Title :
Impact of uncertainties on bidding strategies
Author_Institution :
Reliant Energy, Baltimore, MD, USA
Abstract :
Summary form only given, as follows. The author talks about the need to model uncertainties in formulating bidding strategies. He asks: can one determine a bidding strategy that maximizes the expected profits from both the day-ahead and hour-ahead markets?; and how much should one bid in the day-ahead market versus holding back and playing in the real-time market? He argues that, in order to properly address this issue, traders need to assess risks-volumetric risks caused by unit forced outages as well as market-price risks.
Keywords :
power generation economics; power generation planning; power markets; risk management; bidding strategies formulation; day-ahead markets; expected profits maximisation; generation bidding strategies; hour-ahead markets; market-price risks; risk assessment; uncertainties impact; unit forced outages; volumetric risks; Uncertainty;
Conference_Titel :
Power Engineering Society Summer Meeting, 2002 IEEE
Conference_Location :
Chicago, IL, USA
Print_ISBN :
0-7803-7518-1
DOI :
10.1109/PESS.2002.1043576
