ELECTRICITY MARKETS

This chapter addresses the topic of bidding strategies, which is essential for market players to enhance their market participation outcomes. It focuses on market analysis and clearing, thus providing the insight on how the market price is calculated and what affects the definition of prices and accepted and refused bids; this is accomplished through electricity market simulation. The chapter also addresses the topic of electricity market forecasting, which is a crucial aspect in current and future energy markets due to the participation of uncertain sources in both generation and consumption. It covers two significant topics in the electricity market domain: electric vehicles and ancillary services, which are some of the most promising assets in future markets, due to their capability of providing dynamic services to the grid. Fuzzy optimization has been used successfully to handle the uncertainties in regulated power system problems, such as unit commitment and economic dispatch.