INCOME OPTIMIZATION OF MARKET PARTICIPANTS IN THE DAY AHEAD MARKET BY MODELING OF PROCESSES OF PRICE DETERMINATION FOR DAY AHEAD MARKET

V.A. Evdokimov, A.V. Polykhin

Èlektron. model. 2022, 44(4):121-129

https://doi.org/10.15407/emodel.44.04.121

ABSTRACT

The article examines the problem of price determination in the market for the day ahead (DAM) the problem of determining prices in their bids by market participants, which has a significant impact on the economic condition of such market participants, and market strategy directly affects the welfare of the market as a whole. The simulation model and the modeling process are described as a conceptual approach to determining prices and volumes, which affects the work of DAM participants. The modeling of the processes of determining the price position of market participants — sellers on the DAM within the limits of a computer model was studied. There is an objective need to develop an appropriate information system for the Ukrainian market, which is intended to help market participants in making decisions about determining prices in applications for the DAM auction, as well as to improve the economic indicators of enterprises in the economic sector.

KEYWORDS

day ahead market, optimization, computer modelling, bid price.

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