EURO 2024 Copenhagen
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2373. Methodology and results of characterization of strategic bidding strategies

Invited abstract in session MD-14: Modelling European market coupling , stream Energy Markets.

Monday, 14:30-16:00
Room: 16 (building: 116)

Authors (first author is the speaker)

1. Henrik Mantke
Energy Markets, IZES gGmbH

Abstract

As part of the research project “Bidding strategies and their influence on electricity market prices in the EU single market (BETS)” a methodology for characterization of strategic bidding strategies was developed. One of the main targets of the project is the development of a strategic bidding agent for agent-based electricity market models. A special focus will be on the cross-border strategic bidding. An important step for the implementation of the agent is the definition of different strategies that the bidding agent should use, and that could be found in today’s EU spot market. In this context, based on a profound literature research, a methodology for characterization strategic bidding was developed. A focus was set on aspects of the core bidding strategy, the field of application, such as the markets or the used solution and price methodology. Also, different boundary conditions considered in the literature, focus technologies or uncertainty about information for the bidders were considered in the characterization. With this methodology the relevance of different strategies could be analysed and relevant cross-border strategies could be specified, even if they have been analyzed only for individual market areas.

Keywords

Status: accepted

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