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Received August 26, 2022; Accepted November 30, 2022; Published March 13, 2023
Abstract. The European gas market is governed by rules that are agreed on by the European Union. We present a mathematical market model that takes into account this structure, where the technical system operator (TSO) offers certain transportation capacities that can be booked and later nominated within the previously chosen bookings. The TSO also fixes booking fees and defines an operational control of the gas pipeline system in order to deliver the gas according to the nominations. Since the gas flow is governed by a system of partial differential equations, to realize this control structure partial differential equations (PDEs) should be involved in the model. While the four level gas market model has been discussed previously, in this paper we take into account the flow model by PDEs in the discussion of the model and in the reduction to a single level problem, where we also state the corresponding necessary optimality conditions. We also present some examples for the optimal control problem of the TSO.
How to Cite this Article:
Martin Gugat, Michael Schuster, Sonja Steffensen, A dynamic multilevel model of the European gas market, Commun. Optim. Theory 2023 (2023) 11.