Title :
Strategic bidding in an optimal power flow electricity market
Author :
Rourke, Shane ; O´Malley, Mark ; Miyakawa, Kado ; Liu, Chen-Ching
Author_Institution :
Dept. of Electron. & Electr. Eng., Univ. Coll. Dublin, Ireland
Abstract :
Strategic bidding to take advantage of global or local market power is a concern in many of the new electricity markets. Here the characteristics of the optimal power flow (OPF) market-clearing paradigm are studied analytically and by simulation. Although it is shown that the OPF algorithm is vulnerable to strategic behavior there is a self-regulating mechanism, which limits the abuses. Gaming by selectively congesting a particular transmission line is shown to be possible under the assumption of perfect information.
Keywords :
load flow; power markets; power system simulation; power transmission lines; strategic planning; OPF; OPF algorithm; congestion management; electricity market; gaming transmission constraints; market-clearing paradigm; optimal power flow; self-regulating mechanism; strategic behavior; strategic bidding; transmission line; Analytical models; Consumer electronics; Costs; Electricity supply industry; Energy management; Load flow; Mesh generation; Power system management; Power transmission lines; User centered design;
Conference_Titel :
Power Tech Conference Proceedings, 2003 IEEE Bologna
Print_ISBN :
0-7803-7967-5
DOI :
10.1109/PTC.2003.1304606
