Abstract
This paper discusses the stability properties of electricity markets and their implications for the deregulated market environment. We formulate a Takagi–Sugeno–Kang (TSK) fuzzy model for electricity markets to account for their uncertainty and nonlinearity and obtain realistic stability results. The paper provides sufficient conditions for the stability and instability of electricity markets. All the proposed stability and instability conditions can be tested using linear matrix inequalities. Simulation results demonstrate the application of the stability and instability tests to electric power market under different market conditions. The tests also demonstrate the importance of the including nonlinearities and uncertainty in the electricity market when investigating its stability.
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