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In electricity spot markets, revenue of independent power producers (IPPs) is dependent on successful bidding strategies. This research establishes a model for strategic bidding and short-term generation scheduling in reserve co-optimized markets like the Philippine Wholesale Electricity Spot Market. The model, which is applicable to independent power producers, is based on the combination of security...
This paper proposes security constrained economic power dispatch (SCED) of the generators in the presence of secure bilateral transactions for hybrid electricity markets. The proposed non-linear optimization problem considers simultaneous minimization of deviations from scheduled transactions and minimization of fuel cost of the generators. The impact of bilateral transactions on fuel costs of generators...
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