Muñoz, A.

doi:10.1109/TPWRS.2012.2185960

Title:

Optimal demand-side bidding strategies in electricity spot markets

Authors:

R. Herranz , A. Muñoz , J. Villar , F.A. Campos

Keywords:

Electricity markets, genetic algorithms, strategic bidding.

Research topics

*Medium-term tactical planning
*Modeling, simulation and optimization

Abstract:

This paper proposes a methodology for determining the optimal bidding strategy of a retailer who supplies electricity to end-users in the short-term electricity market. The aim is to minimize the cost of purchasing energy in the sequence of trading opportunities that provide the day-ahead and intraday markets. A genetic algorithm has been designed to optimize the parameters that define the best purchasing strategy. The proposed methodology has been tested using real data from the Spanish day-ahead and intraday markets over a period of two years with a significant cost reduction with respect to trading solely in the day-ahead market.

Reference:

IEEE Transactions on Power Systems
Volume: 27 Number: 3 Pages: 1204-1213

Publication date:

August 2012

DOI reference: