PROCESS OF DETERMINING MARKET EQUILIBRIUM PRICE OF ELECTRICITY: SYSTEM DYNAMICS APPROACH

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MOLAEI MOHAMMAD ALI; MANZOUR DAVOUD; REZAEE HOSSEIN

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Journal: Journal of Quantitative Economics Year:2012 | Volume:9 | Issue:2 (33) Page(s): 71-86

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Title

PROCESS OF DETERMINING MARKET EQUILIBRIUM PRICE OF ELECTRICITY: SYSTEM DYNAMICS APPROACH

Author(s)

MOLAEI MOHAMMAD ALI | MANZOUR DAVOUD | REZAEE HOSSEIN | Issue Writer Certificate

Keywords

ELECTRICITY MARKETQ2

EQUILIBRIUM MARKETQ2

SYSTEM DYNAMICSQ2

REFERENCE PRICEQ2

OPTIMIZATIONQ2

Abstract

In this paper, electricy price was predetermined after a disequilibrium shock using hill climbing OPTIMIZATION method. For this purpose, initially we modeled the power market using SYSTEM DYNAMICS approach, then optimal quantity supplied, optimal quantity demanded and equilibrium price are determined applying optimal linear programming model. The SYSTEM DYNAMICS model was run for one day and one month (August) in 2010 with VENSIM simulation software. To this end, we assumed market equilibrium and fixed capacity of domestic plants as well as a five percent rise in demand. The results showed that only in one-month period with the possibility of raising import, the market will clear.If so, the equilibrium price will be 299.92 rial/kwh and supply and demand will clear at 16462.7 kwh.

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APA: Copy

MOLAEI, MOHAMMAD ALI, MANZOUR, DAVOUD, & REZAEE, HOSSEIN. (2012). PROCESS OF DETERMINING MARKET EQUILIBRIUM PRICE OF ELECTRICITY: SYSTEM DYNAMICS APPROACH. JOURNAL OF QUANTITATIVE ECONOMICS (QUARTERLY JOURNAL OF ECONOMICS REVIEW), 9(2 (33)), 71-86. SID. https://sid.ir/paper/110851/en

Vancouver: Copy

MOLAEI MOHAMMAD ALI, MANZOUR DAVOUD, REZAEE HOSSEIN. PROCESS OF DETERMINING MARKET EQUILIBRIUM PRICE OF ELECTRICITY: SYSTEM DYNAMICS APPROACH. JOURNAL OF QUANTITATIVE ECONOMICS (QUARTERLY JOURNAL OF ECONOMICS REVIEW)[Internet]. 2012;9(2 (33)):71-86. Available from: https://sid.ir/paper/110851/en

IEEE: Copy

MOHAMMAD ALI MOLAEI, DAVOUD MANZOUR, and HOSSEIN REZAEE, “PROCESS OF DETERMINING MARKET EQUILIBRIUM PRICE OF ELECTRICITY: SYSTEM DYNAMICS APPROACH,” JOURNAL OF QUANTITATIVE ECONOMICS (QUARTERLY JOURNAL OF ECONOMICS REVIEW), vol. 9, no. 2 (33), pp. 71–86, 2012, [Online]. Available: https://sid.ir/paper/110851/en

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