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On a Tractable Single-Level Reformulation of a Multilevel Model of the European Entry-Exit Gas Market with Market Power

Submission Status:under review
  • 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.

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Author:Veronika Grimm, Julia Grübel, Martin Schmidt, Alexandra Schwartz, Ann-Kathrin Wiertz, Gregor Zöttl
Document Type:Preprint
Language:English
Date of Publication (online):2023/11/13
Release Date:2023/11/13
Tag:Gas markets; Market power; Multilevel optimization; Reformulations
Page Number:26
Institutes:Friedrich-Alexander-Universität Erlangen-Nürnberg
Universität Trier
Subprojects:B08
B09
Licence (German):License LogoCreative Commons - CC BY - Namensnennung 4.0 International