Competitive Strategic Bidding Optimization In Electricity Markets Using Bilevel Programming And Swarm Technique

Publisher:
Ieee-Inst Electrical Electronics Engineers Inc
Publication Type:
Journal Article
Citation:
Ieee Transactions On Industrial Electronics, 2011, 58 (6), pp. 2138 - 2146
Issue Date:
2011-01
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AbstractCompetitive strategic bidding optimization is now a key issue in electricity generator markets. Digital ecosystems provide a powerful technological foundation and support for the implementation of the optimization. This paper presents a new strategic bidding optimization technique which applies bilevel programming and swarm intelligence. In this paper, we first propose a general multileader-one-follower nonlinear bilevel (MLNB) optimization concept and related definitions based on the generalized Nash equilibrium. By analyzing the strategic bidding behavior of generating companies, we create a specific MLNB decision model for day-ahead electricity markets.
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