Application of Designing Economic Mechanisms to Power Market - Part 1 Generation Side Power Market Design
نویسندگان
چکیده
The paper studies on the core philosophy and algorithm of the designing economic mechanisms theory, a new algorithm of designing incentive compatible power market mechanisms is proposed, a generation side power market mechanism model which has features of inventive compatibility, informationally efficient and decentralized decision is constructed. The power market based on the designing economic mechanisms theory can lead to the Pareto Optimality of the resource allocation; meanwhile GENCOs are permitted to pursue profits maximization. The paper is in two parts. Part 1 focuses on the process of constructing a generation side power market competitive mechanism model based on the designing economic mechanisms theory. Part 2 presents the characteristic analysis of the generation side power market competitive mechanism.
منابع مشابه
Application of Designing Economic Mechanisms to Power Market - Part 2 Characteristic Analysis of Generation Side Power Market
The incentive power market may lead to a high information cost if it is not informationally efficient. The paper analyzes the characteristic of the generation side power market mechanism model based on the designing economic mechanisms theory by the three GENCOs (Generation Companies) case. The result of analysis is that the mechanism model has four main features: the informationally efficient ...
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