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

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Document pages: 22 pages

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

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