Bidding strategies for price-taker distributed gencos in competitive electricity markets

• Main Author: Qiao, Songbo
• Other Authors: Govinda Bol Shrestha
• Format: Theses and Dissertations
• Language: English
• Published: 2013
• Subjects: DRNTU::Engineering
• Online Access: http://hdl.handle.net/10356/52517
• Institution: Nanyang Technological University

Two recent major developments in electric power industry are i) the establishment of competitive power markets and ii) the continuing trend of integrating the renewable sources of energy, particularly wind generation. As a result, the small non-conventional generation is rapidly growing as new added generation capacities. However, these generators will have to confront a number of challenges, notably uncertainties both in terms of their available capacity as well as electricity price in the competitive market, significant high capital investment alternative energy sources and the market regulations which are still evolving. Therefore new suitable bidding strategies are of significant importance for them to participate in the market which will keep them to recover the costs and maximize their financial benefits. In this thesis, various aspects of bidding approaches for these distributed price-taker generators are identified, investigated and developed in the context of different market policies, different market structures, and for different sources of energy.