Computer Engineering Commons^™

Optimal Bidding Strategy Of A Strategic Wind Power Producer In The Short-Term Market, Ting Dai, Wei Qiao

Department of Electrical and Computer Engineering: Faculty Publications

Wind energy is a clean and renewable energy source which is rapidly growing globally. As the penetration level of wind power grows, the system operators need to consider wind power producers as strategic producers whose bidding behaviors will have an impact on the locational marginal prices. This paper proposes a bilevel stochastic optimization model to obtain the optimal bidding strategy for a strategic wind power producer in the short-term electricity market. The upper level problem of the model maximizes the profit of the wind power producer, while the lower level problem represents the market clearing processes of both day-ahead and …