A Market Framework for Energy Bidding Decision- Making Strategy to provide a Competitive Mechanism in the Context of Deregulated Electricity Market
In the modern power grid operation, the regulatory goal of the market is to provide continuous electricity supply to the customers with reasonable energy prices. The current structure of the energy market in Malaysia follows the single buyer market model, where the generation is procured solely by a...
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| Main Authors: | , , |
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| Format: | Proceeding |
| Language: | en |
| Published: |
IEEE
2021
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| Subjects: | |
| Online Access: | http://ir.unimas.my/id/eprint/36621/1/ahmed1.pdf http://ir.unimas.my/id/eprint/36621/ https://ieeexplore.ieee.org/document/9574039 |
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| Summary: | In the modern power grid operation, the regulatory goal of the market is to provide continuous electricity supply to the customers with reasonable energy prices. The current structure of the energy market in Malaysia follows the single buyer market model, where the generation is procured solely by a single utility with limited competition, which is not effective in lowering electricity prices. This paper proposes a market framework for competitive strategies
to achieve maximum benefits of the power grid in Sarawak,
Malaysia while the optimal bidding in the day-ahead market is assessed. Game theory with the non-cooperative scheme is
applied for the electricity market comprising various participants. The performance of the proposed approach is
evaluated using a practical power grid with data of the
electricity market obtained from available sources. The feasibility of electricity market deregulation in Sarawak is
proven to be effective, as the proposed framework can provide insight into the generated revenue of energy producers in a fair and competitive market environment. |
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