Transmission augmentation in an oligopoly electricity market - Part I (mathematical formulation)

M. R. Hesamzadeh, N. Hosseinzadeh, P. J. Wolfs

Research output: Chapter in Book/Report/Conference proceedingConference contribution

1 Citation (Scopus)

Abstract

This paper proposes a Three-Stage Model for transmission augmentation in restructured electricity markets. The mathematical formulation of the model is eveloped based on the game theory. Transmission Network Service Provider, TNSP, Generating Companies, GenCos, and Market Management Company, MMC, are placed in different stages of the model. These stages are linked to each other using the Leader-followers game and the concept of Nash equilibriums. An increase in transmission capacity can have two benefits for the electricity market; firstly, efficiency benefit in terms of improving the social welfare of the electricity industry, and, secondly, competition benefit which leads to increasing competition among generating companies. The introduced Three-Stage Model can capture both benefits of transmission projects in electricity markets. An effective numerical method is designed for solving the developed Three-Stage Model. A modified IEEE 14 example system is employed to show the effectiveness of the methodology. This paper has been organized in two parts. First part deals with the mathematical formulation of the algorithm and second part deals with the numerical studies. What follows is the first part of the paper.

Original languageEnglish
Title of host publication2008 Australasian Universities Power Engineering Conference, AUPEC 2008
Publication statusPublished - 2008
Event2008 Australasian Universities Power Engineering Conference, AUPEC 2008 - Sydney, NSW, Australia
Duration: Dec 14 2008Dec 17 2008

Publication series

Name2008 Australasian Universities Power Engineering Conference, AUPEC 2008

Other

Other2008 Australasian Universities Power Engineering Conference, AUPEC 2008
Country/TerritoryAustralia
CitySydney, NSW
Period12/14/0812/17/08

ASJC Scopus subject areas

  • Energy Engineering and Power Technology
  • Control and Systems Engineering
  • Electrical and Electronic Engineering

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