Optimal Bidding And Power Trading In Deregulated Electricity Market Using Heuristic Optimization Techniques

Abstract

Restructuring in electric power industry (EPI) has become an evolution in bringing significant changes in power system operation, planning and energy trading. It imparts competitiveness and open trading environment for the participants as the deregulation introduces more number of utilities. The energy market follows an oligopolistic behaviour instead of being purely competitive, as it has less number of suppliers and buyers. So bidding strategy process is followed by utilities individually to maximize their profit. This profit maximization mainly relies on market clearing price (MCP) which is determined by employing proper bidding strategy. In this thesis, bidding strategy has been made with and without integrating renewable generating utilities (RGU). In single-sided bidding (SSB) market, bidding strategy has been made for generating utilities (GU) and in double-sided bidding (DSB) market it is made for both GU and large buyers (LB) that maximizes their profit. In addition to this, bidding strategy and power trading have been done for a grid-connected micro-grid (MG) in a day-ahead energy market (DAEM) for profit maximization and operating cost minimization respectively. newline