Title:
2009.Generation-Capacity-Expansion-in-Energy-Mark
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Description: 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-tier matrix game model, and a novel solution
algorithm that incorporates risk due to volatilities in profit
(via CVaR), intended for use by generators to make multi-period,
multi-player generation capacity expansion decisions. We demonstrate
the applicability of the model using a sample network from
PowerWorld software and analyze the results.
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2009.Generation Capacity Expansion in Energy Markets Using a Two-Level Game-Theoretic Model.pdf
