Evolving cooperative bidding strategies in a power market

Srinivasan, Dipti; Woo, Dakun

doi:10.1007/s10489-007-0050-6

Cited by 7 publications

(5 citation statements)

References 10 publications

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“…Furthermore, the alliance strategy was studied in [20] and proved that buyers could reduce the costs by the number of members. In [21], different game scenarios are simulated individually or in collaboration and the results indicate that there is a good cooperation between the members.…”

Section: Literature Reviewmentioning

confidence: 99%

Optimal coalition formation and maximum profit allocation for distributed energy resources in smart grids based on cooperative game theory

Moafi

Ardeshiri

Mudiyanselage

et al. 2023

International Journal of Electrical Power & Energy Systems

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Section: Literature Reviewmentioning

confidence: 99%

Optimal coalition formation and maximum profit allocation for distributed energy resources in smart grids based on cooperative game theory

Moafi

Ardeshiri

Mudiyanselage

et al. 2023

International Journal of Electrical Power & Energy Systems

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“…Researchers also find that various coalitions may be formed in a cooperative game and cooperation with other participants is an effective measure to improve the competitiveness of retailers in a restructured EM. Srinivasan et al [77] develop an evolutionary algorithm to generate cooperative strategies for the individual buyers in a competitive power market. Specifically, the buyers cooperate with each other to lower their costs by using an evolutionary algorithm that evolves the group sizes and memberships.…”

Section: ) Power Dr Between Electricity User Side and Electricity Sementioning

confidence: 99%

“…Specifically, the buyers cooperate with each other to lower their costs by using an evolutionary algorithm that evolves the group sizes and memberships. The methods developed in [77] also suitable for bigger networks and a larger number of sellers and buyers, and can encourage power buyers to cooperate and mitigate the market power of wholesale sellers. Wang et al [78] propose a microgrid operation strategy that implements TOU when the demand-side user appropriately transfers the load, which is used to maximize the microgrid revenue and optimize reliability.…”

Section: ) Power Dr Between Electricity User Side and Electricity Sementioning

confidence: 99%

Game-Theoretic Approaches Applied to Transactions in the Open and Ever-Growing Electricity Markets From the Perspective of Power Demand Response: An Overview

Cheng

2019

IEEE Access

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This paper conducts a detailed overview on game-theoretic approaches for power demand response (DR) in the open and ever-growing electricity market (EM) in terms of three major categories of games, including non-cooperative game, cooperative game, and evolutionary game. In addition, we also separately review the Stackelberg game and Bayesian game in power DR. First, we briefly describe the main contents of game theory and the game behaviors of the electricity sellers, electricity suppliers, and electricity users in EM. Second, we comprehensively introduce the principle of the above-mentioned five categories of games and thoroughly review their applications in power DR in the context of open EMs, considering the transactions such as electricity pricing and electricity capacity trading among the electricity supplier side, electricity seller side, and electricity user side in the perfect open EMs, such as retail market, spot market, wholesale market, and ancillary service market. In this survey, aiming at each type of game mentioned above, we try to summarize the advantages and shortcomings of their application in EM in terms of power DR, as well as the issues that need to be solved currently or in the future. Finally, we offer some prospects on the scenario application and future development of game-theoretic approaches for power DR in an open EM. The biggest innovation of this paper lies in conducting a comprehensive survey on game-theoretic approaches applied to transactions in the open and ever-growing EMs from the perspective of power DR in terms of five major categories of games. We conduct this survey intended to arouse the interest and excitement of experts and scholars in the energy and electric power system industry and to look ahead to efforts that jointly promote the rapid development of game theory in the perfect open EM field.

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“…6) is firstly carried out with serial and parallel processing respectively, and comparison with the PowerWorld Simulator (PWS) software [29] is also made. PWS is an interactive power system simulation package, which contains a highly effective power flow analysis package capable of efficiently solving systems of up to 250000 buses, and is widely used in many fields like economic dispatch [30], optimal power flow [31], power market simulation [32], and so on. Here, PFT scanning analysis with N-1 outages is considered.…”

Section: Case 1: Ieee 39 Bus Reference Power Systemmentioning

confidence: 99%

A modular parallelization framework for power flow transfer analysis of large-scale power systems

Cheng

Luo

Shen

et al. 2017

J. Mod. Power Syst. Clean Energy

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Power flow transfer (PFT) analysis under various anticipated faults in advance is important for securing power system operations. In China, PSD-BPA software is the most widely used tool for power system analysis, but its input/output interface is easily adapted for PFT analysis, which is also difficult due to its computationally intensity. To solve this issue, and achieve a fast and accurate PFT analysis, a modular parallelization framework is developed in this paper. Two major contributions are included. One is several integrated PFT analysis modules, including parameter initialization, fault setting, network integrity detection, reasonableness identification and result analysis. The other is a parallelization technique for enhancing computation efficiency using a Fork/Join framework. The proposed framework has been tested and validated by the IEEE 39 bus reference power system. Furthermore, it has been applied to a practical power network with 11052 buses and 12487 branches in the Yunnan Power Grid of China, providing decision support for large-scale power system analysis.

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Evolving cooperative bidding strategies in a power market

Cited by 7 publications

References 10 publications

Optimal coalition formation and maximum profit allocation for distributed energy resources in smart grids based on cooperative game theory

Optimal coalition formation and maximum profit allocation for distributed energy resources in smart grids based on cooperative game theory

Game-Theoretic Approaches Applied to Transactions in the Open and Ever-Growing Electricity Markets From the Perspective of Power Demand Response: An Overview

A modular parallelization framework for power flow transfer analysis of large-scale power systems

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