Price-taker bidding strategy under price uncertainty

This paper provides a framework to obtain the optimal bidding strategy of a price-taker producer. An appropriate forecasting tool is used to estimate the probability density functions of next-day hourly market-clearing prices. This probabilistic information is used to formulate a self-scheduling pro...

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Veröffentlicht in:	IEEE transactions on power systems 2002-11, Vol.17 (4), p.1081-1088
Hauptverfasser:	Conejo, A.J., Nogales, F.J., Arroyo, J.M.
Format:	Artikel
Sprache:	eng
Schlagworte:	Cost function Covariance matrix Economic forecasting Electricity supply industry Estimates Information analysis Maximization Optimization Power generation Probability density function Probability density functions Probability theory Random variables Strategy Uncertainty Upper bound
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