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 publicationIEEE International Conference on Automation and Logistics, ICAL
Pages471-476
Number of pages6
DOIs
Publication statusPublished - 2011
Event2011 IEEE International Conference on Automation and Logistics, ICAL 2011 - Chongqing
Duration: 2011 Aug 152011 Aug 16

Other

Other2011 IEEE International Conference on Automation and Logistics, ICAL 2011
CityChongqing
Period11/8/1511/8/16

Fingerprint

Game theory
Electricity
Planning
Profitability
Costs
Industry
Decision making

Keywords

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

ASJC Scopus subject areas

  • Control and Systems Engineering

Cite this

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

Bidding system based electricity planning in multi-area electricity using game theory model. / Hu, Leyi; Li, Wanyu; Murata, Tomohiro.

IEEE International Conference on Automation and Logistics, ICAL. 2011. p. 471-476 6024765.

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

Hu, L, Li, W & Murata, T 2011, Bidding system based electricity planning in multi-area electricity using game theory model. in IEEE International Conference on Automation and Logistics, ICAL., 6024765, pp. 471-476, 2011 IEEE International Conference on Automation and Logistics, ICAL 2011, Chongqing, 11/8/15. https://doi.org/10.1109/ICAL.2011.6024765
Hu L, Li W, Murata T. Bidding system based electricity planning in multi-area electricity using game theory model. In IEEE International Conference on Automation and Logistics, ICAL. 2011. p. 471-476. 6024765 https://doi.org/10.1109/ICAL.2011.6024765
Hu, Leyi ; Li, Wanyu ; Murata, Tomohiro. / Bidding system based electricity planning in multi-area electricity using game theory model. IEEE International Conference on Automation and Logistics, ICAL. 2011. pp. 471-476
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