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Oligopolistic Equilibrium Analysis for Electricity Markets: A Nonlinear Complementarity Approach.
- Source :
-
IEEE Transactions on Power Systems . Aug2004, Vol. 19 Issue 3, p1348-1355. 8p. - Publication Year :
- 2004
-
Abstract
- Ollgopolistic equilibrium models are widely used in electricity market analysis, among which the supply function equilibrium model has been chosen as the basis of many power market models. A nonlinear complementarity approach has been proposed in this paper to calculate the Nash supply function equilibrium for a bid-based-pool generation market with a dc transmission model, A mixed nonlinear complementarity problem (NCP) is presented by combining the Karush-Kuhn-Tucker conditions of all strategic generating firms. Using a special nonlinear complementarity function, the mixed NCP is reformulated as a set of nonlinear algebraic equations and thus can be. solved by an inexact Levenberg-Marquardt algorithm. Numerical examples are presented to verify the effectiveness of the proposed method. The results show that the generating firms could exercise their market power by over-production under congestion, or by capacity withholding In case of power shortage. The approach developed in this paper provides an efficient way to the solution of large-scale, complicated equilibrium models for electricity markets. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 08858950
- Volume :
- 19
- Issue :
- 3
- Database :
- Academic Search Index
- Journal :
- IEEE Transactions on Power Systems
- Publication Type :
- Academic Journal
- Accession number :
- 14194033
- Full Text :
- https://doi.org/10.1109/TPWRS.2004.831237