A game of clustered electricity generators

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Date

2009

Author

Günaydın, Alper

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Turkish Electricity Market is modeled as a non-cooperative game with complete information in order to simulate the behavior of market participants and analyze their possible strategies. Player strategies are represented with multipliers in a discrete strategy set. Different market scenarios are tested through different game settings. As the novelty of this thesis, similar market participants are clustered and treated as single players in order to apply game theory in an efficient way. Generators are clustered using Agglomerative Hierarchical Clustering and Square Sum of Deviations is used as the proximity measure. The game is constructed with three players that reflect the main characteristics of the market participants. Clusters and game scenarios are constructed using the real market data of the Turkish Electricity Market at four different time points in 2008 and results are compared. Clustering results reflect the actual installed capacity distribution based on the main companies and fuel types in Turkish Electricity Market. According to four games of clustered electricity generators, when there is not enough competition in the market, dominant player is advised to submit bids with lower price for energy surplus cases and offers with higher price for energy deficit cases. However, when there is competition in the market, players are advised to submit offers with lower price in order to take a share of the limited demand for up-regulation.

Subject Keywords

Industrial engineering.

URI

http://etd.lib.metu.edu.tr/upload/12610623/index.pdf
https://hdl.handle.net/11511/18652

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Graduate School of Natural and Applied Sciences, Thesis

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Citation Formats

A. Günaydın, “A game of clustered electricity generators,” M.S. - Master of Science, Middle East Technical University, 2009.