Title :
Stochastic non-linear Nash Game in multi-zone electricity markets
Author :
Zeng Ci-ling ; Xie Pei-yuan
Author_Institution :
Hunan Electr. Power Dispatch & Commun. Bur., Changsha, China
Abstract :
A stochastic non-linear Nash game for all the players in multi-zone supply auctions is established in this paper. The bidding strategies of power suppliers in multi-zone energy markets are functions of their own generation costs as well as the bidding behaviors of their competitors. The effects of the uncertainty and the risk are considered in constructing the bid functions of power suppliers. Physical constraints of multi-zone power systems are considered in the model. Dynamic programming algorithm is used to solve the Nash Game problem. A simplified three-zone model is used as a case study. The numerical outcome shows that our model is feasible and applicable.
Keywords :
costing; dynamic programming; power generation economics; power markets; risk analysis; stochastic games; bid function; dynamic programming algorithm; generation cost; multizone electricity markets; power suppliers; risk analysis; stochastic nonlinear Nash game; three-zone model; uncertainty effects; Cost function; Dynamic programming; Electricity supply industry; Heuristic algorithms; Power generation; Power supplies; Power system dynamics; Power system modeling; Stochastic processes; Uncertainty; Nash game; bidding strategies; electricity markets; risk; uncertainty;
Conference_Titel :
Electricity Distribution, 2008. CICED 2008. China International Conference on
Conference_Location :
Guangzhou
Print_ISBN :
978-1-4244-3373-5
Electronic_ISBN :
978-1-4244-3372-8
DOI :
10.1109/CICED.2008.5211814
