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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...
The optimization and simulation of power systems continues to be an area of concern for electricity companies and researchers worldwide namely considering the development of electricity markets and competition in the generation activity Therefore generation companies are devoting an increasing attention to market issues justifying the development of models to help them preparing bidding strategies...
This paper proposes an agent-based computational model of the Italian wholesale electricity market. In particular, the aim of the paper is to study how the strategic behavior of the thermal power plants can influence the level of price at a zonal and national level with respect of a typical daily load profile. The model reproduces exactly the market clearing procedure, i.e., day-ahead market (DAM)...
Market power is one of the main concerns in the Italian electricity market. Transmission constraints and highly concentrated ownership structure in the market have been allowing firms to exercise market power and raise electricity prices above marginal cost. This paper presents a supply function equilibrium (SFE) model for analyzing the exercise of potential market power in the Italian electricity...
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