Friedrich-Alexander-Universität Erlangen-Nürnberg
Refine
Year of publication
- 2023 (1)
Language
- English (1)
Has Fulltext
- yes (1)
Keywords
- Gas markets (1) (remove)
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.