Capacity Expansion Equilibria in Liberalized Electricity Markets: An EPEC Approach

@article{Wogrin2013CapacityEE,
  title={Capacity Expansion Equilibria in Liberalized Electricity Markets: An EPEC Approach},
  author={Sonja Wogrin and J. Barqu{\'i}n and E. Centeno},
  journal={IEEE Transactions on Power Systems},
  year={2013},
  volume={28},
  pages={1531-1539}
}
This paper presents a novel way to model the generation capacity expansion problem in a liberalized framework via a multi-year bilevel equilibrium model. In the upper level the competing generation companies maximize their individual profits, while the lower level represents the market using a conjectured-price response approach, which allows us to vary the… CONTINUE READING