In this talk, we introduce a price-formation model for electricity markets where a large number of small players can store and trade electricity. Our model is a constrained mean-field game (MFG) where the price is a Lagrange multiplier for the supply vs. demand balance condition. Under mild conditions, we prove the uniqueness of the solution. Next, we examine some linear-quadratic models and finite-number of agent problems that have explicit solutions. Finally, we examine the well-posedness of the system and existence of solutions.
