Bidding simulation methods for power suppliers considering forward contract

Abstract

Abstract. A total electricity market should include spot market and forward contract market. The spot market keep balance on electricity, the other is helpful to advance competition and achieve a more efficient market equilibrium price. In this paper, a bidding strategies model based on intelligent agent is used to simulate the behavior of generators. The influence of forward contract on the bidding behavior of generators is considered in the model. The case analysis shows that generator's intelligent agent model established in this paper can well simulate generators of different characteristics; different kinds of long-term contracts have a different influence on bidding behavior of day ahead market.