Strategic bidding under uncertainty: a binary expansion approach

  title={Strategic bidding under uncertainty: a binary expansion approach},
  author={M. V. Pereira and Sergio Granville and M.H.C. Fampa and Ralph Dix and L. A. Barroso},
  journal={IEEE Transactions on Power Systems},
This work presents a binary expansion (BE) solution approach to the problem of strategic bidding under uncertainty in short-term electricity markets. The BE scheme is used to transform the products of variables in the nonlinear bidding problem into a mixed integer linear programming formulation, which can be solved by commercially available computational systems. The BE scheme is applicable to pure price, pure quantity, or joint price/quantity bidding models. It is also possible to represent… CONTINUE READING
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