On modeling spot electricity markets. An overview

Carlos Gutiérrez-Hita
Departamento de Estudios Económicos y Financieros
Area de Fundamentos del Análisis Económico
Universidad Miguel Hernández de Elche
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  • Abstract
    Liberalization of the electricity sector has opened a new field in economic modeling. Indeed, game theory and operation research techniques are implemented to model electricity firms’ competition. In particular, optimization models and time series analysis are useful to analyze allocation of resources, price forecast and many relevant issues in the study of electricity markets. In this paper we review actual trends of mathematical modeling applied to electricity markets.
  • Keywords: Electricity markets, Oligopoly models, Optimization, Time series analysis.
  • AMS Subject classifications: 90B50, 91B24, 91B26.
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