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Fuzzy model of generator bidding system in competitive electricity markets

Widjaja, Moeljono and Sugianto, L.F. and Morrison, R.E. (2002) Fuzzy model of generator bidding system in competitive electricity markets. 10th IEEE International Conference on Fuzzy Systems. (Cat. No.01CH37297).

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Official URL: https://ieeexplore.ieee.org/abstract/document/1008...

Abstract

The deregulation of the electricity industry has prompted a wide interest, especially among generation companies, in developing optimum bidding strategies in order to maximize profits. The paper presents an approach to strategic bidding using a fuzzy methodology that is able to handle uncertainty in market parameters such as load demand, generator bid, power dispatch, price, cost, revenue and profit. A multi-level fuzzy system is developed to model a generator bidding system. This system is able to extract market behaviors from historical market data, and is used to calculate optimum bid multipliers. The optimum bid multipliers are tested on a simplified electricity market model, namely a four-generator two-bus system. The results show that the proposed fuzzy approach is effective in formulating optimum bids for generators.

Item Type: Article
Subjects: 000 Computer Science, Information and General Works > 000 Computer Science, Knowledge and Systems > 006 Special Computer Methods (Artificial Intelligence, Machine Learning, 3D Graphics, Digital Video, Data Mining, Augmented Reality)
500 Science and Mathematic > 510 Mathematics > 519 Probabilities and Applied Mathematics
500 Science and Mathematic > 530 Physics > 537 Electricity and Electronics
Divisions: Fakultas Teknik Informatika > Program Studi Informatika
Depositing User: mr admin umn
Date Deposited: 15 Oct 2021 08:45
Last Modified: 15 Oct 2021 08:45
URI: http://kc.umn.ac.id/id/eprint/18820

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