Risk-Constrained Optimal Bidding Strategy in Pay-as-Bid Electricity Markets
In this paper, an optimal bidding strategy of a generation company (GenCos) that participates in a pay as bid electricity market is developed. A new method is proposed to obtain the Nash equilibrium point for optimal bidding strategy of GenCos considering the risk of the bidding of the interested GenCo. For this purpose, the optimal bidding problem is modeled with two optimization sub-problems. In the first subproblem, each GenCo maximizes its payoff, and in the second sub-problem, a system dispatch will be accomplished. particle swarm optimization (PSO) algorithm is used to find optimal bidding strategy of each GenCo in this method. For evaluating the risk of the bidding of the interested GenCo, appropriate range of the bidding of the GenCo is found such that the desired payoff is also achieved. The Western System Coordinating Council (WSCC) nine bus test system is used to illustrate the implementation of the proposed method for a typical power system.
Yahya Abbasi Nooshin Bigdeli Karim Afshar
Electrical Engineering Imam Khomeini International University Qazvin, Iran
国际会议
International Conference on Management and Service Science(2011年第五届管理与服务科学国际会议 MASS 2011)
武汉
英文
1-4
2011-08-12（万方平台首次上网日期，不代表论文的发表时间）