A linear complementarity model is developed and presented for two different electricity market designs comprising an energy-only as well as a capacity market. In addition, storage units are implemented, assessing the impact of the market design on these units. Results of a case study for northern Eu...

The authors analyse the operational profitability of a hydropower system selling both energy and reserve capacity in a competitive market setting. A mathematical model based on stochastic dynamic programming is used to compute the water values for the system considering different power plant configu...

An equilibrium model of the energy market is extended by a carbon emissions market. In addition, the mix of renewable energy sources is optimized given a limit on total generation. These two new features are integrated into an existing model to assess the effects of a carbon emissions market in a ca...