NDLI: Strategic Bidding for Minimum Power Output in the Competitive Power Market

Content Provider	IEEE Xplore Digital Library
Author	Shrestha, G. B. Kai, S. Goel, L.
Copyright Year	1981
Abstract	As deregulation of the power industry is becoming a reality, there has been an intense interest in the strategic bidding for suppliers to optimize their benefits. The benefit gained by a supplier is related not only to its energy-price bid curve but also to its submitted operational parameters such as minimum output, etc. This is especially so when market size is limited because of a limited number of competitors in the market itself or due to the transmission capacity constraints. This paper addresses the study of strategic bidding for minimum output in a deregulated environment. The impact of minimum output bids on the market result is analyzed. A criterion with regard to minimum output bid to assess the outcome of competition among suppliers is derived. The method to optimize the benefit from a supplier's viewpoint by adjusting the bids for the minimum output and price is proposed. It is shown that an individual supplier can optimize its own benefit by fine-tuning its minimum output and price when there are only a few suppliers dominating the market. A fairly thorough theoretical analysis of the bidding for minimum output is illustrated with a numerical example.
Starting Page	61
Ending Page	62
Page Count	2
File Size	698754
File Format	PDF
ISSN	02721724
Volume Number	21
Issue Number	10
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2001-10-01
Publisher Place	U.S.A.
Access Restriction	Subscribed
Rights Holder	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subject Keyword	Power markets Costs Power system security Power generation economics Economic forecasting Fuel economy Neural networks Power system economics Voltage Power generation power market Strategic bidding minimum output
Content Type	Text
Resource Type	Article
Subject	Electrical and Electronic Engineering

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1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
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3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
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