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Game theoretic analysis of electricity markets

Student(en):

Betreuer:

Maryam Kamgarpour
Beschreibung:

Introduction
    The liberalized electricity markets enable participation of a large number of producers and consumers in these markets. A challenge is to optimize bidding strategies of the market participants, given uncertainties in renewable production, in behaviors of other market participants, and electricity prices. The goal of this project is to use a game theoretic approach to determine optimal bidding strategies of market participants.

Project Description
    The price of electricity depends on the aggregate production and consumption. Hence, from the perspective of each market participant, the optimization problem it needs to solve to maximize its profit is coupled with other participants' strategy. To take this into account, we model the electricity market as a game between a large number of players. Using tools from distributed optimization and game theory, we aim to analyze the optimal bidding strategies of each market participant. We validate our results using historic data on market prices.

Required Skills
    Differential equations, dynamical systems, control theory, linear system theory, Matlab.

Acquired Skills
    game theory, control theory, scientific writing, independent thinking.


Weitere Informationen
Professor:

Maryam Kamgarpour
Projektcharakteristik:

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Status: done
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