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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.
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Operational Program Digital Poland, 2014-2020, Measure 2.3: Digital accessibility and usefulness of public sector information; funds from the European Regional Development Fund and national co-financing from the state budget.
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Click the link below to view the content.https://www.ibspan.waw.pl/~alex/OZwRCIN/WA777_113920_RB-2006-16_An%20Empirical%20Fuzzy%20Model%20for%20Maximizing%20Profit%20in%20Electricity%20Spot%20Market_content.pdf