A Market Framework for Energy Bidding Decision Making Strategy to provide a Competitive Mechanism in the Context of Deregulated Electricity Market
In the modern power grid operation, the regulatory goal of the market is to provide continuous electricity supply to the customers with reasonable energy prices. The current structure of energy market in Malaysia follows the single buyer market model, where the generation is procured solely by a...
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Online Access: | http://ir.unimas.my/id/eprint/36593/1/Profesor%20Madya%20Dr.%20Ahmed%20Mohamed%20Ahmed%20Haidar.pdf http://ir.unimas.my/id/eprint/36593/ |
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my.unimas.ir.365932023-07-31T07:34:44Z http://ir.unimas.my/id/eprint/36593/ A Market Framework for Energy Bidding Decision Making Strategy to provide a Competitive Mechanism in the Context of Deregulated Electricity Market Ahmed Mohamed, Ahmed Haidar Lai, Carmen Muttaqi, Kashem M. TA Engineering (General). Civil engineering (General) TK Electrical engineering. Electronics Nuclear engineering In the modern power grid operation, the regulatory goal of the market is to provide continuous electricity supply to the customers with reasonable energy prices. The current structure of energy market in Malaysia follows the single buyer market model, where the generation is procured solely by a single utility with a limited competition, which is not effective in lowering the electricity prices. This paper proposes a market framework for competitive strategies to achieve maximum benefits of the power grid in Sarawak, Malaysia while the optimal bidding in the day-ahead market is assessed. Game theory with the non-cooperative scheme is applied for the electricity market comprising various participants. The performance of the proposed approach is evaluated using a practical power grid with data of the electricity market obtained from available sources. The feasibility of electricity market deregulation in Sarawak is proven to be effective, as the proposed framework can provide insight into the generated revenue of energy producers in a fair and competitive market environment. 2021 Proceeding PeerReviewed text en http://ir.unimas.my/id/eprint/36593/1/Profesor%20Madya%20Dr.%20Ahmed%20Mohamed%20Ahmed%20Haidar.pdf Ahmed Mohamed, Ahmed Haidar and Lai, Carmen and Muttaqi, Kashem M. (2021) A Market Framework for Energy Bidding Decision Making Strategy to provide a Competitive Mechanism in the Context of Deregulated Electricity Market. In: 2021 IEEE 4th International Conference on Computing, Power and Communication Technologies (GUCON), Sep 24-26, 2021, University of Malaya, Kuala Lumpur, Malaysia. |
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TA Engineering (General). Civil engineering (General) TK Electrical engineering. Electronics Nuclear engineering |
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TA Engineering (General). Civil engineering (General) TK Electrical engineering. Electronics Nuclear engineering Ahmed Mohamed, Ahmed Haidar Lai, Carmen Muttaqi, Kashem M. A Market Framework for Energy Bidding Decision Making Strategy to provide a Competitive Mechanism in the Context of Deregulated Electricity Market |
description |
In the modern power grid operation, the
regulatory goal of the market is to provide continuous
electricity supply to the customers with reasonable energy
prices. The current structure of energy market in Malaysia
follows the single buyer market model, where the generation is procured solely by a single utility with a limited competition, which is not effective in lowering the electricity prices. This paper proposes a market framework for competitive strategies to achieve maximum benefits of the power grid in Sarawak, Malaysia while the optimal bidding in the day-ahead market is assessed. Game theory with the non-cooperative scheme is applied for the electricity market comprising various participants. The performance of the proposed approach is evaluated using a practical power grid with data of the electricity market obtained from available sources. The feasibility of electricity market deregulation in Sarawak is proven to be effective, as the proposed framework can provide insight into the generated revenue of energy producers in a fair
and competitive market environment. |
format |
Proceeding |
author |
Ahmed Mohamed, Ahmed Haidar Lai, Carmen Muttaqi, Kashem M. |
author_facet |
Ahmed Mohamed, Ahmed Haidar Lai, Carmen Muttaqi, Kashem M. |
author_sort |
Ahmed Mohamed, Ahmed Haidar |
title |
A Market Framework for Energy Bidding Decision Making Strategy to provide a Competitive Mechanism in the Context of Deregulated Electricity Market |
title_short |
A Market Framework for Energy Bidding Decision Making Strategy to provide a Competitive Mechanism in the Context of Deregulated Electricity Market |
title_full |
A Market Framework for Energy Bidding Decision Making Strategy to provide a Competitive Mechanism in the Context of Deregulated Electricity Market |
title_fullStr |
A Market Framework for Energy Bidding Decision Making Strategy to provide a Competitive Mechanism in the Context of Deregulated Electricity Market |
title_full_unstemmed |
A Market Framework for Energy Bidding Decision Making Strategy to provide a Competitive Mechanism in the Context of Deregulated Electricity Market |
title_sort |
market framework for energy bidding decision making strategy to provide a competitive mechanism in the context of deregulated electricity market |
publishDate |
2021 |
url |
http://ir.unimas.my/id/eprint/36593/1/Profesor%20Madya%20Dr.%20Ahmed%20Mohamed%20Ahmed%20Haidar.pdf http://ir.unimas.my/id/eprint/36593/ |
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1773547903057395712 |
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13.188404 |