Modeling regional electric power markets and market power

摘要: This paper develops a nonlinear, mathematical programming model for estimating production decisions in an open access, regional power market. Our approach allows one to estimate competitive market equilibrium prices, which turn offers empirical conclusions about marginal generation facilities, transmission interconnection congestion, and most importantly, load pockets power. Sensitivity analyses are conducted by subjecting the changes costs, peak hour demand, imports, price assumptions. We then consider issue of firm's ability exercise implications it may have on prices. The Louisiana is used as case study our work. Copyright © 2001 John Wiley & Sons, Ltd.