Volume 50, Number 1, January-March 2016
|Page(s)||19 - 38|
|Published online||17 August 2015|
Deregulated electricity markets with thermal losses and production bounds: models and optimality conditions∗
1 University of Perpignan, Lab. PROMES,
UPR CNRS 8521, Rambla de la Thermodynamique, Technosud, 66100
2 The Czech Academy of Sciences, Institute of Information Theory and Automation, Pod Vodarenskou vezi 4, 182 08 Prague, Czech Republic.
3 Institute of Economic Studies, Faculty of Social Sciences, Charles University in Prague, Opletalova 26, 110 00 Prague, Czech Republic.
4 Centro de Modelamiento Matematico, Santiago, Chile.
Accepted: 19 March 2015
A multi-leader-common-follower game formulation has been recently used by many authors to model deregulated electricity markets. In our work, we first propose a model for the case of electricity market with thermal losses on transmission and with production bounds, a situation for which we emphasize several formulations based on different types of revenue functions of producers. Focusing on a problem of one particular producer, we provide and justify an MPCC reformulation of the producer’s problem. Applying the generalized differential calculus, the so-called M-stationarity conditions are derived for the reformulated electricity market model. Finally, verification of suitable constraint qualification that can be used to obtain first order necessary optimality conditions for the respective MPCCs are discussed.
Mathematics Subject Classification: 91B26 / 90C30 / 49J53
Key words: Deregulated electricity market / production bounds / mathematical program with complementarity constraints / M-stationarity / calmness
© EDP Sciences, ROADEF, SMAI 2015
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