Bidding Strategies for HT Consumers in Open Access Energy Market

Abstract

The Electricity Act of 2003, recognized the need for a robust & active trading market & introduced the concept of ‘open access’ which was a deregulated market that provided the heavy users with more than 1 MW of contracted demand to bid their flexible loads in the energy markets by participating in the energy markets to trade power at competitive prices and reduce their electricity bill. Most of the HT consumers prefer to participate in the open access partially to meet their base load through open access and peak load through DISCOM supply. Therefore, this paper proposes a bidding strategy to meet the base load through open access by shifting the flexible loads to non-peak hours and estimating the potential savings. The bidding strategy is tested with a case study of the IIT Hyderabad campus in a day ahead market by using the load consumption data of the campus and the market clearing prices from the Indian Energy Exchange to minimize the electricity bill of the IITH campus.