Study On Bidding Strategy Of Generation Company With Evolutionary Game Theory Based On Repast Platform

In the environment of electricity market, generation company's income, to a large extent, depends on the bidding strategy it uses. The generation companies have a limited rationality, while the strategy of them influence each other, so the competition among participants can be seen as the generation companies'continuously adjusting and optimizing their own strategy to achieve a balanced state of game process. This paper presents model to the bidding process of generation companies based on evolutionary game theory, and analyzes the influence on generation companies'bidding strategy under different conditions of market demand,the price-cap and bidding mechanism. The model is carried out on RePast simulation platform, and the results show that the evolutionary game model of generation company fully reflects the dynamic process, thereby generation company can analyze the trend of bidding strategy of its competitors and adjust its bidding strategy to seek the maximum income.