TY - GEN
T1 - A market simulation model for long-term power system planning studies
AU - Fonseka, P. A.J.
AU - Dong, Z. Y.
AU - Saha, T. K.
N1 - Publication details (e.g. title, author(s), publication statuses and dates) are captured on an “AS IS” and “AS AVAILABLE” basis at the time of record harvesting from the data source. Suggestions for further amendments or supplementary information can be sent to [email protected].
PY - 2008
Y1 - 2008
N2 - A simulation model is developed to simulate the yearlong performance of an energy-only electricity market for long-term planning applications. The main simulation domain has been transformed from sequential time to probabilistic time (or time duration) keeping all the other pertinent details of an electricity market in tact. The details such as attributes of load, generating units/companies, transmission network are modelled using probabilistic techniques. The reduction of total yearlong simulation time, without loosing the accuracy of the significant long-term output quantities, is expected as the main advantage. An illustrative case study is given in the paper, modelling the National Electricity Market (NEM) of Australia using the proposed model. © 2008 IEEE.
AB - A simulation model is developed to simulate the yearlong performance of an energy-only electricity market for long-term planning applications. The main simulation domain has been transformed from sequential time to probabilistic time (or time duration) keeping all the other pertinent details of an electricity market in tact. The details such as attributes of load, generating units/companies, transmission network are modelled using probabilistic techniques. The reduction of total yearlong simulation time, without loosing the accuracy of the significant long-term output quantities, is expected as the main advantage. An illustrative case study is given in the paper, modelling the National Electricity Market (NEM) of Australia using the proposed model. © 2008 IEEE.
KW - Electricity markets
KW - Monte-Carlo methods
KW - Power system planning
KW - Probabilistic simulation
UR - https://www.scopus.com/pages/publications/52349109377
UR - https://www.scopus.com/record/pubmetrics.uri?eid=2-s2.0-52349109377&origin=recordpage
U2 - 10.1109/PES.2008.4596613
DO - 10.1109/PES.2008.4596613
M3 - RGC 32 - Refereed conference paper (with host publication)
SN - 9781424419067
T3 - IEEE Power and Energy Society 2008 General Meeting: Conversion and Delivery of Electrical Energy in the 21st Century, PES
BT - IEEE Power and Energy Society 2008 General Meeting: Conversion and Delivery of Electrical Energy in the 21st Century, PES
T2 - IEEE Power and Energy Society 2008 General Meeting: Conversion and Delivery of Electrical Energy in the 21st Century, PES
Y2 - 20 July 2008 through 24 July 2008
ER -