NDLI: Strategic forward contracting under different competition modes in electricity markets

Content Provider	IEEE Xplore Digital Library
Author	Zhang Shaohua Wang Xian
Copyright Year	2009
Description	Author affiliation: Department of Automation, Shanghai University, 200072, China (Zhang Shaohua; Wang Xian)
Abstract	Power generating firms' forward contract sales have strategic impacts on the competition outcomes of electricity spot markets. It is possible that these strategic impacts could also give rise to another incentive for generating firms to sign forward contracts. Strategic forward contracting induced by this incentive is examined under different competition modes in an electricity spot market with asymmetric, multiple strategic generating firms. Theoretic analysis shows that if each generating firm takes as fixed the other firms' contract positions when making its own forward contracting decision, then under Cournot-type competition in the spot market, each rational firm would voluntarily take part in the strategic contracting, while under long-lived linear supply function(LSF)-type competition in spot markets, the incentive to strategic contracting will be lost for each firm. A numerical example is used to verify theoretical results.
Starting Page	4535
Ending Page	4540
File Size	150040
Page Count	6
File Format	PDF
ISBN	9781424427222
DOI	10.1109/CCDC.2009.5191468
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2009-06-17
Publisher Place	China
Access Restriction	Subscribed
Rights Holder	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subject Keyword	Automation Regulators Costs Cournot competition Strategic forward contracting Electricity market Linear supply function competition Forward contracts Electricity supply industry Load management Marketing and sales Risk management Energy management Power generation
Content Type	Text
Resource Type	Article

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