The market clearing prices in deregulated electricity markets are volatile. Good market clearing price forecasting will help producers and consumers to prepare their corresponding bidding strategies so as to maximize their profits. Market clearing price prediction is a difficult task since bidding strategies used by market participants are complicated and various uncertainties interact in an in...

As a part of the day-ahead market clearing process, Midcontinent Independent System Operator (MISO) solves one of the largest and most challenging Security Constrained Unit Commitment (SCUC) models. Better computational performance of SCUC models not only improves the market efficiency but also facilitates future market development. This paper introduces two developments on Mixed Integer Progra...

As part of the day-ahead market clearing process, MISO solves one of the most challenging Security Constrained Unit Commitment (SCUC) models. This paper introduces several developments on MIP SCUC formulation that result in significant performance improvement. Numerical results based on MISO data are presented. Index Terms – Electricity market, mixed integer programming, security constrained un...

An important goal of China’s electric power system reform is to create a double-side day-ahead wholesale electricity market in the future, where the suppliers (represented by GenCOs) and demanders (represented by DisCOs) compete simultaneously with each other in one market. Therefore, modeling and simulating the dynamic bidding process and the equilibrium in the double-side day-ahead electricit...

Virtual bids were introduced in U.S. wholesale electricity markets to exploit arbitrage opportunities arising from expected price differences between day-ahead and real-time energy markets. These financial instruments have interactions with other elements of the electricity market design. For instance, virtual bids could affect day-ahead market-clearing prices so as to enhance the value of Fina...

For electricity market participants trading in sequential markets with differences in price levels and risk exposure, coordinated bidding is highly relevant. We consider a Nordic power producer who engages in the day-ahead spot market and the near real-time balancing market. In both markets, clearing prices and dispatched volumes are unknown at the time of bidding. However, in the balancing mar...

To make full use of the flexible charging and discharging capabilities of the growing number of electric vehicles (EVs), a bidding strategy for EV aggregators to participate in a day-ahead electricity energy market is proposed in this work. The proposed bidding strategy is able to reduce the operating cost of the EV aggregators and to handle the uncertainties of day-ahead market prices properly...