A novel approach to evaluate the variation of power producer's bidding curves based on dimensional reduction model

Abstract

SUMMARYA dimension reduction model is proposed in this paper. The proposed model can be used to transform the unit's biding curve of power producers of a market into a one-dimensional feature vector, which reflects the changes of the bidding curve quite conformably. As a result, the unit's biding curves can be classified by using cluster analysis. Through clustering calculations of the bidding curves of Zhejiang electricity market, it is shown that the bidding curve can be classified accurately and efficiently by using a 20-segment model and the squared sum of deviations.

Testing optimality of firms' actual bid in Iran wholesale electricity market

“…The validity test for the SFE model is examined by Rudkevich, extending this analysis to a learning concept in the electricity market. Uniqueness and symmetric SFE existence are considered by a number of authors, most notably Anderson et al and Zhou et al Furthermore, Bompard et al, Crawford et al, Soleymani et al, Soleymani et al, Wang et al, and Wen et al extract firms' optimal bidding strategy using this method. Reference Newbery shows that if the number of bidding steps was allowed to increase, continuous SFE would be possible.…”

Bid based Power Flow for Practical Utility System

“…In the papers [7&8], the bidding strategy of a system is determined with inadequate information between the competitors in a multi trading market is solved by Watkins's reinforcement learning method. Many researchers [9][10][11][12], describe the leadership, the company with large generating capacity and low generating cost is named as leadership-Company and it may concentrate on gaining of additional profit. So market will be less efficient and it influences the optimal bidding strategies.…”