Analyzing the Equilibrium of Oligopoly Electricity Markets with Contracts

摘要：

Many countries have deregulated their electricity markets.But the important physical characteristics of electricity supply industry decide that the electricity market is an oligopoly market.In order to optimally manage the trade risks,financial tools such as forward contracts and options contracts is introduced into electricity markets.Based on game theory of economics,this paper derives the equilibrium solution of oligopoly electricity markets and show that the existence of forward contracts and options contracts increases the efficiency of markets in a Cournot setting,but options contracts have more flexibility and attraction to market players.

关键词： Electricity markets Cournot model Contracts Equilibrium analyzing

作者: Xin MA

作者单位: School of Management and Economics,North China University of Water Conservancy and Electric Power,Zhengzhou,China,450011;State Key Lab of Systems Ecology,Research Center for Eco-Enviromnental Sciences,Chinese Academy of Sciences,Beijing,China,100085

会议类型: 国际会议

会议名称: The 2008 International Conference on Business Intelligence and Financial Engineering(BIFE 2008)(商业智能和金融工程国际会议)

会议地点: 长沙

会议语种:英文

页码: 511-516

在线出版日期: 2008-10-28（万方平台首次上网日期，不代表论文的发表时间）