(2)The auction problem in power pool is presented. It employs dynamic programming to deal with single unit optimization and adopts a joint method of LR (Lagrangian Relaxation), sub-optimal treatment and economic operation to calculate market equilibrium.
research methods adopted is to analyze mutual competitive behaviors between power plants by applying game theory and to analyze and calculate market balance points of different market conditions.
In the market environment, the decentralized decision making approach should be recommended so as to use the "invisible hand" of markets to achieve market equilibrium and efficiency.
Secondly, it is shown that suppliers have the incentive to learn and the overall learning behaviors in certain condition will reduce the market clearing price and benefit the consumers, however some suppliers obtain less profits;
The traditional transportation planning takes the microeconomics Walras equilibrium principle as its theoretical base. Transportation planning is revealed at the point of market equilibrium, and doesn't consider the market disequilibrium cases. Actually, an equilibrium state is a special disequilibrium. Under some market conditions, an equilibrium case can be realized. However, these conditions are very rigorous, we scarcely obtain them. Even if an equilibrium state is carried out, it is still temporary, an...
Based on the benefit of producers and consumers, this paper presents a formulation for the equilibrium of power competitive market that meets the needs of the benefit maximum of all the market participants. And determines its solution using genetic algorithm. In order to prevent the producers from getting speculation during peak load period, penalty and contracts is imposed to balance the supply and demand. The result of example indicates the necessity of incorporating some regulation into market mechanism.
In power markets, ancillary service is usually centrally handled. The system operator will determine the required reserve capacity and purchase it from the reserve suppliers. And the corresponding cost is allocated to the consumers. This approach lacks customers' choices and may lead to inefficiency. In the market environment, the decentralized decision making approach should be recommended so as to use the "invisible hand" of markets to achieve market equilibrium and efficiency. In this paper, we suggest...