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Conference paper

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.

    Keywords: Bidding strategies ; Electricity market ; Game theory ; Unit commitment ; Electric power plants ; Electricity ; Electricity auctions ; Power plants ; epfl-smartgrids

    Note:

    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

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    Record created on 2012-05-01, modified on 2017-05-10

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