Institute of Information Theory and Automation

Publication details

Deregulated electricity markets with thermal losses and production bounds: models and optimality conditions

Journal Article

Aussel D., Červinka Michal, Marechal M.

serial: R A I R O - Operations Research vol.50, 1 (2016), p. 19-38

project(s): GAP402/12/1309, GA ČR, GA201/09/1957, GA ČR

keywords: Deregulated electricity market, production bounds, mathematical program with complementarity constraints, M-stationarity, calmness

abstract (eng):

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.


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Institute of Information Theory and Automation