DocumentCode :
3253421
Title :
A two stage stochastic equilibrium model for electricity markets with forward contracts
Author :
Zhang, Dali ; Kim, Sujin
Author_Institution :
Dept. of Ind. & Syst. Eng., Nat. Univ. of Singapore, Singapore, Singapore
fYear :
2010
fDate :
14-17 June 2010
Firstpage :
194
Lastpage :
199
Abstract :
This paper investigates a two stage equilibrium model for generators´ strategic behaviors in contract signing in the forward market and electricity bidding in the electricity spot market. We propose a linear asymmetric supply function equilibrium model to develop generators´ optimal bidding strategies considering a forward market equilibrium in the second stage, and show the existence and uniqueness of the two stage stochastic equilibrium. In the numerical test, we present some stability analysis on the impacts of a set of factors on the market clearing price in the spot market and strike price in the forward market.
Keywords :
contracts; power markets; power system economics; power system stability; electricity bidding; electricity markets; electricity spot market; forward contracts; generator strategic behaviors; linear asymmetric supply function equilibrium; stability analysis; stochastic equilibrium model; Electricity supply industry; Electricity supply industry deregulation; Forward contracts; Gallium nitride; Mathematical model; Oligopoly; Power generation; Power system modeling; Stochastic processes; Stochastic systems; electricity markets; forward contracts; supply functions;
fLanguage :
English
Publisher :
ieee
Conference_Titel :
Probabilistic Methods Applied to Power Systems (PMAPS), 2010 IEEE 11th International Conference on
Conference_Location :
Singapore
Print_ISBN :
978-1-4244-5720-5
Type :
conf
DOI :
10.1109/PMAPS.2010.5528998
Filename :
5528998
Link To Document :
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