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Oligopolistic static equilibrium models are widely used in electricity market analysis. However, the repeated bidding process in real-life electricity markets calls for dynamic models. This paper formulates the classical Cournot model in a discrete-time linear system framework that permits close study of generation companiespsila dynamic decisions and their impacts on wholesale electricity markets...
This paper solves the spot electricity market problem sequentially in time. By decomposing the problem in time, each time-step is solved independently using an oligopolistic market model. The time dimension is divided into discrete time- steps of one hour each. The time-steps are solved sequentially and are coordinated by the supervision of the maximum/minimum on/off time constraints. Since GENCOs...
This paper studies Generation Companies (GENCOs) production decisions in ologopolistic electricity market. The model presented is based upon static equilibrium model solved sequentially. The main idea is to imagine the firms to be in a discrete time situation. The effect of technical constraints, such as time on/off, ramp up/down, startup cost and shut down cost, are not included in the model.
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