Firm-based measurements of market power in transmission-constrained electricity markets

Yen Yu Lee, Ross Baldick, Jin Hur

Research output: Contribution to journalArticlepeer-review

36 Scopus citations

Abstract

In this paper, two different approaches to analyzing firm-based market power considering transmission constraints are proposed. One is an application of the transmission-constrained residual demand Jacobian, while the other is a generalization of the "residual supply index" to the case of transmission constraints. These two approaches provide complementary evaluations of market power. Medium- and large-scale system examples are provided to demonstrate computational efficiency, and both approaches could be applied to real-world electricity markets.

Original languageEnglish
Article number5876289
Pages (from-to)1962-1970
Number of pages9
JournalIEEE Transactions on Power Systems
Volume26
Issue number4
DOIs
StatePublished - Nov 2011

Bibliographical note

Funding Information:
Manuscript received February 25, 2010; revised August 26, 2010, October 08, 2010, and November 16, 2010; accepted December 04, 2010. Date of publication June 16, 2011; date of current version October 21, 2011. This work was supported by the National Science Foundation under grant number ECCS-0801511. Paper no. TPWRS-00152-2010.

Keywords

  • Electricity markets
  • market power
  • market power index
  • residual supply index
  • transmission constraints

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