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Pumped-storage hydro-turbine bidding strategies in a competitive electricity market

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3 Author(s)
Ning Lu ; Energy Sci. & Technol. Div., Pacific Northwest Nat. Lab., Richland, WA, USA ; Chow, J.H. ; Desrochers, A.A.

This paper develops optimal pumped-storage unit bidding strategies in a competitive electricity market. Starting from a weekly forecasted market clearing price curve, an algorithm to maximize the profit of a pumped-storage unit considering reserve bids is developed. A comparison between the optimal bidding strategy and a fixed-schedule weekly generating and pumping strategy is provided.

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Power Systems, IEEE Transactions on  (Volume:19 ,  Issue: 2 )