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Electricity Marginal Cost Pricing

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Electricity Marginal Cost Pricing

Electricity Marginal Cost Pricing Book
Author : Monica Greer
Publisher : Elsevier
Release : 2012-03-13
ISBN : 0123854660
Language : En, Es, Fr & De

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Book Description :

Packed with case studies and practical real-world examples, Electricity Marginal Cost Pricing Principles allows regulators, engineers and energy economists to choose the pricing model that best fits their individual market. Written by an author with 13 years of practical experience, the book begins with a clear and rigorous explanation of the theory of efficient pricing and how it impacts investor-owned, publicly-owned, and cooperatively-owned utilities using tried and true methods such as multiple-output, functional form, and multiproduct cost models. The author then moves on to include self-contained chapters on applying estimating cost models, including a cubic cost specification and policy implications while supplying actual data and examples to allow regulators, energy economists, and engineers to get a feel for the methods with which efficient prices are derived in today’s challenging electricity market. A guide to cost issues surrounding the generation, transmission, and distribution of electricity Clearly explains cost models which can yield the marginal cost of supplying electricity to end-users Real-world examples that are practical, meaningful, and easy to understand Explans the policy implications of each example Provide suggestions to aid in the formation of the optimal market price

Optimal Pricing and Investment in Electricity Supply

Optimal Pricing and Investment in Electricity Supply Book
Author : Ralph Turvey
Publisher : Routledge
Release : 2017-09-05
ISBN : 1351386395
Language : En, Es, Fr & De

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Book Description :

Originally published in 1968, this book was one of the first full-scale published studies of the principles of investment planning and of the structure of marginal costs in a public enterprise. The concepts involved were more developed and applied in the world's electricity industries than elsewhere, and this book will be of interest to both engineers and administrators who are concerned with electricity supply, by setting out the characteristics of investment planning in this sector and the implications for cost analysis.

The Marginal Cost and Pricing of Electricity

The Marginal Cost and Pricing of Electricity Book
Author : Charles J. Cicchetti,William J. Gillen,Paul Smolensky
Publisher : Unknown
Release : 1977
ISBN : 0987650XXX
Language : En, Es, Fr & De

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Book Description :

Download The Marginal Cost and Pricing of Electricity book written by Charles J. Cicchetti,William J. Gillen,Paul Smolensky, available in PDF, EPUB, and Kindle, or read full book online anywhere and anytime. Compatible with any devices.

Electricity Cost Modeling Calculations

Electricity Cost Modeling Calculations Book
Author : Monica Greer
Publisher : Academic Press
Release : 2021-09-10
ISBN : 0128213728
Language : En, Es, Fr & De

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Book Description :

Reducing greenhouse gases and increasing the use of renewable energy continue to be critical goals for the power industry and electrical engineers to promote energy cost reductions. Engineers and researchers must keep up to date with the evolution of the power system sector, new energy regulations, and how different pricing techniques apply in today’s market. Electricity Cost Modeling Calculations, Second Edition delivers an updated view on pricing models, regulation, technology and the role renewable energy is starting to take in electricity. Starting with fundamental concepts relating to market structure, an increase in international regulations is added to expand the engineer’s knowledge. Cubic cost modeling and new modeling cases are included along with updated literature reviews for deeper research. The reference then extends into more advanced quantitative methods such as updated rate designs, and a new chapter is included on the marginal cost pricing of electricity in the United States with applications to reduce greenhouse gas emissions, making the reference relevant for today’s power markets. This book provides engineers with a practical guide on the latest techniques in electricity pricing and applications for today’s markets. Provides updates on international regulations and the role of renewable energy sources Presents foundational concepts and advanced quantitative aspects including updated practical case studies Discusses the appropriate rate/tariff structure for more efficient use of electricity and renewable options

Spot Pricing of Electricity

Spot Pricing of Electricity Book
Author : Fred C. Schweppe,Michael C. Caramanis,Richard D. Tabors,Roger E. Bohn
Publisher : Springer Science & Business Media
Release : 2013-03-07
ISBN : 1461316839
Language : En, Es, Fr & De

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Book Description :

There is a need for fundamental changes in the ways society views electric energy. Electric energy must be treated as a commodity which can be bought, sold, and traded, taking into account its time-and space-varying values and costs. This book presents a complete framework for the establishment of such an energy marketplace. The framework is based on the use of spot prices. In general terms: o An hourly spot price (in dollars per kilowatt hour) reflects the operating and capital costs of generating, transmitting and distributing electric energy. It varies each hour and from place to place. o The spot price based energy marketplace involves a variety of utility-customer transactions (ranging from hourly varying prices to long-term, multiple-year contracts), all of which are based in a consistent manner on hourly spot prices. These transactions may include customers selling to, as well as buying from, the utility. The basic theory and practical implementation issues associated with a spot price based energy marketplace have been developed and discussed through a number of different reports, theses, and papers. Each addresses only a part of the total picture, and often with a somewhat different notation and terminology (which has evolved in parallel with our growing experience). This book was xvii xviii Preface written to serve as a single, integrated sourcebook on the theory and imple mentation of a spot price based energy marketplace.

Electricity Marginal Cost Pricing

Electricity Marginal Cost Pricing Book
Author : Monica Greer
Publisher : Elsevier
Release : 2012-02-02
ISBN : 0123851343
Language : En, Es, Fr & De

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Book Description :

Packed with case studies and practical real-world examples, Electricity Marginal Cost Pricing Principles allows regulators, engineers and energy economists to choose the pricing model that best fits their individual market. Written by an author with 13 years of practical experience, the book begins with a clear and rigorous explanation of the theory of efficient pricing and how it impacts investor-owned, publicly-owned, and cooperatively-owned utilities using tried and true methods such as multiple-output, functional form, and multiproduct cost models. The author then moves on to include self-contained chapters on applying estimating cost models, including a cubic cost specification and policy implications while supplying actual data and examples to allow regulators, energy economists, and engineers to get a feel for the methods with which efficient prices are derived in today's challenging electricity market. A guide to cost issues surrounding the generation, transmission, and distribution of electricity Clearly explains cost models which can yield the marginal cost of supplying electricity to end-users Real-world examples that are practical, meaningful, and easy to understand Explans the policy implications of each example Provide suggestions to aid in the formation of the optimal market price

Marginal Cost Pricing in Practice

Marginal Cost Pricing in Practice Book
Author : James R. Nelson
Publisher : Unknown
Release : 1964
ISBN : 0987650XXX
Language : En, Es, Fr & De

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Book Description :

Download Marginal Cost Pricing in Practice book written by James R. Nelson, available in PDF, EPUB, and Kindle, or read full book online anywhere and anytime. Compatible with any devices.

Pricing in Competitive Electricity Markets

Pricing in Competitive Electricity Markets Book
Author : Ahmad Faruqui,Kelly Eakin
Publisher : Springer Science & Business Media
Release : 2000-05-31
ISBN : 9780792378396
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.

Electricity Pricing

Electricity Pricing Book
Author : Mohan Munasinghe,Jeremy J. Warford
Publisher : Johns Hopkins University Press
Release : 1982
ISBN : 0987650XXX
Language : En, Es, Fr & De

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Book Description :

The rapidly increasing cost of electric power in recent years has brought about a growing awareness of the importance of pricing policies in maximizing the net economic benefits of consumption and avoiding waste. Although the theoretical principles governing optimal pricing strategies have long been understood, their practical application to the energy sector in general, and to electric power in particular, has not been seriously pursued until recently. Increasing unit costs, however, have provided the stimulus for a change in approach, and there is now a good deal of evidence that marginal cost pricing is becoming accepted as an important criterion that should be considered in determining electric power tariffs. The book contains a summary of the economic principles underlying marginal cost pricing for electric power, and emphasizes the importance of the adjustments that need to be made to the strict long-run marginal costs (LRMC) to reflect the various economic, social, and engineering objectives and constraints that are actually faced by policymakers in the energy sector. The book also consists of case studies that follow a two-stage procedure in which the LRMC of electric power is used to weigh the costs and benefits of other policy objectives that might be addressed through the medium of power pricing. LRMC is therefore treated largely as a benchmark by which other economic and social objectives may be consciously judged.

Transport Pricing of Electricity Networks

Transport Pricing of Electricity Networks Book
Author : Francosi Leveque
Publisher : Springer Science & Business Media
Release : 2003-05-31
ISBN : 9781402074554
Language : En, Es, Fr & De

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Book Description :

Transport Pricing of Electricity Networks aims at providing a methodological and practical transmission tariff guide, to those who are involved in the electricity business as managers, engineers, lawyers, economists, regulators or policy-makers, but are not specialists in electricity transport, nor in tariff-setting for public utilities. It offers a synthesis of the recent economic research on the subject. The volume is divided into three major parts, each presenting a general aspect of transmission pricing: its legal and accounting background, its basic theory, and its implementation, successively. How much does it cost to transmit electricity from a nuclear plant close to Lyon in France, to a car manufacturer located in Stuttgart in Germany? What price should a system operator in Canada charge a pulp and paper mill that uses the high-voltage grid for only a few weeks per year? Where in California is it more profitable to reinforce or build a new transmission line? What is the best place to locate a power gas station in England, in order to pay the lowest transmission cost? Such questions are novel and crucial for American and European liberalised electricity markets. Transport Pricing of Electricity Networks shows how the economics toolbox can be used to answer them.

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.

Pricing by User Class

Pricing by User Class Book
Author : James Paul Bell
Publisher : Unknown
Release : 1978
ISBN : 0987650XXX
Language : En, Es, Fr & De

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Book Description :

Download Pricing by User Class book written by James Paul Bell, available in PDF, EPUB, and Kindle, or read full book online anywhere and anytime. Compatible with any devices.

Electricity Prices in a Competitive Environment

Electricity Prices in a Competitive Environment Book
Author : United States. Energy Information Administration
Publisher : Unknown
Release : 1997
ISBN : 0987650XXX
Language : En, Es, Fr & De

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Book Description :

Download Electricity Prices in a Competitive Environment book written by United States. Energy Information Administration, available in PDF, EPUB, and Kindle, or read full book online anywhere and anytime. Compatible with any devices.

Electricity Economics

Electricity Economics Book
Author : Ralph Turvey,Dennis Anderson,World Bank
Publisher : Johns Hopkins University Press
Release : 1977
ISBN : 0987650XXX
Language : En, Es, Fr & De

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Book Description :

Although economists have discussed for many years the merits of relating prices to the marginal or incremental costs of supply in electrical utilities, the idea of marginal cost pricing has yet to gain the confidence of the engineers, accountants, financial analysts, and administrators who run and regulate the industry. Many do not understand marginal cost pricing, and most hold notions about the aims and equity of tariffs that differ markedly from those of economists. This book applies economic analysis to electricity pricing in a practical way. It offers a number of case studies that analyze the structure of marginal costs and translate them into possible tariffs. The authors accept the importance of revenue requirements and of equity in tariff making, but they also stress the importance of efficient allocation of resources. Tariffs can, as this book demonstrates, invariably be made more efficient than they are at present while still satisfying both revenue requirements and equity considerations. The authors include a survey of the appraisal of rural electrification projects. They also examine optimal techniques for planning entire systems and provide a number of theoretical studies on pricing and investment including a discussion on risk and indivisibilities.

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.

Locational Marginal Pricing LMP in Electricity Markets

Locational Marginal Pricing  LMP  in Electricity Markets Book
Author : Zuyi Li
Publisher : Wiley-IEEE Press
Release : 2016-09-06
ISBN : 9781118359426
Language : En, Es, Fr & De

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Book Description :

Presents a detailed and in-depth introduction to the economic and technical foundations of modern electricity markets operating with locational marginal price (LMP). Based on the author’s graduate-level course and written to fill the gap in the market for a book that not only describes the fundamentals of LMP but also the most up-to-date research. It analyses the planning and operation of an electricity markets cleared through locational marginal prices (LMPs). Microeconomic background is provided, also a number of decision-making models relevant for electricity market operations and for long-term planning. These models are related to the market operator and to the market agents. After an introduction to power system economics and market operations, the book covers the fundamentals in Microeconomics in Chapter Two. Power market architecture and the fundamentals of locational marginal price (LMP) are presented in detail next. Chapter Five discusses advanced models for LMP. Market power and bidding strategy is looked at in the middle of the book, then LMP in practices. The last chapter covers market-based integrated planning for generation and transmission. Presents a detailed and in-depth introduction to the economic and technical foundations of modern electricity markets operating with locational marginal price (LMP), the key to understanding today’s market operation Covers the important topics of transmissions and financial transmission rights (FTR), planning issues, and the relation to renewable sources Includes various illustrative examples and end-of-chapter problems for use as homework exercises Companion website holds a link to the author’s own page which includes further research in power markets and LMP, class projects, MATLAB code and an solutions manual Essential reading for Senior undergraduate students and graduate students in electrical power engineering, smart grid and renewable energy, as well as Professionals, practicing engineers and analysts in power utilities and independent system operators (ISO) who would like to understand how LMPs are calculated.

The Rand Paper Series

The Rand Paper Series Book
Author : Anonim
Publisher : Unknown
Release : 2023-02-01
ISBN : 0987650XXX
Language : En, Es, Fr & De

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Book Description :

Download The Rand Paper Series book written by , available in PDF, EPUB, and Kindle, or read full book online anywhere and anytime. Compatible with any devices.

Electricity Markets and Power System Economics

Electricity Markets and Power System Economics Book
Author : Deqiang Gan,Donghan Feng,Jun Xie
Publisher : CRC Press
Release : 2013-11-12
ISBN : 1466501693
Language : En, Es, Fr & De

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Book Description :

After the first power plant in history was commissioned for commercial operation by Thomas Edison on Pearl Street in New York in 1882, electricity was sold as a consumer product at market prices. After a period of rapid development, electricity had become such a fundamental product that regulation was believed to be necessary. Since then, the power industry had been considered a natural monopoly and undergone periods of tight regulation. Deregulation started in the early 1980s and as a result, most developed countries run their power industries using a market approach. With the theories and rules of electricity markets developing rapidly, it is often difficult for beginners to start learning and difficult for those in the field to keep up. Bringing together information previously scattered among various journals and scholarly articles, Electricity Markets and Power System Economics provides a comprehensive overview of the current state of development in the electricity market. It introduces the fundamental principles of power system operation so that even those with a basic understanding can benefit from the book. The book includes a series of consistent mathematical models of market operation of power systems, and original cases with solutions. Systematically describing the basic building blocks of electricity market theory, the book provides a guide to underlying theory and mainstream market rules.

Electricity Deregulation

Electricity Deregulation Book
Author : James M. Griffin,Steven L. Puller
Publisher : University of Chicago Press
Release : 2009-11-15
ISBN : 0226308588
Language : En, Es, Fr & De

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Book Description :

The electricity market has experienced enormous setbacks in delivering on the promise of deregulation. In theory, deregulating the electricity market would increase the efficiency of the industry by producing electricity at lower costs and passing those cost savings on to customers. As Electricity Deregulation shows, successful deregulation is possible, although it is by no means a hands-off process—in fact, it requires a substantial amount of design and regulatory oversight. This collection brings together leading experts from academia, government, and big business to discuss the lessons learned from experiences such as California's market meltdown as well as the ill-conceived policy choices that contributed to those failures. More importantly, the essays that comprise Electricity Deregulation offer a number of innovative prescriptions for the successful design of deregulated electricity markets. Written with economists and professionals associated with each of the network industries in mind, this comprehensive volume provides a timely and astute deliberation on the many risks and rewards of electricity deregulation.

Real Time Pricing and Deregulating the Electricity Market

Real Time Pricing and Deregulating the Electricity Market Book
Author : David Leinweber,Rand Corporation
Publisher : Unknown
Release : 1980
ISBN : 0987650XXX
Language : En, Es, Fr & De

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Book Description :

Real-time pricing of electricity may result in major efficiency improvements in the consumption and production of electric power. It can be realized by using current microelectronic technology to implement a dynamic power marketplace, with low entrance barriers and adaptive pricing reflecting the marginal costs of generation. A complex and interrelated set of technical, political, economic, and regulatory questions surround the notion of real-time pricing of electricity. They are briefly outlined in this paper. A current bibliography of material relevant to these studies is also included. (Author).