Title :
Bidding strategy design for different types of electric power market participants
Author :
Rodriguez, Claudia P. ; Anders, George J.
Author_Institution :
Electr. & Comput. Eng. Dept., Univ. of Toronto, Ont., Canada
fDate :
5/1/2004 12:00:00 AM
Abstract :
This paper presents a methodology to design an optimal bidding strategy for a generator according to his or her degree of risk aversion. A typical thermal plant is assumed to be located in the Ontario electricity system to apply this methodology for two types of participants: risk averse and risk seeker.
Keywords :
power generation economics; power markets; risk analysis; thermal power stations; bidding strategy design; electric power market; risk aversion; risk seeker; thermal plant; Design methodology; Economic forecasting; Electricity supply industry; Environmental economics; Fuel economy; Fuzzy logic; Power generation; Power generation economics; Probability distribution; Risk analysis;
Journal_Title :
Power Systems, IEEE Transactions on
DOI :
10.1109/TPWRS.2004.826763
