Risk-based optimal bidding strategy of generation company in day-ahead electricity market using information gap decision theory

摘要: This paper considers a price-taker generation company to participate in day-ahead electricity energy market. While making optimal bidding strategy for producer, factors such as the characteristics of generator and market price uncertainty need be considered because having direct impact on expected profit curve. The an uncertain variable it is assumed that forecasted prices. In this study, model based concept weighted average squared error using variance–covariance matrix. Information gap decision theory used develop company. It assesses robustness/opportunity face while producer whether risk-averse or risk-taking. shown risk-taking decisions might affect curve A case study illustrate proposed approach.