6th International Conference on Probabilistic Methods Applied to Power Systems - PMAPS 2000, Funchal (Portugal). 25-28 September 2000
Summary:
This article introduces a new framework for the computation of the water value in competitive market systems. This framework is based on the assumption that oligopolistic utitlities behave as profit maximizing players, being their equilibrium strategies the Nash equilibrium. From a computational point of view, the proposed methodology resembles the well know dynamic programming algorithms. A small example is also presented.
Keywords: Power systems operation, profit maximization, medium-term hydrothermal scheduling, game theory
Publication date: 2000-09-25.
Citation:
J. Barquín, J. García-González, J. Román, Water value in competitive markets: dynamic programming and game theory, 6th International Conference on Probabilistic Methods Applied to Power Systems - PMAPS 2000, Funchal (Portugal). 25-28 September 2000.
