Abstract
Problems related to the optimal regulation of wholesale electricity markets in modern conditions are formulated and investigated. The models incorporate opportunities provided by new technical and economic tools: renewable energy sources and storage devices and using multipart tariffs for energy management. The optimization problems are analyzed using Lagrange’s theorem and the optimal management strategies are determined both for a scenario in which complete information about random factors is available and for a scenario with probabilistic uncertainty. The economic mechanisms and conditions that could ensure the optimal functioning of the market in relation to public welfare are discussed.
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This study was supported by the Russian Foundation for Basic Research, project no. 19-01-00533 А.
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Translated by A. Ovchinnikova
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Vasin, A.A., Grigog’eva, O.M. & Shendyapin, A.S. New Tools and Problems in Regulating the Electricity Market. J. Comput. Syst. Sci. Int. 60, 422–434 (2021). https://doi.org/10.1134/S1064230721030151
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DOI: https://doi.org/10.1134/S1064230721030151