Block bidding model based power market

The block bidding model is first proposed in the paper that overcomes some difficulties and deficiency of the hourly bidding model widely used in the present power market, which clears the market on hour by hour basis. Analysis in the paper illustrates that the major deficiencies of the hourly bidding model are: difficult and complicated for generation companies to bid; 2 typing and cross subsidies between generation companies. In contrast, the bidding model proposed horizontally divides the load curve into blocks according to the continuation time of the system load, and then clears the market on block by block basis, and finally obtains the spot price. Comparisons of the two kinds of bidding models show that the block bidding models is not only suitable for the generation companies to bid according to their costs, but also efficient for the power market to operate.