Evaluation of Regulatory Impacts on Dynamic Behavior of Investments in Electricity Markets: A New Hybrid DP/GAME Framework

@article{Barforoushi2010EvaluationOR,
  title={Evaluation of Regulatory Impacts on Dynamic Behavior of Investments in Electricity Markets: A New Hybrid DP/GAME Framework},
  author={Taghi Barforoushi and Mohsen Parsa Moghaddam and Mohammad Hossein Javidi and Mohammad Kazem Sheikh-El-Eslami},
  journal={IEEE Transactions on Power Systems},
  year={2010},
  volume={25},
  pages={1978-1986}
}
A new hybrid framework based on game theory and dynamic programming (DP) with random demands and prices is proposed for studying the impacts of regulatory interventions on the dynamics of investment in power generation in electricity markets. In our approach, using Markov chains, the electric demand and growth of fuel prices have been modeled. DP has been used for solving the generation expansion planning (GEP) problem. Investment strategies of other investors in the market are modeled as… CONTINUE READING

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