A market framework for energy bidding decision-making strategy to provide a competitive mechanism in the context of deregulated electricity market

Paper

Haidar, Ahmed M. A., Carmen, Lai and Muttaqi, Kashem M.. 2021. "A market framework for energy bidding decision-making strategy to provide a competitive mechanism in the context of deregulated electricity market." IEEE 4th International Conference on Computing, Power and Communication Technologies (GUCON 2021). Kuala Lumpur, Malaysia United States. https://doi.org/10.1109/GUCON50781.2021.9574039
Paper/Presentation Title

A market framework for energy bidding decision-making strategy to provide a competitive mechanism in the context of deregulated electricity market

Presentation TypePaper
AuthorsHaidar, Ahmed M. A. (Author), Carmen, Lai (Author) and Muttaqi, Kashem M. (Author)
Journal or Proceedings TitleProceedings of the IEEE 4th International Conference on Computing, Power and Communication Technologies (GUCON 2021)
Number of Pages7
Year2021
Place of PublicationUnited States
ISBN9781728199528
9781728199511
Digital Object Identifier (DOI)https://doi.org/10.1109/GUCON50781.2021.9574039
Web Address (URL) of Paperhttps://ieeexplore.ieee.org/document/9574039
Conference/EventIEEE 4th International Conference on Computing, Power and Communication Technologies (GUCON 2021)
Event Details
IEEE 4th International Conference on Computing, Power and Communication Technologies (GUCON 2021)
Event Location
Kuala Lumpur, Malaysia
Abstract

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.

Keywordselectricity market, bidding optimization, energy monopolies, restructuring of power industry
ANZSRC Field of Research 2020400803. Electrical energy generation (incl. renewables, excl. photovoltaics)
Public Notes

Paper #53. Permanent restricted access to Published version + Front Matter, in accordance with the copyright policy of the publisher.

Byline AffiliationsSchool of Mechanical and Electrical Engineering
University of Malaysia, Sarawak, Malaysia
University of Wollongong
Institution of OriginUniversity of Southern Queensland
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