An electricity market is very complex and different in its nature, when compared to other commodity markets. The introduction of competition and restructuring in global electricity markets brought more complexity and major changes in terms of governance, ownership and technical and market operations. In a liberalized electricity market, all market participants are responsible for their own decisions; therefore, all the participants are trying to make profit by participating in electricity trading. There are different types of electricity market, and in this research a bilateral electricity market has been specifically considered. This thesis not only contributes with regard to the reviewing UK electricity market as an example of a bilateral electricity market with more than 97% of long-term bilateral trading, but also proposes a dual aspect point of view with regard to the bilateral electricity market by splitting the generation and supply sides of the wholesale market. This research aims at maximizing the market participants’ profits and finds the equilibrium point of the bilateral market; hence, various methods such as equilibrium models have been reviewed with regard to management of the risks (e.g. technical and financial risks) of participating in the electricity market. This research proposes a novel Conjectural Variation Equilibrium (CVE) model for bilateral electricity markets, to reduce the market participants’ exposure to risks and maximize the profits. Hence, generation companies’ behaviors and strategies in an imperfect bilateral market environment, oligopoly, have been investigated by applying the CVE method. By looking at the bilateral market from an alternative aspect, the supply companies’ behaviors in an oligopsony environment have also been taken into consideration. At the final stage of this research, the ‘matching’ of both quantity and price between oligopolistic and oligopsonistic markets has been obtained through a novel-coordinating algorithm that includes CVE model iterations of both markets. Such matching can be achieved by adopting a hierarchical optimization approach, using the Matlab Patternsearch optimization algorithm, which acts as a virtual broker to find the equilibrium point of both markets. Index Terms-- Bilateral electricity market, Oligopolistic market, Oligopsonistic market, Conjectural Variation Equilibrium method, Patternsearch optimization, Game theory, Hierarchical optimization method

Transfemoralor above-the-knee amputees face discomfort in their prothesis primarily due to irregular distribution of pressure and shear forces in the Socket-stump interface (SSI). To quantify this discomfort it is necessary to first determine the pressure distribution in the SSI using sensors. However, knowledge of how sensors should be deployed is necessary to support the testing of said pressure on a test-rig or amputee. Previous methods used to determine sensor placement include discretization of the SSI into several regions or the use of a reiterative method based on pressure readings from sensors to determine the optimal placement of sensors. The former fails to identify high regions of pressure as the regions covered by the sensors may not have high pressure whereas the latter is time consuming and may cause further trauma to amputees as it requires repeated experimentation. With the advances in pressure sensor technologies, biomechanical simulations, and Finite elementanalysis(FEA)simulations it is now increasingly possible to determine an accurate estimate of dynamic pressure distribution occurring in the SSI during the gait cycle. The thesis investigates the dynamic pressure distribution in the SSI and determines an effective method of locating the optimal positions for the sensors using two different algorithms. The first is a Genetic Algorithm whereas the second is Pattern Search. / Transfemorala eller amputerade över knäet möter obehag i sin protes främst på grund av oregelbunden fördelning av tryck och skjuvkrafter i SSI. För att kvantifiera detta obehag är det nödvändigt att först bestämma tryckfördelningen i SSI med hjälp av sensorer. Men kunskap om hur sensorer ska distribueras är nödvändig för att stödja testningen av nämnda tryck på en testrigg eller amputerad. Tidigare metoder som använts för att bestämma sensorplacering inkluderar diskretisering av SSI i flera regioner eller användning av en upprepad metod baserad på tryckavläsningar från sensorer för att bestämma den optimala placeringen av sensorer. Den förstnämnda misslyckas med att identifiera höga tryckregioner eftersom den områden som täcks av sensorerna kanske inte har högt tryck medan de senare är tidskrävande och kan orsaka ytterligare trauma för amputerade eftersom det kräver upprepade experiment. Med framstegen inom trycksensorteknologier, biomekaniska simuleringar och FEA-simuleringar är det nu alltmer möjligt att bestämma en exakt uppskattning av dynamisk tryckfördelning i SSI under gångcykeln. Avhandlingen undersöker den dynamiska tryckfördelningen i SSI och bestämmer en effektiv metod för att lokalisera de optimala positionerna för sensorerna med hjälp av två olika algoritmer. Den första är en genetisk algoritm medan den andra är mönstresökning