X. Wang and X. Wang (PRC)
Power market, Bidding system, Game theory, Government regulation
The paper presents the problems encountered in bidding system of the electric power market of China. It is pointed out that generation market is an unstable market when electricity rate of customers is firmly controlled. Based on the game theory the paper discusses the influence of demand elasticity on market efficiency and performance. The necessity and possibility of the government regulation and control over power market are illustrated in the paper. At last, the paper suggests a framework of bidding system model for the power market in China.
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