Considering the increment of air-conditional electricity consumption, air-conditioning load aggregators (ALA) are prone to participate in bidding electricity market by managing enormous quantity and dispersive air-conditioning load (AL), which not only reduces load peak-valley difference, but also provides the opportunity for AL to take part in power market bidding. This work adopts reference price effect from behaviour economics to depict electricity consumption preference. A bi-level optimization method is being established. The upper level problem aims to maximize the social welfare, while ...
