Abstract

In the Australian National Electricity Market (NEM), pool prices are fully determined by the balance between electricity supply and demand. Market participants provide price and power bids in half-hour periods. Dispatch prices are determined by the market operator in five-minute periods. The bidding behaviour is based on the prediction of electricity market in particular system demand which determines prices in most trading intervals. The more accurate prediction of demand patterns can lead to optimisation of bidding strategies. This paper presents the application of fuzzy sets to analyse system demand in the Australian Electricity Market as the basic input information for optimisation of bidding strategies. Linguistic variables are effective tools to analyse trends of system demand and predict its future values.

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