MCP simulation and its impact in electricity market

Abstract

For consumers economic point of view, competitive markets are highly required in order to meet their demands efficiently. Therefore, this work formulates bidding analysis model in order to meet the demand and supply of consumers in electricity markets in day-ahead markets. In this, single side bidding models scenario has been discussed with a constant power demand using fuel cost linear curves. The objective of singe side bidding is to find out the market clearing price (MCP) and respective generation quantity of the entire supply participants. The numerical case study has been presented with five suppliers and a fixed power demand on hourly basis up to 24 hours.