Abstract:
In energy and regulatory markets, trading wind power provides security for regulated reserve systems.Bidding in energy markets and regulated markets can be calculated through a stochastic optimization process of the market. Based on this, this paper analyzes the impact of the price ratio of energy and reserve market on electricity market income. Parametric studies show that the algorithm will work out the best payoff in both markets as long as the electricity price increases are lower than current energy prices. When the regulating price exceeds or equals the current energy market price, it only bids on the energy in the regulating market of the current objective function.When the regulated price is higher than the current level, it only bids at the current target function in the regulated market. Since the price of auxiliary services is higher than that of planned energy, this algorithm requires a more general objective function and constraints of market conditions. In order to use the joint bidding algorithm in the market, it must be optimized for these specific market conditions, and a broader algorithm must be designed for the market to adjust its performance based on these inputs.