Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
399062 | International Journal of Electrical Power & Energy Systems | 2007 | 10 Pages |
Abstract
In this paper a novel approach for simultaneous bidding in day-ahead auctions for spot energy and power systems reserve is presented. For the spot market a relatively simple method is considered as a competitive market is assumed. For the reserve market the bidder is considered to behave strategically and the behavior of the competitors is summarized in a joint probability distribution of the market price. This results in a method for simultaneous bidding, where the bidding prices and capacities on the spot and reserve markets are calculated by maximizing a stochastic non-linear objective function of expected profit.
Related Topics
Physical Sciences and Engineering
Computer Science
Artificial Intelligence
Authors
Derk J. Swider,