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Auction performance evaluation in deregulated electricity markets

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Material Information

Title:
Auction performance evaluation in deregulated electricity markets
Physical Description:
Book
Language:
English
Creator:
Nanduri, Vishnuteja
Publisher:
University of South Florida
Place of Publication:
Tampa, Fla.
Publication Date:

Subjects

Subjects / Keywords:
First price uniform auction
Second price uniform auction
Discriminatory auction
Multi-unit auctions
Reinforcement learning
Dissertations, Academic -- Industrial Engineering -- Masters -- USF   ( lcsh )
Genre:
government publication (state, provincial, terriorial, dependent)   ( marcgt )
bibliography   ( marcgt )
theses   ( marcgt )
non-fiction   ( marcgt )

Notes

Summary:
ABSTRACT: In a deregulated electricity market, auction serves as a primary pricing tool in various segments of the market including day-ahead, real time, ancillary services markets, and Financial Transmission Rights (FTRs) market. Deregulated power markets around the world use different auction strategies that exist in the literature, since very little comparative guidelines exist as to the relative merits of these strategies. In this thesis, a computational methodology and its solution framework are developed to evaluate the impact of an auction strategy on the equilibrium prices in a constrained network with multiple generators at nodes, and where transactions are settled using the optimal power flow (OPF) program. The methodology is tested on a power market represented by a sample 12-bus IEEE network available in the MATPOWER software, which is reconfigured to allow multiple generators to supply power at a bus.The network is used as a platform to comprehensively assess the performance of uniform price auction, discriminatory auction, and second-price uniform auction. Auction rules are used to update generator costs, which are then introduced into the OPF program for obtaining optimal price and quantity allocations. This Auction-OPF procedure is embedded within a game theoretic model that obtains the equilibrium bidding strategies and the corresponding prices and quantities for the network. A detailed comparison of the auction mechanisms is carried out using different measures of performance such as revenue, average prices, and quantity weighted average prices. The comparison shows that there is, perhaps, an appreciable difference among the auction mechanisms.
Thesis:
Thesis (M.S.I.E.)--University of South Florida, 2005.
Bibliography:
Includes bibliographical references.
System Details:
System requirements: World Wide Web browser and PDF reader.
System Details:
Mode of access: World Wide Web.
Statement of Responsibility:
by Vishnuteja Nanduri.
General Note:
Title from PDF of title page.
General Note:
Document formatted into pages; contains 72 pages.

Record Information

Source Institution:
University of South Florida Library
Holding Location:
University of South Florida
Rights Management:
All applicable rights reserved by the source institution and holding location.
Resource Identifier:
aleph - 001681023
oclc - 62587953
usfldc doi - E14-SFE0001105
usfldc handle - e14.1105
System ID:
SFS0025426:00001


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Nanduri, Vishnuteja.
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Auction performance evaluation in deregulated electricity markets
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by Vishnuteja Nanduri.
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[Tampa, Fla.] :
b University of South Florida,
2005.
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Thesis (M.S.I.E.)--University of South Florida, 2005.
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Includes bibliographical references.
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Text (Electronic thesis) in PDF format.
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System requirements: World Wide Web browser and PDF reader.
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ABSTRACT: In a deregulated electricity market, auction serves as a primary pricing tool in various segments of the market including day-ahead, real time, ancillary services markets, and Financial Transmission Rights (FTRs) market. Deregulated power markets around the world use different auction strategies that exist in the literature, since very little comparative guidelines exist as to the relative merits of these strategies. In this thesis, a computational methodology and its solution framework are developed to evaluate the impact of an auction strategy on the equilibrium prices in a constrained network with multiple generators at nodes, and where transactions are settled using the optimal power flow (OPF) program. The methodology is tested on a power market represented by a sample 12-bus IEEE network available in the MATPOWER software, which is reconfigured to allow multiple generators to supply power at a bus.The network is used as a platform to comprehensively assess the performance of uniform price auction, discriminatory auction, and second-price uniform auction. Auction rules are used to update generator costs, which are then introduced into the OPF program for obtaining optimal price and quantity allocations. This Auction-OPF procedure is embedded within a game theoretic model that obtains the equilibrium bidding strategies and the corresponding prices and quantities for the network. A detailed comparison of the auction mechanisms is carried out using different measures of performance such as revenue, average prices, and quantity weighted average prices. The comparison shows that there is, perhaps, an appreciable difference among the auction mechanisms.
590
Adviser: Dr. Tapas K. Das.
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First price uniform auction.
Second price uniform auction.
Discriminatory auction.
Multi-unit auctions.
Reinforcement learning.
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Dissertations, Academic
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