Study on Bidding Strategy and Market Clearing Price in Electric Power Day-ahead Market using Market Simulation

Sasaki, Tetsuo; Kadoya, T.

doi:10.1541/ieejpes.126.243

Cited by 3 publications

(4 citation statements)

References 5 publications

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“…(9) to (15) for residential loads, in Eqs. (9), (16), and (18) under constraints (11) to (15). (18), (19), and (11) to (15) for industrial loads.…”

Section: The Bi-level Programming Problemmentioning

confidence: 99%

“…Specifically, those studies analyzed pricing processes [10,11], the problem of optimal energy procurement [7,8,[12][13][14], the relaxation of distribution line congestion using LMP (Locational Marginal Price) [15], and other issues; however, to the best of our knowledge, evaluation in terms of voltage has been far from sufficient. However, as mentioned above, voltage profiles in DNs may change with complete retail deregulation, and therefore, the effects of retail deregulation and DR on the system voltage must be sufficiently examined for proper voltage management.…”

Section: Introductionmentioning

confidence: 99%

“…Many past studies were devoted to the behavior of decision makers in the electricity market such as ISOs (Independent System Operators), generating companies, or consumers. Specifically, those studies analyzed pricing processes [10,11], the problem of optimal energy procurement [7,8,[12][13][14], the relaxation of distribution line congestion using LMP (Locational Marginal Price) [15], and other issues; however, to the best of our knowledge, evaluation in terms of voltage has been far from sufficient.…”

Section: Introductionmentioning

confidence: 99%

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Impact of Retailer and Consumer Behavior on Voltage in Distribution Network Under Liberalization of Electricity Retail Market

Sekizaki

Nishizaki

Hayashida

2015

Electrical Engineering Japan

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The liberalization movement in Japan will be expanded to the residential sector and full liberalization of the retail market will be achieved in the near future. Against this background, it is expected that transactions in a distribution network (DN), which has many consumers of the residential sector, will be activated. Furthermore, consumers can control their loads depending on the selling prices offered by retailers with the introduction of demand response (DR) technologies such as home energy management systems (HEMS). Due to the variation of load by DR, however, the voltage profile in DN may be changed compared to the present situation. This may make voltage management difficult and cause problems such as voltage deviation from an adequate range. In this paper, the impact of DR in a liberalized electricity market on DN is evaluated for efficient voltage management. In order to evaluate the behavior of the retailer and consumers, this paper proposes a bi-level programming approach based on the Stackelberg game model. Solving the bi-level programming problem including the power flow equation for a DN model based on the IEEE 13-bus test feeder, we analyze the impact of the retailer and consumers on the voltage in the DN in order to account for transactions between these market players.

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“…(9) to (15) for residential loads, in Eqs. (9), (16), and (18) under constraints (11) to (15). (18), (19), and (11) to (15) for industrial loads.…”

Section: The Bi-level Programming Problemmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

See 1 more Smart Citation

Impact of Retailer and Consumer Behavior on Voltage in Distribution Network Under Liberalization of Electricity Retail Market

Sekizaki

Nishizaki

Hayashida

2015

Electrical Engineering Japan

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“…In particular, the analysis results show that day-ahead electricity market prices are determined by the speculative bidding price, which significantly exceeds marginal costs during periods of high demand. The authors have already clarified reasons for these results by using dynamic simulations [5].…”

Section: Introductionmentioning

confidence: 97%

Simulation on Bidding Strategy at Day-Ahead Market

Sawai

Sasaki

2014

Journal of Industrial Engineering

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In an electric power day-ahead market, market prices are not always cleared at marginal cost caused by the strategic bidding of generators. This paper presents the results of day-ahead market simulation by using a simple three-generation-companies’ model for the case of demand with price sensitivity and analysis of the profits depending upon bidding strategies. The results show that, without a demand response, generation companies with diverse generation can increase their profit by strategic bidding. Moreover, under this condition, even if the demand response is made sensitive, these characteristics do not change. It is clarified that one of these factors is the operating constraint of power generators. If the generation company’s low-cost power generators decrease, the company’s profit monotonically decreases as the speculated capacity increases. However, realizing this case requires an unreal demand response and many small companies without diverse generation. Unless the conditions above are satisfied, the wholesale power transactions only through a day-ahead market without price-sensitive demand mechanisms would create a sellers' market, where the sellers can easily manipulate the price.

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An Impact of Retailer and Consumer's Behavior on Voltage in Distribution Network under Liberalization of Electricity Retail Market

2014

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Study on Bidding Strategy and Market Clearing Price in Electric Power Day-ahead Market using Market Simulation

Cited by 3 publications

References 5 publications

Impact of Retailer and Consumer Behavior on Voltage in Distribution Network Under Liberalization of Electricity Retail Market

Impact of Retailer and Consumer Behavior on Voltage in Distribution Network Under Liberalization of Electricity Retail Market

Simulation on Bidding Strategy at Day-Ahead Market

An Impact of Retailer and Consumer's Behavior on Voltage in Distribution Network under Liberalization of Electricity Retail Market

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