An empirical approach of modelling electricity prices in an oligopoly market
Most of the electricity markets are an oligopoly rather than perfect competition. In an oligopolistic market, generators tend to increase their profits by raising their bid prices, increasing the market price and hence favoring the investment in a new power plant. This paper proposes a new empirical...
| الحاوية / القاعدة: | PECon 2012 - 2012 IEEE International Conference on Power and Energy |
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| المؤلف الرئيسي: | |
| التنسيق: | Conference paper |
| اللغة: | English |
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2012
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| الوصول للمادة أونلاين: | https://www.scopus.com/inward/record.uri?eid=2-s2.0-84874452129&doi=10.1109%2fPECon.2012.6450218&partnerID=40&md5=37cfadc0462a43a701909287da368c9f |
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2-s2.0-84874452129 Dahlan N.Y.; Kirschen D.S. An empirical approach of modelling electricity prices in an oligopoly market 2012 PECon 2012 - 2012 IEEE International Conference on Power and Energy 10.1109/PECon.2012.6450218 https://www.scopus.com/inward/record.uri?eid=2-s2.0-84874452129&doi=10.1109%2fPECon.2012.6450218&partnerID=40&md5=37cfadc0462a43a701909287da368c9f Most of the electricity markets are an oligopoly rather than perfect competition. In an oligopolistic market, generators tend to increase their profits by raising their bid prices, increasing the market price and hence favoring the investment in a new power plant. This paper proposes a new empirical approach to estimate the price duration curve (PDC) in an oligopoly electricity market based on a shape of a PDC derived from an actual market. The objective of modelling the PDC in the oligopoly market is to have a realistic price in calculating the revenues from a new investment, so that the new investment is not underestimated. Since the PDC is sensitive to the shape of the load duration curve (LDC) and calculated according to each segment of the discretized LDC, an optimal approach to discretize the LDC is introduced prior to the modelling using dynamic programming. © 2012 IEEE. English Conference paper |
| author |
Dahlan N.Y.; Kirschen D.S. |
| spellingShingle |
Dahlan N.Y.; Kirschen D.S. An empirical approach of modelling electricity prices in an oligopoly market |
| author_facet |
Dahlan N.Y.; Kirschen D.S. |
| author_sort |
Dahlan N.Y.; Kirschen D.S. |
| title |
An empirical approach of modelling electricity prices in an oligopoly market |
| title_short |
An empirical approach of modelling electricity prices in an oligopoly market |
| title_full |
An empirical approach of modelling electricity prices in an oligopoly market |
| title_fullStr |
An empirical approach of modelling electricity prices in an oligopoly market |
| title_full_unstemmed |
An empirical approach of modelling electricity prices in an oligopoly market |
| title_sort |
An empirical approach of modelling electricity prices in an oligopoly market |
| publishDate |
2012 |
| container_title |
PECon 2012 - 2012 IEEE International Conference on Power and Energy |
| container_volume |
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| container_issue |
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| doi_str_mv |
10.1109/PECon.2012.6450218 |
| url |
https://www.scopus.com/inward/record.uri?eid=2-s2.0-84874452129&doi=10.1109%2fPECon.2012.6450218&partnerID=40&md5=37cfadc0462a43a701909287da368c9f |
| description |
Most of the electricity markets are an oligopoly rather than perfect competition. In an oligopolistic market, generators tend to increase their profits by raising their bid prices, increasing the market price and hence favoring the investment in a new power plant. This paper proposes a new empirical approach to estimate the price duration curve (PDC) in an oligopoly electricity market based on a shape of a PDC derived from an actual market. The objective of modelling the PDC in the oligopoly market is to have a realistic price in calculating the revenues from a new investment, so that the new investment is not underestimated. Since the PDC is sensitive to the shape of the load duration curve (LDC) and calculated according to each segment of the discretized LDC, an optimal approach to discretize the LDC is introduced prior to the modelling using dynamic programming. © 2012 IEEE. |
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| language |
English |
| format |
Conference paper |
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| record_format |
scopus |
| collection |
Scopus |
| _version_ |
1792585535447891968 |