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Strategic Behavior Of Generating Companies In The Electricity Market Research

Posted on:2005-11-07Degree:MasterType:Thesis
Country:ChinaCandidate:H B LvFull Text:PDF
GTID:2206360152493428Subject:Electrical engineering
Abstract/Summary:PDF Full Text Request
Since 1998, the former National Power Company was vertically split, so the generation part and transmitting part were separated. At the same time, Shandong, Shanghai, Zhejiang, Liaoning, Jilin and Heilongjiang were selected as first 6 experimental units which involved in the generation side competition while transmitting and distribution side were still under regulation. The market-restructuring of power industry in China was started. Soon after its establishment, National Supervising Committee of Power Industry decided to put the trial power market in Northeast China. This may notify that regional power market will be the main mode of power industry in China.In a regional power market, the financial risk faced by power retailers is depended on many factors. How to assess supplier market power impact is essential for power retailer risk management. This dissertation formulated a price competition game for modeling oligopolistic competition in a single-period electricity market auction. In this paper, we study single-period auction games, with the assumption that generator marginal costs are identical. We found that the later assumption facilitates a sharper result, which states that the market clearing price at equilibrium under tight capacity constraint is unique. This assumption also permits us to obtain simpler equilibrium characterization and mathematical proofs. As an application, we derive a numerical index—Must Run Ratio (MRR) that can be used to screen supplier market power as well as to develop optimal bidding strategies under certain market conditions.This dissertation summarizes the recent researches of bidding strategies. Introduces the traditional 4 types of research methods, method based on cost analysis, method based on clearing price speculation, method based on guess of opponents' strategies and method based on game theory; also introduces some new methods, such as Actor-Critic learning algorithm, dynamic feedback system method, self-adapting method, cobweb theorem, etc. this dissertation also refers to some important other problems related to the research of bidding strategies. Besides, this dissertation pointed out the gap of recent researches and presents some problems needed to be studied.Finally, from the aspect of studying the generation side problem as a whole, this dissertation...
Keywords/Search Tags:power market, generation side, generation company, bidding strategy, market power, must run ratio, game theory
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