Modeling the Impact of Market Interventions on the Strategic Evolution of Electricity Markets
成果类型：
Article
署名作者：
Bunn, Derek W.; Oliveira, Fernando S.
署名单位：
University of London; London Business School; ESSEC Business School
刊物名称：
OPERATIONS RESEARCH
ISSN/ISSBN：
0030-364X
DOI：
10.1287/opre.1080.0565
发表日期：
2008
页码：
1116-1130
关键词：
摘要：
This paper presents a large-scale computationally intensive model for understanding the dynamic strategic evolution of electricity-generating asset portfolios in response to various market interventions, and the consequent longer-term effects of such changes on market structure and prices. We formulate a multistage model involving a Cournot representation of the wholesale electricity market, the performance of which then determines plant trading between players and the coevolution of market structure. An algorithm to model this game is presented. We apply this model to the full England and Wales system, as it was in 2000, and simulate the strategic responses to divestiture, capacity targets, and the two market mechanism variants of pool and bilateral market clearing.