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Alternative Models of Restructured Electricity Systems, Part 1: No Market Power

Author

Listed:
  • Jacqueline Boucher

    (Center for Operations Research and Econometrics, Université Catholique de Louvain, 34 Voie du Roman Pays, 1348 Louvain-La-Neuve, Belgium)

  • Yves Smeers

    (Center for Operations Research and Econometrics, Université Catholique de Louvain, 34 Voie du Roman Pays, 1348 Louvain-La-Neuve, Belgium)

Abstract

Different equilibrium concepts have been proposed by various authors (Schweppe et al., Hogan et al., Chao and Peck, Wu et al.) to analyse competitive electricity systems. We establish correspondences between these different models through 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 modeling of some imperfect markets.

Suggested Citation

  • Jacqueline Boucher & Yves Smeers, 2001. "Alternative Models of Restructured Electricity Systems, Part 1: No Market Power," Operations Research, INFORMS, vol. 49(6), pages 821-838, December.
    • Handle: RePEc:inm:oropre:v:49:y:2001:i:6:p:821-838
    DOI: 10.1287/opre.49.6.821.10017
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    References listed on IDEAS

    as
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