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Flexible ramping products, which are bid-based products recently proposed in CAISO and MISO markets, are designed to provide transparent economic incentives for flexible resources in case of the increasingly high penetration of renewables. In order to evaluate the impacts of flexible ramping products on the market equilibrium, a multi-period Nash-Cournot equilibrium model is established and the potential-function...
Energy storage systems (ESSs) are of great value to realize energy management and to support large-scale renewable generation. The combined operation of ESSs and renewables is one way to achieve output levelling and to improve the integration of sustainable energy. However, in a market-based environment, ESSs would make strategic decisions on self-schedules and arbitrage in energy and ancillary service...
The generation mix is continuously varying all over the world and the electricity market equilibrium analysis in this new conditions is vital to the market designer, regulator, operator and participants. Therefore, this paper thoroughly investigates the impact of the changing generation mix on the market equilibrium based on the Cournot competition model. In order to improve the computation efficiency,...
Equilibrium analysis of electricity market is of great importance not only for market operator and regulator to investigate the market power and other relevant issues, but also vital for market participants to determine the bidding strategies to maximize their own profits. Among different equilibrium models, Cournot model is widely used due to its explicit economic meaning and relatively high computation...
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