Abstract: Restructured electricity markets may provide
opportunities for producers to exercise market power maintaining
prices in excess of competitive levels. In this paper an oligopolistic
market is presented that all Generation Companies (GenCos) bid in a
Cournot model. Genetic algorithm (GA) is applied to obtain
generation scheduling of each GenCo as well as hourly market
clearing prices (MCP). In order to consider network constraints a
multiperiod framework is presented to simulate market clearing
mechanism in which the behaviors of market participants are
modelled through piecewise block curves. A mixed integer linear
programming (MILP) is employed to solve the problem. Impacts of
market clearing process on participants- characteristic and final
market prices are presented. Consequently, a novel multi-objective
model is addressed for security constrained optimal bidding strategy
of GenCos. The capability of price-maker GenCos to alter MCP is
evaluated through introducing an effective-supply curve. In addition,
the impact of exercising market power on the variation of market
characteristics as well as GenCos scheduling is studied.
Abstract: Wind farms (WFs) with high level of penetration are
being established in power systems worldwide more rapidly than
other renewable resources. The Independent System Operator (ISO),
as a policy maker, should propose appropriate places for WF
installation in order to maximize the benefits for the investors. There
is also a possibility of congestion relief using the new installation of
WFs which should be taken into account by the ISO when proposing
the locations for WF installation. In this context, efficient wind farm
(WF) placement method is proposed in order to reduce burdens on
congested lines. Since the wind speed is a random variable and load
forecasts also contain uncertainties, probabilistic approaches are used
for this type of study. AC probabilistic optimal power flow (P-OPF)
is formulated and solved using Monte Carlo Simulations (MCS). In
order to reduce computation time, point estimate methods (PEM) are
introduced as efficient alternative for time-demanding MCS.
Subsequently, WF optimal placement is determined using generation
shift distribution factors (GSDF) considering a new parameter
entitled, wind availability factor (WAF). In order to obtain more
realistic results, N-1 contingency analysis is employed to find the
optimal size of WF, by means of line outage distribution factors
(LODF). The IEEE 30-bus test system is used to show and compare
the accuracy of proposed methodology.