Modelling generation capacity margin as a dynamic control problem

Th Häni, J. W. Bialek, R. Cherkaoui

Research output: Chapter in Book/Report/Conference proceedingConference contributionpeer-review

7 Citations (Scopus)

Abstract

In this paper generation investment process in a liberalised electricity market is simulated as a dynamic control problem with prices, both current and predicted, acting as a feedback variable. Market price is modelled as a function of the capacity margin only. We model an energy-only market, with no capacity payments. The model includes different power plant types with different investment lags, lumpy investment, possibility of mothballing and different investment behaviour. It is shown that the modelled market itself cannot guarantee a sufficient capacity margin and exhibits an oscillatory behaviour.

Original languageEnglish
Title of host publication2006 IEEE Power Engineering Society General Meeting, PES
Publication statusPublished - 2006
Externally publishedYes
Event2006 IEEE Power Engineering Society General Meeting, PES - Montreal, QC, Canada
Duration: 18 Jun 200622 Jun 2006

Publication series

Name2006 IEEE Power Engineering Society General Meeting, PES

Conference

Conference2006 IEEE Power Engineering Society General Meeting, PES
Country/TerritoryCanada
CityMontreal, QC
Period18/06/0622/06/06

Keywords

  • Power system economics
  • Security of supply
  • Simulation

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