# American Institute of Mathematical Sciences

July  2015, 11(3): 985-998. doi: 10.3934/jimo.2015.11.985

## Electricity day-ahead markets: Computation of Nash equilibria

 1 Faculdade de Ciências, Universidade do Porto and INESC TEC, Rua do Campo Alegre, 4169-007 Porto, Portugal, Portugal 2 Faculdade de Engenharia, Universidade do Porto and INESC TEC, Rua Dr. Roberto Frias, 4200 - 465 Porto, Portugal

Received  May 2012 Revised  June 2014 Published  October 2014

In a restructured electricity sector, day-ahead markets can be modeled as a game where some players - the producers - submit their proposals. To analyze the companies' behavior we have used the concept of Nash equilibrium as a solution in these multi-agent interaction problems. In this paper, we present new and crucial adaptations of two well-known mechanisms, the adjustment process and the relaxation algorithm, in order to achieve the goal of computing Nash equilibria. The advantages of these approaches are highlighted and compared with those available in the literature.
Citation: Margarida Carvalho, João Pedro Pedroso, João Saraiva. Electricity day-ahead markets: Computation of Nash equilibria. Journal of Industrial & Management Optimization, 2015, 11 (3) : 985-998. doi: 10.3934/jimo.2015.11.985
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