A New Solution Approach for Supply Function Equilibrium-based Bidding Strategy in Electricity Markets
نویسندگان
چکیده
منابع مشابه
Investment in Electricity Markets: Equilibrium Price and Supply Function
In most real options models for evaluating power plants, it is assumed that the price fluctuates stochastically such as a geometric Brownian motion. In actual electricity market, the prices are determined by supply and demand, and the supply and demand balance may cause the price spike. Especially, the supply characteristics, which depend on the type and number of power plants in electricity ma...
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We consider a model where a finite number of producers compete to meet an infinitely divisible but inelastic demand for a product. Each firm is characterized by a production cost that is convex in the output produced, and firms act as profit maximizers. We consider a uniform price market design that uses supply function bidding (Klemperer and Meyer 1989): firms declare the amount they would sup...
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We consider a model where a finite number of producers compete to meet an infinitely divisible but inelastic demand for a product. Each firm is characterized by a production cost that is convex in the output produced, and firms act as profit maximizers. We consider a uniform price market design that uses supply function bidding: firms declare the amount they would supply at any positive price, ...
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ژورنال
عنوان ژورنال: Scientia Iranica
سال: 2017
ISSN: 2345-3605
DOI: 10.24200/sci.2017.4360