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This paper proposes a new and practical model to achieve the electricity market equilibrium based on Linear Supply Function Equilibrium (LSFE) model. In the proposed model, the transmission constraint in addition to the generation constraint and the consumers bidding behavior are considered. The coevolutionary computational approach is proposed to solve the market equilibrium problem. Several cases...
The negotiation behaviours of different traders in the process of direct power purchase by large consumers are simulated by using Multi-agent technology. With the Q-learning algorithm based on previous quotation data, he agent can strengthen its own learning capacity and timely adjust its bid price against its opponent's action. Meanwhile, in order to make sure of the justice of market competition,...
Establishing regional power market and optimizing the assets allocation in regional areas are key tasks in China's power industry reformation. South China power market (SCPM) is one of the pilot regional power markets in China and started simulative operation on Nov. 21st, 2005. As the economic development and tariff level in west-east provinces is much uneven, the simulative operation result of SCPM...
There are two difficult problems should be solved during designing practicable regional transaction model, one of them is to design a rational transaction mechanism to ensure the electricity prices of different provinces in the region are relatively stable, so the balanced economic development of these provinces can be coordinated to implement the harmonious development in both power industry reform...
Bid format is a crucial feature of electricity market mechanism. Correspondingly, in agent based electricity market simulation, how to model agent's bid format and represent action domain is also an important aspect to construct a valid learning method. In this paper, two methods to generator agents' action domains are presented and their effects to the simulation result are analyzed on a 4-generator...
This paper presents a day-based stochastic unit maintenance scheduling (UMS) model for a power producer in a pool-based power market. Its objective is to maximize the producer's benefit over the entire scheduling periods, with emphasis on potential risk associated with the fluctuating electricity prices. In the proposed model, the producer's potential benefit is analyzed in detail, mainly including...
The method of experimental economics is applied to research of Genco bidding strategy and market behavior of uniform price and pay-as-bid (PAB) auction mechanisms under different demand side response conditions with the multi-unit simultaneous auction model. The basic theories of experimental economics are introduced first. Then the experimental design is presented. Both qualitative analysis and quantitative...
The output of a hydropower generator without a regulatable reservoir is determined by the streamflow, thus the output is stochastic. Hydropower generators are confronted with the energy-uncertainty risk. A risk-management framework combined with one forward contract and two electricity real options is proposed to manage the energy-uncertainty risk. Suppose a hydropower generator signs a forward contract...
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