Derivation of a mathematical structure for market-based transmission augmentation in oligopoly electricity markets using multilevel programming
|dc.identifier.citation||Hesamzadeh, Mohammad and Biggar, Darryl and Hosseinzadeh, Nasser and Wolfs, Peter. 2009. Derivation of a mathematical structure for market-based transmission augmentation in oligopoly electricity markets using multilevel programming, in IEEE (ed), Power and Energy Society Annual General Meeting, Jul 26 2009. Calgary Canada: IEEE.|
In this paper, we derive and evaluate a new mathematical structure for market-based augmentation of the transmission system. The closed-form mathematical structure can capture both the efficiency benefit and competition benefit of the transmission capacity. The Nash solution concept is employed to model the price-quantity game among GenCos. The multiple Nash equilibria of the game are located through a characterisation of the problem in terms of minima of the R function. The worst Nash equilibrium is used in the mechanism of transmission augmentation. The worst Nash equilibrium is defined as the one which maximises the social cost, total generation cost + total value of lost load. Thorough analysis of a simple three-node network is presented to clearly highlight the mechanism of the derived mathematical structure from different perspectives.
|dc.subject||power transmission economics|
|dc.title||Derivation of a mathematical structure for market-based transmission augmentation in oligopoly electricity markets using multilevel programming|
|dcterms.source.title||Power and Energy Society Annual General Meeting, 2009|
|dcterms.source.series||Power and Energy Society Annual General Meeting, 2009|
|dcterms.source.conference||Power and Energy Society Annual General Meeting, 2009|
|dcterms.source.conference-start-date||Jul 26 2009|
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|curtin.faculty||Department of Electrical and Computer Engineering|
|curtin.faculty||School of Engineering|
|curtin.faculty||Faculty of Science and Engineering|