Competition Equilibrium Model

Units:	-
Default Value:	0
Validation Rule:	In (0,1,2)
Description:	Equilibrium Model. Optimizes generation / pricing position of portfolios over the short or medium term.
Detail:

Competition Equilibrium Model determines the competitive behavior in the MT Schedule step of the simulation, with trading strategies then decomposed into the ST Schedule phase. Thus it sets the medium-term 'game' played by strategic entities (companies). There are three options available:

Perfect Competition (value = 0)

Generation and transmission bids are based on short-run marginal cost.

LRMC / Revenue Recovery (value = 1)

Described in the article LRMC Recovery

Nash-Cournot Competition (value = 2)

Described in the article Nash Cournot