Research On GENCOS' Bidding Strategy Based On Game Theory

In our country, the reform of electric market is in primary stage, the market first was opened the generation sector. Now, the generation companies carry out 'separating power plants from networks by price competition', they will change the plan-driving operation model into market-driving economic equilibrium operation model. In the power market, the generation schedule and the price of the plant companies are correlated with the profit, the profit turned to maximum is the goal of each generation company. Then in the power market, which strategic bidding can realize the maximum returns is the focus for plant. This paper has done more thorough research in view of this question.This paper introduced the operation mechanism of trading market in power trading. The main methods of more mature bidding strategy and present status are presented, and the paper explained this a few methods combining with the practical models.The characteristics of GENCOS' cost are analyzed. Based on the game theory, a Cournot model with generators' capability constraints under complete information was established. Then the methods to obtain the Cournot-Nash equilibrium states of all kinds of Coumot have been produced. When getting the optimal solution of the output of generation units, the units from the units bidding curves, the units bidding strategies can be obtained. At last, the units' income was analyzed.Integrated with the practice and aimed at the bidding methods for GENCOS in the incomplete information market, a Bayesian game model was established. Using the simplified parameter simulated the bidding process between the market members. Then a Bayesian-Nash equilibrium states was obtained. When getting the optimal solution of the output of generation units, the units from the units bidding curves, the units bidding strategies can be obtained.