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The Electric Power Bidding Strategies Research And System Development

Posted on:2003-09-03Degree:MasterType:Thesis
Country:ChinaCandidate:L J YangFull Text:PDF
GTID:2156360092470067Subject:Technical Economics and Management Studies
Abstract/Summary:PDF Full Text Request
In recent years, the electric power industries in China have been undergoing massive changes to introduce competition into electric power system. Much effort has been made to restructure the traditional monopoly power industry with objectives of introducing fair competition and improving economic efficiency. The creation of mechanisms for power suppliers to openly trade electricity is at the core of this change. In a well-designed electricity market, every utility participating competitive market will achieve his objective with maximizing significance by means of optimal bidding strategies. Meanwhile, effective and fair competition among electric power utilities should attain optimal allocation of social resource and obtain maximum social welfare. The electric utilities' profits depend on the effective implementation of a successful bidding strategy. In this research, a few framework to build optimal bidding strategies for power suppliers in an electricity market is presented. This paper describes some optimal technologies, methods and formulations such as optimization auction strategy mould, risk hedging patterns and so on, basing on a great many of economy principles and realistic electricity production experiences. In addition, a suit of software relating with an optimal bidding strategies system that is one of the more coincide with practical conditions than any other else is developed with objective to help rival suppliers to bid and maximize their benefits furthermore. Finally, numerous examples serve to illustrate the essential features of the approach above-mentioned and the results would be used to direct the electricity market competition.
Keywords/Search Tags:electricity market, bidding strategies, optimization, risk hedging
PDF Full Text Request
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