Daily bidding is an activity of paramount importance for generation companies operating in day-ahead electricity markets. The authors have developed a strategic bidding procedure based on strochastic programming to obtain optimal bids. In this paper the problem is decomposed under the Benders framework to permit the solution of large-size problems. A numerical example illustrates the advantages of the proposed approach.
Keywords: Competitive electricity market, decomposition techniques, generation scheduling, strategic bidding
IEEE Power Tech. Conference
Publication date: September 2001.
Á. Baíllo, M. Ventosa, M. Rivier, A. Ramos, Strategic bidding in a competitive electricity market: A decomposition approach, IEEE Power Tech. Conference. ISBN: 0-7803-7139-9, Oporto, Portugal, 10-13 September 2001