Sanchez, Juan with Julian Barquin, Efraim Centeno and Alvaro Lopez-Pena, "System Dynamics Models for Generation Expansion Planning in a Competitive Framework: Oligopoly and Market Power Representation", 2007 July 29-2007 August 2
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This paper proposes several alternative methods to improve system dynamics models used in the literature for generation expansion planning in liberalised electricity markets. Concretely, these methods provide a better representation of oligopoly structures and market power. These improvements focus on market price and productions calculations, future markets modelling and companies differentiation when deciding new investments. The methods presented in the paper are based on equilibrium approaches and credit risk theory.