Selection of energy source and evolutionary stable strategies for power plants under financial intervention of government

Selection of energy source and evolutionary stable strategies for power plants under financial... Currently, many socially responsible governments adopt economic incentives and deterrents to manage environmental impacts of electricity suppliers. Considering the Stackelberg leadership of the government, the government’s role in the competition of power plants in an electricity market is investigated. A one-population evolutionary game model of power plants is developed to study how their production strategy depends on tariffs levied by the government. We establish that a unique evolutionary stable strategy (ESS) for the population exists. Numerical examples demonstrate that revenue maximization and environment protection policies of the government significantly affect the production ESS of competitive power plants. The results reveal that the government can introduce a green energy source as an ESS of the competitive power plants by imposing appropriate tariffs. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Industrial Engineering International Springer Journals

Selection of energy source and evolutionary stable strategies for power plants under financial intervention of government

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Publisher
Springer Berlin Heidelberg
Copyright
Copyright © 2017 by The Author(s)
Subject
Engineering; Industrial and Production Engineering; Quality Control, Reliability, Safety and Risk; Facility Management; Engineering Economics, Organization, Logistics, Marketing; Appl.Mathematics/Computational Methods of Engineering
ISSN
1735-5702
eISSN
2251-712X
D.O.I.
10.1007/s40092-017-0190-1
Publisher site
See Article on Publisher Site

Abstract

Currently, many socially responsible governments adopt economic incentives and deterrents to manage environmental impacts of electricity suppliers. Considering the Stackelberg leadership of the government, the government’s role in the competition of power plants in an electricity market is investigated. A one-population evolutionary game model of power plants is developed to study how their production strategy depends on tariffs levied by the government. We establish that a unique evolutionary stable strategy (ESS) for the population exists. Numerical examples demonstrate that revenue maximization and environment protection policies of the government significantly affect the production ESS of competitive power plants. The results reveal that the government can introduce a green energy source as an ESS of the competitive power plants by imposing appropriate tariffs.

Journal

Journal of Industrial Engineering InternationalSpringer Journals

Published: Mar 4, 2017

References

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