Modeling of short-term financial transmission rights in a secondary auction market using game theory
Purpose: Finding the best situation for the expected profit by each of the participants (players) in the secondary auction market of financial congestion transmission rights.Methodology: From the point of view of game theory, finding at least one Nash equilibrium point for this competition takes int...
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| Format: | Article |
| Language: | fas |
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Ayandegan Institute of Higher Education, Tonekabon,
2023-09-01
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| Series: | تصمیم گیری و تحقیق در عملیات |
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| Online Access: | https://www.journal-dmor.ir/article_143737_294c6607d5a3a5bc5df7ab8babb67447.pdf |
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| _version_ | 1832577811132448768 |
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| author | Mohammad Tabrizian Hosein Seifi Mohamad Kazem Sheikh-al-Eslami Hamidreza Shahmirzad |
| author_facet | Mohammad Tabrizian Hosein Seifi Mohamad Kazem Sheikh-al-Eslami Hamidreza Shahmirzad |
| author_sort | Mohammad Tabrizian |
| collection | DOAJ |
| description | Purpose: Finding the best situation for the expected profit by each of the participants (players) in the secondary auction market of financial congestion transmission rights.Methodology: From the point of view of game theory, finding at least one Nash equilibrium point for this competition takes into account the various constraints of the secondary auction market.Findings: This paper study the issue of financial transmission congestion contracts then uses the game theory to analyze the short-term (weekly) secondary FTR markets, in which the players manage the transmission risk through optimal biddings.Originality/Value: Congestion risk management is one of the most important topics of transmission network management in restructured power systems and electricity markets in the world, especially markets based on regional or local pricing, whose main tool is transmission financial contracts. In the other scientific articles published so far, mainly the modeling and analysis of the primary auction markets of transission congestion financial rights have been discussed, and the secondary auction markets of these contracts, which have a different pattern, have not been scientifically analyzed. The main innovation of this article is to pay attention to this issue using application of game theory. |
| format | Article |
| id | doaj-art-5698dfc113b14fb9ad5a7ffc24a05b50 |
| institution | Kabale University |
| issn | 2538-5097 2676-6159 |
| language | fas |
| publishDate | 2023-09-01 |
| publisher | Ayandegan Institute of Higher Education, Tonekabon, |
| record_format | Article |
| series | تصمیم گیری و تحقیق در عملیات |
| spelling | doaj-art-5698dfc113b14fb9ad5a7ffc24a05b502025-01-30T15:03:21ZfasAyandegan Institute of Higher Education, Tonekabon,تصمیم گیری و تحقیق در عملیات2538-50972676-61592023-09-018244646210.22105/dmor.2022.305248.1486143737Modeling of short-term financial transmission rights in a secondary auction market using game theoryMohammad Tabrizian0Hosein Seifi1Mohamad Kazem Sheikh-al-Eslami2Hamidreza Shahmirzad3Department of Electrical and Computer Engineering, Yadegar-e-Imam Khomeini (RAH) Shahre Rey Branch, Islamic Azad University, Tehran, Iran.Department of Power Electrical Engineering, Faculty of Electrical and Computer Engineering, Tarbiat Modares University, Tehran, Iran.Department of Power Electrical Engineering, Faculty of Electrical and Computer Engineering, Tarbiat Modares University, Tehran, Iran.Department of Electrical and Computer Engineering, Yadegar-e-Imam Khomeini (RAH) Shahre Rey Branch, Islamic Azad University, Tehran, Iran.Purpose: Finding the best situation for the expected profit by each of the participants (players) in the secondary auction market of financial congestion transmission rights.Methodology: From the point of view of game theory, finding at least one Nash equilibrium point for this competition takes into account the various constraints of the secondary auction market.Findings: This paper study the issue of financial transmission congestion contracts then uses the game theory to analyze the short-term (weekly) secondary FTR markets, in which the players manage the transmission risk through optimal biddings.Originality/Value: Congestion risk management is one of the most important topics of transmission network management in restructured power systems and electricity markets in the world, especially markets based on regional or local pricing, whose main tool is transmission financial contracts. In the other scientific articles published so far, mainly the modeling and analysis of the primary auction markets of transission congestion financial rights have been discussed, and the secondary auction markets of these contracts, which have a different pattern, have not been scientifically analyzed. The main innovation of this article is to pay attention to this issue using application of game theory.https://www.journal-dmor.ir/article_143737_294c6607d5a3a5bc5df7ab8babb67447.pdfrestructured power systemelectrical energy transmissionelectricity marketcongestion risk managementfinancial transmission rightsgame theory |
| spellingShingle | Mohammad Tabrizian Hosein Seifi Mohamad Kazem Sheikh-al-Eslami Hamidreza Shahmirzad Modeling of short-term financial transmission rights in a secondary auction market using game theory تصمیم گیری و تحقیق در عملیات restructured power system electrical energy transmission electricity market congestion risk management financial transmission rights game theory |
| title | Modeling of short-term financial transmission rights in a secondary auction market using game theory |
| title_full | Modeling of short-term financial transmission rights in a secondary auction market using game theory |
| title_fullStr | Modeling of short-term financial transmission rights in a secondary auction market using game theory |
| title_full_unstemmed | Modeling of short-term financial transmission rights in a secondary auction market using game theory |
| title_short | Modeling of short-term financial transmission rights in a secondary auction market using game theory |
| title_sort | modeling of short term financial transmission rights in a secondary auction market using game theory |
| topic | restructured power system electrical energy transmission electricity market congestion risk management financial transmission rights game theory |
| url | https://www.journal-dmor.ir/article_143737_294c6607d5a3a5bc5df7ab8babb67447.pdf |
| work_keys_str_mv | AT mohammadtabrizian modelingofshorttermfinancialtransmissionrightsinasecondaryauctionmarketusinggametheory AT hoseinseifi modelingofshorttermfinancialtransmissionrightsinasecondaryauctionmarketusinggametheory AT mohamadkazemsheikhaleslami modelingofshorttermfinancialtransmissionrightsinasecondaryauctionmarketusinggametheory AT hamidrezashahmirzad modelingofshorttermfinancialtransmissionrightsinasecondaryauctionmarketusinggametheory |