The Transactions of the Korean Institute of Electrical Engineers A (대한전기학회논문지:전력기술부문A)

The Korean Institute of Electrical Engineers (대한전기학회)
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A Study on the Supplier's Bidding Strategy Including Operating Reserve in an Electricity Market

발전 예비력을 포함한 전력시장에서의 공급자 입찰전략 연구

  • 이광호 (단국대 전기전자컴퓨터공학부) ;
  • 신재홍 (단국대 전기공학과)
  • Published : 2005.04.01
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Abstract

In an electricity market with an imperfect competition, participants make plans of bidding and transaction strategies to maximize their own profits. The market price and the quantity are concerned with the operation reserve as well as the bidding system and demand curves in an electricity market. This paper presents a market model combined by an energy market and an operating reserve market. The competition of the generation producers in the combined market is formulated as a gaming of selecting bid parameters such as intersections and slopes in bid functions. The Nash Equilibrium(NE) is analyzed by using a hi-level optimization; maximization of Social Welfare(SW) and maximization of the producers' profits.

Keywords

References

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