Economic Engineering Modeling of Liberalized Electricity Markets: Approaches, Algorithms, and Applications in a European Context

• Main Author: Leuthold, Florian U.
• Other Authors: Technische Universität Dresden, Fakultät Wirtschaftswissenschaften
• Format: Doctoral Thesis
• Language: English
• Published: Saechsische Landesbibliothek- Staats- und Universitaetsbibliothek Dresden 2010
• Subjects: electricity market; large-scale modeling; optimization; optimal power flow; economic dispatch; unit commitment; game theory; Stackelberg game; MPEC; Benders decomposition; Europe; wind energy; network expansion; Elektrizitätsmarkt; Modellierung; Optimierung; Lastflussoptimierung; techno-ökonomische Kraftwerkseinsatzplanung; Spieltheorie; Stackelberg Spiel; Benders Dekomposition; Europa; Windenergie; Netzausbau; ddc:330; rvk:QR 530
• Online Access: http://nbn-resolving.de/urn:nbn:de:bsz:14-qucosa-26135; http://nbn-resolving.de/urn:nbn:de:bsz:14-qucosa-26135; http://www.qucosa.de/fileadmin/data/qucosa/documents/2613/Dissertation_Leuthold_FINAL_08012010.pdf

This dissertation focuses on selected issues in regard to the mathematical modeling of electricity markets. In a first step the interrelations of electric power market modeling are highlighted a crossroad between operations research, applied economics, and engineering. In a second step the development of a large-scale continental European economic engineering model named ELMOD is described and the model is applied to the issue of wind integration. It is concluded that enabling the integration of low-carbon technologies appears feasible for wind energy. In a third step algorithmic work is carried out regarding a game theoretic model. Two approaches in order to solve a discretely-constrained mathematical program with equilibrium constraints using disjunctive constraints are presented. The first one reformulates the problem as a mixed-integer linear program and the second one applies the Benders decomposition technique. Selected numerical results are reported.