market structure affect both electricity market participation and the operation of the power systems requiring a whole range of new issues to be addressed. This paper proposes an electricity market oriented tool that creates bidding strategies in a competitive market environment by combining fuzzy logic and deterministic approaches. In this way the technical, economic and behavioural decision making process of a generation based market participant is considered. The proposed model can be accommodated by both a power exchange and a balancing market The results obtained for different types of plants have been compared with actual market results for a representative combined cycle gas turbine plant (CCGT).