A theory advanced in regulatory hearings holds that market performance will be improved if one side of themarket is forced to publicly reveal preferences. For example, wholesale electricity producers claim that retail electricity consumers would pay lower prices if wholesale public utility demand is disclosed to producers. Experimental markets studied here featured decentralized, privately nego...

In this paper, Nash equilibriums of generation markets are investigated using a game theory application for simplified competitive electricity markets. The characteristic of equilibrium states in N-company spot markets modelled by uniform pricing auctions is analyzed and a new method for obtaining Nash equilibriums of the auctions is proposed. Spot markets are assumed to be operated as uniform ...

This paper represents a complete survey on Generation Companies’ (GenCos’) optimal bidding strategy problem in restructured power markets. In this regard after an introduction to competitive electricity markets, concept of optimal bidding strategy is presented. Considering large amount of works accomplished in this area a novel classification is implemented in order to categorize the existing d...

Motivation During the summer of 2000, wholesale electricity prices in California were approximately 500% higher than those during the same months in 1998-1999. There is a need for a model that could systematically explain the anomalous event. Key contributions a. A formal model of a market structure One of the main deterrents in constructing a large complex system is the lack of a formal repres...

This paper studies the evolutionarily stable strategies of one-manufacturer and one-retailer supply chains. Each manufacturer and retailer chooses between two pure strategies of management: shareholder-oriented or stakeholder-oriented. Based on its management strategy, the firm decides its wholesale or retail price. In this paper, we consider supply chains formed by two matching processes: rand...

This paper presents a methodology based on Fuzzy Adaptive Particle Swarm Optimization (FAPSO) for the preparation of optimal bidding strategies corresponding unit commitment by Generation companies (Gencos) in order to gain maximum profits in a day-ahead electricity market. In a competitive electricity market with limited number of suppliers, Gencos are facing an oligopoly market rather than a ...

This paper develops an optimal energy bidding mechanism for the regional integrated electricity–hydrogen system (RIEHS) considering complex flow and further presents optimization management strategy based on Stackelberg game. The transaction mode of RIEHS is first introduced, models three market game participants are established. Then, game-based formulated, where operator (EHO) leader prosumer...