Multiobjective environmental/techno-economic approach for strategic bidding in energy markets

V. Vahidinasab and S. Jadid

Applied Energy, 2009, vol. 86, issue 4, 496-504

Abstract: This paper describes a method for developing optimal bidding strategy based on a bilevel optimization, considering suppliers' emission of pollutants. The proposed methodology employs supply function equilibrium (SFE) model to represent the strategic behavior of each supplier. Locational marginal pricing mechanism is also assumed for settling the market and calculating the supplier profit. It is modeled as a bilevel optimization problem in which the upper-level subproblem maximizes individual supplier payoff and the lower-level subproblem solves the Independent System Operator's market clearing problem. In this paper, the multiobjective optimal power flow is used to solve market clearing mechanism with supplier emission of pollutants, as extra objectives, subject to the transmission limits and supplier physical constraints. To illustrate the proposed approach under different conditions an IEEE 30-bus test system together with a number of case studies are used.

Keywords: Electricity; market; Bidding; strategy; Multiobjective; optimization; Pollution; control; Supply; function; equilibrium (search for similar items in EconPapers)
Date: 2009
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (19)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0306-2619(08)00206-7
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:appene:v:86:y:2009:i:4:p:496-504

Ordering information: This journal article can be ordered from
http://www.elsevier.com/wps/find/journaldescription.cws_home/405891/bibliographic
http://www.elsevier. ... 405891/bibliographic

Access Statistics for this article

Applied Energy is currently edited by J. Yan

More articles in Applied Energy from Elsevier
Bibliographic data for series maintained by Catherine Liu ().