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Effect of Bidding Strategies of Hydro Generation on an Electricity Market  

Lee Kwang-Ho (단국대 전기공학과)
Publication Information
The Transactions of the Korean Institute of Electrical Engineers A / v.54, no.9, 2005 , pp. 461-466 More about this Journal
Abstract
This paper addresses the bidding strategies of a hydro generator in an electricity market, and their effect on the electricity market in accordance with some parameters: the water volume, the demand elasticity, and the hydro unit performance. The competition of a hydro generator is formulated as a hi-level optimization problem, and the solving scheme for the equilibrium condition is proposed as a set of nonlinear simultaneous equations. The equilibrium of the oligopolistic model is evaluated by comparison with that of a perfect competition model from the viewpoint of a market power. Simulation results show some parameters have an influence on the market power of an electricity market including a hydro generator.
Keywords
Electricity Market, Hydro Generation; Bid Strategy; Hydro-Thermal Coordination; Nash Equilibrium;
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Times Cited By KSCI : 1  (Citation Analysis)
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