Analysis of bidding price in the pay-as-bid-market

In this paper, we present a new method to analyze the bidding price of each participant (power suppliers and large consumers) in a pay-as-bid market. The bidding price will be divided into many components, depending on their influence on the price, such as the payments or incomes of other participants, transmission congestion, voltage limitations and other elements. This information is helpful to each participant and the system operator because the bidding prices are theoretically traced to each component in terms of the affecting capability. The proposed approach is also verified through computer simulations on a 3-bus example system and the IEEE 30-bus power system.