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A simulation model for long-term analysis of the electricity market

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Author
Or, İlhan
Paşaoğlu Kılanç, Güzay
Type
Article
Date
2006
Language
en_US
Metadata
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Abstract
After the liberalization of the electricity generation industry, capacity expansion decisions are made by multiple self-oriented power companies. Unlike the regulated environment, decision-making of market participants is now guided by price signal feedbacks and by an imperfect foresight of the future market conditions that they will face. In such an environment, decision makers need to understand long-term dynamics of the supply and demand side of the power market. To visualize the competitive electricity power market dynamics, a simulation model based on system dynamic philosophy is developed in this study. The developed model includes the demand module, the capacity expansion module, the power generation sector, an accounting and financial module, various competitors and a bidding mechanism (power pooling system). By means of such a decision tool, companies and regulators have a better opportunity to understand possible consequences of different decisions that they may make under different policies and market conditions. The main part of the paper is devoted to a detailed presentation of the model. At the end, some findings of the preliminary scenario analysis are discussed.
Subject
electricity market
system dynamic
simulation
URI
https://hdl.handle.net/11413/2445
Collections
  • Makaleler / Articles [70]
  • Scopus Publications [724]
  • WoS Publications [1016]

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İstanbul Kültür University

Hakkında |Politika | Kütüphane | İletişim | Send Feedback | Admin

Istanbul Kültür University, Ataköy Campus E5 Karayolu Üzeri Bakırköy 34158, İstanbul / TURKEY
Copyright © İstanbul Kültür University

Creative Commons Lisansı
IKU Institutional Repository, Creative Commons Alıntı-GayriTicari-Türetilemez 4.0 Uluslararası Lisansı ile lisanslanmıştır.

Designed by  UNIREPOS