Author(s)

Ziyi Wu ¹

Affiliation(s)

¹ College of Water Resources and Environment, Three Gorges University, Yichang 443000, China

Corresponding Author

Ziyi Wu

ABSTRACT

In the mode of direct power purchase transactions for large customers, improv- ing the efficiency of transactions is a prominent issue. The transaction volume and unit price in the electricity market belong to public information, which is the basis for negotiating the price between large users and power generators, and the final transaction price is lower than the market transaction price, which becomes the motivation for large users to choose to con- tinue the transaction. In the game on the transaction volume and transaction price, the expec- tations of both parties on the transaction price and the type of both parties belong to private information. In this paper, based on the knowledge of the static game with incomplete infor- mation, the conditions for transaction realization are constrained, the payment matrix is ex- pressed based on the consideration factors, the Bayesian Nash equilibrium model is established to design the offer strategy, and the expression of the optimal response strategy is finally given. 

KEYWORDS

Direct power purchase transaction model, private information, incomplete information static game, Bayesian Nash equilibrium

CITE THIS PAPER

Ziyi Wu, Exploring the strategy of direct power purchase transac- tions in the power market based on game theory. Information Systems and Economics (2022) Vol. 3: 1-6. DOI: http://dx.doi.org/10.23977/infse.2022.030301.

REFERENCES

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[4] Xia Wei, Lv Lin & Liu Peiqing, Study on the bilateral pricing game of equivalent electricity in direct power purchase transactions. Modern Electricity, 2015. 32(03): pp. 71-75.
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[6] Liu, X. F., Gao, B. T. & Li, Y., A review of research on the application of game theory to the demand side of electricity. Power Grid Technology, 2018. 42(08): pp. 2704-2711.
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