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- Title
OPTIMAL OFFER CONSTRUCTION IN ELECTRICITY MARKETS.
- Authors
Anderson, E. J.; Philpott, A. B.
- Abstract
In this paper we study strategies for generators making offers into electricity markets in circumstances where both the demand for electricity and the behaviour of competing generators is unknown but can be represented by a probability distribution. Given this probability distribution, we derive necessary optimality conditions for a broad class of supply offer curves. We show how these conditions can be used to construct an optimal solution for a simple example. We also consider the case in which a generator is restricted in the number of prices at which power can be offered.
- Subjects
ELECTRIC generators; DISTRIBUTION (Probability theory); ELECTRICITY; ELECTRIC power production; SUPPLY &; demand; PRICES
- Publication
Mathematics of Operations Research, 2002, Vol 27, Issue 1, p82
- ISSN
0364-765X
- Publication type
Article
- DOI
10.1287/moor.27.1.82.338