Energy storage operation and electricity market design: On the market power of monopolistic storage operators

Bjørndal, Endre; Bjørndal, Mette; Coniglio, Stefano; Körner, Marc-Fabian; Leinauer, Christina; Weibelzahl, Martin

doi:10.1016/j.ejor.2022.09.012

European Journal of Operational Research

2023

DOI: 10.1016/j.ejor.2022.09.012

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Energy storage operation and electricity market design: On the market power of monopolistic storage operators

Endre Bjørndal

Mette Bjørndal

Stefano Coniglio

et al.

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2024

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Cited by 20 publications

References 73 publications

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Optimal investment by large consumers in an electricity market with generator market power

Verma,

Hesamzadeh,

Rebennack

et al. 2024

Comput Manag Sci

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The investment decisions of energy-intensive consumers can alter the balance of supply and demand in an electricity market. In particular, they can increase the market power of incumbent generators such that prices may increase as a consequence of their investments. Whilst it is therefore intuitive that such investors will wish to consider their effects on the market, it is a challenging problem analytically and one that has been under-researched. In general, the problem can be manifest in any supply chain where demand-side investments influence endogenous price formation in the intermediate product markets. Theoretically, we show how the presence of producer market power decreases demand-side investments and then, computationally we formulate a quad-level program to model the operational implications for a demand-side investor in more detail. With an innovative reduction in complexity to a bilevel model, an efficient solution algorithm for the optimal investment by a demand-side investor is facilitated. We demonstrate computability on a small scale electricity system and the results confirm the theory.

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Optimal investment by large consumers in an electricity market with generator market power

Verma,

Hesamzadeh,

Rebennack

et al. 2024

Comput Manag Sci

View full text Add to dashboard Cite

show abstract

Designing risk-free service for renewable wind and solar resources

Gupta,

Palepu

2024

European Journal of Operational Research

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Frequency regulation with storage: On losses and profits

Lauinger,

Vuille,

Kuhn

2024

European Journal of Operational Research

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Energy storage operation and electricity market design: On the market power of monopolistic storage operators

Cited by 20 publications

References 73 publications

Optimal investment by large consumers in an electricity market with generator market power

Optimal investment by large consumers in an electricity market with generator market power

Designing risk-free service for renewable wind and solar resources

Frequency regulation with storage: On losses and profits

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