A Study On Buyer's Bidding Strategies In Power Market

With the reform of national wide power industry, the demand side of power market will definitely change from single buyer mode to the wholesale competition mode. Under the wholesale competition mode, the buyers in the market also need to submit the preferred quantity and price of their consumption. In a market where competition is not purely determined by the price, buyers need to solve the problem of how to obtain better profits by using proper bidding strategy. Thus the study of buyer's bidding strategies is imperative.First of all, the study is based on the assumed definition of the subject power market mode and its rules. In the thesis, linear complementarity models were constructed for each type of buyers in the market, including distribution companies and large end-users. The existence of the Nash Equilibrium point of each model is proved. Secondly, the thesis provides the detailed solution algorithm to obtain buyer's best bidding parameters. Thirdly, the related numerical examples are shown to prove the feasibility of the proposed formula. Moreover, the thesis analyzes the effects of several factors on the market operation, including different scopes of buyers, different demand side structures, and the competition degree between the generation side and the demand side.Based on the buyer's linear complementarity models, and considering the uncertain parameters of the competitors, the risk-considered bidding model of the buyer in the market is constructed and the Monte Carlo method is used to solve the proposed model, which can consider both the expectation and deviation of buyer's profit. The subcetion B-spline fitting method is proposed to refine the goodness of the result curve and the numerical results demonstrate the feasibility and effectiveness of the proposed method.