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Optimal Demand-Side Bidding Strategies in Electricity Spot Markets

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4 Author(s)
Herranz, R. ; Inst. de Investig. Tecnol. (IIT), Univ. Pontificia Comillas, Madrid, Spain ; Munoz San Roque, A. ; Villar, J. ; Campos, F.A.

This paper proposes a methodology for determining the optimal bidding strategy of a retailer who supplies electricity to end-users in the short-term electricity market. The aim is to minimize the cost of purchasing energy in the sequence of trading opportunities that provide the day-ahead and intraday markets. A genetic algorithm has been designed to optimize the parameters that define the best purchasing strategy. The proposed methodology has been tested using real data from the Spanish day-ahead and intraday markets over a period of two years with a significant cost reduction with respect to trading solely in the day-ahead market.

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Power Systems, IEEE Transactions on  (Volume:27 ,  Issue: 3 )