Extend the electricity-market model to storage, real-time operation, and realistic transmission physics

Incorporate storage technologies, real-time responsiveness, and a more realistic transmission model that captures voltage and reactive-power constraints into the bilevel strategic electricity-market model with pollution control, transmission losses, and emission constraints.

Background

The paper develops a decentralized electricity-market model in which strategic generating agents submit bids to an Independent System Operator that determines generation and power flows subject to network-balance, capacity, and pollution constraints. The transmission representation includes resistive losses but does not model storage, real-time operational responsiveness, voltage behavior, or reactive power.

The authors explicitly identify these omissions as open modeling extensions. Addressing them would broaden the framework from a stylized day-ahead market with active-power and emission constraints toward a more operationally realistic electricity-market model.