Chandarasupsang, T. and Galloway, S.J. and Burt, G.M. and McDonald, J.R. and Siewierski, T. (2007) Bidding behaviour and electricity market simulation. European Transactions on Electrical Power, 17 (4). pp. 333-346. ISSN 1430-144X
Full text not available in this repository. (Request a copy from the Strathclyde author)Abstract
To trade effectively and profitably in new electricity market structures, participants need to identify how best to use information available to them. In many cases only incomplete information will be available for short-term planning, trading and decision-making. This paper simulates a group of generators who adapt bidding behaviours in different segments of liberalised electricity markets based on historic market information, observed strategies and their view of other market participants. Results show that even in the incomplete information case efficient bidding strategy for market participants can be identified. Specifically, this paper presents some key findings from an active electricity market and utilises them within an electricity market simulation. The benefit of market simulation for participants is identified and reported.
| Item type: | Article |
|---|---|
| ID code: | 11349 |
| Keywords: | bidding behaviour, decision making, electricity market, electricity market simulator, Electrical engineering. Electronics Nuclear engineering |
| Subjects: | Technology > Electrical engineering. Electronics Nuclear engineering |
| Department: | Faculty of Engineering > Electronic and Electrical Engineering Professional Services > Corporate Services Directorate |
| Related URLs: | |
| Depositing user: | Strathprints Administrator |
| Date Deposited: | 16 Nov 2011 11:27 |
| Last modified: | 04 Oct 2012 12:35 |
| URI: | http://strathprints.strath.ac.uk/id/eprint/11349 |
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