Journal article
Strategic Bidding for a Large Consumer
Johns Hopkins Univ., Baltimore, MD, USA1
Ohio State Univ., Columbus, OH, USA2
Univ. Carlos III de Madrid, Leganés, Spain3
The smart grid technology enables an increasing level of responsiveness on the demand side, facilitating demand serving entities-large consumers and retailers-to procure their electricity needs under the best conditions. Such entities generally exhibit a proactive role in the pool, seeking to procure their energy needs at minimum cost.
Within this framework, we propose a mathematical model to help large consumers to derive bidding strategies to alter pool prices to their own benefit. Representing the uncertainty involved, we develop a stochastic complementarity model to derive bidding curves, and show the advantages of such bidding scheme with respect to non-strategic ones.
Language: | English |
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Publisher: | IEEE |
Year: | 2015 |
Pages: | 848-856 |
ISSN: | 15580679 and 08858950 |
Types: | Journal article |
DOI: | 10.1109/TPWRS.2014.2332540 |