Willsemsen, Iris (2026) Incorporating Network Constraints into Competitive Electricity Market Equilibria. Research Project, Industrial Engineering and Management.
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Abstract
The model extends a renewable energy market framework by adding the physical realities of power networks. It reformulates the supply–demand balance using the network incidence matrix, making power‑flow distribution explicit, and introduces transmission capacity limits to capture congestion. A KKT‑based analysis and projected primal–dual dynamics show that consumption and prices converge uniquely, while power flows may not; a second‑level optimization selects a unique dispatch by minimizing the flow‑vector norm, supported by stabilizing terms that ensure convergence. Simulations across different grid topologies show that when transmission capacity is ample, the model reproduces the original competitive equilibrium, and when capacity is tight, it yields new equilibria that reflect physical feasibility. The work demonstrates how network structure and congestion shape market outcomes and provides a more realistic foundation for renewable‑dominated electricity markets.
| Item Type: | Thesis (Research Project) |
|---|---|
| Supervisor name: | Monshizadeh Naini, N. and Cherukuri, A.K. |
| Degree programme: | Industrial Engineering and Management |
| Thesis type: | Research Project |
| Language: | English |
| Date Deposited: | 03 Mar 2026 11:46 |
| Last Modified: | 03 Mar 2026 11:46 |
| URI: | https://fse.studenttheses.ub.rug.nl/id/eprint/37245 |
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