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Research on the Effects of the Most Used Market Power Mitigation Mechanisms Considering Different Market Environments

Yangsheng Sun1, Zhihua Wang1, Gaoqin Wang2, Beibei Wang3,*

1 State Grid Shanghai Municipal Electric Power Company, Shanghai, 200122, China
2 China Electric Power Research Institute Co., Ltd., Nanjing, 210003, China
3 Southeast University, Nanjing, 210096, China

* Corresponding Author: Beibei Wang. Email: email

Energy Engineering 2022, 119(6), 2193-2210. https://doi.org/10.32604/ee.2022.020943

Abstract

The market power mitigation method of the supply-side has become one of the key points affecting the stability of the electricity spot market. Different mitigation mechanisms are used in the current mature electricity markets of the world. However, the same market power mitigation mechanism shows different effects in different market environments. Every market operator in the world needs the most efficient way to mitigate market power. Considering that there is no relevant literature discussing the market power effects of different mitigation methods in detail, the mitigation effects need to be discussed and further researched. So, we analyze the effects of the most utilized market power mitigation mechanisms while considering different market environments. Firstly, we establish a Nash-Stackelberg interactive game model to simulate the competitive strategies of power suppliers. Secondly, the different market power mitigation approaches are modeled. Then, a multi-agent system (MAS) genetic interior-point algorithm is proposed to solve the problem of suppliers. Finally, through the simulation analysis, the market power mitigation effects of different mechanisms while considering three operation states of the system in two market structures are all analyzed.

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APA Style
Sun, Y., Wang, Z., Wang, G., Wang, B. (2022). Research on the effects of the most used market power mitigation mechanisms considering different market environments. Energy Engineering, 119(6), 2193-2210. https://doi.org/10.32604/ee.2022.020943
Vancouver Style
Sun Y, Wang Z, Wang G, Wang B. Research on the effects of the most used market power mitigation mechanisms considering different market environments. Energ Eng. 2022;119(6):2193-2210 https://doi.org/10.32604/ee.2022.020943
IEEE Style
Y. Sun, Z. Wang, G. Wang, and B. Wang "Research on the Effects of the Most Used Market Power Mitigation Mechanisms Considering Different Market Environments," Energ. Eng., vol. 119, no. 6, pp. 2193-2210. 2022. https://doi.org/10.32604/ee.2022.020943



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