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A Game Theoretic Study Of The Strategic Interaction Between Transmission And Generation Expansion Planning In A Restructured Electricity Market
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Book Synopsis A Game-theoretic Study of the Strategic Interaction Between Transmission and Generation Expansion Planning in a Restructured Electricity Market by : Kwok-kei Ng (Electrical engineer., Simon)
Download or read book A Game-theoretic Study of the Strategic Interaction Between Transmission and Generation Expansion Planning in a Restructured Electricity Market written by Kwok-kei Ng (Electrical engineer., Simon) and published by . This book was released on 2007 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis A Game-theoretic Study of the Strategic Interaction Between Transmission and Generation Expansion Planning in a Restructured Electricity Market by :
Download or read book A Game-theoretic Study of the Strategic Interaction Between Transmission and Generation Expansion Planning in a Restructured Electricity Market written by and published by . This book was released on 2007 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Numerical Analysis and Optimization by : Mehiddin Al-Baali
Download or read book Numerical Analysis and Optimization written by Mehiddin Al-Baali and published by Springer. This book was released on 2015-07-16 with total page 351 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presenting the latest findings in the field of numerical analysis and optimization, this volume balances pure research with practical applications of the subject. Accompanied by detailed tables, figures, and examinations of useful software tools, this volume will equip the reader to perform detailed and layered analysis of complex datasets. Many real-world complex problems can be formulated as optimization tasks. Such problems can be characterized as large scale, unconstrained, constrained, non-convex, non-differentiable, and discontinuous, and therefore require adequate computational methods, algorithms, and software tools. These same tools are often employed by researchers working in current IT hot topics such as big data, optimization and other complex numerical algorithms on the cloud, devising special techniques for supercomputing systems. The list of topics covered include, but are not limited to: numerical analysis, numerical optimization, numerical linear algebra, numerical differential equations, optimal control, approximation theory, applied mathematics, algorithms and software developments, derivative free optimization methods and programming models. The volume also examines challenging applications to various types of computational optimization methods which usually occur in statistics, econometrics, finance, physics, medicine, biology, engineering and industrial sciences.
Book Synopsis Generation Capacity Expansion in Restructured Energy Markets by : Vishnuteja Nanduri
Download or read book Generation Capacity Expansion in Restructured Energy Markets written by Vishnuteja Nanduri and published by . This book was released on 2009 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: ABSTRACT: With a significant number of states in the U.S. and countries around the world trading electricity in restructured markets, a sizeable proportion of capacity expansion in the future will have to take place in market-based environments. However, since a majority of the literature on capacity expansion is focused on regulated market structures, there is a critical need for comprehensive capacity expansion models targeting restructured markets. In this research, we develop a two-level game-theoretic model, and a novel solution algorithm that incorporates risk due to volatilities in profit (via CVaR), to obtain multi-period, multi-player capacity expansion plans. To solve the matrix games that arise in the generation expansion planning (GEP) model, we first develop a novel value function approximation based reinforcement learning (RL) algorithm. Currently there exist only mathematical programming based solution approaches for two player games and the N-player extensions in literature still have several unresolved computational issues. Therefore, there is a critical void in literature for finding solutions of N-player matrix games. The RL-based approach we develop in this research presents itself as a viable computational alternative. The solution approach for matrix games will also serve a much broader purpose of being able to solve a larger class of problems known as stochastic games. This RL-based algorithm is used in our two-tier game-theoretic approach for obtaining generation expansion strategies. Our unique contributions to the GEP literature include the explicit consideration of risk due to volatilities in profit and individual risk preference of generators. We also consider transmission constraints, multi-year planning horizon, and multiple generation technologies. The applicability of the twotier model is demonstrated using a sample power network from PowerWorld software. A detailed analysis of the model is performed, which examines the results with respect to the nature of Nash equilibrium solutions obtained, nodal prices, factors affecting nodal prices, potential for market power, and variations in risk preferences of investors. Future research directions include the incorporation of comprehensive cap-and-trade and renewable portfolio standards components in the GEP model.
Book Synopsis Dynamic Noncooperative Game Models for Deregulated Electricity Markets by : Jose Behar Cruz
Download or read book Dynamic Noncooperative Game Models for Deregulated Electricity Markets written by Jose Behar Cruz and published by Nova Science Pub Incorporated. This book was released on 2009 with total page 105 pages. Available in PDF, EPUB and Kindle. Book excerpt: The deregulated electricity markets are expected to be perfectly competitive, yet they remain oligopolistic in which the market participants are able to exercise market power to "game" the markets. Game theory, by its nature, is considered as the appropriate framework to study the interactive behaviours of decision makers with conflict of interest. Substantial research has been devoted to study gaming behaviour in the deregulated electricity market using game theory. However, most of the modelling of the markets is static and this type of model leads to non-optimal results for long-term strategic planning due to the inherent dynamic nature of the market. This book formulates and describes the gaming behaviour in the deregulated electricity market from a dynamic point of view, considering long-term interests in a changing environment. It starts with a review of the current situation of deregulation and a brief review of near-term energy issues. The book includes the latest results on bidding dynamic strategies for such markets.
Book Synopsis Game Theoretic Analysis of Congestion, Safety and Security by : Kjell Hausken
Download or read book Game Theoretic Analysis of Congestion, Safety and Security written by Kjell Hausken and published by Springer. This book was released on 2014-12-31 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: Maximizing reader insights into the roles of intelligent agents in networks, air traffic and emergency departments, this volume focuses on congestion in systems where safety and security are at stake, devoting special attention to applying game theoretic analysis of congestion to: protocols in wired and wireless networks; power generation, air transportation and emergency department overcrowding. Reviewing exhaustively the key recent research into the interactions between game theory, excessive crowding, and safety and security elements, this book establishes a new research angle by illustrating linkages between the different research approaches and serves to lay the foundations for subsequent analysis. Congestion (excessive crowding) is defined in this work as all kinds of flows; e.g., road/sea/air traffic, people, data, information, water, electricity, and organisms. Analysing systems where congestion occurs – which may be in parallel, series, interlinked, or interdependent, with flows one way or both ways – this book puts forward new congestion models, breaking new ground by introducing game theory and safety/security into proceedings. Addressing the multiple actors who may hold different concerns regarding system reliability; e.g. one or several terrorists, a government, various local or regional government agencies, or others with stakes for or against system reliability, this book describes how governments and authorities may have the tools to handle congestion, but that these tools need to be improved whilst additionally ensuring safety and security against various threats. This game-theoretic analysis sets this two volume book apart from the current congestion literature and ensures that the work will be of use to postgraduates, researchers, 3rd/4th-year undergraduates, policy makers, and practitioners.
Book Synopsis 12th International Symposium on Process Systems Engineering and 25th European Symposium on Computer Aided Process Engineering by :
Download or read book 12th International Symposium on Process Systems Engineering and 25th European Symposium on Computer Aided Process Engineering written by and published by Elsevier. This book was released on 2015-07-14 with total page 2667 pages. Available in PDF, EPUB and Kindle. Book excerpt: 25th European Symposium on Computer-Aided Process Engineering contains the papers presented at the 12th Process Systems Engineering (PSE) and 25th European Society of Computer Aided Process Engineering (ESCAPE) Joint Event held in Copenhagen, Denmark, 31 May - 4 June 2015. The purpose of these series is to bring together the international community of researchers and engineers who are interested in computing-based methods in process engineering. This conference highlights the contributions of the PSE/CAPE community towards the sustainability of modern society. Contributors from academia and industry establish the core products of PSE/CAPE, define the new and changing scope of our results, and future challenges. Plenary and keynote lectures discuss real-world challenges (globalization, energy, environment, and health) and contribute to discussions on the widening scope of PSE/CAPE versus the consolidation of the core topics of PSE/CAPE. Highlights how the Process Systems Engineering/Computer-Aided Process Engineering community contributes to the sustainability of modern society Presents findings and discussions from both the 12th Process Systems Engineering (PSE) and 25th European Society of Computer-Aided Process Engineering (ESCAPE) Events Establishes the core products of Process Systems Engineering/Computer Aided Process Engineering Defines the future challenges of the Process Systems Engineering/Computer Aided Process Engineering community
Book Synopsis Electricity Generation and Transmission Planning in Deregulated Power Markets by : Yang He
Download or read book Electricity Generation and Transmission Planning in Deregulated Power Markets written by Yang He and published by . This book was released on 2007 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation addresses the long-term planning of power generation and transmission facilities in a deregulated power market. Three models with increasing complexities are developed, primarily for investment decisions in generation and transmission capacity. The models are presented in a two-stage decision context where generation and transmission capacity expansion decisions are made in the first stage, while power generation and transmission service fees are decided in the second stage. Uncertainties that exist in the second stage affect the capacity expansion decisions in the first stage. The first model assumes that the electric power market is not constrained by transmission capacity limit. The second model, which includes transmission constraints, considers the interactions between generation firms and the transmission network operator. The third model assumes that the generation and transmission sectors make capacity investment decisions separately. These models result in Nash-Cournot equilibrium among the unregulated generation firms, while the regulated transmission network operator supports the competition among generation firms. Several issues in the deregulated electric power market can be studied with these models such as market powers of generation firms and transmission network operator, uncertainties of the future market, and interactions between the generation and transmission sectors. Results deduced from the developed models include (a) regulated transmission network operator will not reserve transmission capacity to gain extra profits; instead, it will make capacity expansion decisions to support the competition in the generation sector; (b) generation firms will provide more power supplies when there is more demand; (c) in the presence of future uncertainties, the generation firms will add more generation capacity if the demand in the future power market is expected to be higher; and (d) the transmission capacity invested by the transmission network operator depends on the characteristic of the power market and the topology of the transmission network. Also, the second model, which considers interactions between generation and transmission sectors, yields higher social welfare in the electric power market, than the third model where generation firms and transmission network operator make investment decisions separately.
Book Synopsis Game Theoretic Approaches for Spectrum Redistribution by : Fan Wu
Download or read book Game Theoretic Approaches for Spectrum Redistribution written by Fan Wu and published by Springer Science & Business Media. This book was released on 2014-02-15 with total page 109 pages. Available in PDF, EPUB and Kindle. Book excerpt: This brief examines issues of spectrum allocation for the limited resources of radio spectrum. It uses a game-theoretic perspective, in which the nodes in the wireless network are rational and always pursue their own objectives. It provides a systematic study of the approaches that can guarantee the system’s convergence at an equilibrium state, in which the system performance is optimal or sub-optimal. The author provides a short tutorial on game theory, explains game-theoretic channel allocation in clique and in multi-hop wireless networks and explores challenges in designing game-theoretic mechanisms for dynamic channel redistribution. Since designing a completely secure mechanism is extremely expensive or impossible in most of distributed autonomous systems, it is more beneficial to study misbehavior of the nodes and develop light-weighted game-theoretic channel allocation mechanisms. With a mix of theoretical and hands-on information, the brief traces the concepts of game theory, the current state of spectrum allocation in wireless networks and future competition for resources. Thorough yet accessible, the content is ideal for researchers and practitioners working on spectrum redistribution. It is also a helpful resource for researchers and advanced-level students interested in game theory and wireless communications.
Book Synopsis Network and Temporal Effects on Strategic Bidding in Electricity Markets by : Youfei Liu
Download or read book Network and Temporal Effects on Strategic Bidding in Electricity Markets written by Youfei Liu and published by Open Dissertation Press. This book was released on 2017-01-27 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation, "Network and Temporal Effects on Strategic Bidding in Electricity Markets" by Youfei, Liu, 劉有飛, was obtained from The University of Hong Kong (Pokfulam, Hong Kong) and is being sold pursuant to Creative Commons: Attribution 3.0 Hong Kong License. The content of this dissertation has not been altered in any way. We have altered the formatting in order to facilitate the ease of printing and reading of the dissertation. All rights not granted by the above license are retained by the author. Abstract: of thesis entitled "Network And Temporal Effects On Strategic Bidding In Electricity Markets" Submitted by Youfei Liu for the Degree of Doctor of Philosophy at the University of Hong Kong in February 2006 The global deregulation of power industries has given rise to many fascinating research topics. This thesis addresses issues of strategic bidding by power generators. The problem of strategic bidding is to optimize an individual power generation bid by maximizing profits, based on production cost, expectation of rival behavior and system demand. Electrical power flow over different links is governed by the physical law (Kirchhoff law). As a result, electrical power flow cannot be independently determined and the electricity transmission system has global network effects. One major contribution of this study is to investigate the network effects of electricity transmission on strategic bidding and analyze the network-constrained electricity market equilibria. A three-node electricity system is used for investigation. The decision space of generators is divided into the congestion-on region and congestion-off region, and the optimal response curves of generators in each region are then derived. The market equilibrium is located as the intersection of these optimal response curves. It is analytically shown that this may consist either of a unique unconstrained market equilibrium, a unique constrained market equilibrium, multiple-equilibria, or no pure Nash equilibrium. Subsequently, the interaction between transmission rights holding and market power exercising is addressed. It is shown that in the situation with a positive PTDF, holding transmission rights mitigate market power, and produce an improvement in market efficiency, while in other situations, the reverse is true. Furthermore it is demonstrated that a possible allocation of transmission rights to generators can be found to achieve maximum efficiency. Another unique characteristic of electricity markets is their notable temporal ii effects. In other words, electricity prices have significant volatilities because of the non-storability of power energy and the large variations of system demand. The second part of this study investigates the temporal effects of the electricity market on strategic bidding. A periodic dynamic feedback system is proposed to model the generation competition process. With the developed system dynamics, an optimal control problem is formulated to study the multi-period optimization behavior (called the 'advanced' strategy) of a generator, and the state-feedback control rule is then derived via a sweeping method. It is demonstrated that the generator with optimal control can obtain more profits, and a sensitivity analysis is provided to locate the market factors that affect the performance of optimal control. Next, system uncertainties are included, and a stochastic optimal control problem for generation decision is formulated and solved. Two interesting problems are investigated, namely the effect of the generator's 'advanced' strategic behavior on market efficiency, and the way in which an individual's payoff evolves with other generators' 'advanced' strategic behavior. It is shown that the 'advanced' strategic behavior of generators will improve market efficiency, while an individual's payoff evolution resembles a 'Prisoner Dilemma'. An analysis of risk management of generation decisi...
Book Synopsis Generation Capacity Expansion Planning in Deregulated Electricity Markets by : Deepak Sharma
Download or read book Generation Capacity Expansion Planning in Deregulated Electricity Markets written by Deepak Sharma and published by . This book was released on 2009 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: With increasing demand of electric power in the context of deregulated electricity markets, a good strategic planning for the growth of the power system is critical for our tomorrow. There is a need to build new resources in the form of generation plants and transmission lines while considering the effects of these new resources on power system operations, market economics and the long-term dynamics of the economy. In deregulation, the exercise of generation planning has undergone a paradigm shift. The first stage of generation planning is now undertaken by the individual investors. These investors see investments in generation capacity as an increasing business opportunity because of the increasing market prices. Therefore, the main objective of such a planning exercise, carried out by individual investors, is typically that of long-term profit maximization. This thesis presents some modeling frameworks for generation capacity expansion planning applicable to independent investor firms in the context of power industry deregulation. These modeling frameworks include various technical and financing issues within the process of power system planning. The proposed modeling frameworks consider the long-term decision making process of investor firms, the discrete nature of generation capacity addition and incorporates transmission network modeling. Studies have been carried out to examine the impact of the optimal investment plans on transmission network loadings in the long-run by integrating the generation capacity expansion planning framework within a modified IEEE 30-bus transmission system network. The work assesses the importance of arriving at an optimal IRR at which the firm's profit maximization objective attains an extremum value. The mathematical model is further improved to incorporate binary variables while considering discrete unit sizes, and subsequently to include the detailed transmission network representation. The proposed models are novel in the sense that the planning horizon is split into plan sub-periods so as to minimize the overall risks associated with long-term plan models, particularly in the context of deregulation.
Book Synopsis Power Grid Operation in a Market Environment by : Hong Chen
Download or read book Power Grid Operation in a Market Environment written by Hong Chen and published by John Wiley & Sons. This book was released on 2016-09-27 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: Covers the latest practices, challenges and theoretical advancements in the domain of balancing economic efficiency and operation risk mitigation This book examines both system operation and market operation perspectives, focusing on the interaction between the two. It incorporates up-to-date field experiences, presents challenges, and summarizes the latest theoretic advancements to address those challenges. The book is divided into four parts. The first part deals with the fundamentals of integrated system and market operations, including market power mitigation, market efficiency evaluation, and the implications of operation practices in energy markets. The second part discusses developing technologies to strengthen the use of the grid in energy markets. System volatility and economic impact introduced by the intermittency of wind and solar generation are also addressed. The third part focuses on stochastic applications, exploring new approaches of handling uncertainty in Security Constrained Unit Commitment (SCUC) as well as the reserves needed for power system operation. The fourth part provides ongoing efforts of utilizing transmission facilities to improve market efficiency, via transmission topology control, transmission switching, transmission outage scheduling, and advanced transmission technologies. Besides the state-of-the-art review and discussion on the domain of balancing economic efficiency and operation risk mitigation, this book: Describes a new approach for mass market demand response management, and introduces new criteria to improve system performance with large scale variable generation additions Reviews mathematic models and solution methods of SCUC to help address challenges posed by increased operational uncertainties with high-penetration of renewable resources Presents a planning framework to account for the value of operational flexibility in transmission planning and to provide market mechanism for risk sharing Power Grid Operations in a Market Environment: Economic Efficiency and Risk Mitigation is a timely reference for power engineers and researchers, electricity market traders and analysts, and market designers.
Book Synopsis Multilevel Strategic Interaction Game Models for Complex Networks by : Eitan Altman
Download or read book Multilevel Strategic Interaction Game Models for Complex Networks written by Eitan Altman and published by Springer Nature. This book was released on 2019-10-18 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a state-of-the-art overview on the dynamics and coevolution in multi-level strategic interaction games. As such it summarizes the results of the European CONGAS project, which developed new mathematical models and tools for the analysis, prediction and control of dynamical processes in systems possessing a rich multi-level structure and a web of interwoven interactions among elements with autonomous decision-making capabilities. The framework is built around game theoretical concepts, in particular evolutionary and multi-resolution games, and includes also techniques drawn from graph theory, statistical mechanics, control and optimization theory. Specific attention is devoted to systems that are prone to intermittency and catastrophic events due to the effect of collective dynamics.
Book Synopsis Game Theory for Next Generation Wireless and Communication Networks by : Zhu Han
Download or read book Game Theory for Next Generation Wireless and Communication Networks written by Zhu Han and published by Cambridge University Press. This book was released on 2019-06-27 with total page 509 pages. Available in PDF, EPUB and Kindle. Book excerpt: A unified treatment of the latest game theoretic approaches for designing, modeling, and optimizing emerging wireless communication networks. Covering theory, analytical tools, and applications, it is ideal for researchers and graduate students in academia and industry designing efficient, scalable and robust protocols for future wireless networks.
Book Synopsis Game Theory, the Internet of Things and 5G Networks by : Josephina Antoniou
Download or read book Game Theory, the Internet of Things and 5G Networks written by Josephina Antoniou and published by Springer. This book was released on 2019-05-13 with total page 110 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book shows how to model selected communication scenarios using game theory. The book helps researchers specifically dealing with scenarios motivated by the increasing use of the Internet of Things (IoT) and 5G Communications by using game theory to approach the study of such challenging scenarios. The author explains how game theory acts as a mathematical tool that models decision making in terms of strategies and mechanisms that can result in optimal payoffs for a number of interacting entities, offering often antagonistic behaviors. The book explores new technologies in terms of design, development and management from a theoretical perspective, using game theory to analyze strategic situations and demonstrate profitable behaviors of the cooperative entities. The book identifies and explores several significant applications/uses/situations that arise from the vast deployment of the IoT. The presentation of the technological scenarios is followed in each of the first four chapters by a step-by-step theoretical model often followed by equilibrium proof, and numerical simulation results, that are explained in a tutorial-like manner. The four chapters tackle challenging IoT and 5G related issues, including: new security threats that IoT brings, e.g. botnets, ad hoc vehicular networks and the need for trust in vehicular communications, content repetition by offloading traffic onto mobile users, as well as issues due to new wearable devices that enable data collection to become more intrusive.
Book Synopsis Electricity Deregulation by : James M. Griffin
Download or read book Electricity Deregulation written by James M. Griffin and published by University of Chicago Press. This book was released on 2009-11-15 with total page 453 pages. Available in PDF, EPUB and Kindle. Book excerpt: The electricity market has experienced enormous setbacks in delivering on the promise of deregulation. In theory, deregulating the electricity market would increase the efficiency of the industry by producing electricity at lower costs and passing those cost savings on to customers. As Electricity Deregulation shows, successful deregulation is possible, although it is by no means a hands-off process—in fact, it requires a substantial amount of design and regulatory oversight. This collection brings together leading experts from academia, government, and big business to discuss the lessons learned from experiences such as California's market meltdown as well as the ill-conceived policy choices that contributed to those failures. More importantly, the essays that comprise Electricity Deregulation offer a number of innovative prescriptions for the successful design of deregulated electricity markets. Written with economists and professionals associated with each of the network industries in mind, this comprehensive volume provides a timely and astute deliberation on the many risks and rewards of electricity deregulation.
Book Synopsis Game-theoretic Equilibrium Analysis Applications to Deregulated Electricity Markets by : Manho Joung
Download or read book Game-theoretic Equilibrium Analysis Applications to Deregulated Electricity Markets written by Manho Joung and published by . This book was released on 2008 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation examines game-theoretic equilibrium analysis applications to deregulated electricity markets. In particular, three specific applications are discussed: analyzing the competitive effects of ownership of financial transmission rights, developing a dynamic game model considering the ramp rate constraints of generators, and analyzing strategic behavior in electricity capacity markets. In the financial transmission right application, an investigation is made of how generators' ownership of financial transmission rights may influence the effects of the transmission lines on competition. In the second application, the ramp rate constraints of generators are explicitly modeled using a dynamic game framework, and the equilibrium is characterized as the Markov perfect equilibrium. Finally, the strategic behavior of market participants in electricity capacity markets is analyzed and it is shown that the market participants may exaggerate their available capacity in a Nash equilibrium. It is also shown that the more conservative the independent system operator's capacity procurement, the higher the risk of exaggerated capacity offers.
