An efficient power pool simulator for the study of competitive power market

Abstract

With the deregulation of the power industries in many countries, the trend is towards accommodating more freedom and choice to the market participants and encouraging competition as much as possible in the power market. This paper presents the development of a power pool simulation system, which incorporates the features that give more choices and freedom to the market participants and induce greater competition. Important features of the simulation system are discussed. Some issues pertaining to the effects of the bidding data submitted by power suppliers on their benefits, and on the system operation are addressed and analyzed. It is expected that under the competitive market, power suppliers will achieve their cost recovery and optimize their benefits themselves by adjusting their bidding data.