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This paper presents a perfect competition model of an electricity market that takes into account the starting-up, shutting-down and commitment variables. These variable are modeled through binary variables. The use of binary decision variables makes the cost functions discontinuous and dual variables questionable as equilibrium prices. If the market prices were set to the value of the dual variables,...
Security of supply is widely addressed in the academia. In this paper we conduct a review of methodologies, discuss strengths and weaknesses and identify areas that would benefit from further research and methodology development. A distinction is made between methodologies used to assess general vulnerability and those that value the outcome of insecurity by testing how energy systems respond to disturbances...
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