Fuzzy model of generator bidding system in competitive electricity markets

Moeljono Widjaja, Ly Fie Sugianto, Robert Edward Morrison

Research output: Contribution to conferencePaper

16 Citations (Scopus)

Abstract

The deregulation of the electricity industry has prompted a wide interest, especially among generation companies, in developing optimum bidding strategies in order to maximize profits. This paper presents a novel approach to strategic bidding using fuzzy methodology that is able to handle uncertainty in market parameters such as load demand, generator bid, power dispatch, price, cost, revenue and profit. A multi-level fuzzy system is developed to model a generator bidding system. This system is able to extract market behaviors from historical market data, and is used to calculate optimum bid multipliers. The optimum bid multipliers are tested on a simplified electricity market model, namely a four-generator two-bus system. The results show that the proposed fuzzy approach is effective in formulating optimum bids for generators.

Original languageEnglish
Pages1396-1399
Number of pages4
Publication statusPublished - 1 Dec 2001
Event10th IEEE International Conference on Fuzzy Systems - Melbourne, Australia
Duration: 2 Dec 20015 Dec 2001

Conference

Conference10th IEEE International Conference on Fuzzy Systems
CountryAustralia
CityMelbourne
Period2/12/015/12/01

Keywords

  • Bidding strategy
  • Deregulation
  • Electricity market
  • Fuzzy logic
  • Fuzzy relations

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