Generation Investment and Risks Modeling in a Deregulated Electricity Market
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Tika Ram Limbu
A new probabilistic model to simulate generation investment and risks applicable in a deregulated market is proposed. In this process, probabilistic production cost simulation is applied to simulate energy dispatches. Electricity prices are simulated from a modified Black-Scholes-Merton (BSM) based price simulation model. In this work, the existing BSM model is enhanced thus making it possible to simulate the demand and supply conditions in price determination. A complete investment analysis model is then developed by integrating the above two simulation processes. Using this model, generator investors can analyze the impacts on the anticipated revenue due to different plant efficiency, availabilities, bilateral contract markets and changes in demand and supply conditions. Simulated results show that the proposed model is able to analyse the viability in generation investment with much simplicity.
©2011 Walter de Gruyter GmbH & Co. KG, Berlin/Boston
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- Dual Voltage Driveline for Vehicle Applications
- Linear Programming Approach for Power System State Estimation Using Upper Bound Optimization Techniques
- Evaluation and Improvement of Total Transfer Capability in an Interconnected Power System
- A Fast Restoration Strategy in Distribution Systems Using an Enhanced Differential Evolution Approach
- Generation Investment and Risks Modeling in a Deregulated Electricity Market
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Articles in the same Issue
- Article
- Dual Voltage Driveline for Vehicle Applications
- Linear Programming Approach for Power System State Estimation Using Upper Bound Optimization Techniques
- Evaluation and Improvement of Total Transfer Capability in an Interconnected Power System
- A Fast Restoration Strategy in Distribution Systems Using an Enhanced Differential Evolution Approach
- Generation Investment and Risks Modeling in a Deregulated Electricity Market
- Standing Phase Angle Reduction Based on a Wide Area Monitoring System Using Genetic Algorithm
- Propagation Characteristics of Partial Discharge Signals
