Optimal strategy of users' power consumption forecast based on repeated game model

Abstract

To prevent the power shortage phenomenon during electricity peak-demand period, utility companies may control the users' power consumption of this period by establishing a price-consumption function and a penalty system. Moreover, users may minimize their electricity expenditures through power consumption forecast strategy of day-ahead market under the new electricity price system. When it comes to entering into rivalry with other users over reasonable electricity price, we establish a repeated game model transforms dynamic game of incomplete information into the static of complete information, solve the equilibrium problem and obtain the optimal strategy. In addition, we also mention that one of the ways users take to reduce power consumption during the peak period is transferring load, avoiding the resulted instability of trough.