Derivation of a mathematical structure for market-based transmission augmentation in oligopoly electricity markets using multilevel programming
2009 (English)In: 2009 IEEE Power and Energy Society General Meeting, PES '09, Calgary, AB, 2009Conference paper (Refereed)
In this paper, we derive and evaluate a new mathematical structure for market-based augmentation of the transmission system. The closed-form mathematical structure can capture both the efficiency benefit and competition benefit of the transmission capacity. The Nash solution concept is employed to model the price-quantity game among GenCos. The multiple Nash equilibria of the game are located through a characterisation of the problem in terms of minima of the function. The worst Nash equilibrium is used in the mechanism of transmission augmentation. The worst Nash equilibrium is defined as the one which maximises the social cost, total generation cost + total value of lost load. Thorough analysis of a simple three-node network is presented to clearly highlight the mechanism of the derived mathematical structure from different perspectives.
Place, publisher, year, edition, pages
Calgary, AB, 2009.
, 2009 IEEE Power and Energy Society General Meeting, PES '09
Multilevel programming, Oligopoly electricity market, Transmission augmentation, Characterisation, Closed form, Electricity market, Generation cost, Mathematical structure, Nash equilibria, Nash Equilibrium, Nash solutions, Social cost, Total values, Transmission capacities, Transmission systems, Ad hoc networks, Commerce, Competition, Electric power transmission, Potential energy, Potential energy surfaces, Telecommunication networks, Mathematical programming
Electrical Engineering, Electronic Engineering, Information Engineering
IdentifiersURN: urn:nbn:se:kth:diva-79304DOI: 10.1109/PES.2009.5275636ISI: 000275524900256ISBN: 9781424442416OAI: oai:DiVA.org:kth-79304DiVA: diva2:495341
2009 IEEE Power and Energy Society General Meeting, PES '09
QC 201202102012-02-082012-02-082012-02-10Bibliographically approved