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Introduction and Motivation

In: Complementarity Modeling in Energy Markets

Author

Listed:
  • Steven A. Gabriel

    (University of Maryland)

  • Antonio J. Conejo

    (University of Castilla – La Mancha)

  • J. David Fuller

    (University of Waterloo)

  • Benjamin F. Hobbs

    (The Johns Hopkins University)

  • Carlos Ruiz

    (European Foundation for New Energy – EDF École Centrale Paris and Supélec)

Abstract

This chapter provides motivation for studying mixed complementarity problems in energy. This class of problems has proven to be especially important in modeling the various liberalized/liberalizing energy markets around the world given its flexibility and ability to directly manipulate both primal (physical) variables as well as dual (price) variables. In this chapter, we introduce complementarity problems and generalizations such as mathematical programs with equilibrium constraints through easy-to-understand and in some cases, well-known energy examples. We will show that one optimization problem, several ones, or optimization problems and nonlinear equations combined are all examples of complementarity problems or extensions, allowing for very general formulations. Upon finishing this chapter, it is anticipated that the reader will have a clearer picture of the modeling advantages of complementarity problems vis-à-vis optimization and other standard models. This chapter is organized as follows: Section 1.2 provides a motivation and description of complementarity models with a number of illustrative examples; Section 1.3 then summarizes the chapter and Section 1.4 provides a computational appendix.

Suggested Citation

  • Steven A. Gabriel & Antonio J. Conejo & J. David Fuller & Benjamin F. Hobbs & Carlos Ruiz, 2013. "Introduction and Motivation," International Series in Operations Research & Management Science, in: Complementarity Modeling in Energy Markets, edition 127, chapter 0, pages 1-29, Springer.
    • Handle: RePEc:spr:isochp:978-1-4419-6123-5_1
    DOI: 10.1007/978-1-4419-6123-5_1
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