Title :
A bargaining model of regulated markets´ integration with an application to electricity supply market
Author :
Jing-Yuan, Wei ; Smeers, Yves ; Canon, Emmanuel
Author_Institution :
CORE, Univ. Catholique de Louvain, Belgium
Abstract :
An integrated market organized by regulated electric utilities is modelled. It is assumed that, given a price vector for the exchange of electricity between each pair of neighboring utilities, utilities independently maximize their own domestic social welfare subject to the zero profit constraint. An equilibrium price vector for exchanges among utilities is defined as the one which clears the exchanges for all pair of business partners. A single piecewise linear model is formulated for computing market equilibria. The model is used to simulate the electricity supply market organised by 11 western European countries
Keywords :
costing; economics; electricity supply industry; piecewise-linear techniques; bargaining model; domestic social welfare; electricity exchange; electricity supply market; equilibrium price vector; market equilibria; piecewise linear model; price vector; regulated electric utilities; regulated markets´ integration; western European countries; zero profit constraint; Aggregates; Cities and towns; Computational modeling; Costs; Marketing and sales; Piecewise linear techniques; Power grids; Power industry; Pricing; Vectors;
Conference_Titel :
Energy Management and Power Delivery, 1995. Proceedings of EMPD '95., 1995 International Conference on
Print_ISBN :
0-7803-2981-3
DOI :
10.1109/EMPD.1995.500780
