Annual Report 2011-2012
Annual Report 2011-2012
Annual Report 2011-2012
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<strong>Annual</strong> Research <strong>Report</strong> <strong>2011</strong>-<strong>2012</strong><br />
Project Title:<br />
Designing an optimal bidding software for Tehran regional<br />
electricity company in order to optimal contribution in<br />
electricity market<br />
Department: Electricity management and Economics<br />
Employer: Tehran regional electricity company (GREC)<br />
Project Manager: peyman mousavi<br />
Project Staff:F.Fallahi, S.Davari, V.Vahidinasab, N.Mahdavi, L.Khorsand<br />
Project Code:CMABT01<br />
Project Summary:<br />
In order to be a successful player in electricity market of Iran, GREC have to play with<br />
complete insight and knowledge about real cost of per Megawatt produced electricity,<br />
market opportunities and be aware of its units potentials to choose the best strategy in<br />
every time period so as to reach its targeted profit. This information includes the<br />
following costs:<br />
• Technical costs<br />
• fixed costs such as investment and capital costs<br />
• variable costs such as operation and maintenance costs (including fuel cost)<br />
These costs have been calculating in different time periods with respect to operation<br />
characteristics of system.<br />
The main goal of this project was to design professional software that to be able to<br />
process the production costs of each unit of GREC accurately based on attainable<br />
information. Moreover, with the aid of Neural Network algorithms, our software is able<br />
to run in both Web and Windows environment. Information is gathered from units<br />
(daily or weekly) and after some analysis and evaluation, is represented via managerial<br />
and expertise reports.<br />
At present, regional electricity companies and owners of plants bid into electricity<br />
markets based on their historical records. The lack of correct awareness about inherent<br />
and acquisitive market power thwarts the optimal bidding into electricity market. On the<br />
other hand, a power producing company should estimate its position and its rivals to<br />
select a optimal bidding strategy. Thus, the second target of this project was to promote<br />
and enhance the place of GREC in electricity market. So, with investigating the<br />
potential and performance of each unit and foreseeing the behavior of other competitors,<br />
our software is able to analyze the strategic behavior of others and to determine an<br />
optimal bidding for each hour of every unit of GREC.<br />
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