Market oriented planning of power generation expansion using agent-based model

The deregulated electricity industry is characterized by structural change and strategic behaviors of market participants. There is a need of a novel model for medium and long term planning that could include games theoretical assumptions as well as other more complex assumptions. This paper propose...

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Bibliographic Details
Published inIEEE PES Power Systems Conference and Exposition, 2004 pp. 1306 - 1311 vol.3
Main Authors Gnansounou, E., Dong, J., Pierre, S., Quintero, A.
Format Conference Proceeding
LanguageEnglish
Published IEEE 2004
Subjects
Capacity planning
Electricity supply industry
Game theory
Investments
Power generation
Power generation planning
Power system planning
Process planning
Strategic planning
Technology planning
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Summary:The deregulated electricity industry is characterized by structural change and strategic behaviors of market participants. There is a need of a novel model for medium and long term planning that could include games theoretical assumptions as well as other more complex assumptions. This paper proposes a new agent-based model designed to support decentralized planning activities in electricity supply industry, with a certain level of flexibility. In this model, the expansion planning method is developed around a multiagent simulation system where the interactions among agents in electricity market are simulated. An example is given to illustrate the proposed model.
ISBN:078038718X
9780780387188
DOI:10.1109/PSCE.2004.1397588