The emerging electricity market behaves more like an oligopoly than a perfectly competitive market. Each supplier and consumer will have profits of varying extents influenced by differences in the degree of imperfection of knowledge of their rivals. This paper discusses the optimal bidding...

In a restructured electricity market environment, the competition in the production and consumption of electric energy leads to the transmission network operating at or beyond one or more transfer limits. In such a situation, the system gets congested, resulting in an increase in the cost of...