An equilibrium model for electricity auctions
نویسندگان
چکیده
منابع مشابه
An equilibrium model for electricity auctions
This work discusses the process of price formation for electrical energy within an auction–like trading environment. Calculating optimal bid strategies of power producers by equilibrium arguments, we obtain the corresponding electricity price and estimate its tail behavior.
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Equilibrium Analysis of Electricity Auctions
This paper considers an electricity spot market consisting of a network, a set of producers located in nodes of the network, and a central agent. Production is organized by means of an auction. Once firms simultaneously bid cost functions, the central agent decides the quantity each firm produces and the flows through the network lines. The purpose of the central agent is to minimize the overal...
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A goal of this paper is to compare results for discriminatory auctions to results for uniform-price auctions when suppliers have capacity constraints. We have a pretty good understanding of what equilibrium results look like for the uniform-price auctions. But an unresolved problem is what happens when a discriminative auction is run and suppliers have capacity constraints. We formulate a suppl...
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Electricity generators in most deregulated markets simultaneously operate in both financial (contract) and physical (spot) markets. Decisions in each of these markets are not mutually exclusive, and in the case of imperfectly competitive scenarios generating companies can use their market power to influence spot and contract prices. A model of oligopolistic market equilibrium is presented where...
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ژورنال
عنوان ژورنال: Applicationes Mathematicae
سال: 2003
ISSN: 1233-7234,1730-6280
DOI: 10.4064/am30-2-7