Detail publikace

Game-Theoretic Modeling of Electricity Markets in Central Europe

Originální název

Game-Theoretic Modeling of Electricity Markets in Central Europe

Anglický název

Game-Theoretic Modeling of Electricity Markets in Central Europe

Jazyk

en

Originální abstrakt

The paper deals with the methodology of computer modeling and simulation of complex markets with electricity and related products. The methodology is presented using a particular configuration of Central European markets with decentralized trading and international electricity transfers. The modeling approach is based on pure computer numerical solution in discrete state space determined by problems on which the modeled players are expected to decide -- price offered for electricity supplied to various markets, breakdown of total power generation into individual commodities (yearly band, monthly band, spinning reserve) and setting bids in auctions for cross-border profiles. Similar approach to decision-making is adopted on the buyer's side. Buyers are expected to strive to contract power supplies in the way that is most advantageous for them. The generated state space is then analyzed using concepts of mathematical game theory. In this way, we obtain a prediction of probable decisions of modeled players in their market competition. Finally, we present a simplified power system forecast for Central Europe for year 2009.

Anglický abstrakt

The paper deals with the methodology of computer modeling and simulation of complex markets with electricity and related products. The methodology is presented using a particular configuration of Central European markets with decentralized trading and international electricity transfers. The modeling approach is based on pure computer numerical solution in discrete state space determined by problems on which the modeled players are expected to decide -- price offered for electricity supplied to various markets, breakdown of total power generation into individual commodities (yearly band, monthly band, spinning reserve) and setting bids in auctions for cross-border profiles. Similar approach to decision-making is adopted on the buyer's side. Buyers are expected to strive to contract power supplies in the way that is most advantageous for them. The generated state space is then analyzed using concepts of mathematical game theory. In this way, we obtain a prediction of probable decisions of modeled players in their market competition. Finally, we present a simplified power system forecast for Central Europe for year 2009.

BibTex


@article{BUT50800,
  author="Martin {Hrubý} and Petr {Čambala} and Jan {Toufar}",
  title="Game-Theoretic Modeling of Electricity Markets in Central Europe",
  annote="The paper deals with the methodology of computer modeling and simulation of
complex markets with electricity and related products. The methodology is
presented using a particular configuration of Central European markets with
decentralized trading and international electricity transfers. The modeling
approach is based on pure computer numerical solution in discrete state space
determined by problems on which the modeled players are expected to decide --
price offered for electricity supplied to various markets, breakdown of total
power generation into individual commodities (yearly band, monthly band, spinning
reserve) and setting bids in auctions for cross-border profiles. Similar approach
to decision-making is adopted on the buyer's side. Buyers are expected to strive
to contract power supplies in the way that is most advantageous for them. The
generated state space is then analyzed using concepts of mathematical game
theory. In this way, we obtain a prediction of probable decisions of modeled
players in their market competition. Finally, we present a simplified power
system forecast for Central Europe for year 2009.",
  address="NEUVEDEN",
  chapter="50800",
  edition="NEUVEDEN",
  howpublished="print",
  institution="NEUVEDEN",
  journal="AUCO Czech Economic Review",
  number="1",
  volume="4",
  year="2010",
  month="february",
  pages="32--61",
  publisher="NEUVEDEN",
  type="journal article - other"
}