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Do we need a power exchange if there are enough power marketers ?

Author

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  • SMEERS, Yves

    (Center for Operations Research and Econometrics (CORE), Université catholique de Louvain (UCL), Louvain la Neuve, Belgium)

  • WEI, Jing-Yuan

    (Center for Operations Research and Econometrics (CORE), Université catholique de Louvain (UCL), Louvain la Neuve, Belgium)

Abstract

Decentralization in electricity restructuring is a growing trend that Power Marketers are ex- pected to take advantage of. We consider a market composed of Power Marketers, an Indepen- dent System Operator, generators and retailers. Power Marketers behave a` la Cournot-Nash and the ISO implements a Transmission Capacity Reservation market a` la FERC. Retailers are price taker. Generators’ behavior is only reflected in the purchase costs of the Power Marketers. Their behavior is thus not really modeled. We define equilibrium of this market and show that it is efficient when the number of the Power Marketers is large enough.

Suggested Citation

  • SMEERS, Yves & WEI, Jing-Yuan, 1997. "Do we need a power exchange if there are enough power marketers ?," LIDAM Discussion Papers CORE 1997060, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    • Handle: RePEc:cor:louvco:1997060
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    File URL: https://sites.uclouvain.be/core/publications/coredp/coredp1997.html
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    Cited by:

    1. DAXHELET, Olivier & SMEERS, Yves, 1999. "Variational inequality models of restructured electricity systems," LIDAM Discussion Papers CORE 1999066, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    2. Mumcu, Ayşe & Oğur, Serhan & Zenginobuz, Unal, 2001. "Competition between regulated and non-regulated generators on electric power networks," MPRA Paper 376, University Library of Munich, Germany.
    3. Steven A. Gabriel & Supat Kiet & Jifang Zhuang, 2005. "A Mixed Complementarity-Based Equilibrium Model of Natural Gas Markets," Operations Research, INFORMS, vol. 53(5), pages 799-818, October.
    4. Egging, Ruud & Gabriel, Steven A. & Holz, Franziska & Zhuang, Jifang, 2008. "A complementarity model for the European natural gas market," Energy Policy, Elsevier, vol. 36(7), pages 2385-2414, July.

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