DocumentCode
972964
Title
Electricity market equilibrium models: the effect of parametrization
Author
Baldick, Ross
Author_Institution
Dept. of Electr. & Comput. Eng., Texas Univ., Austin, TX, USA
Volume
17
Issue
4
fYear
2002
fDate
11/1/2002 12:00:00 AM
Firstpage
1170
Lastpage
1176
Abstract
In this paper, the authors use an example from the literature to compare Cournot and supply function equilibrium models of bid-based electricity markets with and without transmission constraints. They demonstrate that the parametrization of the supply function model has a significant effect on the calculated results. In particular, several results reported in the literature are artifacts of assumptions in the parametrization of the model.
Keywords
power markets; power system economics; tariffs; Cournot models; bid-based electricity markets; electricity market equilibrium models; parametrization effect; supply function equilibrium models; supply function model; transmission constraints; Australia; Economic forecasting; Electricity supply industry; Environmental economics; Power generation economics; Power markets; Power supplies; Power system modeling; Predictive models; Pricing;
fLanguage
English
Journal_Title
Power Systems, IEEE Transactions on
Publisher
ieee
ISSN
0885-8950
Type
jour
DOI
10.1109/TPWRS.2002.804956
Filename
1137609
Link To Document