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has been cited by the following article:

• TITLE: The Research about the Trans-provincial Centralized Bidding Trading Market of East China Power Grid --II：Model Analysis

  AUTHORS: Bin Zou, Jie Fan, Xiao-Gang Li, Li-Bing Yang

  KEYWORDS: Power Market; Agent-based Simulation; East China Grid; Trans-provincial Centralized Trade; Partial Electricity Competition

  JOURNAL NAME: Engineering, Vol.5 No.1B, January 16, 2013

  ABSTRACT: In this paper a novel cost function based on the relationship between operation cost of unit and generation load rate is employed in an agent-based model of Trans-provincial Centralized Bidding Trading Market of East China Grid. Simulation results are compared to real data to prove that the model is correct. Further analysis on simulation results point out the way to achieve an all-win game for power market members: generation companies improve their average load rates of the units by selling their electricity in the market, which makes units' cost drop and settlement price stay lower than benchmark price. Consequently electricity-demand provinces saved expenses, and units increase their profits. In conclusion, the trans-provincial electricity market of East China Power Grid is a successive case which improves the efficiency of the electricity industry by market-oriented measures.