Formulating bidding strategies to maximize GENCO profits

Author

Le, Khai

Author_Institution

PCI, Raleigh, NC, USA

Volume

3

fYear

2002

fDate

25-25 July 2002

Firstpage

1297

Abstract

Summary form only given. The purpose for this IEEE panel session is to discuss the new challenges facing generation companies (GENCOs) when they start to operate within RTO or ISO environments. The following are covered: formulation of bidding strategies to maximize GENCO profits; building IT infrastructure to bid generation: bidding mechanisms for realizing hydro efficiencies in market operations; the experience with bidding generation in California; the impact of uncertainties on bidding strategies; and forecasting loads and prices for the New England Market. The basic bidding philosophies being used throughout the US and and the new application tools required to perform these functions are also covered.

Keywords

costing; load forecasting; power generation economics; power markets; California; IT infrastructure; New England Market; bidding mechanisms; bidding strategies formulation; generation companies profits maximisation; hydro efficiencies; loads forecasting; market operations; prices forecasting; uncertainties; Costs; Economic forecasting; Fuels; Load forecasting; Portfolios; Power system modeling; Power system reliability; Uncertainty;

fLanguage

English

Publisher

ieee

Conference_Titel

Power Engineering Society Summer Meeting, 2002 IEEE

Conference_Location

Chicago, IL, USA

Print_ISBN

0-7803-7518-1

Type

conf

DOI

10.1109/PESS.2002.1043571

Filename

1043571