Proceedings of the KIEE Conference (대한전기학회:학술대회논문집)
- summer
- /
- Pages.701-703
- /
- 2004
Designing the Optimal Bilateral Contract in the Competitive Electricity Market
경쟁적 전력시장에서의 적정 직거래 계약가격 설정에 관한 연구
-
Chung Koo Hyung
(Hongik Univ.) ;
-
Kang Dong Joo
(Hongik Univ.) ;
- Kim Bal Ho (KERl)
- Published : 2004.07.14
Abstract
Although the electricity market structure worldwide may be different in kinds, there generally exists long-term forward market and short-term spot market. Particularly, the bilateral contract in long-term forward market fixes the price between a genco and a customer so that the customer can avoid risks due to price-spike in spot market. The genco also can make an efficient risk-hedge strategy through this bilateral contract. In this paper, we propose a new mechanism for evaluating the optimal bilateral contract price using game theory. This mechanism makes a customer reveal his/her own willingness to purchase electricity so that a fair bilateral contract price can be derived.
Keywords