Bidding Strategy Among Multi-party Electricity Sellers Based on Zero-Sum Game Theory in Complex Electricity Market Environment

With the continuous development of the electricity market and the intensification of competition, the price competition among electricity suppliers is becoming increasingly intense. This kind of competition not only significantly impacts the survival and development of power suppliers but also directly affects the interests of power users and the stability of the social economy. Therefore, understanding the price competition mechanism of the electricity market and predicting the price change trend is of great significance to the healthy development of the electricity market. This study uses the zero-sum game model in game theory to simulate the price competition between two electricity sellers in the electricity market. In our model, the response strategies of electricity retailers in the early and late stages significantly impact their final economic benefits. In addition, the demand pattern of electricity buyers and the response strategies of electricity sellers have an essential impact on the bidding results. This study provides a new perspective for understanding the price competition in the electricity market and provides valuable enlightenment for regulating and managing the electricity market.