Publication: Multimarket optimal bidding for a power producer
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2005-11
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IEEE Power & Energy Society
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Abstract
This paper considers a profit-maximizing thermal
producer that participates in a sequence of spot markets, namely,
day-ahead, automatic generation control (AGC), and balancing
markets. The producer behaves as a price-taker in both the
day-ahead market and the AGC market but as a potential
price-maker in the volatile balancing market. The paper provides
a stochastic programming methodology to determine the optimal
bidding strategies for the day-ahead market. Uncertainty sources
include prices for the day-ahead and AGC markets and balancing
market linear price variations with the production of the thermal
producer. Results from a realistic case study are reported and
analyzed. Conclusions are duly drawn.
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Keywords
Electricity spot markets, Market power, Optimal bidding strategies, Stochastic programming
Bibliographic citation
IEEE Transactions on Power Systems, nov. 2005, v. 20, n. 4, pp. 2041- 2050