The Study On Bidding Strategies Of Generation Companies Based On Optimization Methods

Along with the intensifying of the electricity market reform, the research on bidding strategies of generation companies will become more significant. Many scholars have done a lot of research. In this paper, based on previous work, particle swarm optimization (PSO) and modified PSO algorithm are proposed to deal with bidding strategies of generation companies. In the course of the optimization procedure, considering costs and market clearing price, makes the selected generators bidding strategies conform to the interests of the generation companies and more reasonable. Finally, some examples are used to illustrate the feasibility of the proposed method and show that the new algorithm can greatly improve the global convergence ability and enhance the rate of convergence.