Bidding system based electricity planning in multi-area electricity using game theory model

Leyi Hu, Wanyu Li, Tomohiro Murata

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Abstract

In many countries, electricity generation stations are interconnected with a system called power grid which allows the electricity generated in one place to be sent to users in another place. Electric dispatching center is able to reroute electricity to where it is needed. Any generation company (GenCo) has the right to join the market if they want in order that they are able to compete with each other to generate electricity for profit. Thus, they need to make decisions of which power required areas are worth choosing before sealed bid-one type of electrical bidding. However, they have uncertain information of rivals' cost. This paper proposes a semi-automatic pricing mechanism for the decision support for electricity generation companies to make bidding decisions which maximizes their profit in multi-area power grid system, and to evaluate effect of information uncertainty for decision making.

Original languageEnglish
Title of host publication2011 IEEE International Conference on Automation and Logistics, ICAL 2011
Pages471-476
Number of pages6
DOIs
Publication statusPublished - 2011 Oct 13
Event2011 IEEE International Conference on Automation and Logistics, ICAL 2011 - Chongqing, China
Duration: 2011 Aug 152011 Aug 16

Publication series

NameIEEE International Conference on Automation and Logistics, ICAL
ISSN (Print)2161-8151

Conference

Conference2011 IEEE International Conference on Automation and Logistics, ICAL 2011
CountryChina
CityChongqing
Period11/8/1511/8/16

Keywords

  • decision support
  • electrical bidding
  • pricing mechanism
  • uncertain information

ASJC Scopus subject areas

  • Control and Systems Engineering

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  • Cite this

    Hu, L., Li, W., & Murata, T. (2011). Bidding system based electricity planning in multi-area electricity using game theory model. In 2011 IEEE International Conference on Automation and Logistics, ICAL 2011 (pp. 471-476). [6024765] (IEEE International Conference on Automation and Logistics, ICAL). https://doi.org/10.1109/ICAL.2011.6024765