Research On Power Suppliers' Price Bidding Problem In Power Market

With the growth of national economy, the electric power industry is rapidlydeveloping. The electricity power system of our country is in the critical stage ofreform. And it is inescapable that the competition will be introduced into thepower generating market. And the separation between power plant and net as wellas price bidding on the net are becoming the important parts of the power reform.according to the national power reform scheme and the characters of powerindustry, this paper researches on the bidding problem of power suppliers with thehelp of economics theory and puts forward some useful relevant countermeasure.This paper provides a framework to obtain some optimal strategiesaccording to different risk analysis and decisions. An optimization process is usedto find the optimal production for forecasted price and several boundary priceswhich are defined based on different confidence level of price probabilitydistribution. Market participants would select their most interesting prices relatedto its attitude depends on its degree of risk aversion to construct the biddingstrategy. The main contribution of this work is a methodology to find a biddingstrategy. The new optimal bidding strategy composed of curves with optimal offerblocks where only information related to forecasted demand and market-clearingprices is required shows its superiority to others.Tang Jing (North China Electric Power University)...