Market Power Assessment and Mitigation in Hydrothermal Systems
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.
References listed on IDEAS
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- Severin Borenstein & James Bushnell & Christopher R. Knittel, 1999.
"Market Power in Electricity Markets: Beyond Concentration Measures,"
The Energy Journal,
International Association for Energy Economics, vol. 0(Number 4), pages 65-88.
- Borenstein, Severin & Bushnell, James & Knittel, Chris, 1999. "Market Power in Electricity Markets: Beyond Concentration Measures," Staff General Research Papers Archive 31548, Iowa State University, Department of Economics.