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On bidding strategies for competitive generators based on PSO method under incomplete information

In power market, it is rather important for Gencos to choose their bids wisely. This paper conducts a research on bidding strategies for Gencos under incomplete information and proposes a bidding strategy model with elimination mechanism. By narrowing the searching space of bids to simplify the model, it avoids the algorithm trapped into a local optimum to some extent. Meanwhile, the elimination mechanism also optimizes the bids in a way which provides a Genco with more assurance under the prerequisite of pursuing maximum profits. The experimental results verify the validity of the proposed model.