Optimal Demand-Side Bidding Strategies in Electricity Spot Markets
- 2 March 2012
- journal article
- Published by Institute of Electrical and Electronics Engineers (IEEE) in IEEE Transactions on Power Systems
- Vol. 27 (3), 1204-1213
- https://doi.org/10.1109/tpwrs.2012.2185960
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.Keywords
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