scholarly journals Aggregators’ Optimal Bidding Strategy in Sequential Day-Ahead and Intraday Electricity Spot Markets

Energies ◽  
2017 ◽  
Vol 10 (4) ◽  
pp. 450 ◽  
Author(s):  
Xiaolin Ayón ◽  
María Moreno ◽  
Julio Usaola
Keyword(s):  
Bidding Strategy ◽  
Spot Markets ◽  
Electricity Spot Markets ◽  
Optimal Bidding

Bilateral bidding strategy in joint day-ahead energy and reserve electricity markets considering techno-economic-environmental measures

2021 ◽  
pp. 0958305X2110148
Author(s):  
Mojtaba Shivaie ◽  
Mohammad Kiani-Moghaddam ◽  
Philip D Weinsier
Keyword(s):  
Electricity Market ◽  
Large Scale ◽  
Search Algorithm ◽  
Power Grid ◽  
Mathematical Formulation ◽  
Test System ◽  
Bidding Strategy ◽  
Level Problem ◽  
Optimal Bidding ◽  
Environmental Measures

In this study, a new bilateral equilibrium model was developed for the optimal bidding strategy of both price-taker generation companies (GenCos) and distribution companies (DisCos) that participate in a joint day-ahead energy and reserve electricity market. This model, from a new perspective, simultaneously takes into account such techno-economic-environmental measures as market power, security constraints, and environmental and loss considerations. The mathematical formulation of this new model, therefore, falls into a nonlinear, two-level optimization problem. The upper-level problem maximizes the quadratic profit functions of the GenCos and DisCos under incomplete information and passes the obtained optimal bidding strategies to the lower-level problem that clears a joint day-ahead energy and reserve electricity market. A locational marginal pricing mechanism was also considered for settling the electricity market. To solve this newly developed model, a competent multi-computational-stage, multi-dimensional, multiple-homogeneous enhanced melody search algorithm (MMM-EMSA), referred to as a symphony orchestra search algorithm (SOSA), was employed. Case studies using the IEEE 118-bus test system—a part of the American electrical power grid in the Midwestern U.S.—are provided in this paper in order to illustrate the effectiveness and capability of the model on a large-scale power grid. According to the simulation results, several conclusions can be drawn when comparing the unilateral bidding strategy: the competition among GenCos and DisCos facilitates; the improved performance of the electricity market; mitigation of the polluting atmospheric emission levels; and, the increase in total profits of the GenCos and DisCos.

Bayesian Nash Equilibrium in Electricity Spot Markets: An Affine-Plane Approximation Approach

2021 ◽  
pp. 1-1
Author(s):  
Pranjal Pragya Verma ◽  
Mohammad Hesamzadeh ◽  
Ross Baldick ◽  
Darryl Biggar ◽  
K. Shanti Swarup ◽  
...  
Keyword(s):  
Nash Equilibrium ◽  
Affine Plane ◽  
Spot Markets ◽  
Approximation Approach ◽  
Bayesian Nash Equilibrium ◽  
Electricity Spot Markets

scholarly journals Optimal bidding strategy for price takers and customers in a competitive electricity market

2017 ◽  
Vol 4 (1) ◽  
pp. 1358545 ◽  
Author(s):  
Somendra P.S. Mathur ◽  
Anoop Arya ◽  
Manisha Dubey ◽  
Gongnan Xie
Keyword(s):  
Electricity Market ◽  
Bidding Strategy ◽  
Optimal Bidding

scholarly journals Combined Bidding Strategy of Multi-owner Cascaded Hydropower Stations in Day-Ahead Market

2018 ◽  
Vol 246 ◽  
pp. 02036 ◽  
Author(s):  
Ying Yang ◽  
Weibin Huang ◽  
Guangwen Ma ◽  
Shijun Chen ◽  
Gang Liu ◽  
...  
Keyword(s):  
Electricity Market ◽  
Power Market ◽  
Bidding Strategy ◽  
Competitive Advantages ◽  
Bidding Strategies ◽  
Cascade Hydropower Stations ◽  
The Game Theory ◽  
Optimal Bidding ◽  
Hydropower Stations ◽  
Operation Characteristics

Under the background of the electricity market reform, if the multi-owner cascade hydropower stations bid separately, the overall competitive advantages of river basin cannot be exerted, and the overall benefits cannot achieve the maximization. Based on the operation characteristics of cascade hydropower stations and the rule of competitive bidding, this paper established a bi-level optimal model for bidding game in day-ahead market, and used the Nash equilibrium principle of the game theory and genetic algorithm to solve this model, the optimal bidding strategies of the multi-owner cascade hydropower stations have been solved under the circumstances of bidding by oneself and alliance. The results from the calculating examples showed that the unified price declaration of the multi-owner cascade hydropower stations in day-ahead market can improve the overall and individual generation efficiency, and proved the effectiveness and feasibility of the combined bidding strategy in power market.

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