IET Generation, Transmission and Distribution, ( ISI ), Volume (6), No (1), Year (2012-1) , Pages (79-87)

Title : ( Bidding analysis in joint energy and spinning reserve markets based on pay-as-bid pricing )

Authors: Javid Khorasani , Habib Rajabi Mashhadi ,

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Owing to the interaction between energy and spinning reserve markets, designing proper bid functions and offering optimal prices to these markets is economically a challenging task from generation companies (GenCos) point of view, especially in the pay-as-bid pricing mechanism. A previously presented only-energy bidding method is generalised in order to model and solve a multimarket bidding problem. Considering a joint probability distribution function for energy and spinning reserve prices, the bidding problem is formulated and solved as a classic optimisation problem. The results show that the contribution of GenCos in each market strongly depends on their production costs, GenCo’s risk-aversion degree and the mean values of market prices.

Keywords

, Bidding analysis, joint market, energy market, spinning reserve market, pay-as-bid
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@article{paperid:1033341,
author = {Javid Khorasani and Rajabi Mashhadi, Habib},
title = {Bidding analysis in joint energy and spinning reserve markets based on pay-as-bid pricing},
journal = {IET Generation, Transmission and Distribution},
year = {2012},
volume = {6},
number = {1},
month = {January},
issn = {1751-8687},
pages = {79--87},
numpages = {8},
keywords = {Bidding analysis; joint market; energy market; spinning reserve market; pay-as-bid pricing},
}

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%0 Journal Article
%T Bidding analysis in joint energy and spinning reserve markets based on pay-as-bid pricing
%A Javid Khorasani
%A Rajabi Mashhadi, Habib
%J IET Generation, Transmission and Distribution
%@ 1751-8687
%D 2012

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