| Author | Nuttawich Khamsawasd |
| Call Number | AIT Thesis no.ET-10-03 |
| Subject(s) | Electricity--Marketing
|
| Note | A thesis submitted in partial fulfillment of the requirements for the Degree of Master of Engineering in Energy |
| Publisher | Asian Institute of Technology |
| Abstract | In a competitive electricity market, Generation companies (GenCos) generally face with uncertainties due to unexpected rivals' bidding behaviors and demand elasticity. This thesis proposes an optimal bidding strategy for a generation company (GenCo) in day-ahead spot market by particle swarm optimization with time-varying coefficients (PSO-TVAC). The proposed approach is composed of two optimization problems. The first problem is to maximize the expected profit for selling electricity to a spot market. The second problem is to minimize system cost based on dc optimal power flow (DCOPF) to provide locational marginal prices (LMPs) and power dispatching. Monte Carlo simulation is used to provide uncertain rivals' bidding behaviors. Participants from a demand side participate in a market in term of demand elasticity. The simulation results on the PJM 5-bus system show that different spot demands and the uncertainties from rivals and demand elasticity have impacts on a GenCo's bidding behavior. The uncertainties affect LMPs which have the impact on a GenCo's profit. The proposed approach could be a useful tool for electricity trading. |
| Year | 2010 |
| Type | Thesis |
| School | School of Environment, Resources, and Development (SERD) |
| Department | Department of Energy and Climate Change (Former title: Department of Energy, Environment, and Climate Change (DEECC)) |
| Academic Program/FoS | Energy Technology (ET) |
| Chairperson(s) | Weerakorn Ongsakul; |
| Examination Committee(s) | Marpaung, Charles O. P.;Singh, Jai Govind; |
| Scholarship Donor(s) | RTG Fellowship; |
| Degree | Thesis (M.Eng.) - Asian Institute of Technology, 2010 |