Proceedings of the KIEE Conference (대한전기학회:학술대회논문집)

The Korean Institute of Electrical Engineers (대한전기학회)
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An Optimal Bidding Strategy of a Generator Using Forecasted Spot Price Information

예측된 시장가격 정보를 이용한 발전기의 최적 입찰전략

  • Park, Jong-Bae (Electrical Engineering Department, Konkuk University) ;
  • Cho, Ki-Seon (Electrical Engineering Department, Konkuk University) ;
  • Lee, Ki-Song (Electrical Engineering Department, Konkuk University) ;
  • Shin, Joong-Rin (Electrical Engineering Department, Konkuk University)
  • Published : 2001.11.16
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Abstract

This paper discusses on an optimal bidding strategy of a generator in a competitive electricity spot market using the information of predicted spot price with some assumptions. Optimal bidding strategy of a generator is derived by solving a profit-maximizing optimization problem with a constraint where the forecasted spot price is treated as a constant value. The main advantage of this methodology is that the optimal bidding strategy of each generator can be obtained independently where the gaming characteristics of generators are merged into the forecasted spot price.

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