Evaluation method for electricity market clearing model based on game theory and improved pagerank

Current clearing models of electricity market mainly include marginal clearing and high-low matching clearing. Clearing models may have influence on the structure of the electricity market and the bidding strategies of market participants. In this paper, two clearing models are introduced and an appraisement index system is proposed. The proposed evaluation method evaluates two clearing models from various aspects including market structure, market security, market economy, social welfare and environmental friendliness. First, it determines the comprehensive weight according to game theory, which avoids the one-sidedness caused by only using AHP or entropy method. In addition, for the reason that the traditional evaluation method neglects the influence among the indexes, an improved PageRank method is used to provide evaluation scheme, which considers the relationship among different indexes and obtains the transfer weights. Then the comprehensive weights can be revised to achieve a precise and reliable evaluation result. Finally, the monthly Northwest Shandong cross-regional electricity trading data of the centralized bidding is studied to prove the effectiveness of the proposed method. The case studies show that the appraisement index system can reflect the advantages and disadvantages of the two clearing models comprehensively and accurately.