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Existence of market power in electricity markets has been revealed by extensive studies, however, the understanding of how environmental policies, e.g. emission trading scheme, impacts on the change of market power of generation companies (GENCOs) is at the inchoate stage. This paper, targeted at the study of Australia National Electricity Market, presents the Cournot market equilibrium model incorporating...
This paper compares the performances of two probabilistic techniques, namely (i) two-point estimate (2PE) method and (ii) Monte Carlo (MC) method, when modelling the uncertainties in market simulation. The demand, bid price, and capacity offer quantities are modelled as uncertain variables. A generalized zonal market model has been analysed with relaxed generation and network representation. A simplified...
The University of Queensland (UQ) has extensive laboratory facilities associated with each course in the undergraduate electrical engineering program. The laboratories include machines and drives, power systems simulation, power electronics and intelligent equipment diagnostics. A number of postgraduate coursework programs are available at UQ and the courses associated with these programs also use...
A simulation model is developed to simulate the yearlong performance of an energy-only electricity market for long-term planning applications. The main simulation domain has been transformed from sequential time to probabilistic time (or time duration) keeping all the other pertinent details of an electricity market in tact. The details such as attributes of load, generating units/companies, transmission...
This paper proposed a new evaluation method to investigate new generation entry in deregulated markets. This method can evaluate the expected net revenue of the new generator when the unit is committed into a trading region in the Australia electricity market. The cumulated annual price and load duration curve are used, together with a randomly distributed bid price profile to determine the loading...
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