Abstract
An agent based generator repeated game model was developed using Swarm simulations to effectively control the electricity power market by generators. The model allows the generators to adjust their yields and prices in different sub-markets according to the geographic position and network transportation cost. The model was used to analyze the generator's natural monopolistic market boundary, the production, and the optimal scale in a completely balanced market. The results show that the network transportation cost is an inevitable natural factor that leads to market monopolies. This factor appeared in repeated games showing collusion. In the bidding mechanism, therefore, the information that leads power generation companies to choose collusion can be disturbed by false information to control their market power.
| Translated title of the contribution | Formation of market power by power companies in a unilateral open electricity power market |
|---|---|
| Original language | Chinese |
| Pages (from-to) | 947-951 |
| Number of pages | 5 |
| Journal | Qinghua Daxue Xuebao/Journal of Tsinghua University |
| Volume | 50 |
| Issue number | 6 |
| Publication status | Published - Jun 2010 |
| Externally published | Yes |
Keywords
- Electricity power market
- Market power
- Monopolistic market
- Repeated game
- Swarm simulation