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Most electricity markets have multiple stages, which include one or more forward markets and the spot market. We consider two stages - a day-ahead market and a real-time market. We study equilibrium outcomes in such markets assuming demand to be deterministic. We show via counterexamples that in such two-stage electricity markets, (i) a Nash equilibrium may not exist, or (ii) there may be multiple...
A market comprising a scheduler with a renewable generator and a pumped water storage system, a certain number of flexible and inflexible loads, and a non-renewable generator is considered. At the beginning of activity, the scheduler receives the following three information from each of the loads - consumption (in MW), duration (in hours) and start window. The start window of a load is the time interval...
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