A two stage stochastic equilibrium model for electricity markets with forward contracts

Please use this identifier to cite or link to this item: https://doi.org/10.1109/PMAPS.2010.5528998

Title:	A two stage stochastic equilibrium model for electricity markets with forward contracts
Authors:	Zhang, D. Kim, S.
Keywords:	Electricity markets Forward contracts Supply functions
Issue Date:	2010
Citation:	Zhang, D.,Kim, S. (2010). A two stage stochastic equilibrium model for electricity markets with forward contracts. 2010 IEEE 11th International Conference on Probabilistic Methods Applied to Power Systems, PMAPS 2010 : 194-199. ScholarBank@NUS Repository. https://doi.org/10.1109/PMAPS.2010.5528998
Abstract:	This paper investigates a two stage equilibrium model for generators' strategic behaviors in contract signing in the forward market and electricity bidding in the electricity spot market. We propose a linear asymmetric supply function equilibrium model to develop generators' optimal bidding strategies considering a forward market equilibrium in the second stage, and show the existence and uniqueness of the two stage stochastic equilibrium. In the numerical test, we present some stability analysis on the impacts of a set of factors on the market clearing price in the spot market and strike price in the forward market. ©2010 IEEE.
Source Title:	2010 IEEE 11th International Conference on Probabilistic Methods Applied to Power Systems, PMAPS 2010
URI:	http://scholarbank.nus.edu.sg/handle/10635/72271
ISBN:	9781424457236
DOI:	10.1109/PMAPS.2010.5528998
Appears in Collections:	Staff Publications

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