Generation companies decision-making modeling by linear control theory |
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| Authors: | G. Gutié rrez-Alcaraz,Gerald B. Sheblé |
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| Affiliation: | 1. Programa de Graduados e Investigación en Ingeniería Eléctrica. Departamento de Ingeniería Eléctrica y Electrónica, Instituto Tecnológico de Morelia. Av. Tecnológico 1500, Col. Lomas de Santiaguito 58120. Morelia, Mich., México;2. INESC Porto, Faculdade de Engenharia, Universidade do Porto, Campus da FEUP, Rua Dr. Roberto Frias, 4200–465 Porto, Portugal |
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| Abstract: | This paper proposes four decision-making procedures to be employed by electric generating companies as part of their bidding strategies when competing in an ologopolistic market: naïve, forward, adaptive, and moving average expectations. Decision-making is formulated in a dynamic framework by using linear control theory. The results reveal that interactions among all GENCOs affect market dynamics. Several numerical examples are reported, and conclusions are presented. |
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| Keywords: | Oligopolistic competition Cournot model Electricity market |
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