Title :
Assessing local market power and mitigation in LMP-based electricity markets
Author :
Hildebrandt, Eric ; Hsu, Ming ; Yang, Dan
Author_Institution :
Dept. of Market Monitoring, California Indep. Syst. Operator, Folsom, CA
Abstract :
The potential effectiveness of market rules to mitigate local market power in a nodal LMP-based electricity market is discussed and examined in a case study. A payoff matrix approach is used to assess the unilateral market power of individual suppliers, and the potential for non-competitive market outcomes due to duopolistic bidding conditions.
Keywords :
matrix algebra; power markets; power system economics; LMP-based electricity markets; duopolistic bidding conditions; local market power; payoff matrix approach; Electricity supply industry; Energy management; Forward contracts; Nash equilibrium; Power generation; Power supplies; Power system management; Power system modeling; Pricing; Signal processing; Locational Marginal Pricing; Market Power; Nash Equilibrium; Payoff Matrix;
Conference_Titel :
Power and Energy Society General Meeting - Conversion and Delivery of Electrical Energy in the 21st Century, 2008 IEEE
Conference_Location :
Pittsburgh, PA
Print_ISBN :
978-1-4244-1905-0
Electronic_ISBN :
1932-5517
DOI :
10.1109/PES.2008.4596574
