Probabilistic bidding strategy for wind electricity generation

Probabilistic bidding strategy for wind electricity generation

The generation companies require a good bidding strategy in order to succeed in competitive power markets. For wind power plants, the available generation capacity is uncertain as it depends on the wind velocity. This introduces additional difficulty in the bidding task. In this thesis, a new probab...

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Bibliographic Details
Main Author: Lau, Zhao Zhi.
Other Authors: Govinda Bol Shrestha
Format: Final Year Project
Language:English
Published: 2011
Subjects:
DRNTU::Engineering::Electrical and electronic engineering::Electric power::Auxiliaries, applications and electric industries
Online Access:http://hdl.handle.net/10356/45617
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Institution: Nanyang Technological University
Language: English
Description
Summary:The generation companies require a good bidding strategy in order to succeed in competitive power markets. For wind power plants, the available generation capacity is uncertain as it depends on the wind velocity. This introduces additional difficulty in the bidding task. In this thesis, a new probabilistic strategy for wind generation companies is determined based on the historical electrical price models and the historical wind speed data.

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