| Title |
Effect of Bidding Strategies of Hydro Generation on an Electricity Market |
| Keywords |
Electricity Market, Hydro Generation ; Bid Strategy ; Hydro-Thermal Coordination ; Nash Equilibrium |
| Abstract |
This paper addresses the bidding strategies of a hydro generator in an electricity market, and their effect on the electricity market in accordance with some parameters: the water volume, the demand elasticity, and the hydro unit performance. The competition of a hydro generator is formulated as a hi-level optimization problem, and the solving scheme for the equilibrium condition is proposed as a set of nonlinear simultaneous equations. The equilibrium of the oligopolistic model is evaluated by comparison with that of a perfect competition model from the viewpoint of a market power. Simulation results show some parameters have an influence on the market power of an electricity market including a hydro generator. |