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Parameterization of linear supply functions in nonlinear AC electricity market equilibrium models 2014; Part I: literature review and equilibrium algorithm
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Petoussis, Andreas G., Zhang, Xiao-Ping, Petoussis, Savvas G. and Godfrey, Keith R. (2013) Parameterization of linear supply functions in nonlinear AC electricity market equilibrium models 2014; Part I: literature review and equilibrium algorithm. IEEE Transactions on Power Systems, 28 (2). pp. 650-658. doi:10.1109/TPWRS.2012.2214243 ISSN 0885-8950.
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Official URL: http://dx.doi.org/10.1109/TPWRS.2012.2214243
Abstract
The linear supply function equilibrium (SFE) model can be used to investigate bid-based electricity pool markets. Several studies assume that the market players construct optimal strategic bids by parameterizing the linear marginal cost function of their generating units. Four different types of parameterization are possible, for which the slope and/or the intercept of the marginal cost functions are varied. This paper reviews the existing literature and proposes a primal-dual nonlinear interior point algorithm to solve a bi-level market problem with AC network representation, using any of the parameterization methods. Part II of this paper uses the proposed algorithm to examine the effects of the different parameterizations on the resulting SFE solutions, the role of network complexity and the nature of the equilibrium points.
Item Type: | Journal Article | ||||
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Divisions: | Faculty of Science, Engineering and Medicine > Engineering > Engineering | ||||
Journal or Publication Title: | IEEE Transactions on Power Systems | ||||
Publisher: | IEEE | ||||
ISSN: | 0885-8950 | ||||
Official Date: | May 2013 | ||||
Dates: |
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Volume: | 28 | ||||
Number: | 2 | ||||
Page Range: | pp. 650-658 | ||||
DOI: | 10.1109/TPWRS.2012.2214243 | ||||
Status: | Peer Reviewed | ||||
Publication Status: | Published | ||||
Access rights to Published version: | Restricted or Subscription Access |
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