Abstract
It is well known that power system operations are often constrained by transmission congestions which reflect the physical restrictions intrinsic to the power system itself. The power market running on top of the system is also constrained by factors such as primary energy, emissions, technical support, as well as multi-player gaming among market participants including regulators. In this paper, we propose a new concept of generalized congestions to describe those factors affecting both the competition level and the efficiency of power markets. Market power is a market participant's capability in influencing market efficiency with the aid of generalized congestions; generalized market power reflects its capability to influence the social welfare. This paper analyzes generalized congestions, market power and generalized market power in many aspects including taxonomy, evaluation indexes, control measures. and the corresponding research methods. Based on the experimental economics method, a research framework is proposed to facilitate comprehensive studies on the influences of generalized congestions on market power.
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