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Generation companies (GenCos) are the key players in today's electricity markets. Their interactions are particularly important in studying market dynamics, market power and decision-making. This paper proposes GenCos' strategic behavior monitoring on auction bidding, based on state variables. The analysis is founded on the dynamic properties - observability and controllability - of market clearing...
Liberalization and privatization in the electricity industry have led to increased competition. At the same time, generation companies are now exposed more than ever to risk and uncertainties which they cannot pass through to their customers in the form price increases as in a regulated environment. The central challenge for electricity generators is to maximize profits under uncertainty. But this...
This paper studies sequential time-step generation companies' production decisions in oligopolistic electricity markets. We consider a spot electricity market operated on an hourly basis where each time-step is solved individually using the Cournot market model. The time-steps are coordinated by the supervision of the maximum/minimum on/off time constraints. Numerical examples are provided.
This paper studies Generation Companies (GENCOs) production decisions in ologopolistic electricity market. The model presented is based upon static equilibrium model solved sequentially. The main idea is to imagine the firms to be in a discrete time situation. The effect of technical constraints, such as time on/off, ramp up/down, startup cost and shut down cost, are not included in the model.
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