Bi-level Programming for Competitive Strategic Bidding Optimization in Electricity Markets

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Journal Article
Intelligent Systems Reference Library, 2015, 82 pp. 315 - 324
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© Springer-Verlag Berlin Heidelberg 2015. We focus on the application of bi-level programming in electricity markets (power market) in this chapter. Competitive strategic bidding optimization of electric power plants (companies) is becoming one of the key issues in electricity markets. This chapter presents a strategic bidding optimization technique developed by applying the bi-level programming. By analyzing the strategic bidding behavior of power plants, we understand that this bidding problem includes several power plants and only one market operator respectively known as multiple leaders and single follower.
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