Open Access   Article

Game Theory Approch on The Decision Making Process for Defining Obtainable Prices At Generator Side in A Deregulated Environment

A.I. Modi1 , T.V. RABARI2

Section:Research Paper, Product Type: Journal Paper
Volume-6 , Issue-12 , Page no. 54-56, Dec-2018

CrossRef-DOI:   https://doi.org/10.26438/ijcse/v6i12.5456

Online published on Dec 31, 2018

Copyright © A.I. Modi, T.V. RABARI . This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

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Citation

IEEE Style Citation: A.I. Modi, T.V. RABARI, “Game Theory Approch on The Decision Making Process for Defining Obtainable Prices At Generator Side in A Deregulated Environment”, International Journal of Computer Sciences and Engineering, Vol.6, Issue.12, pp.54-56, 2018.

MLA Style Citation: A.I. Modi, T.V. RABARI "Game Theory Approch on The Decision Making Process for Defining Obtainable Prices At Generator Side in A Deregulated Environment." International Journal of Computer Sciences and Engineering 6.12 (2018): 54-56.

APA Style Citation: A.I. Modi, T.V. RABARI, (2018). Game Theory Approch on The Decision Making Process for Defining Obtainable Prices At Generator Side in A Deregulated Environment. International Journal of Computer Sciences and Engineering, 6(12), 54-56.

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Abstract

For a Deregulated system we assume all Pool participants use a price curve, rather than a cost curve, to exchange the power. Participants think about market prices for which they can maximize their profit, while Pool coordinators try to maximize the system-wide benefits. Using constrained economic dispatch, Pool benefits will be maximized when all participants trade THE power at marginal cost, as participants try to maximize their own benefits, they may either decrease their bids in order to retail more power or increase the price in order to make more profit.

Key-Words / Index Term

Deregulated system, Pool coordinators Formatting, payoff matrix, UI rate, marginal cost

References

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