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Electricity spot market reform has always been the forefront of the development of the electrical industry. On the basis of the relatively mature development abroad, China has also begun to gradually experiment in 8 provinces. However, in the real-time market scheduling, the line power flow using the DC method often has the deviation from the actual situations, which leads to problems such as the power flow exceeding the limit. Therefore, in order to improve the problem, this paper proposes an improved DC power flow model based on Power Transfer Distribution Factors (PTDF) with correction. We also using the 'case39' system in matpower to verify the validity of the model. The results show that the overall accuracy and variance are improved, thereby achieving a more accurate DC dispatching, which enhances the safety and economy of grid dispatching in the electricity spot market.

In a competitive retail electricity market, the bidding strategy based on a forecasted nodal price is important for individual generators to guarantee a successful bid. However, sufficient attentions have not been given to the uncertainty of the forecasted nodal price. This paper focuses on bidding strategy of individual generators considering uncertainty of the forecasted nodal price. The probability of the forecasted nodal price is used to derive the expected benefit of individual generators, based on which the generators’ self-benefit is maximized. The simulation results verify the effectiveness of the proposed method.

Locational marginal price (LMP) is dependent on the characteristics of the participants to a large extent. Based on Multi-Dimensional characteristics of generators, a locational marginal price modeling method is proposed in this paper. Three-dimensional characteristics of generators’ bidding are extracted from the historical bidding data, including risk favor, degree of certainty, and the degree of optimism. Based on the expected value of forecasted LMP, the Three-dimensional characteristics are used to generate the forecasted bid price of individual generators, where the LMP clearing problem is solved and the forecasted LMP is obtained.