Equilibria in an oligopolistic market with wind power production

Jalal Kazempour, Hamidreza Zareipour

Research output: Contribution to journalJournal articleResearchpeer-review

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 languageEnglish
JournalI E E E Transactions on Power Systems
Volume29
Issue number2
Pages (from-to)686-697
ISSN0885-8950
DOIs
Publication statusPublished - 2014
Externally publishedYes

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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