Computing the Electricity Market Equilibrium: Uses of market equilibrium models

摘要

In this paper we consider the formulation and uses of electricity market equilibrium models. Electricity market equilibrium modelling has progressed significantly in the last two decades, both in terms of formulation and in terms of computability. In this paper, we discuss equilibrium formulations and offer an assessment of where these models are useful, where they are not, and the prospects for improving them. The focus will be on models of United States markets and the England and Wales market.