A Game Theoretical Approach Based Bidding Strategy Optimization for Power Producers in Power Markets with Renewable Electricity

Energies

Ning Chen¹  Tingting Ma²  Bingtuan Gao²  Xiaofeng Liu²  Jing Ling²  Yi Tang² 

[1] China Electric Power Research Institute, Nanjing 210003, China;School of Electrical Engineering, Southeast University, Nanjing 210096, China;

关键词: bidding strategy;    non-cooperative game;    competitive electricity market;    bi-level optimization;   

DOI  :  10.3390/en10050627

来源: DOAJ

【 摘 要 】

In a competitive electricity market with substantial involvement of renewable electricity, maximizing profits by optimizing bidding strategies is crucial to different power producers including conventional power plants and renewable ones. This paper proposes a game-theoretic bidding optimization method based on bi-level programming, where power producers are at the upper level and utility companies are at the lower level. The competition among the multiple power producers is formulated as a non-cooperative game in which bidding curves are their strategies, while uniform clearing pricing is considered for utility companies represented by an independent system operator. Consequently, based on the formulated game model, the bidding strategies for power producers are optimized for the day-ahead market and the intraday market with considering the properties of renewable energy; and the clearing pricing for the utility companies, with respect to the power quantity from different power producers, is optimized simultaneously. Furthermore, a distributed algorithm is provided to search the solution of the generalized Nash equilibrium. Finally, simulation results were performed and discussed to verify the feasibility and effectiveness of the proposed non-cooperative game-based bi-level optimization approach.

【 授权许可】

Unknown