The role of demand response in mitigating market power: a quantitative analysis using a stochastic market equilibrium model

DOI10.1007/S00291-022-00700-0MaRDI QIDQ6176191zbMATH OpenOpenAlexFDO

Authors Mel T. Devine, Valentin Bertsch

Publication date 25 July 2023

Published in OR Spectrum (Search for Journal in Brave)

Full work available at URL http://hdl.handle.net/10419/228283

zbMATH Keywords

demand response (DR)electricity marketmarket powermixed complementarity problem (MCP)renewable energy sources (RES)stochasticity

Mathematics Subject Classification ID

Consumer behavior, demand theory (91B42) Stochastic models in economics (91B70) Economic models of real-world systems (e.g., electricity markets, etc.) (91B74) Environmental economics (natural resource models, harvesting, pollution, etc.) (91B76)

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Cites work

• A Mixed Complementarity-Based Equilibrium Model of Natural Gas Markets
• A non-autonomous optimal control model of renewable energy production under the aspect of fluctuating supply and learning by doing
• A rolling horizon approach for stochastic mixed complementarity problems with endogenous learning: application to natural gas markets
• Basic theoretical foundations and insights on bilevel models and their applications to power systems
• Endogenous production capacity investment in natural gas market equilibrium models
• Equilibrium, uncertainty and risk in hydro-thermal electricity systems
• Examining the benefits of load shedding strategies using a rolling-horizon stochastic mixed complementarity equilibrium model
• Multiplicity of equilibria in conjectural variations models of natural gas markets
• Nash-profit efficiency: a measure of changes in market structures
• On risk averse competitive equilibrium
• Perfect competition vs. strategic behaviour models to derive electricity prices and the influence of renewables on market power
• Sell or store? An ADP approach to marketing renewable energy
• The effect of intermittent renewables on the electricity price variance
• Two-stage stochastic, large-scale optimization of a decentralized energy system: a case study focusing on solar PV, heat pumps and storage in a residential quarter

Cited in

(5)

• An Ising spin-based model to explore efficient flexibility in distributed power systems
• Strategic investment decisions in an oligopoly with a competitive fringe: an equilibrium problem with equilibrium constraints approach
• Optimal investment by large consumers in an electricity market with generator market power
• Dynamic tariff-based demand response in retail electricity market under uncertainty
• Examining the benefits of load shedding strategies using a rolling-horizon stochastic mixed complementarity equilibrium model

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