An MPEC approach for analysing the impact of energy storage in imperfect electricity markets

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Title: An MPEC approach for analysing the impact of energy storage in imperfect electricity markets
Authors: Ye, Y
Papadaskalopoulos, D
Strbac, G
Item Type: Conference Paper
Abstract: Although recent studies have investigated the impacts of energy storage on various aspects of power system operation and planning, its role in imperfect electricity markets has not been explored yet. This paper provides for the first time theoretical and quantitative evidence of the beneficial impact of energy storage in limiting market power by generation companies. Quantitative analysis is supported by a bi-level optimization model of the imperfect electricity market setting, accounting for the time-coupling operational constraints of energy storage. This bi-level problem is solved after converting it to a Mathematical Program with Equilibrium Constraints (MPEC). Case studies are carried out on a test market with day-ahead horizon and hourly resolution.
Issue Date: 6-Jun-2016
Date of Acceptance: 4-Apr-2016
URI: http://hdl.handle.net/10044/1/31657
DOI: 10.1109/EEM.2016.7521287
Publisher: IEEE
Journal / Book Title: Proceedings of the 13th International Conference on the European Energy Market (EEM)
Copyright Statement: © 2016 IEEE. Personal use of this material is permitted. Permission from IEEE must be obtained for all other uses, in any current or future media, including reprinting/republishing this material for advertising or promotional purposes, creating new collective works, for resale or redistribution to servers or lists, or reuse of any copyrighted component of this work in other works.
Conference Name: 13th International Conference on the European Energy Market (EEM)
Publication Status: Published
Start Date: 2016-06-06
Finish Date: 2016-06-09
Conference Place: Porto, Portugal
Embargo Date: publication subject to indefinite embargo
Appears in Collections:Faculty of Engineering
Electrical and Electronic Engineering
Centre for Environmental Policy
Faculty of Natural Sciences



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