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conference paper
Modelling generation capacity margin as a dynamic control problem
2006
Proceedings of 2006 IEEE Power Engineering Society General Meeting
In this paper generation investment process in a liberalised electricity market is simulated as a dynamic control problem with prices, both current and predicted, acting as a feedback variable. Market price is modelled as a function of the capacity margin only. We model an energy-only market, with no capacity payments. The model includes different power plant types with different investment lags, lumpy investment, possibility of mothballing and different investment behaviour. It is shown that the modelled market itself cannot guarantee a sufficient capacity margin and exhibits an oscillatory behaviour
Type
conference paper
Authors
Publication date
2006
Published in
Proceedings of 2006 IEEE Power Engineering Society General Meeting
Peer reviewed
REVIEWED
Written at
EPFL
Event name | Event date |
2006 | |
Available on Infoscience
April 4, 2007
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