Synthesizing the market clearing mechanism based on the national power grid using hybrid of deep learning and econometric models: Evidence from the Japan Electric Power Exchange (JEPX) market

Region-wise evaluation of price-based demand response programs in Japan’s wholesale electricity market considering microeconomic equilibrium

“…54 The price is estimated in the first stage of the 2SLS based on the VRE penetration to the demand, while the PED is estimated in the second stage. 55 The first stage is expressed in Equation 1 : Where is the dependent variable of regional wholesale price in a vector of . , d, and denote the regional cross-section panels (i.e., the nationwide wholesale regions depicted in Figure 6 ), timing dummy variables, and hourly intervals, respectively.…”