Subscribe Now Subscribe Today
Science Alert
 
Blue
   
Curve Top
Journal of Applied Sciences
  Year: 2009 | Volume: 9 | Issue: 12 | Page No.: 2218-2227
DOI: 10.3923/jas.2009.2218.2227
 
Facebook Twitter Digg Reddit Linkedin StumbleUpon E-mail

Optimal Bidding Strategy of Power Generating Companies with Consideration of Load Forecast Uncertainty

S. Akbari, M. Kabiri and N. Amjady

Abstract:
This study presents a new method for calculating the optimal bidding strategies among Generating Companies (GENCOs) in the electricity markets with the assumptions of imperfect competition and complete information and with consideration of uncertainty in load forecast. The parameterized Supply Function Equilibrium (SFE) is employed for modeling the imperfect competition among GENCOs in which proportionate parameterization of the sole and the intercept is used. A pay-as-LMP pricing mechanism is assumed for settling the market and calculating the GENCOs’ profits. The fuzzy approach is utilized for modeling the uncertainty of load forecast and the result is compared with probabilistic approach. A nine GENCOs test system is used to show the efficiency of the proposed method.
PDF Fulltext XML References Citation Report Citation
How to cite this article:

S. Akbari, M. Kabiri and N. Amjady, 2009. Optimal Bidding Strategy of Power Generating Companies with Consideration of Load Forecast Uncertainty. Journal of Applied Sciences, 9: 2218-2227.

DOI: 10.3923/jas.2009.2218.2227

URL: https://scialert.net/abstract/?doi=jas.2009.2218.2227

COMMENT ON THIS PAPER
 
 
 

 

 
 
 
 
 
 
 
 
 

 
 
 
 
 
 
 

Curve Bottom