December 2004

16
R. Rajaraman. “Optimal Bidding Strategies in Electricity Markets”
Example 2B:
Correlated Prices, No Bid Restriction
HIGH=$30/MWh
Period 1
Period 2
LOW=$20/MWh
LOW=$15/MWh
HIGH=$40/MWh
prob=1
prob=1
Decreasing MW versus price bids are allowed