Evolutionary computation enabled game theory based modelling of electricity market behaviours and applications

Yin, J., Chen, W. and Li, Y. (2007) Evolutionary computation enabled game theory based modelling of electricity market behaviours and applications. In: IEEE Congress on Evolutionary Computation, 2007, Singapore, 25-28 Sept 2007, pp. 1896-1903. (doi: 10.1109/CEC.2007.4424705)

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.

• Item Type: Conference Proceedings
• Status: Published
• Refereed: Yes
• Glasgow Author(s) Enlighten ID: Li, Professor Yun
• Authors: Yin, J., Chen, W., and Li, Y.
• Subjects: Q Science > QA Mathematics > QA75 Electronic computers. Computer science
• College/School: College of Science and Engineering > School of Engineering > Electronics and Nanoscale Engineering
• First Published: First published in IEEE Congress on Evolutionary Computation, 2007: 1896-1903
• Publisher Policy: Reproduced in accordance with the copyright policy of the publisher