• Journal of Electrical Engineering and Technology
• /
• 제2권4호
• /
• pp.494-499
• /
• 2007

In this paper, we have investigated how transmission network constraints can be modeled in an electricity market equilibrium model. Under Cournot competition assumption, a game model is set up considering transmission line capacity constraints. Based on locational marginal pricing principle, market clearing is formulated as a total consumers# benefit maximization problem, and then converted to a conventional optimal power flow (OPF) formulation with a linearized transmission model. Using market clearing formulation, best response analysis is formulated and, finally, Nash equilibrium is formulated. In order for illustration, a numerical study for a four node system with two generating firms and two loads are presented.

• KIEE International Transactions on Power Engineering
• /
• 제4A권4호
• /
• pp.243-253
• /
• 2004

As deregulation evolves, pricing electricity becomes a major issue in the electric power industry. Participants in the competitive marketplace are able to improve their profits substantially by effectively pricing the electricity. In this paper, game theory is applied to analyze price-clearing in the generation bidding competition with the competition modeled as the non-cooperative and complete information game. The result of this analysis can be useful in understanding spot price-clearing of electricity as well as GENCOs' strategic behavior in the competitive electricity market.

• 대한전기학회:학술대회논문집
• /
• 대한전기학회 2002년도 하계학술대회 논문집 A
• /
• pp.422-424
• /
• 2002

Many methods about real power flow tracing have been suggested. Electric power industrials and organizations of the world use the method which is best suitable to themselves in practical aspects. In this paper we calculate the real power transfer between individual generators and loads referencing the method introduced by oversea's paper. It is considered to be significant to the wholesale competition market and transmission open access. Based on ac load flow solution and graph theory, the simulation on IEEE 30-bus system are carried out and the results are compared with that of oversea's paper. Also the simulation on the power system of Korea is carried out and the results are analyzed.

• 대한전기학회논문지:전력기술부문A
• /
• 제52권10호
• /
• pp.616-623
• /
• 2003

Competition among electric generation companies is a major goal of restructuring in the electricity industry, The trading system in an electricity market has been one of the most important issues in deregulated electricity market. This paper deals with comparisons of the major two types of the trading system: compulsory pool market and bilateral contract market. The two trading systems are compared quantitatively from the viewpoint of consumer's surplus and social welfare, This paper, also, proposes a unified model of Cournot and Bertrand for analyzing the mixed trading system of pool market and bilateral contract market. Nash equilibrium of the unified model is derived by criteria for participating in bilateral contract market. Numerical results from a sample case show that a mixed trading system of pool market and price-competitive bilateral market is beneficial to consumer from the view points of consumer's surplus.

• 대한전기학회:학술대회논문집
• /
• 대한전기학회 2003년도 하계학술대회 논문집 A
• /
• pp.670-672
• /
• 2003

The market participants make plans of bidding and transaction strategies to maximize their own profits in competitive electricity market. Also, It is concerned with transmission congestion in power market. Two methods are generally used for congestion management;nodal pricing and uplift. The participants will have different strategies for their profits in the two methods. This paper analyzes their equilibrium strategies by using the supply function model and congestion methods.

• 대한전기학회논문지:전력기술부문A
• /
• 제51권7호
• /
• pp.311-316
• /
• 2002

It has been a basic model for the present electric power industry that more than two generators compete, and thereby the market clearing price and the generation schedules are determined through the bid process. In order for this paradigm to be applicable to real electric power systems and markets, it is necessary to reflect many physical and economic constraints related to frequency and transmission in the dispatching schedule. The paper presents an approach to deriving a Nash bargaining solution in a competitive electricity market where multiple generators are playing with the system operator who mitigates the transmission congestion to minimize the total transaction cost. In this study, we take the effect of the line flows and the role of system operator into the Game. Finally, a case study has been demonstrated to verify the proposed cooperative game.

• 대한전기학회:학술대회논문집
• /
• 대한전기학회 2003년도 하계학술대회 논문집 A
• /
• pp.113-115
• /
• 2003

The electric power industry throughout the world is undergoing considerable changes from the vertically integrated utility structure to the deregulated market. However, the deregulated electricity market is operated with respect to theory of economical efficiency, and therefore, the system operator requires data with fast contingency ranking for security of the bulk power system. This paper presents fast calculation method for determining contingency ranking using the weather dependant probabilistic risk index(PRI). The probabilistic risk index can be classified into normal weather and adverse weather. This paper proposes calculation method using the probabilistic risk index in determining contingency ranking requiring for security under the deregulated electricity market.

• KIEE International Transactions on Power Engineering
• /
• 제5A권4호
• /
• pp.396-402
• /
• 2005

In an electricity market with imperfect competition, participants devise bidding plans and transaction strategies to maximize their own profits. The market price and the quantity are concerned with the operation reserve as well as the bidding system and demand curves in an electricity market. This paper presents a market model combined by an energy market and an operating reserve market. The competition of the generation producers in the combined market is formulated as a gaming of selecting bid parameters such as intersections and slopes in bid functions. The Nash Equilibrium (NE) is analyzed by using bi-level optimization; maximization of Social Welfare (SW) and maximization of the producers' profits.

• 전기학회논문지
• /
• 제57권4호
• /
• pp.560-566
• /
• 2008

Today, as the power trades between generation companies and power customer are liberalized, the uncertainty level of operated power system is rapidly increased. Therefore, transmission operators as decision makers for transmission expansion are required to establish a deliberate investment plan for effective operations of transmission facilities considering forecasted conditions of power system. This paper proposes the methodology for the optimal solution of transmission expansion in deregulated power system. The paper obtains the expected value of transmission congestion cost for various scenarios by using occurrence probability. In addition, the paper assumes that increasing rates of loads are the probability distribution and indicates the location of expanded transmission line, the time for transmission expansion with the minimum cost for the future by performing the Montecarlo simulation. To minimize the investment risk as the variance of the congestion cost, Mean-Variance Markowitz portfolio theory is applied to the optimization model by the penalty factor of the variance. By the case study, the optimal solution for transmission expansion plan considering the feature of market participants is obtained.

• Journal of Electrical Engineering and Technology
• /
• 제5권2호
• /
• pp.239-245
• /
• 2010

Today, as power trades between generators and loads are liberalized, the uncertainty level of power systems is rapidly increasing. Therefore, transmission operators are required to incorporate these uncertainties when establishing an investment plan for effective operation of transmission facilities. This paper proposes the methodology for an optimal solution of transmission expansion plans for the long-term in a deregulated power system. The proposed model uses the probabilistic cost of transmission congestion for various scenarios and the annual increasing rates of loads. The locations and the installation times of expanded transmissions lines with minimum cost are acquired by the model. To minimize the investment risk, the Mean-Variance Markowitz portfolio theory is applied to the model. In a case study, the optimal solution of a transmission expansion plan is obtained considering the uncertain power market.