Abstract:

It leads to information asymmetry and thus affecting smoothly running of generation rights trade in the existing generation rights trading, because of excessively depending on a third trading institution which has difficult to understand and control the power plant operational status of the side selling （buying） generation right. Therefore, this paper designed a new generation trading model to reflect the interest needs of different generation trading side based on the stakeholder theory, which defined the rights of the parties and the order of the transaction implementation path, and resolved the information asymmetry using dynamic game. Then, this paper proposed the bidding strategies that could pursue the both interests to maximize and maintain the equilibrium of long-term game, based on the perspectives of expanding trading range and unifying transaction price. The empirical results show that the generation rights trade mode and its bidding strategy can help both parties to establish a long-term stable cooperative relation, improve the overall social utility, and save operating costs and energy consumption.

Key words: stakeholder, generation rights trade, incomplete information game, bidding strategy, social utility