TY - GEN
T1 - Bidding system based electricity planning in multi-area electricity using game theory model
AU - Hu, Leyi
AU - Li, Wanyu
AU - Murata, Tomohiro
PY - 2011/10/13
Y1 - 2011/10/13
N2 - 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.
AB - 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.
KW - decision support
KW - electrical bidding
KW - pricing mechanism
KW - uncertain information
UR - http://www.scopus.com/inward/record.url?scp=80053634077&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=80053634077&partnerID=8YFLogxK
U2 - 10.1109/ICAL.2011.6024765
DO - 10.1109/ICAL.2011.6024765
M3 - Conference contribution
AN - SCOPUS:80053634077
SN - 9781457703010
T3 - IEEE International Conference on Automation and Logistics, ICAL
SP - 471
EP - 476
BT - 2011 IEEE International Conference on Automation and Logistics, ICAL 2011
T2 - 2011 IEEE International Conference on Automation and Logistics, ICAL 2011
Y2 - 15 August 2011 through 16 August 2011
ER -