A Study on Supplier's Bidding Strategies including Operating Reserve inan Electricity Market

발전 예비력을 포함한 전력시장에서의 공급자 입찰전략 연구

In an electricity market with an imperfect competition, participants make plans of biddings and transaction strategies to maximize their own profits. The market price and the quantity are concerned with the operation reserve as well as the bidding system and demand curves in an electricity market. This paper presents a model of the combined market , energy market and operating teserve market. The Nash equilibrium is analyzed by using a hi-level optimization , maximization of Social welfare (SW) and maximization of the producers' profits.