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Paper Information

Journal:   JOURNAL OF MODELING IN ENGINEERING   SPRING 2011 , Volume 9 , Number 24; Page(s) 21 To 29.
 
Paper: 

OPTIMUM STOCHASTIC SELF-SCHEDULING FOR GENCOS CONSIDERING POOL AUCTION AND BILATERAL CONTRACTS

 
 
Author(s):  AMJADY N., VATANI B.*, SHARIFZADEH H.
 
* FACULTY OF ELECTRICAL & COMPUTER ENGINEERING, SEMNAN UNIVERSITY, SEMNAN, IRAN
 
Abstract: 

In this paper, in order to determine optimal bidding strategy of GENCOs, considering uncertainty of market price, a stochastic model is presented. For this purpose, a two-stage stochastic model is proposed in which energy prices are considered as uncertain parameters. Furthermore, for taking into account the practical conditions, the producers have been granted the opportunity to sell their productions both through bilateral contracts and participating in energy auctions. The producer's financial risk is also evaluated using the well-known CVaR criterion. The proposed model is implemented on a test system and the obtained results are analyzed. The simulation results show that the proposed model can simulate market behavior effectively, obtain optimal bidding strategy and propose proper market selection with the aim of profit maximization.

 
Keyword(s): ENERGY MARKET, BILATERAL CONTRACTS, STOCHASTIC SELF-SCHEDULING, FINANCIAL RISK, GENERATION COMPANIES
 
 
References: 
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Citations: 
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+ Click to Cite.
APA: Copy

AMJADY, N., & VATANI, B., & SHARIFZADEH, H. (2011). OPTIMUM STOCHASTIC SELF-SCHEDULING FOR GENCOS CONSIDERING POOL AUCTION AND BILATERAL CONTRACTS. JOURNAL OF MODELING IN ENGINEERING, 9(24), 21-29. https://www.sid.ir/en/journal/ViewPaper.aspx?id=277410



Vancouver: Copy

AMJADY N., VATANI B., SHARIFZADEH H.. OPTIMUM STOCHASTIC SELF-SCHEDULING FOR GENCOS CONSIDERING POOL AUCTION AND BILATERAL CONTRACTS. JOURNAL OF MODELING IN ENGINEERING. 2011 [cited 2021July26];9(24):21-29. Available from: https://www.sid.ir/en/journal/ViewPaper.aspx?id=277410



IEEE: Copy

AMJADY, N., VATANI, B., SHARIFZADEH, H., 2011. OPTIMUM STOCHASTIC SELF-SCHEDULING FOR GENCOS CONSIDERING POOL AUCTION AND BILATERAL CONTRACTS. JOURNAL OF MODELING IN ENGINEERING, [online] 9(24), pp.21-29. Available: https://www.sid.ir/en/journal/ViewPaper.aspx?id=277410.



 
 
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