Study of impacts of physical contracts and financial contracts on bidding strategies of GENCOs

Xiaoling Chen; Y. He; Y. H. Song; Yosuke Nakanishi; Chikashi Nakanishi; Satoru Takahashi; Yoshinori Sekine

doi:10.1016/j.ijepes.2004.06.001

Study of impacts of physical contracts and financial contracts on bidding strategies of GENCOs

Xiaoling Chen, Y. He, Y. H. Song^*, Yosuke Nakanishi, Chikashi Nakanishi, Satoru Takahashi, Yoshinori Sekine

^*この研究の対応する著者

研究成果: Article › 査読

17 被引用数 (Scopus)

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This paper studies the impacts of physical contracts and financial contracts on the bidding strategies of GENCOs, including Physical Bilateral Contracts, Contracts for Difference (CfDs), Call Options and Put Options under discriminatory pricing mechanism. The integrated bidding decision model is applied, which has three main modules - probabilistic local marginal price simulator, market-oriented unit commitment model and multi-criteria decision system. The numerical results show that the GENCO will choose different bidding strategies if it holds different types of contract. The results also suggest that CfDs have the best performance for risk alleviation.

本文言語	English
ページ（範囲）	715-723
ページ数	9
ジャーナル	International Journal of Electrical Power and Energy System
巻	26
号	9
DOI	https://doi.org/10.1016/j.ijepes.2004.06.001
出版ステータス	Published - 2004 11月 1
外部発表	はい

ASJC Scopus subject areas

エネルギー工学および電力技術
電子工学および電気工学

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10.1016/j.ijepes.2004.06.001

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abstract = "This paper studies the impacts of physical contracts and financial contracts on the bidding strategies of GENCOs, including Physical Bilateral Contracts, Contracts for Difference (CfDs), Call Options and Put Options under discriminatory pricing mechanism. The integrated bidding decision model is applied, which has three main modules - probabilistic local marginal price simulator, market-oriented unit commitment model and multi-criteria decision system. The numerical results show that the GENCO will choose different bidding strategies if it holds different types of contract. The results also suggest that CfDs have the best performance for risk alleviation.",

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AU - Chen, Xiaoling

AU - He, Y.

AU - Song, Y. H.

AU - Nakanishi, Yosuke

AU - Nakanishi, Chikashi

AU - Takahashi, Satoru

AU - Sekine, Yoshinori

PY - 2004/11/1

Y1 - 2004/11/1

N2 - This paper studies the impacts of physical contracts and financial contracts on the bidding strategies of GENCOs, including Physical Bilateral Contracts, Contracts for Difference (CfDs), Call Options and Put Options under discriminatory pricing mechanism. The integrated bidding decision model is applied, which has three main modules - probabilistic local marginal price simulator, market-oriented unit commitment model and multi-criteria decision system. The numerical results show that the GENCO will choose different bidding strategies if it holds different types of contract. The results also suggest that CfDs have the best performance for risk alleviation.

AB - This paper studies the impacts of physical contracts and financial contracts on the bidding strategies of GENCOs, including Physical Bilateral Contracts, Contracts for Difference (CfDs), Call Options and Put Options under discriminatory pricing mechanism. The integrated bidding decision model is applied, which has three main modules - probabilistic local marginal price simulator, market-oriented unit commitment model and multi-criteria decision system. The numerical results show that the GENCO will choose different bidding strategies if it holds different types of contract. The results also suggest that CfDs have the best performance for risk alleviation.

KW - Bidding strategy

KW - Contract

KW - Electricity markets

KW - Risk management

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Study of impacts of physical contracts and financial contracts on bidding strategies of GENCOs

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