Price stability in the Colombian electricity market

Abstract

Abstract
This paper shows the development and implementation of a model that allows analysis of the Colombian electricity market, using integral-differential equations with information from the Bulk Power Electricity Market data-base. The cost function parameters were obtained for each one of the generator agents, which exercise the most effects on the market. With these cost functions simulations were carried out analyzing the stability of the spot market. The model presented for the market stability analysis considers generator operating constraints, which have not been considered in the revised literature.