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Article: Impacts of network constraints on electricity market equilibrium

TitleImpacts of network constraints on electricity market equilibrium
Authors
KeywordsElectricity markets
Nash equilibrium
Optimal response curve
Strategic bidding
Issue Date2007
PublisherI E E E. The Journal's web site is located at http://ieeexplore.ieee.org/xpl/RecentIssue.jsp?punumber=59
Citation
Ieee Transactions On Power Systems, 2007, v. 22 n. 1, p. 126-135 How to Cite?
AbstractNash equilibrium is usually used as the solution of generator's strategic bidding in electricity markets. The available literature has shown by simulation that multiple market equilibria or no pure equilibrium may be induced after the inclusion of network constraints (transmission constraints). This paper presents a systematical analysis for the impacts of network constraints on the market equilibrium in oligopolistic electricity markets. In our modeling, the independent system operator (ISO) dispatches generation and determines nodal prices via solving an optimal power flow (OPF); and the individual generator optimizes its submitted supply function with Nash-supply function equilibrium (SFE) strategy, after taking into account ISO's decision-making process on dispatched generations and nodal prices. The conditions for the existence of equilibrium are given, and it is shown that there may be multiple equilibria or no pure Nash equilibrium. The equilibrium, if it exists, will be at a point where generators pay no congestion charge. © 2007 IEEE.
Persistent Identifierhttp://hdl.handle.net/10722/44792
ISSN
2015 Impact Factor: 3.342
2015 SCImago Journal Rankings: 4.126
ISI Accession Number ID
References

 

DC FieldValueLanguage
dc.contributor.authorLiu, Yen_HK
dc.contributor.authorWu, FFen_HK
dc.date.accessioned2007-10-30T06:10:20Z-
dc.date.available2007-10-30T06:10:20Z-
dc.date.issued2007en_HK
dc.identifier.citationIeee Transactions On Power Systems, 2007, v. 22 n. 1, p. 126-135en_HK
dc.identifier.issn0885-8950en_HK
dc.identifier.urihttp://hdl.handle.net/10722/44792-
dc.description.abstractNash equilibrium is usually used as the solution of generator's strategic bidding in electricity markets. The available literature has shown by simulation that multiple market equilibria or no pure equilibrium may be induced after the inclusion of network constraints (transmission constraints). This paper presents a systematical analysis for the impacts of network constraints on the market equilibrium in oligopolistic electricity markets. In our modeling, the independent system operator (ISO) dispatches generation and determines nodal prices via solving an optimal power flow (OPF); and the individual generator optimizes its submitted supply function with Nash-supply function equilibrium (SFE) strategy, after taking into account ISO's decision-making process on dispatched generations and nodal prices. The conditions for the existence of equilibrium are given, and it is shown that there may be multiple equilibria or no pure Nash equilibrium. The equilibrium, if it exists, will be at a point where generators pay no congestion charge. © 2007 IEEE.en_HK
dc.format.extent469738 bytes-
dc.format.extent12538 bytes-
dc.format.mimetypeapplication/pdf-
dc.format.mimetypetext/plain-
dc.languageengen_HK
dc.publisherI E E E. The Journal's web site is located at http://ieeexplore.ieee.org/xpl/RecentIssue.jsp?punumber=59en_HK
dc.relation.ispartofIEEE Transactions on Power Systemsen_HK
dc.rightsCreative Commons: Attribution 3.0 Hong Kong License-
dc.rights©2007 IEEE. Personal use of this material is permitted. However, permission to reprint/republish this material for advertising or promotional purposes or for creating new collective works for resale or redistribution to servers or lists, or to reuse any copyrighted component of this work in other works must be obtained from the IEEE.en_HK
dc.subjectElectricity marketsen_HK
dc.subjectNash equilibriumen_HK
dc.subjectOptimal response curveen_HK
dc.subjectStrategic biddingen_HK
dc.titleImpacts of network constraints on electricity market equilibriumen_HK
dc.typeArticleen_HK
dc.identifier.openurlhttp://library.hku.hk:4550/resserv?sid=HKU:IR&issn=0885-8950&volume=22&issue=1&spage=126&epage=135&date=2007&atitle=Impacts+of+Network+Constraints+on+Electricity+Market+Equilibriumen_HK
dc.identifier.emailWu, FF: ffwu@eee.hku.hken_HK
dc.identifier.authorityWu, FF=rp00194en_HK
dc.description.naturepublished_or_final_versionen_HK
dc.identifier.doi10.1109/TPWRS.2006.889083en_HK
dc.identifier.scopuseid_2-s2.0-33947313685en_HK
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-33947313685&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume22en_HK
dc.identifier.issue1en_HK
dc.identifier.spage126en_HK
dc.identifier.epage135en_HK
dc.identifier.isiWOS:000243914400014-
dc.publisher.placeUnited Statesen_HK
dc.identifier.scopusauthoridLiu, Y=22835324100en_HK
dc.identifier.scopusauthoridWu, FF=7403465107en_HK

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