Deregulation of Hong Kong electricity supply industry : market modelling and technical study

Pao Yue-kong Library Electronic Theses Database

Deregulation of Hong Kong electricity supply industry : market modelling and technical study

 

Author: So, Wing-ping
Title: Deregulation of Hong Kong electricity supply industry : market modelling and technical study
Degree: Eng.D.
Year: 2005
Subject: Hong Kong Polytechnic University -- Dissertations
Electric industries -- China -- Hong Kong
Department: Dept. of Electrical Engineering
Pages: xix, 453 p. : ill. ; 30 cm.
Language: English
InnoPac Record: http://library.polyu.edu.hk/record=b1957996
URI: http://theses.lib.polyu.edu.hk/handle/200/5524
Abstract: The electric power industry in the most of the world is in a period of radical and rapid restructuring. The ultimate goal of this restructuring is to lower prices, achieved through the development of competitive markets for electricity. The regulated monopoly structure is rapidly being replaced by a paradigm of "open access" by all to the transmission grid to form a large interconnected system. In between two limiting unrealistic cases - pure monopoly and perfect competition lies the real world that oligopolistic competition model commonly exists. The world of competition between a limited number of competitors make each think they have no control over prices. In such imperfectly competitive markets, each must consider its competitors' reactions to output and price decisions - the so-called "gaming" system. In this thesis, the liberalisation of the electricity market by a game theoretic modelling tool is studied with consideration of the transportation formulation. The game theoretic Nash-Cournot modelling framework is employed and applied to include the effect of transmission constraint. This thesis analyses and compares different but generic scenarios of a realistic electricity market against perfect and oligopolistic market case. The computation experiment results demonstrate the system changed with the interaction of cross border energy trading, generation and load demand pattern correspond to the Nash-Cournot and perfect competition models, with and without power wheeling and transmission congestion. This complexity is the main reason that technical challenges arise: the complexity of electricity transfer and generation.
From a technical point of view, it is strongly believed that deregulation will have profound and important technical implications on the electric power industry operation and planning. Therefore, industrial sectors need to re-evaluate potential impacts and strategies of operation under a deregulated environment. Given those uncertain conditions of deregulated energy markets, traditional planning tools cannot be used to plan the generation and transmission expansion. This thesis shows a new approach, developed by taking the most realistic, well-proven methodologies found in the classical economical theory as a starting point, conducting the technical studies within the practical constraints to avoid the penalties for making wrong investment decision and loss of system security. In a deregulated power system, the engineering aspects of planning and operation have to be reformulated although essential ideas remain the same. This thesis discusses the major issues relating to power delivery planning and describes a planning process within the framework of market simulations in the deregulated environment. In particular, the following topics are examined: (a) Due to the change of load demands after deregulation, a method is developed to forecast the supply-demand aspect for determining the future feasible generation based on market simulation and present network constraints. (b) To study transmission utilization and make investment decision according to the uncertainty in power flow due to physical power trading in the marketplace, facilitating market to market power trading and avoiding bad investment on underutilized transmission projects. (c) Technical study based on market simulations to examine the system performance in a liberalized market.

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