Research on Dynamics of Cournot Game of Power Market Based on Nonlinear Complementarity Method

Abstract

It is important for market operators and market participants to analyze and master the dynamic behaviors of power market. In existed dynamic models, some assumptions out of accord with actual power market are made. In addition, the dynamic behaviors are not analyzed when power market is out of the stability region. Therefore, in order to more accurately model the behaviors of market, the dynamic model of Cournot game considering transmission constrains is proposed in this paper, which is represented by the discrete differential equations satisfying the first-order conditions for maximization of social benefit of market while clearing the market. Then, by means of the nonlinear complementarity method, the complementarity conditions of the market clearing optimization are transformed into a set of algebraic equations, and further the market equilibrium is calculated and the dynamic behaviors of market are investigated in different market parameters, in which the stability of market equilibrium is qualitatively analyzed and the periodic and chaotic behaviors are focused when the market parameters are out of the stability region of market equilibrium