Study on bidding strategies of power producers

The bidding strategies of the generation companies in electricity markets is a research hotspot which requires applications of game theory. This paper reviews the research status of bidding strategies of power suppliers and the pricing rules in electricity markets. The paper is mainly composed of two parts. The first part is to introduce the bidding models of power producers based on the oligopoly game models and auction theory. The second part focuses on the pricing rules with uniform market clearing mechanism, which provides four kinds of pricing rules. In the end, the conclusions and prospects of the paper are presented.