A General Equilibrium Analysis of Retail Market Design in Electricity

This paper develops a general equilibrium model to evaluate the efficiency of retail market design in electricity markets. By integrating supply-side shocks and consumer preferences into a unified framework, we examine how market outcomes respond to policy design. The model captures the interaction between wholesale and retail electricity prices, accounting for risk hedging, uncertainty, and contract structures. We implement a numerical simulation calibrated to realistic market parameters to analyze price distortions and welfare implications. Our results demonstrate that retail design significantly affects price signals and hedge incentives, especially under renewable integration and network congestion. The paper highlights the importance of equilibrium-based approaches for retail policy evaluation.

کلیدواژه ها:

Retail Market Design ، Electricity Markets ، General Equilibrium ، Risk Hedging ، Price Efficiency