Title : ( Nash Equilibrium of Joint Day-ahead Electricity Markets and Forward Contracts in Congested Power Systems )
Authors: Mohsen Banaei , Majid Oloomi Buygi , Hani Raouf Sheybani , Razgar Ebrahimy , Henrik Madsen ,
Full TextAbstract
Uncertainty in the output power of large-scale wind power plants (WPPs) can face the electricity market players with undesirable profit variations. Market players can hedge themselves against these risks by participating in forward contracts markets alongside the day-ahead markets. Participation of market players in these two markets affects their profits and also the prices and power quantities of each market. Moreover, limitations in the transmission grid can affect the optimal behavior of market players. In this paper, a Cournot Nash equilibrium model is proposed to study the behavior of market players in the forward contract market and the day-ahead electricity market in a congested power system with large-scale integration of WPPs. Proposed method is applied to a test system and the results are discussed.
Keywords
, Electricity market, forward contracts, renewable energy, Nash equilibrium.
@inproceedings{paperid:1088244,
author = {Banaei, Mohsen and Oloomi Buygi, Majid and Raouf Sheybani, Hani and رازگر ابراهیمی and هنریک مدسن},
title = {Nash Equilibrium of Joint Day-ahead Electricity Markets and Forward Contracts in Congested Power Systems},
booktitle = {سی و پنجمین کنفرانس بین المللی برق},
year = {2020},
location = {تهران, IRAN},
keywords = {Electricity market; forward contracts; renewable energy; Nash equilibrium.},
}
%0 Conference Proceedings
%T Nash Equilibrium of Joint Day-ahead Electricity Markets and Forward Contracts in Congested Power Systems
%A Banaei, Mohsen
%A Oloomi Buygi, Majid
%A Raouf Sheybani, Hani
%A رازگر ابراهیمی
%A هنریک مدسن
%J سی و پنجمین کنفرانس بین المللی برق
%D 2020
