Author :
Wen, F.S. ; David, A.K.
Author_Institution :
Dept. of Electr. Eng., Hong Kong Polytech., Kowloon, China
fDate :
4/1/2001 12:00:00 AM
Abstract :
A method to predict the optimal energy production of a profit maximizing power producer in an oligopoly electricity market is presented. The cases where producers have incomplete information about the operating costs of rival producers are highlighted. Cournot noncooperative game theory is used to determine the oligopoly electricity market equilibrium state that corresponds to the optimal supply quantity of each power producer.
Keywords :
electric power generation; electricity supply industry; game theory; Cournot noncooperative game theory; incomplete information; oligopoly electricity market production; operating costs; optimal energy production; optimal supply quantity; power producer; profit maximizing power producer; Cost function; Electricity supply industry; Electricity supply industry deregulation; Equations; Game theory; Oligopoly; Power industry; Production; Uncertainty;
Journal_Title :
Power Engineering Review, IEEE
