英文标题：
《Extended opportunity cost model to find near equilibrium electricity
  prices under non-convexities》
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作者：
Hassan Shavandi, Mehrdad Pirnia, J. David Fuller
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最新提交年份：
2018
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英文摘要：
  This paper finds near equilibrium prices for electricity markets with nonconvexities due to binary variables, in order to reduce the market participants\' opportunity costs, such as generators\' unrecovered costs. The opportunity cost is defined as the difference between the profit when the instructions of the market operator are followed and when the market participants can freely make their own decisions based on the market prices. We use the minimum complementarity approximation to the minimum total opportunity cost (MTOC) model, from previous research, with tests on a much more realistic unit commitment (UC) model than in previous research, including features such as reserve requirements, ramping constraints, and minimum up and down times. The developed model incorporates flexible price responsive demand, as in previous research, but since not all demand is price responsive, we consider the more realistic case that total demand is a mixture of fixed and flexible. Another improvement over previous MTOC research is computational: whereas the previous research had nonconvex terms among the objective function\'s continuous variables, we convert the objective to an equivalent form that contains only linear and convex quadratic terms in the continuous variables. We compare the unit commitment model with the standard social welfare optimization version of UC, in a series of sensitivity analyses, varying flexible demand to represent varying degrees of future penetration of electric vehicles and smart appliances, different ratios of generation availability, and different values of transmission line capacities to consider possible congestion. The minimum total opportunity cost and social welfare solutions are mostly very close in different scenarios, except in some extreme cases.
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中文摘要：
为了减少市场参与者的机会成本，如发电机的未回收成本，本文发现了由二元变量引起的具有非凸性的电力市场的近似均衡价格。机会成本被定义为当遵守市场运营商的指示时，以及当市场参与者可以根据市场价格自由作出自己的决定时，利润之间的差额。我们使用先前研究中得出的最小总机会成本（MTOC）模型的最小互补近似值，并在比先前研究更现实的机组组合（UC）模型上进行测试，包括备用需求、爬坡约束和最小上升和下降时间等特征。与之前的研究一样，开发的模型包含了灵活的价格响应需求，但由于并非所有需求都是价格响应的，因此我们考虑了更现实的情况，即总需求是固定需求和灵活需求的混合。与之前的MTOC研究相比，另一个改进是计算性的：虽然之前的研究在目标函数的连续变量中有非凸项，但我们将目标转换为仅包含连续变量中的线性和凸二次项的等价形式。我们将机组组合模型与UC的标准社会福利优化版本进行了比较，在一系列敏感性分析中，不同的灵活需求代表了电动汽车和智能电器未来不同程度的渗透率，不同的发电可用率，以及不同的输电线容量值，以考虑可能的拥塞。除了一些极端情况外，在不同的情况下，最低总机会成本和社会福利解决方案大多非常接近。
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分类信息：

一级分类：Economics        经济学
二级分类：General Economics        一般经济学
分类描述：General methodological, applied, and empirical contributions to economics.
对经济学的一般方法、应用和经验贡献。
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一级分类：Quantitative Finance        数量金融学
二级分类：Economics        经济学
分类描述：q-fin.EC is an alias for econ.GN. Economics, including micro and macro economics, international economics, theory of the firm, labor economics, and other economic topics outside finance
q-fin.ec是econ.gn的别名。经济学，包括微观和宏观经济学、国际经济学、企业理论、劳动经济学和其他金融以外的经济专题
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