13th Power Systems Computation Conference - PSCC 1999, Trondheim (Norway). 28 June - 02 July 1999
Summary:
Recent changes in the electricity industry in several countries have lead to less regulate and more competitive energy market where short term exchanges of electricity are based on the system marginal price. In this framework simulation models become a necessary tool to define the strategies of the generators. In imperfectly competitive markets this strategic behaviour appears, making the use of oligopoly theory necessary. This paper presents a simulation model to analyse the effect of different bidding strategies, possible regulatory decisions or some other issues affecting the market on the behaviour of the market agents, while handling the thermal and hydro constraints.
Keywords: Marginal price, iterative equilibrium, strategic behavior, technical and regulatory constraints.
Publication date: 1999-06-28.
Citation:
I. Otero-Novas, C. Meseguer, J. Alba, An iterative procedure for modelling strategic behaviour in competitive generation markets., 13th Power Systems Computation Conference - PSCC 1999, Trondheim (Norway). 28 June - 02 July 1999.
