Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/15581
Title: Coordination of bidding strategies in day-ahead energy and spinning reserve markets
Authors: Wen, F
David, AK
Keywords: Ancillary service
Bidding strategies
Day-ahead market
Genetic algorithm
Spinning reserve
Stochastic optimisation
Issue Date: 2002
Publisher: Elsevier
Source: International journal of electrical power and energy systems, 2002, v. 24, no. 4, p. 251-261 How to cite?
Journal: International journal of electrical power and energy systems 
Abstract: In this paper, the problem of building optimally coordinated bidding strategies for competitive suppliers in day-ahead energy and spinning reserve markets is addressed. It is assumed that each supplier bids 24 linear energy supply functions and 24 linear spinning reserve supply functions, one for each hour, into the energy and spinning reserve markets, respectively, and each market is cleared separately and simultaneously for all the 24 delivery hours. Each supplier makes decisions on unit commitment and chooses the coefficients in the linear energy and spinning reserve supply functions to maximise total benefits, subject to expectations about how rival suppliers will bid in both markets. Two different bidding schemes have been suggested for each hour, and based on them an overall coordinated bidding strategy in the day-ahead energy and spinning reserve market is then developed. Stochastic optimisation models are first developed to describe these two different bidding schemes and a genetic algorithm (GA) is then used to build the optimally coordinated bidding strategies for each scheme and to develop an overall bidding strategy for the day-ahead energy and spinning reserve markets. A numerical example is utilised to illustrate the essential features of the method.
URI: http://hdl.handle.net/10397/15581
ISSN: 0142-0615
DOI: 10.1016/S0142-0615(01)00038-2
Appears in Collections:Journal/Magazine Article

Access
View full-text via PolyU eLinks SFX Query
Show full item record

SCOPUSTM   
Citations

59
Last Week
0
Last month
0
Citations as of Oct 11, 2017

WEB OF SCIENCETM
Citations

34
Last Week
0
Last month
0
Citations as of Oct 17, 2017

Page view(s)

36
Last Week
2
Last month
Checked on Oct 15, 2017

Google ScholarTM

Check

Altmetric



Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.