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In Day-Ahead (DA) electricity markets, Generating Companies (Gencos) aim to maximize their profit by bidding optimally, under incomplete information of the competitors. This paper develops an optimal bidding strategy for 24 hourly markets over a day, for a multi-unit thermal Genco. Different fuel type units are considered and the problem has been developed for maximization of cumulative profit. Uncertain...
Demand response (DR) can provide sufficient measure, if implemented successfully, to provide economic, secure and stable supply to the customers even under the variability of the generated output from renewable energy source such as wind and solar. However, there are several issues to be analyzed before DR implementation. This paper critically examines the present practices of the DR in the various...
An adaptive wavelet neural network (AWNN)-based method has been proposed to determine dynamic available transfer capability (DATC) in the electricity markets, having bilateral as well as multilateral contracts. Mexican hat wavelet basis function has been used as the activation function in the hidden layer of the network. Wavelet parameters, that is, translations and dilations of the AWNN, have been...
An accurate and efficient Short-Term Load Forecasting (STLF) plays a vital role for economic operational planning of both regulated power systems and electricity markets. Therefore, many techniques and approaches for STLF problem have been presented in the literature. However, there is still an essential need to develop more accurate load forecast method. This paper presents the application of artificial...
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