NDLI: Optimal hierarchical allocation in deregulated electricity market under PSP auction mechanism

Content Provider	IEEE Xplore Digital Library
Author	Zhongjing Ma Yingying Cui
Copyright Year	2014
Description	Author affiliation: Sch. of Autom., Nat. Key Lab. of Complex Syst. Intell. Control & Decision (BIT), Beijing, China (Zhongjing Ma; Yingying Cui)
Abstract	In hierarchical electricity market, the retailers buy electricity from generation provider and then sell it to users. Retailers play an important role in the distribution channel by matching supply and demand, but they also potentially cause inefficiencies in electricity allocation. To induce an efficient allocation of electricity, we propose a novel hierarchical distributed method under PSP auction mechanism. Under this mechanism, each of players, either the generation provider or the retailers, obtains their electricity allocation through the PSP auction method by submitting a multi-dimensional bid profile, instead of telling their private cost or valuation function, then the retailers economically distribute the electricity, acquired in the PSP auction, among users. Moreover, the valuation function of retailers depends on the revenues that they sell the electricity to users. As a main result, in this paper we show that there exists an efficient Nash equilibrium (NE) for the underlying auction games.
Starting Page	2256
Ending Page	2261
File Size	182037
Page Count	6
File Format	PDF
ISBN	9781479937073
e-ISBN	9781479937080
DOI	10.1109/CCDC.2014.6852545
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2014-05-31
Publisher Place	China
Access Restriction	Subscribed
Rights Holder	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subject Keyword	Electricity PSP auction mechanism Efficient allocation Games Deregulated electricity market Electricity supply industry Educational institutions Nash equilibrium Resource management Hierarchical allication Cost accounting Optimization
Content Type	Text
Resource Type	Article

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1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
2	Indian Institute of Technology Kharagpur	Host Institute of the Project: The host institute of the project is responsible for providing infrastructure support and hosting the project	https://www.iitkgp.ac.in
3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
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