The impact of withholding flexibility: an application to ramp bidding in electricity markets

Ekaterina Moiseeva; M.R.  Hesamzadeh; Sonja Wogrin

The impact of withholding flexibility: an application to ramp bidding in electricity markets

Ekaterina Moiseeva, M.R. Hesamzadeh, Sonja Wogrin

Publikation: Konferenzbeitrag › Abstract › Begutachtung

Abstract

We compare a one-level and a bilevel equilibrium game in which firms' flexibility is either: decided at the same time as their production decisions; or sequentially. We analize the impact that different market structures have on the equilibrium outcomes. Our findings are applied to the ramp bidding game in electricity markets. It is observed that electricity producers may strategically declare a lower ramp rate if they expect such decision to maximize their profit in the production stage.

Originalsprache	englisch
Publikationsstatus	Veröffentlicht - 2015
Extern publiziert	Ja
Veranstaltung	2015 INFORMS Annual Meeting - Philadelphia, USA / Vereinigte Staaten Dauer: 1 Nov. 2015 → 4 Nov. 2015

Konferenz

Konferenz	2015 INFORMS Annual Meeting
Land/Gebiet	USA / Vereinigte Staaten
Ort	Philadelphia
Zeitraum	1/11/15 → 4/11/15

Dieses zitieren

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abstract = "We compare a one-level and a bilevel equilibrium game in which firms' flexibility is either: decided at the same time as their production decisions; or sequentially. We analize the impact that different market structures have on the equilibrium outcomes. Our findings are applied to the ramp bidding game in electricity markets. It is observed that electricity producers may strategically declare a lower ramp rate if they expect such decision to maximize their profit in the production stage.",

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AU - Hesamzadeh, M.R.

AU - Wogrin, Sonja

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N2 - We compare a one-level and a bilevel equilibrium game in which firms' flexibility is either: decided at the same time as their production decisions; or sequentially. We analize the impact that different market structures have on the equilibrium outcomes. Our findings are applied to the ramp bidding game in electricity markets. It is observed that electricity producers may strategically declare a lower ramp rate if they expect such decision to maximize their profit in the production stage.

AB - We compare a one-level and a bilevel equilibrium game in which firms' flexibility is either: decided at the same time as their production decisions; or sequentially. We analize the impact that different market structures have on the equilibrium outcomes. Our findings are applied to the ramp bidding game in electricity markets. It is observed that electricity producers may strategically declare a lower ramp rate if they expect such decision to maximize their profit in the production stage.

M3 - Abstract

T2 - 2015 INFORMS Annual Meeting

Y2 - 1 November 2015 through 4 November 2015

ER -