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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)
Publication Information
KIEE International Transactions on Power Engineering / v.4A, no.4, 2004 , pp. 243-253 More about this Journal
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
Game theory; generation bidding competition; maximum capacity constraints; price clearing; strategic behavior;
Citations & Related Records
Times Cited By KSCI : 1  (Citation Analysis)
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