Optimal bidding of a profit-maximizing hydropowerproducer in day-ahead and real-time markets
2014 (English)In: Probabilistic Methods Applied to Power Systems (PMAPS), 2014 International Conference on, IEEE conference proceedings, 2014, 1-6 p.Conference paper (Refereed)
This paper develops a price-driven optimal bidding strategy to day-ahead and real-time markets for a profit maximizer hydro power producer. The electricity prices in different market places are unknown when the bidding takes place. The optimal bidding problem is modeled as a multi-stage stochastic program considering the market prices continuously clearing nature. Specifically for that purpose rolling planning is applied, which allow re-forecasting and re-dispatching according to the arrival of new information. The results have shown that, there is a value for hydropower producer to participate in real-time market.
Place, publisher, year, edition, pages
IEEE conference proceedings, 2014. 1-6 p.
Other Electrical Engineering, Electronic Engineering, Information Engineering
IdentifiersURN: urn:nbn:se:kth:diva-165032DOI: 10.1109/PMAPS.2014.6960589ISI: 000358734100012ScopusID: 2-s2.0-84915748907ISBN: 978-1-4799-3561-1OAI: oai:DiVA.org:kth-165032DiVA: diva2:806776
International Conference on Probabilistic Methods Applied to Power Systems (PMAPS),7-10 July 2014,Durham
QC 201505222015-04-212015-04-212016-09-22Bibliographically approved