Summary:
This paper proposes a methodology for determining the optimal bidding strategy of a retailer who supplies electricity to end-users in the short-term electricity market. The aim is to minimize the cost of purchasing energy in the sequence of trading opportunities that provide the day-ahead and intraday markets. A genetic algorithm has been designed to optimize the parameters that define the best purchasing strategy. The proposed methodology has been tested using real data from the Spanish day-ahead and intraday markets over a period of two years with a significant cost reduction with respect to trading solely in the day-ahead market.
Keywords: Electricity markets, genetic algorithms, strategic bidding.
JCR Impact Factor and WoS quartile: 2,921 - Q1 (2012); 6,600 - Q1 (2022)
DOI reference:
https://doi.org/10.1109/TPWRS.2012.2185960
Published on paper: August 2012.
Published on-line: March 2012.
Citation:
R. Herranz, A. Muñoz, J. Villar, F.A. Campos Optimal demand-side bidding strategies in electricity spot markets. IEEE Transactions on Power Systems. Vol. 27, nº. 3, pp. 1204 - 1213, August 2012. [Online: March 2012]
