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Article: Conceptual study on applying optimal control theory for generator bidding in power markets

TitleConceptual study on applying optimal control theory for generator bidding in power markets
Authors
KeywordsBidding
Nonlinear periodic system
Optimal control
Power markets
Sensitivity analysis
Issue Date2005
Citation
Dianli Xitong Zidonghua/Automation Of Electric Power Systems, 2005, v. 29 n. 12, p. 1-6 How to Cite?
AbstractGenerator strategic bidding problem in deregulated power markets has been well studied, but the common drawback is that all of them only consider the generators' myopic behavior. Considering the market dynamics and generators' long-term optimization behavior, this paper presents a conceptual and pioneer study on applying the optimal control theory for the generator bidding in power markets. In particular, the system demand is treated as a periodic function, and the generator bidding process is modeled as a dynamic, nonlinear and feedback system, where the market clearing price is the feedback signal. After that, it is assumed that one supplier will make the long term optimization, then its output is taken as the system control variable, and other generators' outputs are taken as the system state variables, and the market clearing price is the system output. Doing so, a standard optimal control problem is obtained, and a software package MISERS is used for numerically solving it. The performance of optimal control is studied, and a complete sensitivity analysis of system parameters is given with some interesting conclusions obtained.
Persistent Identifierhttp://hdl.handle.net/10722/73851
ISSN
2015 SCImago Journal Rankings: 0.772
References

 

DC FieldValueLanguage
dc.contributor.authorLiu, YFen_HK
dc.contributor.authorWu, FFen_HK
dc.contributor.authorTeo, KLen_HK
dc.date.accessioned2010-09-06T06:55:22Z-
dc.date.available2010-09-06T06:55:22Z-
dc.date.issued2005en_HK
dc.identifier.citationDianli Xitong Zidonghua/Automation Of Electric Power Systems, 2005, v. 29 n. 12, p. 1-6en_HK
dc.identifier.issn1000-1026en_HK
dc.identifier.urihttp://hdl.handle.net/10722/73851-
dc.description.abstractGenerator strategic bidding problem in deregulated power markets has been well studied, but the common drawback is that all of them only consider the generators' myopic behavior. Considering the market dynamics and generators' long-term optimization behavior, this paper presents a conceptual and pioneer study on applying the optimal control theory for the generator bidding in power markets. In particular, the system demand is treated as a periodic function, and the generator bidding process is modeled as a dynamic, nonlinear and feedback system, where the market clearing price is the feedback signal. After that, it is assumed that one supplier will make the long term optimization, then its output is taken as the system control variable, and other generators' outputs are taken as the system state variables, and the market clearing price is the system output. Doing so, a standard optimal control problem is obtained, and a software package MISERS is used for numerically solving it. The performance of optimal control is studied, and a complete sensitivity analysis of system parameters is given with some interesting conclusions obtained.en_HK
dc.languageengen_HK
dc.relation.ispartofDianli Xitong Zidonghua/Automation of Electric Power Systemsen_HK
dc.subjectBiddingen_HK
dc.subjectNonlinear periodic systemen_HK
dc.subjectOptimal controlen_HK
dc.subjectPower marketsen_HK
dc.subjectSensitivity analysisen_HK
dc.titleConceptual study on applying optimal control theory for generator bidding in power marketsen_HK
dc.typeArticleen_HK
dc.identifier.emailWu, FF: ffwu@eee.hku.hken_HK
dc.identifier.authorityWu, FF=rp00194en_HK
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.scopuseid_2-s2.0-22344447525en_HK
dc.identifier.hkuros101556en_HK
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-22344447525&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume29en_HK
dc.identifier.issue12en_HK
dc.identifier.spage1en_HK
dc.identifier.epage6en_HK
dc.publisher.placeChinaen_HK
dc.identifier.scopusauthoridLiu, YF=22835324100en_HK
dc.identifier.scopusauthoridWu, FF=7403465107en_HK
dc.identifier.scopusauthoridTeo, KL=35569785000en_HK

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