Optimization Online


A Game-Theoretical Dynamic Model for Electricity Markets

Aswin Kannan (akannan***at***mcs.anl.gov)
Victor M. Zavala (vzavala***at***mcs.anl.gov)

Abstract: We present a game-theoretical dynamic model for competitive electricity markets.We demonstrate that the model can be used to systematically analyze the effects of ramp constraints, initial conditions, dynamic disturbances, forecast horizon, bidding frequency, and some other factors on the price signals.We illustrate the capabilities of the model using a numerical case study

Keywords: dynamics, markets, bidding, game theory, ramps, forecast horizon, frequency, clearing

Category 1: Applications -- OR and Management Sciences

Category 2: Other Topics (Game Theory )

Category 3: Other Topics (Dynamic Programming )


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Entry Submitted: 10/06/2010
Entry Accepted: 10/06/2010
Entry Last Modified: 03/16/2011

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