TRANSACTION ANALYSIS IN DEREGULATED POWER SYSTEMS USING GAME THEORY
Abstrace—The elecreic power industry is in transition to a deregulated marketplace for power transactions. In this environment,all power transactions are made based on price rather than cost.A regional power pool(we refer to it as a Pool throughout this paper)is noted as the most straightforward path to a deregulated electricity marketplace.However,manyuestions remain unanswered regarding the economics of Pool participation.In a deregulated energy marketplace,participants are interested in manimizing their own profits,regardless of the system-wide profits.It is perceived that the competition will reduce the price of elecritcity for retail customers,however,the key issue for participants is related with the price definition to remain competitive.In this paper,we use the game theory to simulate the decision making process for defining offered prices in a deregulated environment.The outcome of this study may be used by Pool coordinators to discourage unfair coalitions.A modified IEEE 30 bus system is used as a deregulated power pool to illustrate the main features of the proposed method.
Keywords—Power System Operation,Deregulated Power Pools,Spot Pricing,Game Theory,Network Constraints.
A Simulation Model for a Competitive Generation Market
Abstract—The simulation of a wholesale electricity market should go beyond a simple optimization based on the operating costs of the generating units.A model of a competitive electricity market must consider the market structure,the strategy of the market participants and any other factor that lead to prices different from costs.This paper presents COSMEE,a model of a wholesale electricity market based on simple bids,that cstimates expected bid prices and quantities,system hourly prices and generation schedules,taking into account the bidding strategies of geneators and the structure of the market.The model reflects the profit-maximizing behavior o the maket agents,subject to different types of constraints.COSMEE has been used to simulate a real wholesale market.
Index Terms—Agent’s behavior,intertemporal links,iterative equilibrium,marginal price,simple bids.