Title :
Market power assessment and mitigation in hydrothermal systems
Author :
Kelman, Rafael ; Barroso, Luiz Augusto N ; Pereira, Mario Veiga F
Author_Institution :
Power Syst. Res. Inc., Rio de Janeiro, Brazil
fDate :
8/1/2001 12:00:00 AM
Abstract :
The objective of this work 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, especially bilateral contracts, are investigated. Case studies with data taken from the Brazilian system are presented and discussed
Keywords :
dynamic programming; electricity supply industry; hydrothermal power systems; power generation economics; power generation scheduling; stochastic programming; Brazilian power system; bid-based hydrothermal scheduling; bilateral contracts; game theory; hydrothermal systems; market power assessment; market power mitigation; multi-agent game; power generation economics; single stage Nash-Cournot equilibrium model; stochastic dynamic programming; Contracts; Cost function; Dynamic programming; Elasticity; Hydroelectric power generation; Hydroelectric-thermal power generation; Power generation economics; Power system modeling; Production; Stochastic processes;
Journal_Title :
Power Systems, IEEE Transactions on
