Browse > Article

A Study on the Supplier's Bidding Strategy Including Operating Reserve in an Electricity Market  

Lee Kwang-Ho (단국대 전기전자컴퓨터공학부)
Shin Jae-Hong (단국대 전기공학과)
Publication Information
The Transactions of the Korean Institute of Electrical Engineers A / v.54, no.4, 2005 , pp. 199-204 More about this Journal
Abstract
In an electricity market with an imperfect competition, participants make plans of bidding and transaction strategies to maximize their own profits. The market price and the quantity are concerned with the operation reserve as well as the bidding system and demand curves in an electricity market. This paper presents a market model combined by an energy market and an operating reserve market. The competition of the generation producers in the combined market is formulated as a gaming of selecting bid parameters such as intersections and slopes in bid functions. The Nash Equilibrium(NE) is analyzed by using a hi-level optimization; maximization of Social Welfare(SW) and maximization of the producers' profits.
Keywords
Citations & Related Records
Times Cited By KSCI : 1  (Citation Analysis)
연도 인용수 순위
1 Jose Manuel Arroyo, Antonio J. Conejo, 'Optimal Response of a Power Generator to Energy, AGC, and Reserve Pool-Based Markets,' IEEE Trans. on Power Systems, vol. 17, no. 2, pp. 404-410, May 2002   DOI   ScienceOn
2 D. Fudenberg, J. Tirole, Game Theory, The MIT Press, 1991
3 K.H. Lee and R. Baldick, 'Tuning of Discretization in Bimatrix Game Approach to Power System Market Analysis,' IEEE Trans. on Power System, Vol. 18, No. 2, pp. 830-836, May 2003   DOI   ScienceOn
4 Jin-Ho Kim, Jong-Bae Park, Jong-Keun Park, Balho H. Kim, 'A new game-theoretic framework for maintenance strategy analysis,' IEEE Trans. on Power Systems, Vol. 18, no. 2, pp. 698-706, May 2003   DOI   ScienceOn
5 Eric H. Allen, Marija D. Ilic, 'Reserve Markets for Power Systems Reliability,' IEEE Trans. on Power Systems, vol. 15, no. 1, pp. 228-233, Feb 2000   DOI   ScienceOn
6 Harry Singh, Alex Papalexopoulos, 'Competitive Procurement of Ancillary Services by in Independent system Operator,' IEEE Trans. on Power systems, vol. 14, no. 2, May 1999   DOI   ScienceOn
7 한국전력거래소, 전력시장운영규칙, http://www.kpx.or.kr
8 J. D. Webber and T. J. Overbye, 'A Two-level Optimization Problem for Analysis of Market Bidding Strategies,' IEEE PES Summer Meeting, Vol. 2. pp. 682-687, 1999   DOI
9 M. Shahidehpour, H. Yamin, Z. Li, Market operations in electric power system, John Wiley & Sons, 2002
10 이광호, '전력거래에서 제약조건이 고려된 내쉬균형점의 복합전략연구,' 전기학회논문지, 51A권 4호, pp. 196-201, 2002. 2   과학기술학회마을
11 C. A. Berry, B. f. Hobbs, W. A. Meroney, 'Analyzing Strategic Behavior in Transmission Network,' IEEE Press TP-130-0, pp. 7-32, 1999
12 M. Shahidehpour, M. Marwall, Maintenance Scheduling in Restructured Power Systems, Kluwer Academic Publishers, pp. 110-111, 2000
13 Steven Stoft, Power System Economics, IEEE Press, 2002
14 Gerald B. Sheble, Computational Auction Mechanisms for Restructured Power Industry Operation, Kluwer Academic Publishers, 1999