Keywords: market power monitoring, open access systems, generator market share, GMS, line flow must run share, LFMRS, must run ratio, MRR, must run line flow share, MRLFS, must run load share, MRLS, nodal must run share, NMRS, relative market power, RMP, load variation, price variation, random failures, electricity markets, real–time operations, power grids
Market power monitoring under open access system
In this paper, an engineering procedure is proposed for complete market power monitoring under open access system. Market power monitoring of any given system or network is done by using market power assessment and market power indices. For any given network, market power assessment is to identify which generation company (GENCO) raised their prices when the demand in the concerned area is increased. After identifying the GENCO who raised their prices, market power indices are used to indicate how much market power have been used to raise their prices. In this paper, three market power indices, relative market power (RMP), Lerner index (LI) and Herfindahl–Hirschman index (HHI) are used for identifying the existence of market power. The impact of load variation, price variation and random failures on market power has been investigated by performing three experiments. These experiments were conducted using MATPOWER, which simulates a full AC network with IEEE 30 bus system, six of which are generators.