Mitigation of Market Power in deregulated power system using Nash Equilibrium
- Resource Type
- Conference
- Authors
- Khan, Mohd Tauseef; Siddiqui, Anwar Shahzad; Sarwar, Md; Iqbal, Fahad
- Source
- 2015 Annual IEEE India Conference (INDICON) India Conference (INDICON), 2015 Annual IEEE. :1-5 Dec, 2015
- Subject
- Communication, Networking and Broadcast Technologies
Components, Circuits, Devices and Systems
Computing and Processing
Power, Energy and Industry Applications
Robotics and Control Systems
Signal Processing and Analysis
Generators
Power transmission lines
Nash equilibrium
Electricity supply industry
Power system stability
Games
Market Power
Deregulated Power System
Nash Equilibrium
Herfindahl-Hirschman index (HHI)
- Language
- ISSN
- 2325-9418
Market Power is one of the major issues present in deregulated power system. Some of the participants game the constraints to gain large market power which results in inefficiency, higher costs and low consumer benefit. The paper discusses the market power, its analysis and mitigation technique. Nash Equilibrium is used in this paper to mitigate the market power. Two cases are discussed in this paper; market power without transmission constraints and market power with transmission constraints. Market power with transmission constraints presents more complex situation, as one or more participants can game the constraints and can create an artificial congestion. Three generator hypothetical situation is simulated for analysis and mitigation of market power.