Equilibria in an oligopolistic market with wind power production

Jalal Kazempour; Hamidreza Zareipour

doi:10.1109/TPWRS.2013.2286094

Equilibria in an oligopolistic market with wind power production

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Abstract

This paper proposes an approach for analyzing the impacts of large-scale wind power integration on electricity market equilibria. A pool-based oligopolistic electricity market is considered including a day-ahead market and a number of real-time markets. Wind power is considered within the generation portfolio of the strategic producers, and the uncertainty of wind power production is modeled through a set of plausible scenarios. The strategic behavior of each producer is modeled through a stochastic bilevel model. The resulting nonlinear equilibrium problem with equilibrium constraints (EPEC) is linearized and then solved. Numerical results for a test case with increasing levels of the wind power penetration is provided. © 2013 IEEE.

Original language	English
Journal	IEEE Transactions on Power Systems
Volume	29
Issue number	2
Pages (from-to)	686-697
ISSN	0885-8950
DOIs	https://doi.org/10.1109/TPWRS.2013.2286094
Publication status	Published - 2014
Externally published	Yes

Keywords

Electrical and Electronic Engineering
Energy Engineering and Power Technology
Bilevel model
equilibrium problem with equilibrium constraints (EPEC)
mathematical program with equilibrium constraints (MPEC)
oligopoly
stochastic programming
strategic producer
wind power
Bi-level models
Equilibrium problem with equilibrium constraint (EPEC)
Mathematical program with equilibrium constraints
Commerce
Competition
Electric industry
Stochastic models
Stochastic programming
Wind power
Wind power generation
Production
Real-time systems
Uncertainty
Wind farms
Electricity supply industry
Linear programming
Power system management, operation and economics
Wind power plants
power markets
power system economics
wind power plants
oligopolistic market equilibrium
large scale wind power integration
electricity market equilibria
pool based oligopolistic electricity market
day ahead market
generation portfolio
wind power production uncertainty
plausible scenario
stochastic bilevel model
nonlinear equilibrium problem
equilibrium constraints

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title = "Equilibria in an oligopolistic market with wind power production",

abstract = "This paper proposes an approach for analyzing the impacts of large-scale wind power integration on electricity market equilibria. A pool-based oligopolistic electricity market is considered including a day-ahead market and a number of real-time markets. Wind power is considered within the generation portfolio of the strategic producers, and the uncertainty of wind power production is modeled through a set of plausible scenarios. The strategic behavior of each producer is modeled through a stochastic bilevel model. The resulting nonlinear equilibrium problem with equilibrium constraints (EPEC) is linearized and then solved. Numerical results for a test case with increasing levels of the wind power penetration is provided. {\textcopyright} 2013 IEEE.",

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author = "Jalal Kazempour and Hamidreza Zareipour",

year = "2014",

doi = "10.1109/TPWRS.2013.2286094",

language = "English",

volume = "29",

pages = "686--697",

journal = "IEEE Transactions on Power Systems",

issn = "0885-8950",

publisher = "Institute of Electrical and Electronics Engineers",

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T1 - Equilibria in an oligopolistic market with wind power production

AU - Kazempour, Jalal

AU - Zareipour, Hamidreza

PY - 2014

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N2 - This paper proposes an approach for analyzing the impacts of large-scale wind power integration on electricity market equilibria. A pool-based oligopolistic electricity market is considered including a day-ahead market and a number of real-time markets. Wind power is considered within the generation portfolio of the strategic producers, and the uncertainty of wind power production is modeled through a set of plausible scenarios. The strategic behavior of each producer is modeled through a stochastic bilevel model. The resulting nonlinear equilibrium problem with equilibrium constraints (EPEC) is linearized and then solved. Numerical results for a test case with increasing levels of the wind power penetration is provided. © 2013 IEEE.

AB - This paper proposes an approach for analyzing the impacts of large-scale wind power integration on electricity market equilibria. A pool-based oligopolistic electricity market is considered including a day-ahead market and a number of real-time markets. Wind power is considered within the generation portfolio of the strategic producers, and the uncertainty of wind power production is modeled through a set of plausible scenarios. The strategic behavior of each producer is modeled through a stochastic bilevel model. The resulting nonlinear equilibrium problem with equilibrium constraints (EPEC) is linearized and then solved. Numerical results for a test case with increasing levels of the wind power penetration is provided. © 2013 IEEE.

KW - Electrical and Electronic Engineering

KW - Energy Engineering and Power Technology

KW - Bilevel model

KW - equilibrium problem with equilibrium constraints (EPEC)

KW - mathematical program with equilibrium constraints (MPEC)

KW - oligopoly

KW - stochastic programming

KW - strategic producer

KW - wind power

KW - Bi-level models

KW - Equilibrium problem with equilibrium constraint (EPEC)

KW - Mathematical program with equilibrium constraints

KW - Commerce

KW - Competition

KW - Electric industry

KW - Stochastic models

KW - Stochastic programming

KW - Wind power

KW - Wind power generation

KW - Production

KW - Real-time systems

KW - Uncertainty

KW - Wind farms

KW - Electricity supply industry

KW - Linear programming

KW - Power system management, operation and economics

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KW - power markets

KW - power system economics

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KW - electricity market equilibria

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KW - day ahead market

KW - generation portfolio

KW - wind power production uncertainty

KW - plausible scenario

KW - stochastic bilevel model

KW - nonlinear equilibrium problem

KW - equilibrium constraints

U2 - 10.1109/TPWRS.2013.2286094

DO - 10.1109/TPWRS.2013.2286094

M3 - Journal article

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SP - 686

EP - 697

JO - IEEE Transactions on Power Systems

JF - IEEE Transactions on Power Systems

SN - 0885-8950

IS - 2

ER -

Equilibria in an oligopolistic market with wind power production

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Keywords

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