DocumentCode :
2549777
Title :
Computing Cournot equilibria in two settlement electricity markets with transmission constraint
Author :
Yao, Jian ; Oren, Shmuel S. ; Adler, Ilan
Author_Institution :
Dept. of Ind. Eng. & Operations Res., California Univ., Berkeley, CA, USA
fYear :
2004
fDate :
5-8 Jan. 2004
Abstract :
We formulate a two-settlement equilibrium in competitive electricity markets as a subgame-perfect Nash equilibrium in which each generation firm solves a Mathematical Program with Equilibrium Constraints (MPEC), given other firms´ forward and spot strategies. We implement two computational approaches, one of which is based on a penalty interior point algorithm and the other is based on a steepest descent approach. We apply the algorithm to a six node illustrative example.
Keywords :
game theory; power markets; power transmission economics; Cournot equilibria computing; mathematical program with equilibrium constraints; penalty interior point algorithm; settlement electricity markets; steepest descent approach; subgame-perfect Nash equilibrium; transmission constraint; Cost function; Electricity supply industry; Etching; Forward contracts; Industrial engineering; Monopoly; Nash equilibrium; Operations research; Power generation; Power markets;
fLanguage :
English
Publisher :
ieee
Conference_Titel :
System Sciences, 2004. Proceedings of the 37th Annual Hawaii International Conference on
Print_ISBN :
0-7695-2056-1
Type :
conf
DOI :
10.1109/HICSS.2004.1265176
Filename :
1265176
Link To Document :
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