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This paper employed the theory of real option to analyze investment decision-making for power generator in a completely competitive power market, a investment threshold model considered power bidding of power generator and their quadratic production cost function was presented. The results of the model were simulated and analyzed with the Matlab software, and the results indicated that the main conclusions...
From the perspective of entire supply chain of electric power with fuel supply, power generation, transmission and consumption, how to operate and coordinate the power enterprises is an important research topic. Coupling the optimal decision-making of chain members, including fuel suppliers, power generators, power suppliers or customers and independent system operator, the Nash equilibrium model...
Based on the bounded rational dynamics and adaptive dynamics,this paper presents power producer bidding Cournot model, bidding dynamic model and delayed bidding dynamic model respectively, analyzes the stable region, bifurcation and chaos of bidding dynamic models by simulation method and compares stable regions of the two dynamic bidding models and the average revenue of power producer.The results...
Equilibrium is a key problem to electric power market, which is the interactional outcome of optimal behavior among government, Generation Company and consumers. Using the Stackelberg game for reference, this paper sets up two short- term game models from the views of generation company and government regulation; then the generation power investment model is developed to analyze long-term equilibrium...
This paper proposes three econometric AR-EGARCH models, whose error is governed by normal, students' t and GED distribution respectively, to nine o'clock spot price serial of Nordpool power market from 2001 to 2005 year. In addition, POT method of extreme value theory is adopted to model the tails of the return distribution, and the parameters of GPD distribution are estimated, then VaR and CVaR are...
This paper analyzes the historical data of power bidding with econometrics method, and simulates the uncertainty of bidding market into logistic distribution. Based on the results, the risk-constrained power bidding strategy model is proposed by using the CVaR method. Finally, the simulation results of the model show that the equilibrium bid is the lower limit governed by market rule to risk-averse...
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