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Conference Paper: Control theory application in power market stability analysis

TitleControl theory application in power market stability analysis
Authors
Liu, YNi, YXWu, FF
KeywordsMarket dynamics and stability
Negative feedback control system
One-order inertia system
Power market
Quantity bidding competition
Issue Date2004
PublisherIEEE.
Citation
International Conference on Electric Utility Deregulation and Restructuring and Power Technologies, Hong Kong, China, 5-8 April 2004, v. 2, p. 562-569 How to Cite?
DOI: http://dx.doi.org/10.1109/DRPT.2004.1338046
AbstractThis paper proposes a new framework to model the system dynamics and study the system stability for the quantity bidding competition in power market. From the viewpoint of control theory, the quantity bidding competition is modeled as close-loop dynamic system, where market price is the system feedback signal. Based on the objective of maximizing individual profit in a shot-game, a general dynamic process is given to describe supplier's adjustment behavior, which can be used to model all classical bidding strategy and CV-based bidding strategy. With the application of control theory, sufficient stability conditions and market equilibrium are presented. Computer test results support the analytic conclusion very well.
Persistent Identifierhttp://hdl.handle.net/10722/46419
References
References in Scopus

 

DC FieldValueLanguage
dc.contributor.authorLiu, Yen_HK
dc.contributor.authorNi, YXen_HK
dc.contributor.authorWu, FFen_HK
dc.date.accessioned2007-10-30T06:49:27Z-
dc.date.available2007-10-30T06:49:27Z-
dc.date.issued2004en_HK
dc.identifier.citationInternational Conference on Electric Utility Deregulation and Restructuring and Power Technologies, Hong Kong, China, 5-8 April 2004, v. 2, p. 562-569en_HK
dc.identifier.urihttp://hdl.handle.net/10722/46419-
dc.description.abstractThis paper proposes a new framework to model the system dynamics and study the system stability for the quantity bidding competition in power market. From the viewpoint of control theory, the quantity bidding competition is modeled as close-loop dynamic system, where market price is the system feedback signal. Based on the objective of maximizing individual profit in a shot-game, a general dynamic process is given to describe supplier's adjustment behavior, which can be used to model all classical bidding strategy and CV-based bidding strategy. With the application of control theory, sufficient stability conditions and market equilibrium are presented. Computer test results support the analytic conclusion very well.en_HK
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dc.format.mimetypetext/plain-
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dc.languageengen_HK
dc.publisherIEEE.en_HK
dc.relation.ispartofProceedings of the 2004 IEEE International Conference on Electric Utility Deregulation, Restructuring and Power Technologies (DRPT2004)en_HK
dc.rights©2004 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.-
dc.subjectMarket dynamics and stabilityen_HK
dc.subjectNegative feedback control systemen_HK
dc.subjectOne-order inertia systemen_HK
dc.subjectPower marketen_HK
dc.subjectQuantity bidding competitionen_HK
dc.titleControl theory application in power market stability analysisen_HK
dc.typeConference_Paperen_HK
dc.identifier.emailNi, YX: yxni@eee.hku.hken_HK
dc.identifier.emailWu, FF: ffwu@eee.hku.hken_HK
dc.identifier.authorityNi, YX=rp00161en_HK
dc.identifier.authorityWu, FF=rp00194en_HK
dc.description.naturepublished_or_final_versionen_HK
dc.identifier.doi10.1109/DRPT.2004.1338046en_HK
dc.identifier.scopuseid_2-s2.0-8644271812en_HK
dc.identifier.hkuros89865-
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-8644271812&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume2en_HK
dc.identifier.spage562en_HK
dc.identifier.epage569en_HK
dc.identifier.scopusauthoridLiu, Y=22835324100en_HK
dc.identifier.scopusauthoridNi, YX=7402910021en_HK
dc.identifier.scopusauthoridWu, FF=7403465107en_HK

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