Comparative analysis of game theory application to various types of auctions in electric markets

摘要

The various changes that have occurred in the electricity markets around the world have introduced competition among the participants in this sector. Thus, the generation agents that participate on electrical energy auctions may prefer to build optimal strategies to maximize their profits. Mathematical models based on game theory have been used in the analysis of electric energy markets and especially in electricity auctions. In this sense, this theory optimizes the decision-making process for setting prices offered by the generators to the system operator in a power auction. This paper deals with a comparative analysis of individual strategies of generating units, using a non-cooperative game theory approach and incomplete information on various types of auctions. A modified version of IEEE 57-bus test system is used to illustrate the main features of the auction models used.