Author(s)

Sijia Shen ¹

Affiliation(s)

¹ Zhejiang Windey Co.,Ltd., Hangzhou, 310012, Zhejiang, China

Corresponding Author

Sijia Shen

ABSTRACT

Deepening the reform of the electricity market and increasing the permeability of new energy gradually reduce the generating space of conventional power sources in the electricity market, which requires more flexible regulation functions, and puts forward higher requirements for the bidding strategy of thermal power generation enterprises. It is necessary to formulate countermeasures to adapt to the policy requirements and market competition mechanism of thermal power units with different technical characteristics, to achieve sustainable transformation and sound development. In this paper, a three-group, two-strategy evolutionary game model was constructed for three types of power generation enterprises with typical unit capacity in the current power generation market, and a multi-scenario analysis of strategy simulation was conducted under different new energy permeabilitys based on the data from the East China power market. The research results show that market clearing price, permeability of new energy, and technical characteristics of thermal power units have a greater impact on the bidding income of thermal power enterprises. In order to guide the efficient competition of thermal power units in the power market, the government and regulatory authorities should regulate the relative net payment parameters that best meet the expectations and formulate reasonable trading rules.

KEYWORDS

Evolutionary game theory, power generation market, thermal power unit bidding strategy

CITE THIS PAPER

Sijia Shen, Bidding Strategy of Thermal Power Enterprises Based on Evolutionary Game. Financial Engineering and Risk Management (2022) Vol. 5: 53-68. DOI: http://dx.doi.org/10.23977/ferm.2022.050508.

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