Models of Imperfect Competition in Analysis of Siberian Electricity Market

The authors consider mechanisms of organizing auctions in the electricity market that are based on submitting bids of energy consumers and offers of energy producers to the market operator. The authors discuss and compare possible strategies of energy generators’ behavior that lead to different equilibrium situations such as Cournot model, supply function equilibrium, and perfectly competitive equilibrium. The mechanisms are tested on the basis of the Siberian electric power system.