DocumentCode :
2907168
Title :
Dynamic Game Model for Deregulated Electricity Markets Considering the Ramp Rate Constraints
Author :
Joung, Manho
Author_Institution :
Univ. of Texas at Austin, Austin
fYear :
2007
fDate :
5-8 Nov. 2007
Firstpage :
1
Lastpage :
5
Abstract :
In this paper, we investigate how generators´ ramp rate constraints may influence generators´ equilibrium strategy formulation. In the market model, generators´ ramp rate constraints are explicitly represented. In order to fully characterize the inter-temporal nature of the ramp rate constraints, a dynamic game model is presented. The subgame perfect Nash equilibrium is adopted as the solution of the game and the backward induction procedure is designed. Due to the inter-temporal nature of the ramp rate constraints, the subgame perfect Nash equilibrium strategy should be a Markov strategy. This, in turn, suggests that the subgame perfect Nash equilibrium of the proposed game should be characterized as the Markov perfect equilibrium. Finally, two examples including a simple discrete strategy example and a numerical illustration of applying the proposed approach are presented.
Keywords :
Markov processes; electric generators; power markets; Markov strategy; Nash equilibrium; backward induction procedure; dynamic game model; electricity markets; equilibrium strategy formulation; generator; ramp rate constraints; Constraint theory; Contracts; Electricity supply industry; Electricity supply industry deregulation; Induction generators; Nash equilibrium; Power generation; Power generation economics; Power transmission lines; Transmission line theory; Electricity markets; Markov perfect equilibrium; dynamic game theory; ramp rate constraints; subgame perfect Nash equilibrium;
fLanguage :
English
Publisher :
ieee
Conference_Titel :
Intelligent Systems Applications to Power Systems, 2007. ISAP 2007. International Conference on
Conference_Location :
Toki Messe, Niigata
Print_ISBN :
978-986-01-2607-5
Electronic_ISBN :
978-986-01-2607-5
Type :
conf
DOI :
10.1109/ISAP.2007.4441640
Filename :
4441640
Link To Document :
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