Electricity market strategy characterisation with fuzzy logic : application to different types of power plants

Tools

Massucco, S. and Meini, L. and Silvestro, F. and Burt, G.M. and Galloway, S.J. and McDonald, J.R. and Siewierski, T.; (2004) Electricity market strategy characterisation with fuzzy logic : application to different types of power plants. In: Probabilistic methods applied to power systems. IEEE, USA, pp. 356-361. ISBN 0976131919

Full text not available in this repository.Request a copy

Abstract

In the last decade many countries have gone through liberalisation of their electricity industries. In many instances this has seen a move towards increased competition with market forces left to determine price. The resultant changes to market structure affect both electricity market participation and the operation of the power systems requiring a whole range of new issues to be addressed. This paper proposes an electricity market oriented tool that creates bidding strategies in a competitive market environment by combining fuzzy logic and deterministic approaches. In this way the technical, economic and behavioural decision making process Of 2 generation based market participant is considered. The proposed model can be accommodated by both a Power Exchange and a Balancing Market The results obtained for different types of plants have been compared with actual market results for a representative Combined Cycle Gas Turbine Plant (CCGT).

ORCID iDs

Massucco, S., Meini, L., Silvestro, F., Burt, G.M. ORCID logoORCID: https://orcid.org/0000-0002-0315-5919, Galloway, S.J. ORCID logoORCID: https://orcid.org/0000-0003-1978-993X, McDonald, J.R. ORCID logoORCID: https://orcid.org/0000-0002-7078-845X and Siewierski, T.;
CORE (COnnecting REpositories)