Price-based unit commitment for bidding under price uncertainty
- 12 July 2007
- journal article
- Published by Institution of Engineering and Technology (IET) in IET Generation, Transmission & Distribution
- Vol. 1 (4) , 663-669
Abstract
Bidding plays an important role for Gencos participating in competitive electricity markets with the objective of maximising profit. While making bidding strategies, factors like characteristics of generators and price uncertainty need to be considered as they have direct impact on the expected profit. In this work, a method of building an optimal bid curve under price uncertainty using price-based unit commitment (PBUC) is presented. The results indicate a simple yet an effective bidding method.Keywords
This publication has 14 references indexed in Scilit:
- Optimal Integrated Generation Bidding and Scheduling With Risk Management Under a Deregulated Power MarketIEEE Transactions on Power Systems, 2004
- Nash equilibrium bidding strategies in a bilateral electricity marketIEEE Transactions on Power Systems, 2002
- Optimal bidding strategies and modeling of imperfect information among competitive generatorsIEEE Transactions on Power Systems, 2001
- Strategic bidding for minimum power output in the competitive power marketIEEE Transactions on Power Systems, 2001
- An ordinal optimization based bidding strategy for electric power suppliers in the daily energy marketIEEE Transactions on Power Systems, 2001
- A study of basic bidding strategy in clearing pricing auctionsIEEE Transactions on Power Systems, 2000
- Optimization based bidding strategies in the deregulated marketIEEE Transactions on Power Systems, 2000
- Thermal power generation scheduling by simulated competitionIEEE Transactions on Power Systems, 1999
- Revenue adequate bidding strategies in competitive electricity marketsIEEE Transactions on Power Systems, 1999
- Genetic algorithm evolution of utility bidding strategies for the competitive marketplaceIEEE Transactions on Power Systems, 1998