A Study On Bidding Strategies Of Demand Side In The Power Market

With the development of reforming of national power market, power market will definitely be changed from generate electricity competition with unitary buyer to power generating side and demand side bidding for the wholesale competition mode. Under the wholesale competition mode, demand side needs also report the total amount and unit price of their preference. In the market where competition is not purely decided by the price, demand side needs solve the problem on finding out the perfect balance between the minimum price and the maximum profit. The study of demand side bidding strategies is imperative.First of all, the article is based on the correct defining of the study of power market mode and its regulations. In the article, linear complementarity models were separately constructed for the power plants, end-users, and the whole demand side. Each model has been testified that the existing of the Nash Equilibrium. Secondly, the article provides the detailed solution of demand side's best bidding parameter formula. Thirdly, the article gives out the related numerical examples to prove the feasibility of the model formula. Moreover, the article analyses the different scopes of demand sides, different demand side structures, and the influence of competition between the generation side and the demand side which influence the demand side bidding strategies and the operating of the power market.Based on the demand side linear complementarity models, and considering the uncertainty of the parameters held by the competitors, I constructed the risk-considered demand side bidding model by using risk policy decision theory. At the same time, by using Monte Carlo method, I found the solution of model and found out numerical examples。Finally, after analyzing the problems of formula, I used the subcetion B-spline fitting method to refine the formula. The last numerical example proved the feasibility and effectiveness of the formula improvement.