Abstract
During these years, the regulatory framework for the wholesale sector of the electricity industry has been replaced by market competition in many countries. There are many ongoing debates over market design issues such as how to avoid market oligopoly problem, how to properly implement a retail electricity market and how to increase profits of market players. This thesis focuses on the development of a model and the simulation of electricity market and studies the impacts of power losses on electricity market equilibrium states in order to find an optimal dispatch schedule of distributed power supplies to power demand in the power delivery networks. To simulate the interaction among strategic behaviors of market players, we generalize a multi-agent system with the supply function equilibrium (SFE) model and take power losses into consideration. We conduct the experiments on IEEE 30-bus systems to illustrate the performance of the proposed method and present some numerical results that are effective in showing various economic impacts of power losses including system benefits and changes in the system marginal price. And we also investigate the influence of market operator variables such as market initial price and price adjust factor on convergence rate in terms of curves of market bidding history.