The Modeling of Dynamic Optimal Bidding in Electricity Market of Iran

Abstract: The main goal of this paper is to modeling of producers’ strategic suggestions for each electricity manufacturer in an oligopolistic structure. According to the proposed structure of the electricity market modeling; this paper uses a dynamic model based on cournot equilibrium. Due to the large volume of required information, the implementation of the model is limited to a regional electricity market and the model is be implemented in such as a way to compare the results for low, medium and peak load consumption. Market actors in the research are active power plants in Isfahan electricity region and MATLAB software has been used for solving the model. The empirical results of model with the actual behavior of actors in selected hours have been compared and finally by comparing the actual behavior of actors with the results of the simulation model, the analysis and results are presented. Accordingly it is clear that the producers did not use cournot strategy. Although the proposed strategy can be more profitable for them.