Research On Generation Companies' Multi-Period Optimal Bidding Strategies Basing On The Game-Theory

The Power industry worldwide is experiencing unprecedented restructuring for breaking traditional monopoly, introducing competition and establishing electricity markets. In the electricity market environment, for maximizing their profits, generation companies as independent economy entities need to submit their bidding strategies to market operators. In the new electricity market environments, profits of generation companies depend on a large extent, on bidding strategies employed. Hence, this dissertation focuses on the study of optimal bidding strategies of generation companies.Developing bidding curve of generation companies is bases on their cost curve. First, this paper presents the cost curve of units, and then base on the cost curves ,the method of developing bidding curves are presented.In this paper, generation companies build independency period of time optimal bidding strategies by the game-theory. And equate the other compete companies to be a equivalence generator. Using the prime-reflect function of the game-theory to working-out the Nash Equilibria. When the independency period of time equilibria occurs, we must take into account of the influence of the generator's startup-stop and the climbing of the units'output to modify the bidding strategies. And using the decision-making tree arithmetic in the economics to working-out the model of multi- period bidding strategies. At last an example testifies this method to making multi- period bidding strategies is in reason and feasible.From the generation companies and the Power-web detached, the hydraulic power companies are the other benefit principal part. So it's not right to unallowed the hydraulic power to participate in the bidding market. But in view of the particularity of the hydraulic power, to research how to make the waterpower participate in the bidding market is necessary. This paper is aiming to the particularities to establish a model for the hydraulic power to participate in the bidding market . This model is Basing on the demarcate cost and it lays a foundation for the future research.