| Title |
Analysis of Price-Clearing in the Generation Bidding Competition |
| Keywords |
Game theory ; generation bidding competition ; price clearing ; strategic behavior ; mzximum capacity constraints |
| Abstract |
As deregulation evolves, pricing electricity becomes a major issue in the electric industry. Participants of competitive marketplace are able to improve their profits substantially by adequately pricing the electricity. In this paper, game theory is applied to analyze the price-clearing in the generation bidding competition and the competition is modeled as the noncooperative and complete information. The result of this analysis can be useful in understanding spot price-clearing of electricity and generating entity's strategic behavior in the competitive electricity market. |