Go top
Conference paper information

Fitting electricity market models. A conjectural variations approach .

A. García, M. Ventosa, M. Rivier, A. Ramos, G. Relaño

The worldwide electricity industry has been embedded in a significant restructuring process toward deregulation and competition during the last decade. Simultaneously, an important research effort has been made to properly incorporate market features within generation operations models. Cournot equilibrium has been one of the theoretical frameworks most widely used to model market behavior. However, it presents relevant weakness related to its high sensitivity to the demand elasticity. This paper proposes the use of firms’ conjectural variations to overcome this difficulty and shows a procedure to determine them. The method, designed for long-term operation models, infers the implicit values associated to the firms’ residual demand employing only public market information.

Keywords: Competitive electricity market, generation scheduling, equilibrium models, complementary problem

14th Power systems computation conference -PSCC, Session 12-3, pp. 1-8, Seville, June, 2002.

Published: June 2002.

    Research topics:
  • *Medium-term tactical planning
  • *Long-term strategic analysis


Request Request the author to send the document

Aviso legal  |  Política de cookies |  Poítica de Privacidad

© Universidad Pontificia Comillas, Escuela Técnica Superior de Ingeniería - ICAI, Instituto de Investigación Tecnológica

Calle de Santa Cruz de Marcenado, 26 - 28015 Madrid, España - Tel: (+34) 91 5422 800