Title :
Study on Bidding Schemes and Decision-Making Method for Power Plant in Day-Ahead Power Market
Author :
Yuan, Zhongxiong ; Gu, Danzhen
Author_Institution :
Comput. & Inf. Eng. Inst., Shanghai Univ. of Electr. Power, Shanghai, China
Abstract :
This paper presents a novel method to help the bidder to make a reasonable bidding strategy. Three bidding schemes are discussed in this paper, that is, cost analytical method, time series analysis method and grey prediction method. The decision method based on multi-attribute decision-making principle is presented to choose a best bidding strategy from optional three schemes. This method is used in a certain power plant of East-China electricity market and case study verified its effectiveness.
Keywords :
commerce; costing; decision making; power generation economics; power markets; prediction theory; time series; East-China electricity market; bidding schemes; cost analytical method; grey prediction method; multi-attribute decision-making method; power market; power plant; time series analysis method; Costs; Decision making; Economic forecasting; Electricity supply industry; Fluctuations; Neural networks; Power engineering and energy; Power generation; Power markets; Time series analysis; electricity market; market clearing price(MCP); multi-attribute decision-making principle;
Conference_Titel :
Artificial Intelligence and Computational Intelligence, 2009. AICI '09. International Conference on
Conference_Location :
Shanghai
Print_ISBN :
978-1-4244-3835-8
Electronic_ISBN :
978-0-7695-3816-7
DOI :
10.1109/AICI.2009.473
