Abstract
A conjectural-variation-based equilibrium model of a single-price electricity market is used to analyze the effect of voltage constraints on the generators’ strategic behavior. The solution of the model is computed by means of a two-stage optimization procedure. In the first stage, the day-ahead market clearing process is modeled. In the second stage, an AC optimal power flow determines the active and reactive production changes of the generation units in order to meet the technical network constraints.
