Bidding strategy selection in a day-ahead electricity auction system
The paper focuses on bidding selection mechanisms based both on offer price and electricity-quantity strategies. The aim of the paper is to present a procedure that allows the use of both game theory and of detailed cost-based unit-commitment computer codes. The procedure is conceived in a way to be as much as possible independent of the specific market rules. The results of a preliminary analysis are shown, concerning simple test cases that incorporate some distinctive characteristics of electricity markets and power plants.
Dept. of Electrical Engineering, University of Bologna, viale Risorgimento 2, 40136 Bologna, Italy Department of Electrical Engineering, University of Genova, via Opera Pia 11 a, 16145 Genova, Italy, Conference code: 73241, Export Date: 25 April 2012, Source: Scopus, Art. No.: 4524726, doi: 10.1109/PTC.2005.4524726, Language of Original Document: English, Correspondence Address: Borghetti, A.; Dept. of Electrical Engineering, University of Bologna, viale Risorgimento 2, 40136 Bologna, Italy, References: Ferrero, R.W., Shahidehpour, S.M., Ramesh, V.C., Transaction analysis in deregulated power systems using game theory (1997) IEEE Trans. on Power Systems, 12 (3). , August; Lamont, J.W., Rajan, S., Strategic bidding in an energy brokerage (1997) IEEE Trans. on Power Systems, 12, pp. 1729-1733. , Nov; Visudhiphan, P., Ilic, M.D., Dynamic games-based modeling of electricity markets (1998) Proc. IEEE-PES Meeting; Gross, G., Finlay, D., Deltas, G., Strategic bidding in electricity generation supply markets (1999) Proc. of IEEE PES Winter Meeting, 1, pp. 309-315. , New York; Garcia, J., Roman, J., Barquin, J., Gonzalez, A., Strategic bidding in deregulated power systems (1999) 13th PSCC, , Trondheim, June; Richter, C.W., Sheble, G.B., Ashlock, D., Comprehensive bidding strategies with genetic programming/finite state automata (1999) IEEE Trans. on Power Systems, 14, pp. 1207-1212. , Nov; Weber, J.D., Overbye, T.J., A two-level optimization problem for analysis of market bidding strategies (1999) Proc. IEEE PES Summer Meeting, 2, pp. 1845-1849; Song, H., Liu, C.-C., Lawarrée, J., Dahlgren, R.W., Optimal electricity supply bidding by Markov decision process (2000) IEEE Trans. on Power Systems, 15 (2). , May; Hao, S., A study of basic bidding strategy in clearing pricing auctions (2000) IEEE Trans. on Power Systems, 15 (3). , August; Guan, X., Ni, E., Luh, P.B., Chi Ho, Y., Optimization-based bidding strategies for deregulated electric power markets (2001) The next generation of electric power unit commitments models, , Kluwer, Norwell; Wen, F., David, A.K., Optimal bidding strategies and modeling of imperfect information among competitive generators (2001) IEEE Trans. on Power Systems, 16, pp. 15-21; Hobbs, B.F., Linear complementarity models of Nash-Cournot competition in bilateral and poolco power (2001) IEEE Trans. on Power Systems, 16 (2). , May; Shrestha, G.B., Kai, S., Goel, L., Strategic bidding for minimum power output in the competition market (2001) IEEE Trans. on Power Systems, 16, pp. 813-818. , Nov; Contreras, J., Candiles, O., de la Fuente, J.I., Gomez, T., A cobweb bidding strategy for competitive electricity markets (2002) IEEE Trans. on Power Systems, 17, pp. 148-153. , Feb; Ramos, A., Ventosa, M., Rivier, M., Santamaria, A., An iterative algorithm for profit maximization by market equilibrium constraints (2002) 14th PSCC, , Sevilla, 24-28 June; Cazzol, M.V., Garzillo, A., Innorta, M., Strategic bidding for an independent power producer in a competitive energy market with interarea constraints (2002) 14th PSCC, , Sevilla, 24-28 June; Conejo, A.J., Contreras, J., Arroyo, J.M., de la Torre, S., Optimal response of an oligopolistic generating company to a competitive pool-based electric power market (2002) IEEE Trans. on Power Systems, 17 (2), pp. 424-430; NI, E., Luh, P.B., Optimal integrated generation bidding and scheduling with risk management under a deregulated daily power market (2002) Proc. 2002 IEEE-PES Winter Meeting, , New York, Jan; Dicorato, M., Minoia, A., Sbrizzai, R., Trovato, M., A simulation tool for studying the day-ahead energy market: The case of Italy (2002) Proc. IEEE-PES Meeting; Gajjar, G.R., Khaparde, S.A., Nagaraju, P., Soman, S.A., Application of actor-critic learning algorithm for optimal bidding problem of a Genco (2003) IEEE Transactions on Power Systems, 18 (1). , February; Borghetti, A., Frangioni, A., Lacalandra, F., Nucci, C.A., Pelacchi, P., Using of a cost-based Unit Commitment algorithm to assist bidding strategy decisions (2003) Proc. of 2003 Bologna Power Tech, , Bologna, June 23-26; Gountis, V.P., Bakirtzis, A.G., Bidding strategies for electricity producers in a competitive electricity marketplace (2004) IEEE Transactions on Power Systems, 19 (1), pp. 356-365. , Feb; Rodriguez, C.P., Anders, G.J., Bidding Strategy Design for Different Types of Electric Power Market Participants (2004) IEEE Trans. on Power Systems, 19 (2), pp. 964-971. , May; de la Torre, S., Contreras, J., Conejo, A.J., Finding multiperiod Nash equilibria in pool-based electricity markets (2004) IEEE Transactions on Power Systems, 19 (1), pp. 643-651. , Feb
Record created on 2012-05-01, modified on 2016-08-09