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A Study on Transaction Pricing of Generation Bidding in Electricity Market by Using Game Theory  

이광호 (단국대 전기전자컴퓨터공학부)
Publication Information
The Transactions of the Korean Institute of Electrical Engineers A / v.52, no.6, 2003 , pp. 333-339 More about this Journal
Abstract
Competition among electric generation companies is a major goal of restructuring in the electricity industry. In electricity market, a huge volume of commodities will be traded through competitive bidding. The choice between uniform and pay-as-bid pricing for electricity auction has been one of most important issues in deregulated electricity market. This paper proposes a constrained Bertrand model for analyzing the electricity auction market of price competition model. The issue of the two pricing rules of uniform and pay-as-bid is studied from the viewpoint of consumer's benefit. This paper also shows that transmission congestion depends on the pricing mechanism. Pay-as-bid pricing gives less possibility of transmission congestion by price competition, and less burden to consumers in the simulation results.
Keywords
Electricity Auction; Pay-as-bid Pricing; Uniform Pricing; Bertrand Model; Transmission Congestion;
Citations & Related Records
Times Cited By KSCI : 2  (Citation Analysis)
연도 인용수 순위
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