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Ehsani, Elahe | 2010

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Type of Document: M.Sc. Thesis
Language: Farsi
Document No: 40933 (01)
University: Sharif University of Technology
Department: Industrial Engineering
Advisor(s): Modarres Yazdi, Mohammad
Abstract:
In electrical energy market, an economic game is running in which, power generating companies compete with each other in order to determine their suitable strategies and gain the highest possible profit. The literature shows the researchers actually use different algorithms to determine their suitable strategies but not Nash equilibrium method. These algorithms can not guarantee that the strategic equilibrium points can be found. In this research, the classic Nash method is used to determine GENCOs appropriate strategies and is simulated on some well known models (Cournot, Supply function equilibrium (SFE) and Bertrand), combined energy and reserve markets will be studied. The results of these games can be used by the Market Operator to predict future electricity prices and to assess market weaknesses and strengths.
Keywords:
Power Market ; Competition ; Strategy ; Game Theory ; Nash Equilibrium Point

No TOC