Campus Units

Economics, Electrical and Computer Engineering

Document Type

Conference Proceeding

Conference

2008 IEEE Power and Energy Society General Meeting - Conversion and Delivery of Electrical Energy in the 21st Century

Publication Version

Submitted Manuscript

Link to Published Version

http://dx.doi.org/10.1109/PES.2008.4596069

Publication Date

2008

Journal or Book Title

Proceedings of the IEEE Power and Energy Society General Meeting

DOI

10.1109/PES.2008.4596069

Conference Title

2008 IEEE Power and Energy Society General Meeting - Conversion and Delivery of Electrical Energy in the 21st Century

Conference Date

August 12, 2008

City

Pittsburgh, PA

Abstract

This study investigates the complicated nonlinear effects of demand-bid price sensitivity and supply-offer price caps on Locational Marginal Prices (LMPs) for bulk electric power when profit-seeking generators can learn over time how to strategize their supply offers. Systematic computational experiments are conducted using AMES, an open-source agent-based test bed developed by the authors. AMES models a restructured wholesale power market operating through time over an AC transmission grid subject to line constraints, generation capacity constraints, and strategic trader behaviors.

Comments

© 2008 IEEE. Personal use of this material is permitted. Permission from IEEE must be obtained for all other uses, in any current or future media, including reprinting/republishing this material for advertising or promotional purposes, creating new collective works, for resale or redistribution to servers or lists, or reuse of any copyrighted component of this work in other works. DOI: 10.1109/PES.2008.4596069

Rights

Works produced by employees of the U.S. Government as part of their official duties are not copyrighted within the U.S. The content of this document is not copyrighted.

Language

en

File Format

application/pdf

Published Version

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Article Location

 
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