Electricity market equilibrium models with dynamic demand functions

Loading...
Thumbnail Image

Date

2013

Authors

Çelebi, Emre

Journal Title

Journal ISSN

Volume Title

Publisher

Open Access Color

OpenAIRE Downloads

OpenAIRE Views

Research Projects

Organizational Units

Journal Issue

Abstract

Many electricity market models have either mostly ignored the demand response to changing prices (e.g. day-ahead models with mostly fixed demand) or at the other extreme they assumed that the full demand response occurred within one hour. Moreover the capital stock adjustment and the forward-looking nature of consumers are usually omitted. In this paper we propose variational inequality models for electricity markets with dynamic demand models where the intertemporal nature of consumption (i.e. the current consumption decision affects capital stock/habits and thus the future preferences and demand) is recognized. It is intended that the proposed models would develop a framework for electricity market equilibrium models that incorporate the dynamics of the demand side. © 2013 IEEE.

Description

Keywords

capital stock adjustment, demand response, habit formation, load modeling, Power system economics, variational inequality problem

Turkish CoHE Thesis Center URL

Fields of Science

Citation

0

WoS Q

N/A

Scopus Q

N/A

Source

Volume

Issue

Start Page

End Page