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2002•IEE Proceedings - Generation Transmission and DistributionRequires access

Application of the Shapley Value on transmission cost allocation in the competitive power market environment

X. Tan, Tek Tjing Lie

Open publisher page 89 citations

Abstract

The Shapley Value of cooperative game theory is proposed to allocate the transmission cost incurred to accommodate all the loads. This method overcomes the drawbacks of conventionally used methods, such as postage-stamp method and MW-miles method, and encouraging the economically optimal usage of the transmission facilities. The simulation results showed that the allocation solution met the requirements of an appropriate pricing strategy and generated the allocation solution that impartial observers would consider fair and desirable.

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What this paper is about

The Shapley Value of cooperative game theory is proposed to allocate the transmission cost incurred to accommodate all the loads. This method overcomes the drawbacks of conventionally used methods, such as postage-stamp method and MW-miles method, and encouraging the economically optimal usage of the transmission facilities. The simulation results showed that the allocation solution met the requirements of an appropriate pricing strategy and generated the allocation solution that impartial observers would consider fair and desirable.

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OpenAlex reports 89 citations for this work. Citation counts describe recorded attention and do not establish research quality.

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Available abstract

The Shapley Value of cooperative game theory is proposed to allocate the transmission cost incurred to accommodate all the loads. This method overcomes the drawbacks of conventionally used methods, such as postage-stamp method and MW-miles method, and encouraging the economically optimal usage of the transmission facilities. The simulation results showed that the allocation solution met the requirements of an appropriate pricing strategy and generated the allocation solution that impartial observers would consider fair and desirable.

Key concepts: Shapley value, Cost allocation, Cooperative game theory, Transmission (telecommunications), Game theory, Computer science, Value (mathematics), Mathematical optimization

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