Design a Market Simulation Based Thermal Generator Bidding Process in Power Spot Market

Power spot market had been taken place in several provinces in China. Bidding decision of thermal generator is one of the most important tasks for generation company among all market transaction processes. In the paper, a market simulation base bidding process is designed. A market simulation model is proposed to mimic the clearing of actual power spot market. Security constrained unit commitment and economic dispatch model is used in the market simulation to optimize the generation schedule and locational marginal price is calculated. Based on forecasts of market price and generation schedule, economic performance of the thermal generator can be predicted and bid decision can be drawn based on the economic performance. In the end, a case study based on the actual market data is performed to demonstrate the effectiveness of the proposed process.