MCP Simulation and its Impact in Electricity Market
Sumit Saroha1, Priti Prabhakar2
1Sumit Saroha, A. P. Electrical Engineering, Department of Printing Technology, Guru Jambheshwar University of Science & Technology, Hisar, 125001, India.
2Priti Prabhakar, A. P. Electrical Engineering, Department of Printing Technology, Guru Jambheshwar University of Science & Technology, Hisar, 125001, India.
Manuscript received on 22 August 2019. | Revised Manuscript received on 05 September 2019. | Manuscript published on 30 September 2019. | PP: 1747-1751 | Volume-8 Issue-11, September 2019. | Retrieval Number: K17520981119/2019©BEIESP | DOI: 10.35940/ijitee.K1752.0981119
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: For consumers economic point of view, competitive markets are highly required in order to meet their demands efficiently. Therefore, this work formulates bidding analysis model in order to meet the demand and supply of consumers in electricity markets in day-ahead markets. In this, single side bidding models scenario has been discussed with a constant power demand using fuel cost linear curves. The objective of singe side bidding is to find out the market clearing price (MCP) and respective generation quantity of the entire supply participants. The numerical case study has been presented with five suppliers and a fixed power demand on hourly basis up to 24 hours.
Keywords: Competitive Electricity Market, MCP Simulations, Pool Based Market, Power Exchange.
Scope of the Article: Agent-Based Auctions and Marketplaces