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3219. On a Tractable Single-Level Reformulation of a Multilevel Model of the European Entry-Exit Gas Market with Market Power
Invited abstract in session TA-19: OR in Gas Networks , stream OR in Energy.
Tuesday, 8:30-10:00Room: 44 (building: 116)
Authors (first author is the speaker)
| 1. | Julia Grübel
|
| Department Liberal Arts and Social Sciences, University of Technology Nuremberg | |
| 2. | Veronika Grimm
|
| Friedrich-Alexander-Universität Erlangen-Nürnberg | |
| 3. | Martin Schmidt
|
| Department of Mathematics, Trier University | |
| 4. | Alexandra Schwartz
|
| Faculty of Mathematics, TU Dresden | |
| 5. | Ann-Kathrin Wiertz
|
| Industrial Organization and Energy Markets, Friedrich-Alexander-Universität Erlangen-Nürnberg | |
| 6. | Gregor Zöttl
|
| VWL, FAU Erlangen-Nuernberg |
Abstract
We propose a framework that allows to quantitatively analyze the interplay of the different agents involved in gas trade and transport in the context of the European entry-exit system. While previous contributions focus on the case of perfectly competitive buyers and sellers of gas, our novel framework considers the mathematically more challenging case of a strategic and monopolistic gas seller. We present a multilevel framework that is suitable to capture the sequential nature of the decisions taken. We then derive sufficient conditions that allow for reformulating the challenging four-level model as a computationally tractable single-level reformulation. We prove the correctness of this reformulation and use it for solving several test instances to illustrate the applicability of our approach.
Keywords
- OR in Energy
- Energy Policy and Planning
- Game Theory
Status: accepted
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