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Market Power Assessment and Mitigation in Hydrothermal Systems

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Author Info

  • Rafael Kelman

    (PSR)

  • Luiz Barroso

    (PSR)

  • Mario Pereira

    (PSR)

Abstract

The objective of this work is to investigate market power issues in bid- based hydrothermal scheduling. Initially, market power is simulated with a single stage Nash-Cournot equilibrium model. Market power assessment for multiple stages is then carried through a stochastic dynamic programming scheme. The decision in each stage and state is the equilibrium of a multi-agent game. Thereafter, mitigation measures, specially bilateral contracts, are investigated. Case studies with data taken from the Brazilian system are presented and discussed.

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File URL: http://128.118.178.162/eps/game/papers/0508/0508009.pdf
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Bibliographic Info

Paper provided by EconWPA in its series Game Theory and Information with number 0508009.

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Length: 6 pages
Date of creation: 30 Aug 2005
Date of revision:
Handle: RePEc:wpa:wuwpga:0508009

Note: Type of Document - pdf; pages: 6
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Web page: http://128.118.178.162

Related research

Keywords: Game theory; Hydroelectric-thermal power generation; Power generation economics;

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References

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  1. Borenstein, Severin & Bushnell, James & Knittel, Chris, 1999. "Market Power in Electricity Markets: Beyond Concentration Measures," Staff General Research Papers 31548, Iowa State University, Department of Economics.
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Cited by:
  1. Hugh Rudnick & Juan-Pablo Montero, 2002. "Second Generation Electricity Reforms in Latin America and the California Paradigm," Journal of Industry, Competition and Trade, Springer, vol. 2(1), pages 159-172, June.
  2. Ventosa, Mariano & Baillo, Alvaro & Ramos, Andres & Rivier, Michel, 2005. "Electricity market modeling trends," Energy Policy, Elsevier, vol. 33(7), pages 897-913, May.
  3. Guido Tapia Carpio, Lucio & Olimpio Pereira, Amaro Jr, 2006. "Independent operation by subsystems: Strategic behavior for the Brazilian electricity sector," Energy Policy, Elsevier, vol. 34(17), pages 2964-2976, November.
  4. Rangel, Luiz Fernando, 2008. "Competition policy and regulation in hydro-dominated electricity markets," Energy Policy, Elsevier, vol. 36(4), pages 1292-1302, April.

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