An effective methodology for profit and benefit maximization of market participants by trading of electric energy under competitive environment
The electricity market has since 1980’s been gradually evolving from a monopoly market into a liberalized one for encouraging competition and improving efficiency. This introduces the opportunity for market participants (Power suppliers and consumers) to make more profit and benefits in the trading process of electrical energy. Therefore, it has become a core interest for the market participants to develop optimal bidding strategies to maximize the profit and benefits while participating in a competitive energy market.