Title :
The Elements of Market Simulation
Author :
Wang, Hui-Fung Francis ; Rastgoufard, Parviz
Author_Institution :
Dept. of Electr. Eng. & Comput. Sci., Tulane Univ., New Orleans, LA
Abstract :
Transmission congestion problem in a deregulated market environment is elucidated by implementing the locational marginal pricing (LMP) method. New mathematical tools that aid market participants in exploring new business opportunities are developed in the market simulation. However, the complexity of the market simulation and the software implementation lead to different results which require extensive modeler´s judgments. Further research opportunities in market simulation are elaborated
Keywords :
mathematical analysis; power markets; power transmission economics; pricing; deregulated market environment; locational marginal pricing; market simulation; mathematical tools; software implementation; transmission congestion problem; Collision mitigation; Costs; Electricity supply industry; Electricity supply industry deregulation; Energy consumption; Energy management; ISO; Power generation; Power system simulation; Pricing;
Conference_Titel :
Transmission and Distribution Conference and Exhibition, 2005/2006 IEEE PES
Conference_Location :
Dallas, TX
Print_ISBN :
0-7803-9194-2
DOI :
10.1109/TDC.2006.1668715
