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Evaluation of FIT impacts on market clearing price in the restructured power market


Citation

Askari, Mohammad Tolou and Ab Kadir, Mohd Zainal Abidin and Bolandifar, Ehsan (2015) Evaluation of FIT impacts on market clearing price in the restructured power market. In: 2015 IEEE Student Conference on Research and Development (SCOReD), 13-14 Dec. 2015, Berjaya Times Square Hotel, Kuala Lumpur, Malaysia. (pp. 224-227).

Abstract / Synopsis

The development of intermittent wind firms in the restructured power market has required the entry of several creative approaches in evaluating the market clearing price in the restructured power market. This study proposes a model to investigate the seasonal market clearing price by considering the hybrid wind-heat firm. In this article, fixed and variable Feed in Tariff (FIT) is considered and compared as two regulatory policies for wind generation units. Wind resources modeled by using the scenario based technique. Furthermore, strategic behavior of other investors is considered based on the game theory concepts. The Cournot game concept has been applied to determine the Nash equilibrium for each state of stochastic programming. This model has been implemented on a test system. The effects of the fixed and variable FIT and the variations of electricity price cap have been investigated on the profit of each firm in the restructured power market. Moreover, the market clearing price offered for each season and load level.


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Additional Metadata

Item Type: Conference or Workshop Item (Paper)
Divisions: Faculty of Engineering
DOI Number: https://doi.org/10.1109/SCORED.2015.7449329
Publisher: IEEE
Keywords: Game theory; Market clearing prices; Renewable energy; Restructured power market; Smart grid
Depositing User: Nabilah Mustapa
Date Deposited: 07 Jun 2017 12:52
Last Modified: 07 Jun 2017 12:52
Altmetrics: http://www.altmetric.com/details.php?domain=psasir.upm.edu.my&doi=10.1109/SCORED.2015.7449329
URI: http://psasir.upm.edu.my/id/eprint/55639
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