IDEAS home Printed from https://ideas.repec.org/a/gam/jeners/v18y2025i8p2006-d1634203.html
   My bibliography  Save this article

Equilibrium Analysis of Electricity Market with Multi-Agents Considering Uncertainty

Author

Listed:
  • Zhonghai Sun

    (School of Automation, Guangdong University of Technology, Guangzhou 510006, China)

  • Runyi Pi

    (School of Materials and Energy, Guangdong University of Technology, Guangzhou 510006, China)

  • Junjie Yang

    (School of Automation, Guangdong University of Technology, Guangzhou 510006, China)

  • Chao Yang

    (School of Automation, Guangdong University of Technology, Guangzhou 510006, China)

  • Xin Chen

    (School of Automation, Guangdong University of Technology, Guangzhou 510006, China)

Abstract

The engagement of emerging market participants in electricity markets exerts dual influences on price formation mechanisms and operational dynamics. To quantify the impacts on locational marginal prices and stakeholders’ economic interests when EV aggregators (EVAs), cloud energy storage operators (CESSOs), and load aggregators (LAs) collectively participate in market competition, this study develops a bi-level game-theoretic framework for market equilibrium analysis. The proposed architecture comprises two interdependent layers: The upper-layer Stackelberg game coordinates strategic interactions among EVA, LA, and CESSO to mitigate bidding uncertainties through cooperative mechanisms. The lower-layer non-cooperative Nash game models competition patterns to determine market equilibria under multi-agent participation. A hybrid solution methodology integrating nonlinear complementarity formulations with genetic algorithm-based optimization was developed. Extensive numerical case studies validate the methodological efficacy, demonstrating improvements in solution optimality and computational efficiency compared to conventional approaches.

Suggested Citation

  • Zhonghai Sun & Runyi Pi & Junjie Yang & Chao Yang & Xin Chen, 2025. "Equilibrium Analysis of Electricity Market with Multi-Agents Considering Uncertainty," Energies, MDPI, vol. 18(8), pages 1-20, April.
    • Handle: RePEc:gam:jeners:v:18:y:2025:i:8:p:2006-:d:1634203
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/1996-1073/18/8/2006/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/1996-1073/18/8/2006/
    Download Restriction: no
    ---><---

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jeners:v:18:y:2025:i:8:p:2006-:d:1634203. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.