Strategic bidding in a competitive electricity market: A decomposition approach

Á. Baíllo, M. Ventosa, M. Rivier, A. Ramos

IEEE PowerTech Conference - PowerTech 2001, Porto (Portugal). 10-13 September 2001

Summary:
Daily bidding is an activity of paramount importance for generation companies operating in day-ahead electricity markets. The authors have developed a strategic bidding procedure based on strochastic programming to obtain optimal bids. In this paper the problem is decomposed under the Benders framework to permit the solution of large-size problems. A numerical example illustrates the advantages of the proposed approach.

Keywords: Competitive electricity market, decomposition techniques, generation scheduling, strategic bidding

DOI: https://doi.org/10.1109/PTC.2001.964625

Publication date: 2001-09-10.

Citation:
Á. Baíllo, M. Ventosa, M. Rivier, A. Ramos, Strategic bidding in a competitive electricity market: A decomposition approach, IEEE PowerTech Conference - PowerTech 2001, Porto (Portugal). 10-13 September 2001.