AN ELECTRICITY MARKET ANALYSIS METHOD BASED ON PROBABILISTIC PRODUCTION COSTING TECHNIQUE

摘要

This paper presents an efficient algorithm for evaluating the profit and revenue of generating units in a competitive electricity market based on the probabilistic production costing technique. The accurate evaluation of the profit and revenue of generating units for long-term perspectives is one of the most important issues in a competitive electricity market analysis. For efficient calculation of the profit and revenue of generating units under the equivalent load duration curve (ELDC), a new approach to figure out the marginal plants and the corresponding market clearing prices during a time period in a probabilistic manner is developed. The mathematical formulation and illustrative application of the suggested method is presented.