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Journal article ยท Preprint article

Electricity Market Equilibrium Under Information Asymmetry

From

Center for Electric Power and Energy, Centers, Technical University of Denmark1

Energy Analytics and Markets, Center for Electric Power and Energy, Centers, Technical University of Denmark2

Department of Electrical Engineering, Technical University of Denmark3

We study a competitive electricity market equilibrium with two trading stages, day-ahead and real-time. The welfare of each market agent is exposed to uncertainty (here from renewable energy production), while agent information on the probability distribution of this uncertainty is not identical at the day-ahead stage.

We show a high sensitivity of the equilibrium solution to the level of information asymmetry and demonstrate economic, operational, and computational value for the system stemming from potential information sharing.

Language: English
Year: 2019
Pages: 521-526
ISSN: 18727468 and 01676377
Types: Journal article and Preprint article
DOI: 10.1016/j.orl.2019.09.005
ORCIDs: Dvorkin, Vladimir , Kazempour, Jalal and Pinson, Pierre
Other keywords

math.OC

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