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This paper analyzes the operation of water resources of hydro‐electric plants in competitive generation power markets. With that purpose, the traditional definition of water value used in centralized systems is updated and extended in order to adapt it to electricity markets, where generation companies face the hydrothermal coordination under a competitive environment. Two different water values are...
Electricity generation capacity expansion is still a complex and elusive problem. Nevertheless, the importance for generation companies and regulators of analyzing the decision of building new power plants, due to its economic impact, has led to a large number of studies that address this problem using different techniques. One of the most promising alternatives is the use of game theory. This paper...
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