Optimal Bidding Strategies in Transmission Limited Electric Power Markets

美国和世界各地的电力工业正在经历彻底的重组。 这些变化要求市场参与者和监管者采用新的分析技术。 本提案的目标是研究适当的分析概念。基础传输系统在所有市场结构中起着重要作用。 在一定条件下，输电阻塞甚至可以细分相对较大的功率池，限制发电调度。 需要一些工具来帮助市场参与者设计最佳投标策略。相反，监管机构必须对反竞争行为保持警惕。提出了弥合与经济分析之间差距的市场解决方案算法的调查。 最终，这种算法将有助于分析潜在的工程约束对市场的影响。传输系统的完整模型将嵌入市场模拟中。本文以电力市场社会福利最大化的最优潮流为出发点，确定个体福利最优的最优算法。 一个有前途的方法是制定一个嵌套的优化问题：一个人必须最大限度地提高福利的事实，他们的价格和调度是由池运营商，谁是，反过来，试图最大限度地提高整体社会福利。 该算法采用迭代的方法来求解纳什均衡，求解纳什均衡的算法描述了一个包含切换代数约束的动态过程。 这种市场行为的动力系统观点所提供的见解应该有助于对市场力量进行系统的定义。

The electricity industry in the United States and throughout the world is undergoing radical restructuring. These changes require new analysis techniques, both for market participants and for regulators. The goal of this proposal is to investigate appropriate analysis concepts.The underlying transmission system plays a significant role in all market structures. Under certain conditions, transmission congestion can subdivide even relatively large power pools, constraining the generation dispatch. Tools are needed to help market participants devise optimal bidding strategies. Conversely, regulators must be vigilant against anti-competitive acts.Investigation of a market solution algorithm that bridges the gap between and economic analysis is proposed. Ultimately, such an algorithm will facilitate analysis of the impact of underlying engineering constraints on the market. A complete model of the transmission system will be embedded in the market simulation. The starting point is an Optimal Power Flow that maximizes the social welfare of the electricity market.The research will determine the best algorithm for individual welfare optimization. One promising approach is to formulate the problem as a nested optimization: an individual must maximize welfare subject to the fact that their price and dispatch are determined by the pool operator, who is, in turn, attempting to maximize overall social welfare. This algorithm motivates an iterative approach to obtaining Nash equilibria.The algorithm for finding Nash equilibria describes a dynamic process that involves switched algebraic constraints. The insights that are provided by this dynamical systems view of market behavior should facilitate a systematic definition of market power.