Alternative models of restructured electricity systems. Part 1: no market power
Different equilibrium concepts have been proposed by various authors (Schweppe et al, Hogan, Chao and Peck, Wu et al) to analyse competitive electricity systems. We establish correspondences between these different models though a single framework and provide additional interpretations of these equilibrium concepts. This unifying conceptual view also provides a computationally feasible approach to simulate the market. It also opens the way to the modelling of some imperfect markets.
|Date of creation:||01 Sep 1999|
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- Richard Schmalensee & Paul L. Joskow & A. Denny Ellerman & Juan Pablo Montero & Elizabeth M. Bailey, 1998. "An Interim Evaluation of Sulfur Dioxide Emissions Trading," Journal of Economic Perspectives, American Economic Association, vol. 12(3), pages 53-68, Summer.
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- Robert Wilson, 1997. "Implementation of Priority Insurance in Power Exchange Markets," The Energy Journal, International Association for Energy Economics, vol. 0(Number 1), pages 111-123.
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- Wu, Felix, et al, 1996. "Folk Theorems on Transmission Access: Proofs and Counterexamples," Journal of Regulatory Economics, Springer, vol. 10(1), pages 5-23, July.
- Harker, Patrick T., 1991. "Generalized Nash games and quasi-variational inequalities," European Journal of Operational Research, Elsevier, vol. 54(1), pages 81-94, September.
- Hung-po Chao & Stephen Peck, 1997. "An Institutional Design for an Electricity Contract Market with Central Dispatch," The Energy Journal, International Association for Energy Economics, vol. 0(Number 1), pages 85-110.
- Joskow, Paul L & Schmalensee, Richard & Bailey, Elizabeth M, 1998. "The Market for Sulfur Dioxide Emissions," American Economic Review, American Economic Association, vol. 88(4), pages 669-85, September.
- Chao, Hung-Po & Peck, Stephen, 1996. "A Market Mechanism for Electric Power Transmission," Journal of Regulatory Economics, Springer, vol. 10(1), pages 25-59, July.
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