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The Research On Decisions Of Quoted Prices Made By Power Plant In Power Market

Posted on:2005-08-17Degree:MasterType:Thesis
Country:ChinaCandidate:F ChenFull Text:PDF
GTID:2156360125456568Subject:Power system and its automation
Abstract/Summary:PDF Full Text Request
In our country, the electric power industry is in transition from traditional electrical structure to power market. In this environment, each power plant wants to maximize its profits using different strategies. A Nash equilibrium shows one of the choices in the collections of best strategies made by participants of competition in power market. The most important information is the information of strategies and profits made by other participants. Normally, each power plant has no complete information of other power plants. So in this paper we use game theory to simulate the behaviors of participants in power market and the competition among participants is modeled as two different non-cooperative games. One is non-cooperative game with complete information, the other is non-cooperative game with incomplete information.In the model of non-cooperative game with complete information power pool distributes the load by using optimal power flow (OPF) because we consider the loss, generation constraints and other limits and we can compute the results of profits of each participant of different collections of strategies made by all participants in the game .It shows us a payoff matrix . Then we can find the Nash equilibrium by using rules of game theory from the matrix .In this paper, we construct anther model based on non-cooperative game with incomplete information of some limits , and we give a method to solve the Bayes Nash equilibrium ,then we get the optimal outcome of electricity sold by each power plant, and we use a transformation to get the linear of quoted prices .We compare the results of non-cooperative game with incomplete information between non-cooperative game with complete information and find that they are very near to each other.So it can give us a conclusion that the approach presented in this paper based on the non-cooperative game with incomplete information is geared towards providing support for price decision in the competition in power market.
Keywords/Search Tags:game theory, Nash equilibrium, Byes Nash equilibrium, payoff matrix, quoted price linear
PDF Full Text Request
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