Long-term allocating strategy of power generators

Power generator is one of the participants in a power market, who can select different ways to trade electric energy. Generator can sell energy in bilateral market and day-ahead auction market including the spot energy market and ancillary service market. Therefore they are confronted with a new problem: how to allocate their limited power to the markets in order to maximize their benefit while reducing the related risk. With a consideration of unit operation constraints and the market risk, a long-term trading model is presented. The optimal allocating strategies of generators with distinct risk-preference can be achieved through solving the problem with genetic algorithm under the same market conditions, at the same time the optimal allocating strategies of one generator with different market conditions can be developed. This paper can be used to analyze the allocating strategies quantitatively and provides the criterion for generators' allocating decision.