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An Empirical Fuzzy Model for Maximizing Profit in Electricity Spot Market
Subtitle:Raport Badawczy = Research Report ; RB/16/2006
Creator: Publisher:Instytut Badań Systemowych. Polska Akademia Nauk ; Systems Research Institute. Polish Academy of Sciences
Place of publishing: Date issued/created: Description:22 pages ; 21 cm ; Bibliography p. 17-22
Subject and Keywords:Operator agregacji ; Aggregating operators ; Deregulated electricity market ; Fuzzy optimization ; Strategic bidding ; Deregulacja rynku energii elektrycznej
Abstract:This paper discusses the use of context based fuzzy optimization approach to maximize profit in the context of joint quantity-price bidding in today’s deregulated electricity market. The proposed method is innovative because it utilizes sets of empirical (market) data that reflect functional dependence between the input and output variables. The paper describes the structure of the fuzzy system and its components: the context variables, the input membership function and the output membership function, as well as the use of aggregation operators in aggregating the context variables. The paper also presents a numerical example to demonstrate the application of the proposed method and compare the result with analytical solution.
Relation:Raport Badawczy = Research Report
Resource type: Detailed Resource Type: Source: Language: Language of abstract: Rights:Creative Commons Attribution BY 4.0 license
Terms of use:Copyright-protected material. [CC BY 4.0] May be used within the scope specified in Creative Commons Attribution BY 4.0 license, full text available at: ; -
Digitizing institution:Systems Research Institute of the Polish Academy of Sciences
Original in:Library of Systems Research Institute PAS
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