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Presentation
Dynamic LMP response under alternative price-cap and price-sensitive demand scenarios
Proceedings of the IEEE Power and Energy Society General Meeting
  • Hongyan Li, Iowa State University
  • Junjie Sun, United States Treasury
  • Leigh Tesfatsion, Iowa State University
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
1-1-2008
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
Geolocation
(40.44062479999999, -79.99588640000002)
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
Citation Information
Hongyan Li, Junjie Sun and Leigh Tesfatsion. "Dynamic LMP response under alternative price-cap and price-sensitive demand scenarios" Pittsburgh, PAProceedings of the IEEE Power and Energy Society General Meeting (2008)
Available at: http://works.bepress.com/leigh-tesfatsion/58/