This paper presents a bidding model based on a two-stage electricity market structure to solve the bidding difficulties which emerging retail companies would face under the Spread-Rebate mechanism. In order to increase the market efficiency while reduce the risk of retailers, a general retailer agent, surrogate for all retailers, is modeled as the only buyer in the market who distributes the spread tariff among retailers after market clearing. In the upper stage, a bilateral Bayesian game model with asymmetric information between the generation companies and the general retailer agent is structured, whereas in the lower stage, a decision-making model with demand side elasticity for retail companies is built. Finally, an illustrative simple example is given to demonstrate the viability and effectiveness of the proposed method.

A game-theoretic model for retail companies under the spread-rebate mechanism / Wu, H.; Lei, X.; Huang, T.; He, J.. - In: DIANLI XITONG BAOHU YU KONGZHI. - ISSN 1674-3415. - 47:12(2019), pp. 84-92. [10.19783/j.cnki.pspc.180870]

A game-theoretic model for retail companies under the spread-rebate mechanism

Huang T.;
2019

Abstract

This paper presents a bidding model based on a two-stage electricity market structure to solve the bidding difficulties which emerging retail companies would face under the Spread-Rebate mechanism. In order to increase the market efficiency while reduce the risk of retailers, a general retailer agent, surrogate for all retailers, is modeled as the only buyer in the market who distributes the spread tariff among retailers after market clearing. In the upper stage, a bilateral Bayesian game model with asymmetric information between the generation companies and the general retailer agent is structured, whereas in the lower stage, a decision-making model with demand side elasticity for retail companies is built. Finally, an illustrative simple example is given to demonstrate the viability and effectiveness of the proposed method.
File in questo prodotto:
Non ci sono file associati a questo prodotto.
Pubblicazioni consigliate

Caricamento pubblicazioni consigliate

I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.

Utilizza questo identificativo per citare o creare un link a questo documento: http://hdl.handle.net/11583/2859315