Pumped-Storage Hydro-Turbine Bidding Strategies in a Competitive Electricity Market
- 4 May 2004
- journal article
- Published by Institute of Electrical and Electronics Engineers (IEEE) in IEEE Transactions on Power Systems
- Vol. 19 (2), 834-841
- https://doi.org/10.1109/tpwrs.2004.825911
Abstract
This paper develops optimal pumped-storage unit bidding strategies in a competitive electricity market. Starting from a weekly forecasted market clearing price curve, an algorithm to maximize the profit of a pumped-storage unit considering reserve bids is developed. A comparison between the optimal bidding strategy and a fixed-schedule weekly generating and pumping strategy is provided.Keywords
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