Abstract
In this paper, the variations in hydropower generation are addressed considering the seasonality and ENSO (El Niño-Southern Oscillation) episodes. The dynamic hypothesis and the stock-flow structure of the Colombian electricity market were analyzed. Moreover, its dynamic behavior was analyzed by using Dynamic Systems tools aimed at providing deep insight into the system. The MATLAB/Simulink model was used to evaluate the Colombian electricity market. Since we combine System Dynamics and Dynamic Systems, this methodology provides a novel insight and a deeper analysis compared with System Dynamics models and can be easily implemented by policymakers to suggest improvements in regulation or market structures. We also provide a detailed description of the Colombian electricity market dynamics under a broad range of demand growth rate scenarios inspired by the bifurcation and control theory of Dynamic Systems.
| Original language | English |
|---|---|
| Article number | 2381 |
| Journal | Energies |
| Volume | 13 |
| Issue number | 9 |
| DOIs | |
| Publication status | Published - May 2020 |
Bibliographical note
Publisher Copyright:© 2020 by the authors. Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (http://creativecommons.org/licenses/by/4.0/).
All Science Journal Classification (ASJC) codes
- Renewable Energy, Sustainability and the Environment
- Energy Engineering and Power Technology
- Energy (miscellaneous)
- Control and Optimization
- Electrical and Electronic Engineering
