Bidding strategies of power suppliers in electricity market

It is an inexorable trend to introduce competition into generation and demand side of electricity market. For power suppliers, the most important is to optimize bidding strategies and reduce power transaction cost, so they can improve their marketing competitive capacity and obtain more profit. With a view to wholesale competition, this article studies the bidding strategies that are closely based on cost analysis. The cost analysis is accomplished on the basis of power purchase cost of power suppliers together with the prediction of the bidding price of competitors and other marketing factors. Last, the article sets up the power supplier bidding strategy optimization model with maximizing revenue in target function.