• DocumentCode
    3051800
  • Title

    Designing optimal bidding curve in electricity pay-as-bid markets

  • Author

    Khorasani, Javid ; Mashhadi, Habib Rajabi

  • Author_Institution
    Khorasan Inst. of Higher Educ., Mashhad, Iran
  • fYear
    2013
  • fDate
    14-16 May 2013
  • Firstpage
    1
  • Lastpage
    4
  • Abstract
    Regarding the importance of the strategic bidding problem in wholesale energy markets, a method is proposed to design the optimal piece-wise bid function from the viewpoint of a generation company. In this paper, the bidding problem is formulated, assuming the market clearing price as a stochastic variable. The method is used to calculate the optimal bidding curve. A simple example is presented to show the technique of the paper.
  • Keywords
    power markets; pricing; stochastic processes; electricity pay-as-bid markets; generation company; market clearing price; optimal bidding curve design; optimal piecewise bid function; stochastic variable; strategic bidding problem; wholesale energy markets; Companies; Electricity; Electricity supply industry; Games; Genetic algorithms; ISO; Optimization;
  • fLanguage
    English
  • Publisher
    ieee
  • Conference_Titel
    Electrical Engineering (ICEE), 2013 21st Iranian Conference on
  • Conference_Location
    Mashhad
  • Type

    conf

  • DOI
    10.1109/IranianCEE.2013.6599885
  • Filename
    6599885
    • Link To Document
    https://search.isc.ac/dl/search/defaultta.aspx?DTC=49&DC=3051800