Hydrothermal market simulator using game theory: assessment of market power

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dc.contributor.authorVillar Suárez, Jorge Antonio
dc.contributor.authorRudnick van de Wyngard, Hugh
dc.date.accessioned2022-05-18T14:04:52Z
dc.date.available2022-05-18T14:04:52Z
dc.date.issued2003
dc.description.abstractThe aim of this work is to build a model able to simulate a hydrothermal electric power market based on simple bids to a power exchange. The model studies the behavior of different market agents in a short-term horizon and delivers information about spot prices, use of water, and other relevant variables. Initially, a thermoelectric market is simulated through a static model based on Cournot concepts. The addition of hydroelectric power stations and time dependencies is made later, using a dynamic programming algorithm to build a dynamic model. In each stage and state of the dynamic programming, a Nash-Cournot equilibrium is determined to assess the behavior of the thermoelectric power stations (static model). Different strategies that firms can follow and the consequences of each one of them are analyzed. Market power mitigation effects of physical and financial bilateral contracts are also investigated. A case study with data on the Chilean power system is presented and analyzed.
dc.fuente.origenIEEE
dc.identifier.doi10.1109/TPWRS.2002.807061
dc.identifier.eissn1558-0679
dc.identifier.issn0885-8950
dc.identifier.urihttps://ieeexplore.ieee.org/stamp/stamp.jsp?arnumber=1178774
dc.identifier.urihttps://doi.org/10.1109/TPWRS.2002.807061
dc.identifier.urihttps://repositorio.uc.cl/handle/11534/64125
dc.information.autorucEscuela de ingeniería ; Villar Suárez, Jorge Antonio ; S/I ; 4644
dc.information.autorucEscuela de ingeniería ; Rudnick van de Wyngard, Hugh ; S/I ; 99167
dc.issue.numero1
dc.language.isoen
dc.nota.accesoContenido parcial
dc.pagina.final98
dc.pagina.inicio91
dc.publisherIEEE
dc.revistaIEEE Transactions on Power Systems
dc.rightsacceso restringido
dc.subjectGame theory
dc.subjectPower system modeling
dc.subjectThermoelectricity
dc.subjectPower markets
dc.subjectDynamic programming
dc.subjectContracts
dc.subjectPower generation
dc.subjectCosts
dc.subjectHeuristic algorithms
dc.subjectPower system analysis computing
dc.titleHydrothermal market simulator using game theory: assessment of market poweres_ES
dc.typeartículo
dc.volumen18
sipa.codpersvinculados4644
sipa.codpersvinculados99167
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