KIEE International Transactions on Power Engineering

The Korean Institute of Electrical Engineers (대한전기학회)
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Analysis of Price-Clearing in the Generation Bidding Competition

  • Chung, Koohyung (Dept. of Electrical Engineering, Hongik University) ;
  • Kang, Dongjoo (Electrical Market Technology Research Group, ETRL, KERI) ;
  • Kim, Balho H. (Dept. of Electrical Engineering, Hongik University) ;
  • Chun, Yeonghan (Dept. of Electrical Engineering, Hongik University)
  • Published : 2004.12.01
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Abstract

As deregulation evolves, pricing electricity becomes a major issue in the electric power industry. Participants in the competitive marketplace are able to improve their profits substantially by effectively pricing the electricity. In this paper, game theory is applied to analyze price-clearing in the generation bidding competition with the competition modeled as the non-cooperative and complete information game. The result of this analysis can be useful in understanding spot price-clearing of electricity as well as GENCOs' strategic behavior in the competitive electricity market.

Keywords

References

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