In this article, the energy market is a modeled as a Stackelberg game involving three categories of agents: microgrids made of end users sharing the same energy provider, suppliers and generators. The energy production is decentralized involving non-renewables, renewables and demand response performed at the microgrid level. We compute analytically the Nash equilibrium of the game in the genera...

A forward reliability market is presented. The market coordinates new entry through the forward procurement of reliability options—physical capacity bundled with a financial option to supply energy above a strike price. The market assures adequate generating resources and prices capacity from the bids of competitive new entry in an annual auction. Efficient performance incentives are maintained...

The transition to a low-carbon power system brings the challenges of growing the share of generation from (intermittent) renewables while ensuring security of supply. Policymakers and economists increasingly see a market design based on a capacity mechanism as a way to deal with these challenges. Yet this raises new concerns about the potential exercise of market power by large players via the ...

In this paper we study the problem of long-term capacity adequacy in electricity markets. We implement a dynamic model in which firms compete for investment and electricity production under imperfect Cournot competition. The main aim of this work is to compare three investment incentive mechanisms: reliability options, forward capacity market and capacity payments. Apart from the oligopoly case...

background: economical category is an influential area which determines the activity potential in every business. studying the market is one of the effective methods in economical evaluations. recycling market is investigated in order to study and analysis current recycling market and to determine the rate of investment and business attractions in this field in isfahan province. methods: inform...

All decisions about investments in new generation, transmission, distributed energy resources and load management are based on expectations about future market conditions. This paper develops an analytical framework for evaluating forward contracts and investment decisions under the assumption that firms are risk averse. A fixed price/fixed quantity delivery contract forms the basis for the por...

In this paper we present a four-level market model that accounts for airport capacity extension, fleet investment, aircraft scheduling, and ticket trade. In particular, budget-constrained airports decide on the first level on their optimal runway capacity extension and on a corresponding airport charge. Airports anticipate optimal long-term fleet investment of airlines on the second level, opti...

This paper describes a laboratory experiment of electricity markets to study the effect of variable capacity utilization over market dynamics. Previous experiments have left out a potential source of cyclical behavior by assuming full capacity utilization. We run 12 experimental markets of the power generation sector, involving two treatments: a first treatment with fixed (full) capacity utiliz...