Optimal bidding strategy of wind power producers in pay-as-bid power markets

Afshar, K.; Ghiasvand, Farshad Shamsini; Bigdeli, Nooshin

doi:10.1016/j.renene.2018.05.015

Cited by 53 publications

(27 citation statements)

References 36 publications

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“…Schäfer et al [21] presented an optimal bidding strategy from the consumption side, by examining the active participation of an aluminum electrolysis company on the primary balancing market for the provision of ancillary services on demand, such as balancing power. Afshar et al [22] proposed an optimal bidding strategy on the production side, by examining how wind power producers can be active participants in pay-as-bid power markets. In the paper, we choose to form a dynamic bidding strategy, compared to the identification of an optimum strategy, as the focus of the paper is not the maximization of benefits for a producer or a consumer.…”

Section: Methodsmentioning

confidence: 99%

Impact of Bilateral Contracts on Wholesale Electricity Markets: In a Case Where a Market Participant Has Dominant Position

Dagoumas

2019

Applied Sciences

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This paper aims at tackling how the bilateral contracts affect wholesale electricity markets. It examines different levels of bilateral contracts among producers and demand aggregators, aiming to quantify their effect. In addition, it focuses on markets where bilateral contracts could be used as a tool by market participants with a dominant position. Further, the paper examined a case with asymmetrical portfolios, namely where a market participant has a dominant position as in case of Greece, aiming to investigate if bilateral contracts can be used as a tool to manipulate the market. The simulations have been done by an optimization model that provides the economic dispatch and clearing of the day-ahead electricity market. The model incorporated bilateral contracts with committed generating capacity from producers, as well as dynamic bidding strategy per market participant. Results provide useful insights on the design of electricity markets, especially in case of designing voluntary energy exchanges where a market participant has a dominant position.

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Section: Methodsmentioning

confidence: 99%

Impact of Bilateral Contracts on Wholesale Electricity Markets: In a Case Where a Market Participant Has Dominant Position

Dagoumas

2019

Applied Sciences

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“…Renewable Energy requires the advances in the reliability, availability, maintainability and safety in order to be competitiveness in the electrical energy market [1,2]. It is important in cold areas, where the energy production can be affected by the technology employed [3].…”

Section: Ncamentioning

confidence: 99%

Linear and nonlinear features and machine learning for wind turbine blade ice detection and diagnosis

et al. 2019

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The mass of ice on wind turbines blades is one of the main problems that energy companies have in cold climates. This paper presents a novel approach to detect and classify ice thickness based on pattern recognition through guided ultrasonic waves and Machine Learning. To successfully achieve a supervised classification, it is necessary to employ a method that allows the correct extraction and selection of features of the ultrasonic signal. The main novelty in this work is that the approach considers four feature extraction methods to validate the results, grouped by linear (AutoRegressive (AR) and Principal Component Analysis) and nonlinear (nonlinear-AR eXogenous and Hierarchical Non-Linear Principal Component Analysis), and feature selection is done by Neighbourhood Component Analysis. A supervised classification was performed through Machine Learning with twenty classifiers such as Decision tree, Discriminant Analysis, Support Vector Machines, K-Nearest Neighbours, and Ensemble Classifiers. Finally, an evaluation of the classifiers was done in single frequency and multi-frequency modes, obtaining accurate results.

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“…If the last few power stations that meet the load have the same declared price, but the total declared volume is greater than the demand gap, the remaining demanded electricity is allocated in proportion to the declared volume of each power station. The PAB (pay-as-bid) method is adopted for settlement, that is, settlement is performed according to the respective declared prices of each power station [6] .…”

Section: Market Trade Systemmentioning

confidence: 99%

Combined Bidding Strategy of Multi-owner Cascaded Hydropower Stations in Day-Ahead Market

Yang

Huang

et al. 2018

MATEC Web Conf.

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Under the background of the electricity market reform, if the multi-owner cascade hydropower stations bid separately, the overall competitive advantages of river basin cannot be exerted, and the overall benefits cannot achieve the maximization. Based on the operation characteristics of cascade hydropower stations and the rule of competitive bidding, this paper established a bi-level optimal model for bidding game in day-ahead market, and used the Nash equilibrium principle of the game theory and genetic algorithm to solve this model, the optimal bidding strategies of the multi-owner cascade hydropower stations have been solved under the circumstances of bidding by oneself and alliance. The results from the calculating examples showed that the unified price declaration of the multi-owner cascade hydropower stations in day-ahead market can improve the overall and individual generation efficiency, and proved the effectiveness and feasibility of the combined bidding strategy in power market.

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Optimal bidding strategy of wind power producers in pay-as-bid power markets

Cited by 53 publications

References 36 publications

Impact of Bilateral Contracts on Wholesale Electricity Markets: In a Case Where a Market Participant Has Dominant Position

Impact of Bilateral Contracts on Wholesale Electricity Markets: In a Case Where a Market Participant Has Dominant Position

Linear and nonlinear features and machine learning for wind turbine blade ice detection and diagnosis

Combined Bidding Strategy of Multi-owner Cascaded Hydropower Stations in Day-Ahead Market

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