Electricity market equilibrium based on conjectural variations

Díaz, Cristian A.; Villar, José; Campos, Fco. Alberto; Reneses, Javier

doi:10.1016/j.epsr.2010.07.012

Cited by 67 publications

(38 citation statements)

References 21 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Also, the total profits gathered from the oligopoly and monopoly cases for both periods are very close even though the prices charged for some roads in the monopoly cases are much higher than the oligopoly prices. Theoretically, this possibly points to private road owners' expectation of an aggressive response from other owners to their price change, which results in a solution close to a monopoly (Díaz et al, 2010). The aggressive response could be a concern in practice, but it is outside the scope of the model.…”

Section: Scenariomentioning

confidence: 89%

Integrated modeling framework for leasing urban roads: A case study of Fresno, California

Rouhani

Niemeier

Knittel

et al. 2013

Transportation Research Part B: Methodological

View full text Add to dashboard Cite

Section: Scenariomentioning

confidence: 89%

Integrated modeling framework for leasing urban roads: A case study of Fresno, California

Rouhani

Niemeier

Knittel

et al. 2013

Transportation Research Part B: Methodological

View full text Add to dashboard Cite

“…When all possible generation in a market with certain demand elasticity are all contracted as EOECs, power generation in markets with different mechanisms will be the same. As discussed in Section 3.3, in a market with certain demand elasticity, there is an upper limit of EOECs, expressed by the formula transformation of Equations (26) and (27): …”

Section: Discussionmentioning

confidence: 99%

“…Fujii et al applied a multi-agent model to numerically analyze the price formation process of an open electricity market [23]. More methods for modeling GENCO bidding strategies are reviewed by references [24][25][26][27].…”

Section: Introductionmentioning

confidence: 99%

Market Equilibrium and Impact of Market Mechanism Parameters on the Electricity Price in Yunnan’s Electricity Market

Cheng

Chen

et al. 2016

Energies

View full text Add to dashboard Cite

Abstract:In this paper, a two-dimensional Cournot model is proposed to study generation companies' (GENCO's) strategic quantity-setting behaviors in the newly established Yunnan's electricity market. A hybrid pricing mechanism is introduced to Yunnan's electricity market with the aim to stimulate electricity demand. Market equilibrium is obtained by iteratively solving each GENCO's profit maximization problem and finding their optimal bidding outputs. As the market mechanism is a key element of the electricity market, impacts of different market mechanism parameters on electricity price and power generation in market equilibrium state should be fully assessed. Therefore, based on the proposed model, we precisely explore the impacts on market equilibrium of varying parameters such as the number of GENCOs, the quantity of ex-ante obligatory-use electricity contracts (EOECs) and the elasticity of demand. Numerical analysis results of Yunnan's electricity market show that these parameters have notable but different effects on electricity price. A larger number of GENCOs or less EOEC contracted with GENCOs will have positive effects on reducing the price. With the increase of demand elasticity, the price falls first and then rises. Comparison of different mechanisms and relationship between different parameters are also analyzed. These results should be of practical interest to market participants or market designers in Yunnan's or other similar markets.

show abstract

“…In the very short-term, each agent builds its supply function to maximize its expected margin, usually facing a residual demand curve estimated from recent past data ( [16]). In the long term (several years), supply functions shapes and demand representation are simplified, and it is wellrecognized that Nash equilibriums approaches ( [17]) are very appropriate for market representation.…”

Section: Introductionmentioning

confidence: 99%

Short term constraints for a long term joint energy and reserve equilibrium

Villar

Campos

Díaz

2011

2011 8th International Conference on the European Energy Market (EEM)

View full text Add to dashboard Cite

The increasing penetration of interruptible sources of energy is making security of supply a key aspect of present and future networks management, and reserves markets are gaining significant relevance. Demand representation used in traditional long term market models normally consists in a set of non chronological demand levels corresponding to hours with similar demand values. However, reserve issues are closely related with short term constraints (such as ramps), and this lack of chronological coupling does not allow for an appropriate representation of these technical constraints.This paper presents a joint energy and reserve conjectural equilibrium model that provides signal prices for both commodities and computes productions accordingly by satisfying system demand and reserve requirements. Generation is represented at a technological level, and water contributes to energy and reserve requirements with daily constraints. To reduce the feasible region, clustering is used to simplify hourly demand series into only a few daily patterns. In addition, keeping the link between hours and demand levels allows the model to combine short term technical constraints with traditional long term strategic planning constraints.

show abstract

Electricity market equilibrium based on conjectural variations

Cited by 67 publications

References 21 publications

Integrated modeling framework for leasing urban roads: A case study of Fresno, California

Integrated modeling framework for leasing urban roads: A case study of Fresno, California

Market Equilibrium and Impact of Market Mechanism Parameters on the Electricity Price in Yunnan’s Electricity Market

Short term constraints for a long term joint energy and reserve equilibrium

Contact Info

Product

Resources

About