We consider a collection of auctions representing zonal electricity markets, which are joined by transmission lines in a spatial system. At each market, generating companies (traders) and customers (buyers) submit their fixed offer/bid prices together with maximal offer/bid volumes, respectively. In addition to the usual balance and capacity constraints, we consider also the additional requirement of utilizing the minimal unique purchase price for all the zones. As a result, we obtain spatial equilibrium type problems with special parameter for finding zonal prices and offer/bid volumes. We show that the streamlined formulation can be inconsistent under rather natural assumptions and propose a relaxed formulation. This problem admits suitable solution methods. We propose a parametric method combined with a bisection type procedure to solve this problem.

(2011). Spatial Auction Markets with Unique Consumer Price . Retrieved from http://hdl.handle.net/10446/24777

Spatial Auction Markets with Unique Consumer Price

Allevi, Elisabetta;Gnudi, Adriana;Vespucci, Maria Teresa
2011-01-01

Abstract

We consider a collection of auctions representing zonal electricity markets, which are joined by transmission lines in a spatial system. At each market, generating companies (traders) and customers (buyers) submit their fixed offer/bid prices together with maximal offer/bid volumes, respectively. In addition to the usual balance and capacity constraints, we consider also the additional requirement of utilizing the minimal unique purchase price for all the zones. As a result, we obtain spatial equilibrium type problems with special parameter for finding zonal prices and offer/bid volumes. We show that the streamlined formulation can be inconsistent under rather natural assumptions and propose a relaxed formulation. This problem admits suitable solution methods. We propose a parametric method combined with a bisection type procedure to solve this problem.
2011
Allevi, Elisabetta; Gnudi, Adriana; Konnov, Igor V.; Vespucci, Maria Teresa
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/10446/24777
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