Title :
Evolutionary computation enabled game theory based modelling of electricity market behaviours and applications
Author :
Yin, Jin ; Chen, Wei ; Yun Li
Author_Institution :
Deloitte Consulting, Beijing
Abstract :
The collapse of the Californian electricity market system in 2001 has highlighted urgency in research in intelligent electricity trading systems and strategies involving both suppliers and customs. In their trading systems, power generation companies under the new electricity trading arrangement (NETA) of the UK are now developing gaming strategies. However, modelling of such "intelligent" market behaviours is extremely challenging, because traditional mathematical and computer modelling techniques cannot cope with the involvement of game theory. In this paper, evolutionary computation enabled modelling of such system is presented. Both competitive and cooperative game theory strategies are taken into account in evolving the intelligent model. The model then leads to intelligent trading strategy development and decision support. Experimental tests, verification and validation are carried out with various strategies, using different model scales and data published by NETA. Results show that evolutionary computation enabled game theory involved modelling and decision making provides an effective tool for NETA trading analysis, prediction and support.
Keywords :
decision support systems; evolutionary computation; game theory; power engineering computing; power markets; Californian electricity market system; New Electricity Trading Arrangement; cooperative game theory strategies; decision making; decision support; electricity market behaviours; evolutionary computation enabled game theory; gaming strategies; intelligent electricity trading systems; Competitive intelligence; Computational modeling; Electricity supply industry; Evolutionary computation; Game theory; Intelligent systems; Mathematical model; Power generation; Power markets; Power system modeling; NETA; electricity market; evolutionary computation; game theory;
Conference_Titel :
Evolutionary Computation, 2007. CEC 2007. IEEE Congress on
Conference_Location :
Singapore
Print_ISBN :
978-1-4244-1339-3
Electronic_ISBN :
978-1-4244-1340-9
DOI :
10.1109/CEC.2007.4424705