@inproceedings{1bbb963ffc314b60937335864e2c5f53,
title = "Multi-market bidding strategy considering probabilistic real time ancillary service deployment",
abstract = "Generation companies (GENCOs) are seeking for maximum economical profits in both energy and ancillary service markets. This paper proposes a methodology for obtaining the optimal bidding strategy for GENCOs in multiple electricity markets. Step-wise Supply function like bid curve with strategical bidding prices is used for the day-ahead multi-market auction. Probabilistic real time deployment of ancillary services is considered. Competition among GENCOs in such multi-market is modeled as a non-cooperative complete information game. A two-layer optimization problem is modeled, with the upper layer representing the GENCO's profit maximization subproblem and the lower layer representing the ISO's (Independent System Operator) simultaneous multi-market clearing subproblem. Illustrative examples show the advantages of considering probabilistic real time ancillary services deployment and simultaneously participating multi-market for a GENCO's profit seeking purpose.",
author = "Jie Li and Zuyi Li",
note = "Publisher Copyright: {\textcopyright} 2016 IEEE.; 2016 IEEE Electrical Power and Energy Conference, EPEC 2016 ; Conference date: 12-10-2016 Through 14-10-2016",
year = "2016",
month = dec,
day = "5",
doi = "10.1109/EPEC.2016.7771714",
language = "English (US)",
series = "2016 IEEE Electrical Power and Energy Conference, EPEC 2016",
publisher = "Institute of Electrical and Electronics Engineers Inc.",
booktitle = "2016 IEEE Electrical Power and Energy Conference, EPEC 2016",
address = "United States",
}