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arXiv · 2006.03618

Coordinated Transaction Scheduling in Multi-Area Electricity Markets: Equilibrium and Learning

Mariola Ndrio·Subhonmesh Bose·Lang Tong·Ye Guo
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Abstract

Tie-line scheduling in multi-area power systems in the US largely proceeds through a market-based mechanism called Coordinated Transaction Scheduling (CTS). We analyze this market mechanism through a game-theoretic lens. Our analysis characterizes the effect of market liquidity, market participants' forecasts about inter-area price spreads, transactions fees and coupling of CTS markets with up-to-congestion virtual transactions. Using real data, we empirically verify that CTS bidders can employ simple learning algorithms to discover Nash equilibria that support the conclusions drawn from equilibrium analysis.

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BibTeXRIS

Mariola Ndrio, Subhonmesh Bose, Lang Tong, Ye Guo. 2020-06-05. Coordinated Transaction Scheduling in Multi-Area Electricity Markets: Equilibrium and Learning. https://arxiv.org/abs/2006.03618

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