TY - GEN
T1 - Supply Function Equilibrium-based Generation Capacity Expansion Planning for Capacity Market
AU - Zhang, Aoxiang
AU - Ding, Yibo
AU - Wu, Huayi
AU - Xu, Zhao
N1 - Publisher Copyright:
© 2024 IEEE.
PY - 2024/11
Y1 - 2024/11
N2 - This paper presents a generation capacity expansion planning method for the capacity markets with generation companies' market power. The strategies of the system operator and generation companies in the capacity market are formulated as a bi-level optimization model. The model is solved by analyzing the competition of generation companies as a non-cooperative game and employing Supply Function Equilibrium to obtain the capacity prices. The case studies verified the effectiveness of the proposed method in reducing the capacity payment and mitigating the abuse of market power possessed by generation companies.
AB - This paper presents a generation capacity expansion planning method for the capacity markets with generation companies' market power. The strategies of the system operator and generation companies in the capacity market are formulated as a bi-level optimization model. The model is solved by analyzing the competition of generation companies as a non-cooperative game and employing Supply Function Equilibrium to obtain the capacity prices. The case studies verified the effectiveness of the proposed method in reducing the capacity payment and mitigating the abuse of market power possessed by generation companies.
KW - capacity market
KW - generation expansion planning
KW - non-cooperative game
KW - supply function equilibrium
UR - https://www.scopus.com/pages/publications/105007635003
U2 - 10.1109/EI264398.2024.10991504
DO - 10.1109/EI264398.2024.10991504
M3 - Conference article published in proceeding or book
AN - SCOPUS:105007635003
T3 - 2024 IEEE 8th Conference on Energy Internet and Energy System Integration, EI2 2024
SP - 4006
EP - 4010
BT - 2024 IEEE 8th Conference on Energy Internet and Energy System Integration, EI2 2024
PB - Institute of Electrical and Electronics Engineers Inc.
T2 - 8th IEEE Conference on Energy Internet and Energy System Integration, EI2 2024
Y2 - 29 November 2024 through 2 December 2024
ER -
