Research on bidding strategy for an independent power plant

The emerging electricity market of imperfect competition makes it possible for each power supplier to gain more profits through strategic bidding. Through analyzing the relation between the clearing results and the coefficients of generator's bidding strategy, an optimization bidding strategy for single generator's is presented and an optimal adjusting method is obtained when generator's output exceeds its power generation limits. An iterative method is applied to clear market and the coefficients of plant's bidding strategy are got. For generators belonging to the same plant, the paper puts forward an optimized and combined bidding strategy model. Some examples are used to illustrate the feasibility of the proposed method and the results indicate that the bidding strategy of this paper can make independent power plant gain maximum profits in market competition environment.