Title :
Equilibrium market power modeling for large scale power systems
Author :
Hobbs, Benjamin F. ; Helman, Udi ; Pang, Jong-Shi
Author_Institution :
Johns Hopkins Univ., Baltimore, MD, USA
Abstract :
A review of economic equilibrium models for simulating imperfect competition among electricity producers is presented in this paper. The presentation emphasizes the application of a model using a linearized DC grid is formulated using the concept of Cournot and supply-function games, and the resulting models are solved as a linear complementarity program (LCP). Both POOLCO and bilateral-type markets can be simulated. Properties of the solutions are to these models are analyzed. The paper includes applications to the Eastern Interconnection that explore how transmission limitations and possible mergers might affect the equilibrium prices and market shares calculated by the model.
Keywords :
electricity supply industry; game theory; power system economics; power system interconnection; tariffs; economic equilibrium models; electricity producers; equilibrium market power modeling; imperfect competition simulation; large scale power systems; Context modeling; Corporate acquisitions; Large-scale systems; Power generation; Power generation economics; Power markets; Power system economics; Power system modeling; Power system simulation; Predictive models;
Conference_Titel :
Power Engineering Society Summer Meeting, 2001
Conference_Location :
Vancouver, BC, Canada
Print_ISBN :
0-7803-7173-9
DOI :
10.1109/PESS.2001.970095
