Sharif Digital Repository

Since 1980s the electricity market has been gradually evolving from a monopoly market into a liberalized one for encouraging competition and improving efficiency. This brings the opportunity for generation companies (Gencos) to make more profits while embracing more risks of not being dispatched. Therefore, it has become a core interest for the Gencos to develop optimal bidding strategies to maximize the profits and minimize the risks while participating in such a competitive market. Error of determining day-ahead electricity price is one of the sources of the risk. Energy price has a high impact on bidding strategy optimization process. So it should be determined with low error which is not... 

This research investigates the competitive behavior of producers in an oligopolistic market structure and presents new approaches to contrive appropriate bidding strategies using game theory. As a case of oligopolistic competition, we have considered a simplified model of electricity markets, and turned our focus to related economic models of competition. In particular, the supply function model has been adopted because of its realistic simulation of the bidding structure in electricity markets, for which, a new method is proposed to provides closed-form expressions in computing Nash strategies. This method is not only capable of computing all Nash equilibriums of the model, but also the... 

In this thesis، we consider bidding behavior of producers in wholesale electricity market in Iran. Participating in a day ahead pay-as-bid electricity auctions for Generator Companies with purpose of profit maximization in spite of market regulation constraints is taken into account. Since bidding functions are restricted to be evolved as a stepwise one with maximum of ten steps per unit in each hour، the main issue arise that whether increasing steps will improve the value of our objective function or not. Finally، in order to evaluate rationalities in bidding behavior of themarket participants، our results are compared with real bidding data combined for each power plant in a particular... 

In this research, the problem of bidding in the frequency regulation market, which is a subset of the ancillary services market , and equilibrium between multiple price maker participants has been studied.The Frequency Regulation Market system is considered to have a performance-based payment method, in which, in addition to the cost of the capacity provided by the energy producer, the cost of accuracy in following the signal generated by the network operator is paid.The details of the components of the frequency regulation market such as the AGC signal allocation mechanism and the dynamic model of energy production units have been investigated in this study.The effects of network and market... 

This Thesis presents a new approach for determining the day-ahead bidding strategies of a hybrid electric energy company. The company has both energy generation and energy retailing businesses in a competitive electricity market. Demand response programs are also considered in the retail side of the company in order to hedge the risk of participation in wholesale market. Price-taker and price maker companies are considered in this thesis separateky.For the price-taker hybrid structure, the predivtion of day-ahead prices are used to evaluate the optimum bidding and offering strategies. Also, day-ahead market price uncertainty is modeled, using non-probabilistic Information Gap Decision Theory... 

Virtual power plant (VPP) aggregates the capacity of many diverse distributed energy resources (DERs); it creates a single operating profile from a composite of the parameters characterizing each DER and can incorporate the impact of the network on aggregated DER output. In modern power systems, technical virtual power plants (TVPPs) play an important role enabling presence of DERs in electricity markets. This thesis addresses the optimal bidding strategy problem of a TVPP that participates in the day-ahead (DA) electricity market. TVPP schedules its energy resources in a manner that maximize its profit in DA market. Hence, the optimal schedule of its resources is achieved. In a proposed... 

Wind energy, as a type of renewable energy resource, is clean and is rapidly growing globally. The intermittency in the production of wind energy is the most major obstacle for these producers in a competitive electricity market, to compete with thermal units. Most existing models in the literature mitigate the risk of wind power, by coordinating them with energy storages such as pumped storages power plant. Here, in this thesis, another risk mitigation approach is introduced which combines wind energy and natural gas power plant in an electricity market. In addition, as the penetration level of wind power grows, the wind power producers must be considered as a price-maker player which their...