DocumentCode
645715
Title
Strategic Generation Companies bidding with uncertainty using interval arithmetic
Author
Gutierrez-Alcaraz, G. ; Nunez-Ponce, Ana C.
Author_Institution
Programa de Graduados e Investig. en Ing. Electr., Inst. Tecnol. de Morelia, Morelia, Mexico
fYear
2013
fDate
22-24 Sept. 2013
Firstpage
1
Lastpage
6
Abstract
A proper assessment of the uncertainties resulting from the behavior of Generation Companies (GenCos) in wholesale electricity auctions helps to determine the best strategic bidding strategy. This paper proposes to optimize bidding strategies using interval arithmetic (IA). The resulting optimization problem is a multi-objective problem (MOP) which is solved by using the ε-constraint method. The new technique provides insights into market behavior with repeated bidding.
Keywords
electric power generation; optimisation; power markets; tendering; ε-constraint method; GenCos; MOP; bidding strategy; interval arithmetic; multiobjective problem; optimization problem; strategic generation companies; uncertainty; wholesale electricity auctions; Computational modeling; Electricity; Linear programming; Optimization; Probabilistic logic; Uncertainty; Vectors;
fLanguage
English
Publisher
ieee
Conference_Titel
North American Power Symposium (NAPS), 2013
Conference_Location
Manhattan, KS
Type
conf
DOI
10.1109/NAPS.2013.6666865
Filename
6666865
Link To Document