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Competitive Electricity Markets

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Competitive Electricity Markets

Competitive Electricity Markets Book
Author : Fereidoon P. Sioshansi
Publisher : Elsevier
Release : 2011-10-10
ISBN : 9780080557717
Language : En, Es, Fr & De

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Book Description :

After 2 decades, policymakers and regulators agree that electricity market reform, liberalization and privatization remains partly art. Moreover, the international experience suggests that in nearly all cases, initial market reform leads to unintended consequences or introduces new risks, which must be addressed in subsequent “reform of the reforms. Competitive Electricity Markets describes the evolution of the market reform process including a number of challenging issues such as infrastructure investment, resource adequacy, capacity and demand participation, market power, distributed generation, renewable energy and global climate change. Sequel to Electricity Market Reform: An International Perspective in the same series published in 2006 Contributions from renowned scholars and practitioners on significant electricity market design and implementation issues Covers timely topics on the evolution of electricity market liberalization worldwide

Valuation Hedging and Speculation in Competitive Electricity Markets

Valuation  Hedging and Speculation in Competitive Electricity Markets Book
Author : Petter L. Skantze,Marija Ilic
Publisher : Springer Science & Business Media
Release : 2012-12-06
ISBN : 146151701X
Language : En, Es, Fr & De

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Book Description :

The challenges currently facing particIpants m competitive electricity markets are unique and staggering: unprecedented price volatility, a crippling lack of historical market data on which to test new modeling approaches, and a continuously changing regulatory structure. Meeting these challenges will require the knowledge and experience of both the engineering and finance communities. Yet the two communities continue to largely ignore each other. The finance community believes that engineering models are too detailed and complex to be practically applicable in the fast changing market environment. Engineers counter that the finance models are merely statistical regressions, lacking the necessary structure to capture the true dynamic properties of complex power systems. While both views have merit, neither group has by themselves been able to produce effective tools for meeting industry challenges. The goal of this book is to convey the fundamental differences between electricity and other traded commodities, and the impact these differences have on valuation, hedging and operational decisions made by market participants. The optimization problems associated with these decisions are formulated in the context of the market realities of today's power industry, including a lack of liquidity on forward and options markets, limited availability of historical data, and constantly changing regulatory structures.

Pricing in Competitive Electricity Markets

Pricing in Competitive Electricity Markets Book
Author : Ahmad Faruqui,Kelly Eakin
Publisher : Springer Science & Business Media
Release : 2012-12-06
ISBN : 1461545293
Language : En, Es, Fr & De

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Book Description :

Electricity markets are being deregulated or face new regulatory frameworks. In such changing markets, new pricing strategies will need to consider such factors as cost, value of service and pricing by objective. Pricing in Competitive Electricity Markets introduces a new family of pricing concepts, methodologies, models, tools and databases focused on market-based pricing. This book reviews important theoretical pricing issues as well as practical pricing applications for changing electricity markets.

Competitive Electricity Markets and Sustainability

Competitive Electricity Markets and Sustainability Book
Author : François Lévêque
Publisher : Edward Elgar Publishing
Release : 2007-01-01
ISBN : 184720435X
Language : En, Es, Fr & De

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Book Description :

This book responds to the opening up of electricity markets to competition, which has completely changed the nature of power generation. The building of new generation and transmission capacity and the setting of the energy mix between nuclear, gas and renewable resources are mainly left to private initiative and investors. The authors and the editor of this book explore whether or not market forces offer a sustainable future for electricity generation. They employ economic theory and method to answer questions such as: Will the market be able to ensure adequacy of generation capacity and secu.

Competitive Electricity Markets

Competitive Electricity Markets Book
Author : Wladyslaw Mielczarski,G. Michalik
Publisher : Nova Science Pub Incorporated
Release : 1998
ISBN : 0987650XXX
Language : En, Es, Fr & De

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Book Description :

Comprises 16 contributions prepared by researchers, economists, and engineers involved in assessing market reforms to the electricity supply industry in the state of Victoria, Australia. The introduction offers historical background to the market reforms and describes the wholesale electricity market. Subsequent sections address electricity market regulations; experiences in trading electrical energy; electricity contracts and prices; and the structure and operation of the national electricity market. Annotation copyrighted by Book News, Inc., Portland, OR

Electricity Market Reform

Electricity Market Reform Book
Author : Fereidoon P. Sioshansi,Wolfgang Pfaffenberger
Publisher : Elsevier
Release : 2006-04-13
ISBN : 9780080462714
Language : En, Es, Fr & De

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Book Description :

Since the late 1980s, policy makers and regulators in a number of countries have liberalized, restructured or “deregulated their electric power sector, typically by introducing competition at the generation and retail level. These experiments have resulted in vastly different outcomes - some highly encouraging, others utterly disastrous. However, many countries continue along the same path for a variety of reasons. Electricity Market Reform examines the most important competitive electricity markets around the world and provides definitive answers as to why some markets have performed admirably, while others have utterly failed, often with dire financial and cost consequences. The lessons contained within are direct relevance to regulators, policy makers, the investment community, industry, academics and graduate students of electricity markets worldwide. Covers electicity market liberalization and deregulation on a worldwide scale Features expert contributions from key people within the electricity sector

Competitive Electricity Markets The Power of Choice

Competitive Electricity Markets  The Power of Choice Book
Author : Joseph L. Welch, PE,C. J. Bolling, PhD
Publisher : Lulu.com
Release : 2009
ISBN : 0557160170
Language : En, Es, Fr & De

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Book Description :

Critique of the US Electricity Industry. Analysis of derailed industry deregulation initiatives. Sketches a new, competitively structured Energy Policy Template.

Retail Service Design in Evolving Competitive Electricity Markets

Retail Service Design in Evolving Competitive Electricity Markets Book
Author : Putnam, Hayes & Bartlett,Electric Power Research Institute,Electricité de France (EdF)
Publisher : Unknown
Release : 1996
ISBN : 0987650XXX
Language : En, Es, Fr & De

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Book Description :

Download Retail Service Design in Evolving Competitive Electricity Markets book written by Putnam, Hayes & Bartlett,Electric Power Research Institute,Electricité de France (EdF), available in PDF, EPUB, and Kindle, or read full book online anywhere and anytime. Compatible with any devices.

Designing Competitive Electricity Markets

Designing Competitive Electricity Markets Book
Author : Hung-po Chao,Hillard G. Huntington
Publisher : Springer Science & Business Media
Release : 2013-12-01
ISBN : 1461555477
Language : En, Es, Fr & De

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Book Description :

The authors are prominent economists, operation researchers, and engineers who have been instrumental in the development of the conceptual framework for electric power restructuring both in the United States and in other countries. Rather than espousing a particular market design for the industry's future, each author focuses on an important issue or set of issues and tries to frame the questions for designing electricity markets using an international perspective. The book focuses on the economic and technical questions important in understanding the industry's long-term development rather than providing immediate answers for the current political debates on industry competition.

Price Based Energy Management in Competitive Electricity Markets

Price Based Energy Management in Competitive Electricity Markets Book
Author : Hamid R. Zareipour
Publisher : VDM Publishing
Release : 2008-01-01
ISBN : 9783836455800
Language : En, Es, Fr & De

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Book Description :

Download Price Based Energy Management in Competitive Electricity Markets book written by Hamid R. Zareipour, available in PDF, EPUB, and Kindle, or read full book online anywhere and anytime. Compatible with any devices.

Modelling Prices in Competitive Electricity Markets

Modelling Prices in Competitive Electricity Markets Book
Author : Derek W Bunn,Derek W. Bunn
Publisher : John Wiley & Sons Incorporated
Release : 2004-04-02
ISBN : 0987650XXX
Language : En, Es, Fr & De

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Book Description :

Electricity markets are structurally different to other commodities, and the real-time dynamic balancing of the electricity network involves many external factors. Because of this, it is not a simple matter to transfer conventional models of financial time series analysis to wholesale electricity prices. The rationale for this compilation of chapters from international authors is, therefore, to provide econometric analysis of wholesale power markets around the world, to give greater understanding of their particular characteristics, and to assess the applicability of various methods of price modelling. Researchers and professionals in this sector will find the book an invaluable guide to the most important state-of-the-art modelling techniques which are converging to define the special approaches necessary for unravelling and forecasting the behaviour of electricity prices. It is a high-quality synthesis of the work of financial engineering, industrial economics and power systems analysis, as they relate to the behaviour of competitive electricity markets.

Fundamentals of Power System Economics

Fundamentals of Power System Economics Book
Author : Daniel S. Kirschen,Goran Strbac
Publisher : John Wiley & Sons
Release : 2018-09-24
ISBN : 111921324X
Language : En, Es, Fr & De

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Book Description :

A new edition of the classic text explaining the fundamentals of competitive electricity marketsnow updated to reflect the evolution of these markets and the large scale deployment of generation from renewable energy sources The introduction of competition in the generation and retail of electricity has changed the ways in which power systems function. The design and operation of successful competitive electricity markets requires a sound understanding of both power systems engineering and underlying economic principles of a competitive market. This extensively revised and updated edition of the classic text on power system economics explains the basic economic principles underpinning the design, operation, and planning of modern power systems in a competitive environment. It also discusses the economics of renewable energy sources in electricity markets, the provision of incentives, and the cost of integrating renewables in the grid. Fundamentals of Power System Economics, Second Edition looks at the fundamental concepts of microeconomics, organization, and operation of electricity markets, market participants strategies, operational reliability and ancillary services, network congestion and related LMP and transmission rights, transmission investment, and generation investment. It also expands the chapter on generation investmentsdiscussing capacity mechanisms in more detail and the need for capacity markets aimed at ensuring that enough generation capacity is available when renewable energy sources are not producing due to lack of wind or sun. Retains the highly praised first editions focus and philosophy on the principles of competitive electricity markets and application of basic economics to power system operating and planning Includes an expanded chapter on power system operation that addresses the challenges stemming from the integration of renewable energy sources Addresses the need for additional flexibility and its provision by conventional generation, demand response, and energy storage Discusses the effects of the increased uncertainty on system operation Broadens its coverage of transmission investment and generation investment Supports self-study with end-of-chapter problems and instructors with solutions manual via companion website Fundamentals of Power System Economics, Second Edition is essential reading for graduate and undergraduate students, professors, practicing engineers, as well as all others who want to understand how economics and power system engineering interact.

Electricity Markets

Electricity Markets Book
Author : Jeremy Lin,Fernando H. Magnago
Publisher : John Wiley & Sons
Release : 2017-10-09
ISBN : 1119179351
Language : En, Es, Fr & De

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Book Description :

A comprehensive resource that provides the basic concepts of electric power systems, microeconomics, and optimization techniques Electricity Markets: Theories and Applications offers students and practitioners a clear understanding of the fundamental concepts of the economic theories, particularly microeconomic theories, as well as information on some advanced optimization methods of electricity markets. The authors—noted experts in the field—cover the basic drivers for the transformation of the electricity industry in both the United States and around the world and discuss the fundamentals of power system operation, electricity market design and structures, and electricity market operations. The text also explores advanced topics of power system operations and electricity market design and structure including zonal versus nodal pricing, market performance and market power issues, transmission pricing, and the emerging problems electricity markets face in smart grid and micro-grid environments. The authors also examine system planning under the context of electricity market regime. They explain the new ways to solve problems with the tremendous amount of economic data related to power systems that is now available. This important resource: Introduces fundamental economic concepts necessary to understand the operations and functions of electricity markets Presents basic characteristics of power systems and physical laws governing operation Includes mathematical optimization methods related to electricity markets and their applications to practical market clearing issues Electricity Markets: Theories and Applications is an authoritative text that explores the basic concepts of the economic theories and key information on advanced optimization methods of electricity markets.

Financial Methods in Competitive Electricity Markets

Financial Methods in Competitive Electricity Markets Book
Author : Shijie Deng
Publisher : Unknown
Release : 1999
ISBN : 0987650XXX
Language : En, Es, Fr & De

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Book Description :

Download Financial Methods in Competitive Electricity Markets book written by Shijie Deng, available in PDF, EPUB, and Kindle, or read full book online anywhere and anytime. Compatible with any devices.

On the Efficiency of Competitive Electricity Markets with Time invariant Retail Prices

On the Efficiency of Competitive Electricity Markets with Time invariant Retail Prices Book
Author : Severin Borenstein,Stephen P. Holland
Publisher : Unknown
Release : 2003
ISBN : 0987650XXX
Language : En, Es, Fr & De

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Book Description :

The standard economic model of efficient competitive markets relies on the ability of sellers to charge prices that vary as their costs change. Yet, there is no restructured electricity market in which most retail customers can be charged realtime prices (RTP), prices that can change as frequently as wholesale costs. We analyze the impact of having some share of customers on time-invariant pricing in competitive electricity markets. Not only does time-invariant pricing in competitive markets lead to outcomes (prices and investment) that are not first-best, it even fails to achieve the second-best optimum given the constraint of time-invariant pricing. We then show that attempts to correct the level of investment through taxes or subsidies on electricity or capacity are unlikely to succeed, because these interventions create new inefficiencies. In contrast, increasing the share of customers on RTP is likely to improve efficiency, though surprisingly, it does not necessarily reduce capacity investment, and it is likely to harm customers that are already on RTP

Competitive Electricity Markets Prices and Generator Entry and Exit

Competitive Electricity Markets  Prices and Generator Entry and Exit Book
Author : Robert G. Ethier
Publisher : Unknown
Release : 1999
ISBN : 0987650XXX
Language : En, Es, Fr & De

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Book Description :

The electric power industry in the United States is quickly being deregulated and restructured. In the past, new electric generation capacity was added by regulated utilities to meet forecasted demand levels and maintain reserve margins. With competitive wholesale generation, investment will be the responsibility of independent private investors. Electricity prices will assume the coordinating function which has until recently been the responsibility of regulatory agencies. Competitive prices will provide the entry and exit signals for generators in the future.

Learning from the Blackouts

Learning from the Blackouts Book
Author : Anonim
Publisher : Unknown
Release : 2005
ISBN : 9789264109605
Language : En, Es, Fr & De

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Book Description :

Download Learning from the Blackouts book written by , available in PDF, EPUB, and Kindle, or read full book online anywhere and anytime. Compatible with any devices.

Mathematical Modelling of Contemporary Electricity Markets

Mathematical Modelling of Contemporary Electricity Markets Book
Author : Athanasios Dagoumas
Publisher : Academic Press
Release : 2021-01-29
ISBN : 0128218398
Language : En, Es, Fr & De

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Book Description :

Mathematical Modelling of Contemporary Electricity Markets reviews major methodologies and tools to accurately analyze and forecast contemporary electricity markets in a ways that is ideal for practitioner and academic audiences. Approaches include optimization, neural networks, genetic algorithms, co-optimization, econometrics, E3 models and energy system models. The work examines how new challenges affect power market modeling, including discussions of stochastic renewables, price volatility, dynamic participation of demand, integration of storage and electric vehicles, interdependence with other commodity markets and the evolution of policy developments (market coupling processes, security of supply). Coverage addresses all major forms of electricity markets: day-ahead, forward, intraday, balancing, and capacity. Provides a diverse body of established techniques suitable for modeling any major aspect of electricity markets Familiarizes energy experts with the quantitative skills needed in competitive electricity markets Reviews market risk for energy investment decisions by stressing the multi-dimensionality of electricity markets

Electricity Markets

Electricity Markets Book
Author : Chris Harris
Publisher : John Wiley & Sons
Release : 2011-01-31
ISBN : 1119995132
Language : En, Es, Fr & De

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Book Description :

Understand the electricity market, its policies and how they drive prices, emissions, and security, with this comprehensive cross-disciplinary book. Author Chris Harris includes technical and quantitative arguments so you can confidently construct pricing models based on the various fluctuations that occur. Whether you?re a trader or an analyst, this book will enable you to make informed decisions about this volatile industry.

Electricity Market Reforms

Electricity Market Reforms Book
Author : Lev S. Belyaev
Publisher : Springer Science & Business Media
Release : 2010-10-17
ISBN : 9781441956125
Language : En, Es, Fr & De

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Book Description :

With the global demand for energy skyrocketing, over the past twenty years many countries have restructured their electric power industries, typically moving from a regulated monopoly to a competitive market structure. The results of these reforms vary significantly from country to country depending on the market organization model and national conditions. This book examines the restructuring in both developed and developing nations, with particular focus on the United States, Great Britain, China, and Russia, and addresses the problems arising from these transitions. The book also contains a comprehensive analysis of different electricity market models and their compatibility with the properties of electric power systems and country conditions. As the most thorough and up to date analysis of the theory and practical experience of electricity deregulation, this book is a must-read for academics, students and researchers with an interest in electric power industry restructuring. It also has direct relevance for engineers, regulators and other decision makers in companies and governmental agencies concerned with energy issues.