Abstract
For a pool-based electricity power market, the bidding strategy of individual generators is a key factor that influence the market clearing price. In this paper, the profit function and risk indexes for individual generators are derived. The bidding strategies of generators are selected based on different preference of profit and risks. Three typical strategy, aggressive, normal and conservative, are chosen as the bidding strategy for analysis. Simulations results on different scenarios show obvious effects of bidding strategies on the market clearing results.
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Acknowledgements
This work was supported by Science and Technology Project of Guangdong Power Grid Corporation [No. 036000KK52170010 (GDKJXM20173410)].
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Feng, S., Zhang, X., Bai, Y., Cheng, L., Bao, YQ., Wu, M. (2020). Influence of Risk Favor on the Market Clearing of a Competitive Electricity Market. In: Xue, Y., Zheng, Y., Rahman, S. (eds) Proceedings of PURPLE MOUNTAIN FORUM 2019-International Forum on Smart Grid Protection and Control. PMF PMF 2019 2021. Lecture Notes in Electrical Engineering, vol 584. Springer, Singapore. https://doi.org/10.1007/978-981-13-9779-0_76
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DOI: https://doi.org/10.1007/978-981-13-9779-0_76
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