Technical FAQs 4

What is the bidding action of a power plant?

The bidding action of one power plant consists of the electricity bidding price and the electricity bidding volumes. The bidding price of a power plant is taken as [mc, P], where mc is the marginal cost of the power plant, and P is the maximum bidding price specified by the market.

What is the maximum bidding price for power plants?

The market maximum bidding price is set to 20 USD/MWh, and the settings of power plants are set as Table 1 : Table 1. Intrinsic parameter setting of each power plant agent.

How does a Power Plant bidding system work?

In each round of bidding, ISO ranks the bidding prices from lowest to highest and accumulates the corresponding volumes until the accumulated volumes are no less than the total market demand. Under PAB rules, all winning power plants trade at their respective bid prices.

What is intelligent strategic bidding based on DRL?

Based on the theoretical framework of intelligent strategic bidding in electricity markets, the simulation methods of intelligent strategic bidding based on DRL are studied. and three DRL algorithms are applied to the MAS model. In the MAS model established in this paper, we set up eight power plant agents and one ISO agent.

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