Improvement Algorithm of Generation Cost Based on Reliability
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Abstract:
This paper discusses the influenced manner of reliability on bidding, and establishes the direct functional relationship among reliability, generation cost and electricity price in different risk of power generation. In this function model, the generation cost and the price could reflect the current reliability of equipment in a dynamic way. The generation risk is also considered in competitive bidding. The bidding strategy based on this model helps the power plant acquire the optimal benefit.
