Bidding strategy in pay-as-bid markets based on supplier-market interaction analysis

被引：13
|
作者：
Bigdeli, N. [1 ]
Afshar, K. [1 ,2 ]
Fotuhi-Firuzabad, M. [2 ]
机构：
[1] Imam Khomeini Int Univ, EE Dept, Qazvin, Iran
[2] Sharif Univ Technol, EE Dept, Tehran, Iran
来源：
ENERGY CONVERSION AND MANAGEMENT | 2010年 / 51卷 / 12期
关键词：
Bidding strategy; Electricity market; Incomplete information; Neural networks; Pay-as-bid; ELECTRICITY; PRICE; GAME;
D O I：
10.1016/j.enconman.2010.05.006
中图分类号：
O414.1 [热力学];
学科分类号：
摘要：
In this paper, a new bidding strategy for pay-as-bid market suppliers is introduced. This method is based on a systematic analysis of interactions of market with the suppliers via several market indices as well as forecasting important indices by artificial neural networks. Besides, the proposed method considers the practical limitations in the system and deals with incomplete information handling, closely. Next, a strategic bidding approach is proposed for optimal bidding by the suppliers. In these investigations, the paper focus is on the experimental situation of Iran electricity market as a pay-as-bid market and a sample generating company with several generating units from this market is considered as the benchmark. The results of applying this approach to this generating company are representative of good performance of the proposed method. (C) 2010 Elsevier Ltd. All rights reserved.
引用
收藏
页码：2419 / 2430
页数：12
相关论文
共 50 条
  • [1] Bidding strategy in pay-as-bid power markets
    Oloomi-Buygi, Majid
    Nazarian, Hossein
    [J]. PROCEEDINGS OF THE SEVENTH IASTED INTERNATIONAL CONFERENCE ON POWER AND ENERGY SYSTEMS, 2007, : 314 - +
  • [2] Analysis of bidding price in the pay-as-bid market
    Wei, P
    Chen, L
    Chiang, HD
    [J]. 2003 IEEE POWER ENGINEERING SOCIETY GENERAL MEETING, VOLS 1-4, CONFERENCE PROCEEDINGS, 2003, : 997 - 1001
  • [3] Optimal bidding strategy of wind power producers in pay-as-bid power markets
    Afshar, Karim
    Ghiasvand, Farshad Shamsini
    Bigdeli, Nooshin
    [J]. RENEWABLE ENERGY, 2018, 127 : 575 - 586
  • [4] Bidding analysis in joint energy and spinning reserve markets based on pay-as-bid pricing
    Khorasani, J.
    Mashhadi, H. Rajabi
    [J]. IET GENERATION TRANSMISSION & DISTRIBUTION, 2012, 6 (01) : 79 - 87
  • [5] Designing Optimal Bidding Curve in Electricity Pay-as-Bid Markets
    Khorasani, Javid
    Mashhadi, Habib Rajabi
    [J]. 2013 21ST IRANIAN CONFERENCE ON ELECTRICAL ENGINEERING (ICEE), 2013,
  • [6] Bidding in an Electricity Pay-as-Bid Auction
    Giulio Federico
    David Rahman
    [J]. Journal of Regulatory Economics, 2003, 24 : 175 - 211
  • [7] Bidding in an electricity pay-as-bid auction
    Federico, G
    Rahman, D
    [J]. JOURNAL OF REGULATORY ECONOMICS, 2003, 24 (02) : 175 - 211
  • [8] A risk-based approach for bidding strategy in an electricity pay-as-bid auction
    Sadeh, Javad
    Mashhadi, Habib Rajabi
    Latifi, Mohammad Amin
    [J]. EUROPEAN TRANSACTIONS ON ELECTRICAL POWER, 2009, 19 (01): : 39 - 55
  • [9] Pay-as-bid based reactive power market
    Amjady, N.
    Rabiee, A.
    Shayanfar, H. A.
    [J]. ENERGY CONVERSION AND MANAGEMENT, 2010, 51 (02) : 376 - 381
  • [10] Supplier's optimal bidding strategy in electricity pay-as-bid auction: Comparison of the Q-learning and a model-based approach
    Rahimiyan, M.
    Mashhadi, H. Rajabi
    [J]. ELECTRIC POWER SYSTEMS RESEARCH, 2008, 78 (01) : 165 - 175
12345