The Research Of Bidding Strategies For Generation Companies In The Electricity Market Environment

With profound reformation undergoing in electricity market, the research of bidding strategies for generation companies is significant. Based on Game Theory, some research and analysis work on the above-mentioned issue was put forward in this thesis.Standard forms of Cournot model and Bertrand model were analyzed. Standard form of Cournot model was extended. The competitive strategy models based on the lowest cost of power generation and the most of power generation were specified at the same time.In a assumed electricity market with an elastic electric power demand, a Cournot model with generators' capability constraints under complete information was established. On the basis of this, a Cournot model with generators' capability constraints under incomplete information was established. The model under incomplete information was specified in two situations: (1) Generation companies have some estimate functions of other generation units' cost; (2) Generation companies have a distributing function of other generation units' cost-estimate. Then the methods to obtain Cournot-Nash equilibrium states of all kinds of Cournot models above were introduced. When getting the optimal solution of the output of generation units, the units bidding curves can be obtained. From the units bidding curves, the units bidding strategies can be obtained. At last, stimulation and analysis was illustrated.Based on the analysis of Cournot-equilibrium and monopoly-equilibrium of Cournot model, an infinitely repeated Cournot model was proposed in this thesis. Then the spring strategy and its conditions were proposed which was sustained with monopoly-power. If this condition can't be contented, the spring strategy which is cooperation of lower level was proposed. At last, the spring strategy and its conditions were specified which was based on analyzing of relations between increasing punish-degree and improving cooperation-level.