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

Mariola Ndrio, Subhonmesh Bose, Lang Tong, Ye Guo

Research output: Contribution to journalArticlepeer-review

Abstract

Tie-line scheduling in multi-area power systems in the United States 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 the market outcomes with CTS bidders, employing simple learning algorithms, support the conclusions from our equilibrium analysis of the games.

Original languageEnglish (US)
Pages (from-to)996-1008
Number of pages13
JournalIEEE Transactions on Power Systems
Volume38
Issue number2
DOIs
StatePublished - Mar 1 2023
Externally publishedYes

Keywords

  • Coordinated transaction scheduling
  • game theory
  • seams issues

ASJC Scopus subject areas

  • Energy Engineering and Power Technology
  • Electrical and Electronic Engineering

Fingerprint

Dive into the research topics of 'Coordinated Transaction Scheduling in Multi-Area Electricity Markets: Equilibrium and Learning'. Together they form a unique fingerprint.

Cite this