Title :
Market Power Assessment and Mitigation in Hydrothermal Systems
Author :
Kelman, R. ; Barroso, L. A. N. ; Pereira, M. V.
Author_Institution :
Power Systems Research Inc., Rio de Janeiro, Brazil
Abstract :
The objective of this paper is to investigate market power issues in bid-based hydrothermal scheduling. Initially, market power is simulated with a single-stage Nash-Cournot equilibrium model. Market power assessment for multiple stages is then carried through a stochastic dynamic programming scheme. The decision in each stage and state is the equilibrium of a multi-agent game. Thereafter, mitigation measures, specially bilateral contracts, are investigated. Case studies with data taken from the Brazilian system are presented and discussed.
Keywords :
Condition monitoring; Equations; Intelligent agent; Jacobian matrices; Load flow; Multiagent systems; Power markets; Power system modeling; Power system simulation; Turbines; Game theory; hydroelectric-thermal power generation; power generation economics;
Journal_Title :
Power Engineering Review, IEEE
DOI :
10.1109/MPER.2001.4311542