A game-theoretic analysis of wind power generator bidding strategies in electricity markets

Abstract

Third, we provide a systematic analysis of optimal WPG biddind strategies in the presence of energy storage. Electricity demand and wind resources have negative temporal correlation. Thus large energy price fluctuation over time can be expected with significant wind energy penetration. In this study, energy storage is applied for inter-temporal arbitrage to help increase WPG's revenue. In addition, the competition games between WPG and energy storage are also investigated.