Volume 9, Issue 1 (March 2013)                   IJEEE 2013, 9(1): 36-43 | Back to browse issues page

XML Print

Download citation:
BibTeX | RIS | EndNote | Medlars | ProCite | Reference Manager | RefWorks
Send citation to:

Rajabi Mashhadi H, Khorasani J. Price-takers’ bidding strategies in joint energy and spinning reserve pay-as-bid markets. IJEEE. 2013; 9 (1) :36-43
URL: http://ijeee.iust.ac.ir/article-1-505-en.html
Abstract:   (4080 Views)
Strategic bidding in joint energy and spinning reserve markets is a challenging task from the viewpoint of generation companies (GenCos). In this paper, the interaction between energy and spinning reserve markets is modeled considering a joint probability density function for the prices of these markets. Considering pay-as-bid pricing mechanism, the bidding problem is formulated and solved as a classic optimization problem. The results show that the contribution of a GenCo in each market strongly depends on its production cost and its level of risk-aversion. Furthermore, if reserve bid acceptance is considered subjected to winning in the energy market, it can affect the strategic bidding behavior.
Full-Text [PDF 1076 kb]   (2285 Downloads)    
Type of Study: Research Paper | Subject: Electricity Markets and Regulation
Received: 2012/05/20 | Accepted: 2013/03/18 | Published: 2013/03/18

Creative Commons License
© 2019 by the authors. Licensee IUST, Tehran, Iran. This is an open access journal distributed under the terms and conditions of the Creative Commons Attribution-NonCommercial 4.0 International (CC BY-NC 4.0) license.