Profit allotment of IPPs in retail electric market based on cooperative game theory

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In the retail market, if an independent power producer (IPP) can obtain its maximum profit through collaborating with others to form a coalition, it will prefer to collaborate to form this coalition rather than to participate individually. In this paper, the authors discuss the cooperation of IPPs in the retail market and give a formulation about the calculation of IPP's profits. based on game theory, they propose a method to decide the profit allocation to each IPP in the coalitions. Through comparing the results between noncooperative games and cooperative games on a test system, the principle that cooperation is better than competition for IPPs is verified and the feasibility of the proposed method is demonstrated.

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