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Network-constrained Cournot models of liberalized electricity markets: the devil is in the details

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  1. Desmond Cai & Subhonmesh Bose & Adam Wierman, 2019. "On the Role of a Market Maker in Networked Cournot Competition," Mathematics of Operations Research, INFORMS, vol. 44(3), pages 1122-1144, August.
  2. Lise, Wietze & Hobbs, Benjamin F. & Hers, Sebastiaan, 2008. "Market power in the European electricity market--The impacts of dry weather and additional transmission capacity," Energy Policy, Elsevier, vol. 36(4), pages 1331-1343, April.
  3. Nagl, Stephan, 2013. "The Effect of Weather Uncertainty on the Financial Risk of Green Electricity Producers under Various Renewable Policies," EWI Working Papers 2013-15, Energiewirtschaftliches Institut an der Universitaet zu Koeln (EWI).
  4. Nagl, Stephan, 2013. "Prices vs. Quantities: Incentives for Renewable Power Generation - Numerical Analysis for the European Power Market," EWI Working Papers 2013-4, Energiewirtschaftliches Institut an der Universitaet zu Koeln (EWI).
  5. Willems, Bert & Rumiantseva, Ina & Weigt, Hannes, 2009. "Cournot versus Supply Functions: What does the data tell us?," Energy Economics, Elsevier, vol. 31(1), pages 38-47, January.
  6. Dávid Csercsik & László Á. Kóczy, 2017. "Efficiency and Stability in Electrical Power Transmission Networks: a Partition Function Form Approach," Networks and Spatial Economics, Springer, vol. 17(4), pages 1161-1184, December.
  7. Jian Yao & Ilan Adler & Shmuel S. Oren, 2008. "Modeling and Computing Two-Settlement Oligopolistic Equilibrium in a Congested Electricity Network," Operations Research, INFORMS, vol. 56(1), pages 34-47, February.
  8. Juan Rosellón & Hannes Weigt, 2011. "A Dynamic Incentive Mechanism for Transmission Expansion in Electricity Networks: Theory, Modeling, and Application," The Energy Journal, , vol. 32(1), pages 119-148, January.
  9. Holmberg, Pär & Lazarczyk, Ewa, 2012. "Congestion Management in Electricity Networks: Nodal, Zonal and Discriminatory Pricing," Working Paper Series 915, Research Institute of Industrial Economics.
  10. Karel Janda & Jan Malek & Lukas Recka, 2017. "Influence of Renewable Energy Sources on Electricity Transmission Networks in Central Europe," Working Papers IES 2017/05, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Feb 2017.
  11. Leonardo Massai & Giacomo Como & Fabio Fagnani, 2022. "Equilibria in Network Constrained Energy Markets," Papers 2206.08133, arXiv.org, revised Nov 2022.
  12. Carlo Fezzi & Derek Bunn, 2010. "Structural Analysis of Electricity Demand and Supply Interactions," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 72(6), pages 827-856, December.
  13. J Barquín & B Vitoriano & E Centeno & F Fernández-Menéndez, 2009. "An optimization-based conjectured supply function equilibrium model for network constrained electricity markets," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 60(12), pages 1719-1729, December.
  14. Wolf-Peter Schill & Claudia Kemfert, 2011. "Modeling Strategic Electricity Storage: The Case of Pumped Hydro Storage in Germany," The Energy Journal, International Association for Energy Economics, vol. 0(Number 3), pages 59-88.
  15. Zugang Liu & Anna Nagurney, 2009. "An integrated electric power supply chain and fuel market network framework: Theoretical modeling with empirical analysis for New England," Naval Research Logistics (NRL), John Wiley & Sons, vol. 56(7), pages 600-624, October.
  16. Shafie-khah, Miadreza & Parsa Moghaddam, Mohsen & Sheikh-El-Eslami, Mohamad Kazem, 2013. "Development of a virtual power market model to investigate strategic and collusive behavior of market players," Energy Policy, Elsevier, vol. 61(C), pages 717-728.
  17. Newbery, David & Strbac, Goran & Viehoff, Ivan, 2016. "The benefits of integrating European electricity markets," Energy Policy, Elsevier, vol. 94(C), pages 253-263.
  18. Lise, Wietze & Hobbs, Benjamin F. & van Oostvoorn, Frits, 2008. "Natural gas corridors between the EU and its main suppliers: Simulation results with the dynamic GASTALE model," Energy Policy, Elsevier, vol. 36(6), pages 1890-1906, June.
  19. Mel T. Devine & Valentin Bertsch, 2023. "The role of demand response in mitigating market power: a quantitative analysis using a stochastic market equilibrium model," OR Spectrum: Quantitative Approaches in Management, Springer;Gesellschaft für Operations Research e.V., vol. 45(2), pages 555-597, June.
  20. Virasjoki, Vilma & Siddiqui, Afzal S. & Oliveira, Fabricio & Salo, Ahti, 2020. "Utility-scale energy storage in an imperfectly competitive power sector," Energy Economics, Elsevier, vol. 88(C).
  21. Ibrahim Abada & Andreas Ehrenmann, 2016. "The prisoner’s dilemma in Cournot models: when endogenizing the level of competition leads to competitive behaviors," Cambridge Working Papers in Economics 1641, Faculty of Economics, University of Cambridge.
  22. Eicke, Anselm, 2022. "Where should generators be built in a zonal electricity market? A numerical analysis of administratively determined investment signals," EconStor Preprints 261346, ZBW - Leibniz Information Centre for Economics.
  23. Hélène Le Cadre, 2019. "On the efficiency of local electricity markets under decentralized and centralized designs: a multi-leader Stackelberg game analysis," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 27(4), pages 953-984, December.
  24. Pepermans, Guido & Willems, Bert, 2010. "Cost Recovery in Congested Electricity Networks," Working Papers 2010/22, Hogeschool-Universiteit Brussel, Faculteit Economie en Management.
  25. SMEERS, Yves, 2005. "How well can one measure market power in restructured electricity systems ?," LIDAM Discussion Papers CORE 2005050, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  26. Lise, Wietze & Hobbs, Benjamin F., 2008. "Future evolution of the liberalised European gas market: Simulation results with a dynamic model," Energy, Elsevier, vol. 33(7), pages 989-1004.
  27. Huppmann, Daniel & Egerer, Jonas, 2015. "National-strategic investment in European power transmission capacity," European Journal of Operational Research, Elsevier, vol. 247(1), pages 191-203.
  28. Valentin Bertsch & Valeria Di Cosmo, 2018. "Are Renewables Profitable in 2030? A Comparison between Wind and Solar across Europe," Working Papers 2018.28, Fondazione Eni Enrico Mattei.
  29. László Á. Kóczy & Dávid Csercsik, 2011. "Externalities in the games over electrical power transmission networks," Working Paper Series 1103, Óbuda University, Keleti Faculty of Business and Management.
  30. Alexander Zerrahn & Daniel Huppmann, 2014. "Network Expansion to Mitigate Market Power: How Increased Integration Fosters Welfare," Discussion Papers of DIW Berlin 1380, DIW Berlin, German Institute for Economic Research.
  31. Paul Twomey & Richard Green & Karsten Neuhoff & David Newbery, 2005. "A Review of the Monitoring of Market Power: The Possible Roles of TSOs in Monitoring for Market Power Issues in Congested Transmission Systems," Working Papers 0502, Massachusetts Institute of Technology, Center for Energy and Environmental Policy Research.
  32. Jan Málek & Lukáš Recka & Karel Janda, 2017. "Impact of German Energiewende on transmission lines in the Central European region," CAMA Working Papers 2017-72, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
  33. Jan Abrell & Hannes Weigt, 2012. "Combining Energy Networks," Networks and Spatial Economics, Springer, vol. 12(3), pages 377-401, September.
  34. Lise, Wietze & Kruseman, Gideon, 2008. "Long-term price and environmental effects in a liberalised electricity market," Energy Economics, Elsevier, vol. 30(2), pages 230-248, March.
  35. Grimm, Veronika & Martin, Alexander & Weibelzahl, Martin & Zöttl, Gregor, 2014. "Transmission and Generation Investment in Electricity Markets: The Effects of Market Splitting and Network Fee Regimes," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 460, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
  36. Tanachai Limpaitoon, Yihsu Chen, and Shmuel S. Oren, 2014. "The Impact of Imperfect Competition in Emission Permits Trading on Oligopolistic Electricity Markets," The Energy Journal, International Association for Energy Economics, vol. 0(Number 3).
  37. Vazquez, Miguel & Barquín, Julián, 2009. "A fundamental power price model with oligopolistic competition representation," MPRA Paper 15629, University Library of Munich, Germany.
  38. Wietze Lise & Jos Sijm & Benjamin Hobbs, 2010. "The Impact of the EU ETS on Prices, Profits and Emissions in the Power Sector: Simulation Results with the COMPETES EU20 Model," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 47(1), pages 23-44, September.
  39. Grimm, Veronika & Martin, Alexander & Weibenzahl, Martin & Zoettl, Gregor, 2014. "Transmission and generation investment in electricity markets: The effects of market splitting and network fee regimes," FAU Discussion Papers in Economics 04/2014, Friedrich-Alexander University Erlangen-Nuremberg, Institute for Economics.
  40. Pär Holmberg & Andy Philpott, 2014. "Supply function equilibria in transportation networks," Cambridge Working Papers in Economics 1421, Faculty of Economics, University of Cambridge.
  41. Giorgia Oggioni and Yves Smeers, 2012. "Degrees of Coordination in Market Coupling and Counter-Trading," The Energy Journal, International Association for Energy Economics, vol. 0(Number 3).
  42. Kamiński, Jacek, 2012. "The development of market power in the Polish power generation sector: A 10-year perspective," Energy Policy, Elsevier, vol. 42(C), pages 136-147.
  43. Karel Janda & Jan Malek & Lukas Recka, 2017. "The Influence of Renewable Energy Sources on the Czech Electricity Transmission System," Working Papers IES 2017/06, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Mar 2017.
  44. Alberto Orgaz & Antonio Bello & Javier Reneses, 2019. "A New Model to Simulate Local Market Power in a Multi-Area Electricity Market: Application to the European Case," Energies, MDPI, vol. 12(11), pages 1-15, May.
  45. Gabriel, Steven A. & Leuthold, Florian U., 2010. "Solving discretely-constrained MPEC problems with applications in electric power markets," Energy Economics, Elsevier, vol. 32(1), pages 3-14, January.
  46. Baltensperger, Tobias & Füchslin, Rudolf M. & Krütli, Pius & Lygeros, John, 2016. "Multiplicity of equilibria in conjectural variations models of natural gas markets," European Journal of Operational Research, Elsevier, vol. 252(2), pages 646-656.
  47. Cristian Zambrano & Yris Olaya, 2017. "An agent-based simulation approach to congestion management for the Colombian electricity market," Annals of Operations Research, Springer, vol. 258(2), pages 217-236, November.
  48. A. Downward & G. Zakeri & A. B. Philpottt, 2010. "On Cournot Equilibria in Electricity Transmission Networks," Operations Research, INFORMS, vol. 58(4-part-2), pages 1194-1209, August.
  49. Aghajani, Saemeh & Kalantar, Mohsen, 2017. "A cooperative game theoretic analysis of electric vehicles parking lot in smart grid," Energy, Elsevier, vol. 137(C), pages 129-139.
  50. Riepin, I. & Müsgens, F., 2019. "Seasonal Flexibility in the European Natural Gas Market," Cambridge Working Papers in Economics 1976, Faculty of Economics, University of Cambridge.
  51. Tanachai Limpaitoon & Yihsu Chen & Shmuel Oren, 2011. "The impact of carbon cap and trade regulation on congested electricity market equilibrium," Journal of Regulatory Economics, Springer, vol. 40(3), pages 237-260, December.
  52. Holmberg, Pär & Philpott, Andrew, 2012. "Supply Function Equilibria in Networks with Transport Constraints," Working Paper Series 945, Research Institute of Industrial Economics, revised 10 Aug 2015.
  53. Huppmann, Daniel, 2013. "Endogenous shifts in OPEC market power - A Stackelberg oligopoly with fringe," VfS Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order 79758, Verein für Socialpolitik / German Economic Association.
  54. S. Oliveira, Fernando & William-Rioux, Bertrand & Pierru, Axel, 2023. "Capacity expansion in liberalized electricity markets with locational pricing and renewable energy investments," Energy Economics, Elsevier, vol. 127(PB).
  55. Spiridonova, Olga, 2016. "Transmission capacities and competition in Western European electricity market," Energy Policy, Elsevier, vol. 96(C), pages 260-273.
  56. Bahçe, Serdal & Taymaz, Erol, 2008. "The impact of electricity market liberalization in Turkey: "Free consumer" and distributional monopoly cases," Energy Economics, Elsevier, vol. 30(4), pages 1603-1624, July.
  57. Petropoulos, Georgios & Willems, Bert, 2020. "Long-term transmission rights and dynamic efficiency," Energy Economics, Elsevier, vol. 88(C).
  58. Grimm, Veronika & Martin, Alexander & Schmidt, Martin & Weibelzahl, Martin & Zöttl, Gregor, 2016. "Transmission and generation investment in electricity markets: The effects of market splitting and network fee regimes," European Journal of Operational Research, Elsevier, vol. 254(2), pages 493-509.
  59. Janda, Karel & Málek, Jan & Rečka, Lukáš, 2017. "Influence of renewable energy sources on transmission networks in Central Europe," Energy Policy, Elsevier, vol. 108(C), pages 524-537.
  60. David Csercsik, 2013. "Competition and cooperation in a PFF game theoretic model of electrical energy trade," CERS-IE WORKING PAPERS 1310, Institute of Economics, Centre for Economic and Regional Studies.
  61. Alexander Zerrahn & Daniel Huppmann, 2017. "Network Expansion to Mitigate Market Power," Networks and Spatial Economics, Springer, vol. 17(2), pages 611-644, June.
  62. Moiseeva, Ekaterina & Wogrin, Sonja & Hesamzadeh, Mohammad Reza, 2017. "Generation flexibility in ramp rates: Strategic behavior and lessons for electricity market design," European Journal of Operational Research, Elsevier, vol. 261(2), pages 755-771.
  63. Valeria Di Cosmo & Sean Collins & Paul Deane, 2017. "The Effect of Increased Transmission and Storage in an Interconnected Europe: an Application to France and Ireland," ESP: Energy Scenarios and Policy 263159, Fondazione Eni Enrico Mattei (FEEM).
  64. Creti, Anna & Fumagalli, Eileen & Fumagalli, Elena, 2010. "Integration of electricity markets in Europe: Relevant issues for Italy," Energy Policy, Elsevier, vol. 38(11), pages 6966-6976, November.
  65. Dijk, Justin & Willems, Bert, 2011. "The effect of counter-trading on competition in electricity markets," Energy Policy, Elsevier, vol. 39(3), pages 1764-1773, March.
  66. Bertsch, Valentin & Devine, Mel, 2019. "The Role of Demand Response in Mitigating Market Power — A Quantitative Analysis Using a Stochastic Market Equilibrium Model," Papers WP635, Economic and Social Research Institute (ESRI).
  67. Blázquez De Paz, Mario, 2017. "Production or Transmission Investments? A Comparative Analysis," Working Paper Series 1158, Research Institute of Industrial Economics.
  68. Karel Janda & Jan Málek & Lukáš Rečka, 2017. "Vliv obnovitelných zdrojů na českou soustavu přenosu elektřiny [The Impact of Renewable Energy Sources on the Czech Electricity Transmission System]," Politická ekonomie, Prague University of Economics and Business, vol. 2017(6), pages 728-750.
  69. Kamiński, Jacek, 2014. "A blocked takeover in the Polish power sector: A model-based analysis," Energy Policy, Elsevier, vol. 66(C), pages 42-52.
  70. Pedro A. Neto & Terry L. Friesz & Ke Han, 2016. "Electric Power Network Oligopoly as a Dynamic Stackelberg Game," Networks and Spatial Economics, Springer, vol. 16(4), pages 1211-1241, December.
  71. Dávid Csercsik, 2016. "Competition and Cooperation in a Bidding Model of Electrical Energy Trade," Networks and Spatial Economics, Springer, vol. 16(4), pages 1043-1073, December.
  72. Kamiński, Jacek, 2011. "Market power in a coal-based power generation sector: The case of Poland," Energy, Elsevier, vol. 36(11), pages 6634-6644.
  73. Shafie-khah, Miadreza & Parsa Moghaddam, Mohsen & Sheikh-El-Eslami, Mohamad Kazem & Rahmani-Andebili, Mehdi, 2012. "Modeling of interactions between market regulations and behavior of plug-in electric vehicle aggregators in a virtual power market environment," Energy, Elsevier, vol. 40(1), pages 139-150.
  74. Helgesen, Per Ivar & Tomasgard, Asgeir, 2018. "An equilibrium market power model for power markets and tradable green certificates, including Kirchhoff's Laws and Nash-Cournot competition," Energy Economics, Elsevier, vol. 70(C), pages 270-288.
  75. Moutinho, Victor & Moreira, António C. & Mota, Jorge, 2014. "Do regulatory mechanisms promote competition and mitigate market power? Evidence from Spanish electricity market," Energy Policy, Elsevier, vol. 68(C), pages 403-412.
  76. Weigt, Hannes, 2009. "A Review of Liberalization and Modeling of Electricity Markets," MPRA Paper 65651, University Library of Munich, Germany.
  77. David Pozo & Enzo Sauma & Javier Contreras, 2017. "Basic theoretical foundations and insights on bilevel models and their applications to power systems," Annals of Operations Research, Springer, vol. 254(1), pages 303-334, July.
  78. Mulder, Machiel & Petrikaitė, Vaiva & Scholtens, Bert, 2015. "Distributed energy generation techniques and the competitive fringe effect in electricity markets," Resource and Energy Economics, Elsevier, vol. 42(C), pages 125-140.
  79. Helman, Udi, 2006. "Market power monitoring and mitigation in the US wholesale power markets," Energy, Elsevier, vol. 31(6), pages 877-904.
  80. Hélène Le Cadre, 2018. "On the Efficiency of Local Electricity Markets Under Decentralized and Centralized Designs: A Multi-leader Stackelberg Game Analysis," Working Papers hal-01619885, HAL.
  81. Juan Rosellon & Hannes Weigt, 2007. "A Combined Merchant-Regulatory Mechanism for Electricity Transmission Expansion in Europe," Working Papers DTE 396, CIDE, División de Economía.
  82. Schill, Wolf-Peter & Egerer, Jonas & Rosellón, Juan, 2015. "Testing Regulatory Regimes for Power Transmission Expansion with Fluctuating Demand and Wind Generation," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 47(1), pages 1-28.
  83. Pérez de Arce, Miguel & Sauma, Enzo & Contreras, Javier, 2016. "Renewable energy policy performance in reducing CO2 emissions," Energy Economics, Elsevier, vol. 54(C), pages 272-280.
  84. Anthony Downward, 2010. "Carbon Charges in Electricity Markets with Strategic Behavior and Transmission," The Energy Journal, , vol. 31(4), pages 159-166, October.
  85. Anthony Downward, 2010. "Carbon Charges in Electricity Markets with Strategic Behavior and Transmission," The Energy Journal, International Association for Energy Economics, vol. 0(Number 4), pages 159-166.
  86. Bertsch, Valentin & Di Cosmo, Valeria, 2020. "Are renewables profitable in 2030 and do they reduce carbon emissions effectively? A comparison across Europe," MPRA Paper 101822, University Library of Munich, Germany.
  87. Lizhi Wang & Anhua Lin & Yihsu Chen, 2010. "Potential impact of recharging plug‐in hybrid electric vehicles on locational marginal prices," Naval Research Logistics (NRL), John Wiley & Sons, vol. 57(8), pages 686-700, December.
  88. Tanaka, Makoto & Chen, Yihsu, 2012. "Market power in emissions trading: Strategically manipulating permit price through fringe firms," Applied Energy, Elsevier, vol. 96(C), pages 203-211.
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