A Simulation Method for GENCOS’ Bidding Decision Based on Learning Algorithm

Abstract

Nowadays, China are undergoing a thoroughly power market reforming, so there are a lot of research on theory of electricity pricing and trading mechanism designing. Along with that, simulating the power market operation procedure and verify the effect of power market are also an important issue. To improve the precision of the simulation, one of the key work is to simulate the market participants’ behavior accurately. This paper presents a simulation method for GENCOS’ based on learning algorithm, which creates bidding decision models for GENCOS’ with different decision objectives and reflects the GENCOS’ bidding strategy improvement during the market operation.