Variational Methods for Equilibrium Problems Applied to Electricity Markets

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Abstract
This paper focuses on the study of an economic equilibrium problem for an electricity market model in a multistage-stochastic framework, where,stage by stage, the uncertainty evolves with continuity. We analyze the point of view of a finite number of power companies in a sequence of competitive markets.Each of them produces electricity, both with conventional and renewable-based plants, participates in the trade in the spot markets that open after the uncertainty is revealed, and signs bilateral and forward contracts. Moreover, we capture the risk attitude of each power company by considering a suitable coherent risk measure in the problem’s formulation. In order to prove the existence of at least one equilibrium solution, we introduce a suitable quasi-variational inequality formulation. In this light, we also investigate suitable regularity properties of the involved superdifferential operator in the presence of certain parameter perturbations in Banach spaces.
Funding Information
  • Italian Ministry of University and Reserach - PRIN 2022 (20229CWYXC)
  • Italian Ministry of University and Research - PRIN 2020 (2020B2AKFW-003)
  • European COST project (CA19130)
  • Centre for the Analysis and Measurement of Global Risks
  • Centre for the Analysis and Measurement of Global Risks
  • INDAM-GNAMPA (E53C23001670001)
  • INDAM-GNAMPA (E53C23001670001)

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