English, Article, Journal or magazine article edition: Dynamic LMP Response Under Alternative Price-Cap and Price-Sensitive Demand Scenarios Li, Hongyan; Sun, Junjie; Tesfatsion, Leigh S.

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Bookmark: http://trove.nla.gov.au/version/128424
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Dynamic LMP Response Under Alternative Price-Cap and Price-Sensitive Demand Scenarios
Author
  • Li, Hongyan
  • Sun, Junjie
  • Tesfatsion, Leigh S.
Physical Description
  • preprint
Notes
  • 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. Related work can be accessed at: http:/​/​www.econ.iastate.edu/​tesfatsi/​AMESMarketHome.htm
  • Restructured wholesale power markets; Agent-based test bed; Locational marginal prices; demand-bid price sensitivity; supply-offer price caps
  • RePEc:isu:genres:12975
Language
  • English
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