Strategies for group-bid and lever-bid in electricity markets

Studies on two models of strategies for groupbid and lever-bid are presented in this paper. Some constraints such as market constraints, transmission constraints, consumer constraints and generation constraints, saying marginal costs of units, maximal and minimal quantity output, ramp rate and so on, are taken into consideration in the models. Maximal profit may be acquired by group-bid in which the bidding quantities in a transaction day are optimally divided into a group of lesser quantities for different continuous or noncontinuous hours and lever-bid in which generators are optimally combined according to their marginal costs. Some strategies for group-bid and lever-bid are studied in the light of the characteristics of generators in this paper. The results of a computation example show their feasibility and validity of the models for group-bid and lever-bid, and show that the models for group-bid and lever-bid are more preponderant in biding.