A game theory-based pricing model for ancillary services in electricity markets DOI Creative Commons

Yang Wu,

X. R. Meng, Yuguo Chen

et al.

Applied Mathematics and Nonlinear Sciences, Journal Year: 2024, Volume and Issue: 9(1)

Published: Jan. 1, 2024

Abstract Amidst the ongoing evolution and substantial reforms within electric power market, development of an auxiliary service pricing model grounded in game theory emerges as crucial. This study delineates construction electricity model, utilizing a dual mechanism approach: cooperative game-based price formation Stackelberg time-sharing mechanism. Furthermore, it incorporates demand response technology to conduct detailed analysis optimization results applicability proposed model. The scheme designated Scheme 4, derived from demonstrates notable superiority terms economic efficiency environmental sustainability when juxtaposed with three alternative schemes. Specifically, 4 yields net profit $13,267.6, achieves clean energy utilization amounting 89.67 MWh, minimizes wind abandonment 17.35 outperforming all other considered scenarios these metrics. Operational reveals that model's execution time varies between 15 50 seconds across different sample sizes, exhibiting minimal fluctuations. Additionally, Monte Carlo simulations consistently produce values inferior objective function value developed discrepancy narrowing 38 20, indicating robust adaptability.

Language: Английский

Can digitalization alleviate China's energy poverty? Empirical investigation and mechanism analysis DOI Creative Commons
Miaomiao Tao, Zheng Yan, Sihong Wu

et al.

Environmental Impact Assessment Review, Journal Year: 2024, Volume and Issue: 109, P. 107634 - 107634

Published: Aug. 23, 2024

Language: Английский

Citations

8
Bilateral cooperation or complete autonomy? Research on the trade-in of NEV battery using a differential game with delay effect DOI
Chuan Zhao,

Ding Jia-hui,

Farhad Taghizadeh–Hesary

et al.

Energy Sustainable Development/Energy for sustainable development, Journal Year: 2025, Volume and Issue: 85, P. 101644 - 101644

Published: Jan. 6, 2025

Language: Английский

Citations

0
Recycling design and operations in various supply chain structures DOI
Minyoung Yea, Jiuh‐Biing Sheu, Seung Ho Yoo

et al.

Transportation Research Part E Logistics and Transportation Review, Journal Year: 2025, Volume and Issue: 201, P. 104226 - 104226

Published: June 5, 2025

Language: Английский

Citations

0
A game theory-based pricing model for ancillary services in electricity markets DOI Creative Commons

Yang Wu,

X. R. Meng, Yuguo Chen

et al.

Applied Mathematics and Nonlinear Sciences, Journal Year: 2024, Volume and Issue: 9(1)

Published: Jan. 1, 2024

Abstract Amidst the ongoing evolution and substantial reforms within electric power market, development of an auxiliary service pricing model grounded in game theory emerges as crucial. This study delineates construction electricity model, utilizing a dual mechanism approach: cooperative game-based price formation Stackelberg time-sharing mechanism. Furthermore, it incorporates demand response technology to conduct detailed analysis optimization results applicability proposed model. The scheme designated Scheme 4, derived from demonstrates notable superiority terms economic efficiency environmental sustainability when juxtaposed with three alternative schemes. Specifically, 4 yields net profit $13,267.6, achieves clean energy utilization amounting 89.67 MWh, minimizes wind abandonment 17.35 outperforming all other considered scenarios these metrics. Operational reveals that model's execution time varies between 15 50 seconds across different sample sizes, exhibiting minimal fluctuations. Additionally, Monte Carlo simulations consistently produce values inferior objective function value developed discrepancy narrowing 38 20, indicating robust adaptability.

Language: Английский

Citations

1