Optimal Bidding Strategy in Deregulated Environment
نویسندگان
چکیده
In this paper, particle swarm optimization algorithm is proposed to determine the optimal bidding strategy in competitive auction market. The market includes generating companies (Gencos), large consumers who participate in demand side bidding, and small consumers whose demand is present in aggregate form. By using previous bidding data and multi-round auction process, the optimal bidding strategy for both Gencos and large consumers is obtained. Test results indicate that the proposed algorithm converge much faster and more reliable than Monte Carlo Simulation algorithm.
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