Long-term Hydrothermal Bid-based Market Simulator
CoRR(2024)
摘要
Simulating long-term hydrothermal bid-based markets considering strategic
agents is a challenging task. The representation of strategic agents
considering inter-temporal constraints within a stochastic framework brings
additional complexity to the already difficult single-period bilevel, thus,
non-convex, optimal bidding problem. Thus, we propose a simulation methodology
that effectively addresses these challenges for large-scale hydrothermal power
systems. We demonstrate the effectiveness of the framework through a case study
with real data from the large-scale Brazilian power system. In the case
studies, we show the effects of market concentration in power systems and how
contracts can be used to mitigate them. In particular, we show how market power
might affect the current setting in Brazil. The developed method can strongly
benefit policy makers, market monitors, and market designers as simulations can
be used to understand existing power systems and experiment with alternative
designs.
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