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An empirical method of dynamic oligopoly behaviour analysis in electricity market

Liu, J.D. and Lie, T.T. and Lo, K.L. (2006) An empirical method of dynamic oligopoly behaviour analysis in electricity market. IEEE Transactions on Power Systems, 21 (2). pp. 499-504. ISSN 0885-8950

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Abstract

Evidence of market power existing in the electricity markets has been empirically revealed, but the understanding of the market structure and generation companies' (GENCOs') strategic behaviors underlying the market power is far from satisfactory. This paper presents a theory and method for estimating the conjectural variations of GENCOs. Based on these estimates of conjectural variations in an actual electricity market, an empirical methodology is also proposed to analyze the dynamic oligopoly behaviors underlying market power. This is not only useful for system regulators to analyze the market structure but also to recognize and control the market power accordingly. The Australia National Electricity Market is used as the simulation case to test the proposed method.

Item type: Article
ID code: 4684
Keywords: oligopoly, power markets, electricity market, Commerce, Electrical engineering. Electronics Nuclear engineering, Energy Engineering and Power Technology, Electrical and Electronic Engineering
Subjects: Social Sciences > Commerce
Technology > Electrical engineering. Electronics Nuclear engineering
Department: Faculty of Engineering > Electronic and Electrical Engineering
Related URLs:
    Depositing user: Strathprints Administrator
    Date Deposited: 09 Nov 2007
    Last modified: 04 Sep 2014 17:09
    URI: http://strathprints.strath.ac.uk/id/eprint/4684

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