The Nodal Market Power Index (NMP Index) for Modelling and Visualising Market Power
| dc.contributor.author | Hesamzadeh, M. | |
| dc.contributor.author | Biggar, D. | |
| dc.contributor.author | Wolfs, Peter | |
| dc.contributor.editor | Not known | |
| dc.date.accessioned | 2017-01-30T13:18:11Z | |
| dc.date.available | 2017-01-30T13:18:11Z | |
| dc.date.created | 2011-03-09T20:01:38Z | |
| dc.date.issued | 2010 | |
| dc.identifier.citation | Hesamzadeh, M.R. and Biggar, D.R. and Wolfs, P.J. 2010. The Nodal Market Power Index (NMP Index) for Modelling and Visualising Market Power, Power and Energy Society General Meeting, 2010 IEEE, Jul 25 2010. Minneapolis, Minnesota, USA: IEEE. | |
| dc.identifier.uri | http://hdl.handle.net/20.500.11937/30220 | |
| dc.description.abstract |
This paper deals with a systematic way for modelling and visualising market power in liberalised electricitymarkets. The paper first introduces a new index termed the “Nodal Market Power” index, the NMP index. The NMP index is calculated based on the concept of “social welfare” in economics and the game theory in applied mathematics. The oligopoly electricity market is modelled through a non-cooperative game and the solution concept of the Nash equilibrium. The solution concept of Nash equilibrium is reformulated as an optimisation problem. To tackle the multiple Nash equilibria problem, the worst Nash equilibrium in terms of the social cost to the society is selected. Then after, the NMP index is calculated for each node of power system. A colour contour map is used for visualising the market power using the NMP index. | |
| dc.publisher | IEEE Power & energy Society | |
| dc.subject | Market Power | |
| dc.subject | Nodal Market Power Index | |
| dc.subject | Stackelberg-Worst Nash Equilibrium | |
| dc.title | The Nodal Market Power Index (NMP Index) for Modelling and Visualising Market Power | |
| dc.type | Conference Paper | |
| dcterms.source.issn | 1944-9925 | |
| dcterms.source.title | Proceedings of the IEEE Power & Energy Society 2010 General Meeting | |
| dcterms.source.series | Proceedings of the IEEE Power & Energy Society 2010 General Meeting | |
| dcterms.source.conference | Power and Energy Society General Meeting, 2010 IEEE | |
| dcterms.source.conference-start-date | Jul 25 2010 | |
| dcterms.source.conferencelocation | Minneapolis, Minnesota, USA | |
| dcterms.source.place | Minneapolis, Minnesota, USA | |
| curtin.note |
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| curtin.department | Department of Electrical and Computer Engineering | |
| curtin.accessStatus | Open access |