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On the Dynamic Stability of Electricity Markets

Victor M. Zavala (vzavala***at***mcs.anl.gov)
Mihai Anitescu (anitescu***at***mcs.anl.gov)

Abstract: In this work, we present new insights into the dynamic stability of electricity markets. In particular, we discuss how short forecast horizons, incomplete gaming, and physical ramping constraints can give rise to stability issues. Using basic concepts of market efficiency, Lyapunov stability, and predictive control, we construct a new stabilizing market design. A numerical case study is used to illustrate the developments.

Keywords: Dynamics Markets, Electricity, Efficiency, Game-Theory, Stability

Category 1: Other Topics (Dynamic Programming )

Category 2: Other Topics (Game Theory )

Category 3: Complementarity and Variational Inequalities


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Entry Submitted: 01/31/2011
Entry Accepted: 02/01/2011
Entry Last Modified: 02/09/2011

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