On a Tractable Single-Level Reformulation of a Multilevel Model of the European Entry-Exit Gas Market with Market Power

We propose a framework that allows to quantitatively analyze the interplay of the different agents involved in gas trade and transport in the context of the European entry-exit system. While previous contributions focus on the case of perfectly competitive buyers and sellers of gas, our novel framework considers the mathematically more challenging case of a … Read more

Numerical Study of Affine Supply Function Equilibrium in AC Network-Constrained Markets

An affine supply function equilibrium (SFE) approach is used to discuss voltage constraints and reactive power issues in the modeling of strategic behavior. Generation companies (GenCos) can choose their bid parameters with no restrictions for both energy and spinning reserves. The strategic behavior of generators is formulated as a multi-leader single-follower game. Each GenCo is … Read more