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Complementarity Models for Electric Power Market Equilibria

Dr. Steven A. Gabriel, Dr. Antonio Conejo (UCLM=Universidad de Castilla- La Mancha, Ciudad Real, Spain), and Dr. Raquel García-Bertrand (Ph.D., UCLM 2005) have developed models for electric power market equilibria based on complementarity formulations. These models additionally take into account that the market operator enforces a minimum profit condition (as in the case of Mainland Spain). The resulting formulation is thus an example of a discretely-constrained mathematical program with equilibrium constraints (DC-MPEC). Several algorithms have been proposed for solution of this electric power planning problem.