Market plurality and manipulation: Performance comparison of independent system operators

TitleMarket plurality and manipulation: Performance comparison of independent system operators
Publication TypeJournal Article
Year of Publication2002
AuthorsNakashima, T., and T. Niimura
JournalIEEE Transactions on Power Systems
Volume17
Pagination762–767
ISSN0885-8950
Abstract

In this paper, the authors present three different models that represent the coordinating functions of existing independent system operators (ISOs), and discuss their advantages and disadvantages. Max-ISO is a centralized operator based on the pool model, and min-ISO is a decentralized operator based on the bilateral model. Mix-ISO is positioned in between, having multiple power exchanges or bilateral contracts. The performance of the different ISOs is compared by the total social welfare and the vulnerability to market manipulation. A numerical example is presented to compare the performance of different ISOs. The max-ISO is considered to be the most efficient model theoretically, but it does not necessarily provide the best market in terms of vulnerability to market manipulation.

URLhttp://dx.doi.org/10.1109/TPWRS.2002.800955
DOI10.1109/TPWRS.2002.800955

a place of mind, The University of British Columbia

Electrical and Computer Engineering
2332 Main Mall
Vancouver, BC Canada V6T 1Z4
Tel +1.604.822.2872
Fax +1.604.822.5949
Email:

Emergency Procedures | Accessibility | Contact UBC | © Copyright 2020 The University of British Columbia