IMPACT OF MARKET STRUCTURES AND RULES ON THE OPERATION OF POWER SYSTEMS IN A COMPETITIVE MARKET ENVIRONMENT

摘要

Despite the changing structure of the electricity supply industry, priority remains on secure and economic operation of the power system. The operation of the physical power system depends on the behaviour of the market participants, who in turn respond to market signals. The strength of these market signals is a direct measure of the effectiveness of a market structure and its associated rules. The ability of the market agents to exercise market power is dependent upon the market structure and the rules that they operate under. This has an indirect impact on the power generation patterns and the utilisation of power plants. The market derived generation pattern will deliver certain system security, economic and environmental performance. This work investigates the effect of the different market structures and their respective rules on the operation of the power system. The impact of these structures and rules on the long-term investment in power system infrastructure is also looked at.