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Paper Title: A Literature Review on Bidding Strategy in a Deregulated Electricity Market
Authors Name: Satish Kumar Prasad , Mrs. Seema Pal
Unique Id: IJRTI1807033
Published In: Volume 3 Issue 7, July-2018
Abstract: In an open competitive electricity market generators (suppliers) and large consumers (buyers) need a suitable bidding strategy to maximize their own profit. Therefore, each generator (supplier) and large consumer (buyers) will have to bid strategically under incomplete information of other rival generators. This initiated a significant research effort by the researchers and practitioners in deregulated electricity market throughout the world. As a part of this, many authors have presented different methodologies and tools to solve the bidding strategy problem in a competitive electricity market. The purpose of this paper is to provide an overview of optimal bidding strategy for GENCOs and Large consumers in deregulated electricity market. This paper also presents a literature review based on optimal bidding strategy applied so far in the area of power system deregulation.
Keywords: Deregulated Electricity Market, Rivals, Oligopoly Market, Bidding Strategy, Market Clearing Price (MCP).
Cite Article: "A Literature Review on Bidding Strategy in a Deregulated Electricity Market", International Journal of Science & Engineering Development Research (www.ijrti.org), ISSN:2455-2631, Vol.3, Issue 7, page no.215 - 218, July-2018, Available :http://www.ijrti.org/papers/IJRTI1807033.pdf
Downloads: 00055
Publication Details: Published Paper ID: IJRTI1807033
Registration ID:180356
Published In: Volume 3 Issue 7, July-2018
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ISSN Number: 2456 - 3315
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