Spot Pricing Of Electricity

Author : Fred C. Schweppe,Michael C. Caramanis,Richard D. Tabors,Roger E. Bohn
Publisher : Springer Science & Business Media
Page : 362 pages
File Size : 50,8 Mb
Release : 2013-03-07
Category : Business & Economics
ISBN : 9781461316831

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Spot Pricing of Electricity by Fred C. Schweppe,Michael C. Caramanis,Richard D. Tabors,Roger E. Bohn Pdf

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.

Author : Ahmad Faruqui,Kelly Eakin
Publisher : Springer Science & Business Media
Page : 372 pages
File Size : 46,5 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9781461508335

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Electricity Pricing in Transition by Ahmad Faruqui,Kelly Eakin Pdf

Electricity Pricing In Transition is written to address the new issues facing utilities, retailers, regulators, and customers in the changing electricity market. It is organized into five sections. Section I deals with the new restructured organization that has emerged from yesterday's vertically integrated, regulated monopoly company. Section II deals with issues in competitive pricing. Section III reviews the role of demand response and product design in today's chaotic marketplace. Given the single importance of California's energy crisis and the fact that it will be studied for years to come, Section IV is devoted to studying the lessons learned from this crisis. The final section of the book deals with markets and regulations. This book will provide practitioners with guidance on how to avoid the major pitfalls in pricing electricity while the market is in transition by drawing upon the insights and lessons learned from the experience of others that are documented in this book.

Author : Ahmad Faruqui,Kelly Eakin
Publisher : Springer Science & Business Media
Page : 463 pages
File Size : 54,6 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9781461545293

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Pricing in Competitive Electricity Markets by Ahmad Faruqui,Kelly Eakin Pdf

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.

Author : Yumei Ning
Publisher : Unknown
Page : 286 pages
File Size : 45,8 Mb
Release : 2001
Category : Electronic
ISBN : CORNELL:31924090126529

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Modeling Spot Markets for Electricity and Pricing Electricity Derivatives by Yumei Ning Pdf

Author : Robert G. Ethier
Publisher : Unknown
Page : 300 pages
File Size : 54,6 Mb
Release : 1999
Category : Electronic
ISBN : CORNELL:31924085763435

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Competitive Electricity Markets, Prices and Generator Entry and Exit by Robert G. Ethier Pdf

Author : Darryl R. Biggar,Mohammad Reza Hesamzadeh
Publisher : John Wiley & Sons
Page : 432 pages
File Size : 45,8 Mb
Release : 2014-07-10
Category : Science
ISBN : 9781118775721

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The Economics of Electricity Markets by Darryl R. Biggar,Mohammad Reza Hesamzadeh Pdf

Bridges the knowledge gap between engineering and economics in a complex and evolving deregulated electricity industry, enabling readers to understand, operate, plan and design a modern power system With an accessible and progressive style written in straight-forward language, this book covers everything an engineer or economist needs to know to understand, operate within, plan and design an effective liberalized electricity industry, thus serving as both a useful teaching text and a valuable reference. The book focuses on principles and theory which are independent of any one market design. It outlines where the theory is not implemented in practice, perhaps due to other over-riding concerns. The book covers the basic modelling of electricity markets, including the impact of uncertainty (an integral part of generation investment decisions and transmission cost-benefit analysis). It draws out the parallels to the Nordpool market (an important point of reference for Europe). Written from the perspective of the policy-maker, the first part provides the introductory background knowledge required. This includes an understanding of basic economics concepts such as supply and demand, monopoly, market power and marginal cost. The second part of the book asks how a set of generation, load, and transmission resources should be efficiently operated, and the third part focuses on the generation investment decision. Part 4 addresses the question of the management of risk and Part 5 discusses the question of market power. Any power system must be operated at all times in a manner which can accommodate the next potential contingency. This demands responses by generators and loads on a very short timeframe. Part 6 of the book addresses the question of dispatch in the very short run, introducing the distinction between preventive and corrective actions and why preventive actions are sometimes required. The seventh part deals with pricing issues that arise under a regionally-priced market, such as the Australian NEM. This section introduces the notion of regions and interconnectors and how to formulate constraints for the correct pricing outcomes (the issue of "constraint orientation"). Part 8 addresses the fundamental and difficult issue of efficient transmission investment, and finally Part 9 covers issues that arise in the retail market. Bridges the gap between engineering and economics in electricity, covering both the economics and engineering knowledge needed to accurately understand, plan and develop the electricity market Comprehensive coverage of all the key topics in the economics of electricity markets Covers the latest research and policy issues as well as description of the fundamental concepts and principles that can be applied across all markets globally Numerous worked examples and end-of-chapter problems Companion website holding solutions to problems set out in the book, also the relevant simulation (GAMS) codes

Author : Sawan Sen,Samarjit Sengupta,Abhijit Chakrabarti
Publisher : CRC Press
Page : 244 pages
File Size : 45,6 Mb
Release : 2018-09-03
Category : Technology & Engineering
ISBN : 9781482251753

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Electricity Pricing by Sawan Sen,Samarjit Sengupta,Abhijit Chakrabarti Pdf

Electricity Pricing: Regulated, Deregulated and Smart Grid Systems presents proven methods for supplying uninterrupted, high-quality electrical power at a reasonable price to the consumer. Illustrating the evolution of the power market from a monopoly to an open access system, this essential text: Covers voltage stability analysis of longitudinal power supply systems using an artificial neural network (ANN) Explains how to improve performance using flexible alternating current transmission systems (FACTS) and high-voltage direct current (HVDC) Takes into account operating constraints as well as generation cost, line overload, and congestion for expected and inadvertent loading stress Goes beyond FACTS and HVDC to provide multi-objective optimization algorithms for the deregulated power market Proposes the use of stochastic optimization techniques in the smart grid, preparing the reader for future development Electricity Pricing: Regulated, Deregulated and Smart Grid Systems offers practical solutions for improving stability, reliability, and efficiency in real-time systems while optimizing electricity cost.

Author : Michael A. Einhorn,Riaz Siddiqi
Publisher : Springer Science & Business Media
Page : 289 pages
File Size : 43,9 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9789400918047

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Electricity Transmission Pricing and Technology by Michael A. Einhorn,Riaz Siddiqi Pdf

The electric utility industry and its stakeholders in the. United States appear to be at a critical juncture in time. Powerful forces of global proportions are propelling the industry instinctively and in a secular fashion towards restructuring. That the industry will change is a fait accomplii. The nature and timing of the change is still a matter of intense debate, however. Because of the evolution of the industry into its present-day form, i.e. regulated local monopolies in their designated franchise service territories, the relative roles and expectations of various institutions would have to change to conform to the new state in the future. In either encouraging, or allowing this change to happen, society is essentially saying that future societal welfare would be better served by the changed structure contemplated. What that assumption translates into in more direct terms is that creation of future wealth would be better accomplished through redistribution of wealth today. Thoughtful individuals recognize the enormous responsibility placed upon the various entities empowered with jurisdiction over the timing and nature of the structural change. They are trying hard to bring analytical rigor to bear on the debate. One very critical element of this debate on restructuring is the issue of the treatment of transmission. The issue has been variously labeled transmission access, or pricing. Volumes have been written and spoken on this topic.

Author : A.F. Kalverboer,A. Gramsbergen
Publisher : Springer Science & Business Media
Page : 282 pages
File Size : 54,6 Mb
Release : 2013-11-11
Category : Medical
ISBN : 9789401007108

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Electricity Transmission Pricing and Technology by A.F. Kalverboer,A. Gramsbergen Pdf

The electric utility industry and its stakeholders in the.United States appear to be at a critical juncture in time. Powerful forces of global proportions are propelling the industry instinctively and in a secular fashion towards restructuring. That the industry will change is a fait accomplii. The nature and timing of the change is still a matter of intense debate, however. Because of the evolution of the industry into its present-day form, i.e. regulated local monopolies in their designated franchise service territories, the relative roles and expectations of various institutions would have to change to conform to the new state in the future. In either encouraging, or allowing this change to happen, society is essentially saying that future societal welfare would be better served by the changed structure contemplated. What that assumption translates into in more direct terms is that creation of future wealth would be better accomplished through redistribution of wealth today. Thoughtful individuals recognize the enormous responsibility placed upon the various entities empowered with jurisdiction over the timing and nature of the structural change. They are trying hard to bring analytical rigor to bear on the debate. One very critical element of this debate on restructuring is the issue of the treatment of transmission. The issue has been variously labeled transmission access, or pricing. Volumes have been written and spoken on this topic.

Author : Fereidoon P. Sioshansi,Wolfgang Pfaffenberger
Publisher : Elsevier
Page : 688 pages
File Size : 53,7 Mb
Release : 2006-04-13
Category : Technology & Engineering
ISBN : 0080462715

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Electricity Market Reform by Fereidoon P. Sioshansi,Wolfgang Pfaffenberger Pdf

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

Author : Paul Breeze
Publisher : Elsevier
Page : 152 pages
File Size : 44,8 Mb
Release : 2021-02-28
Category : Technology & Engineering
ISBN : 9780128241974

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The Cost of Electricity by Paul Breeze Pdf

The Cost of Electricity is an essential tool for any researcher or practitioner seeking to establish the economic and environmental cost of power generation, and thereby to analyse the economic feasibility of power systems. Chapters cover capital cost, fuel cost, levelised cost, subsidies and tariffs, lifetime emission analysis, net energy analysis, traditional generation costs and renewable generation costs. The work is based on published analyses of generation costs and generation cost predictions from trusted organisations such as the US Energy Information Administration and the IEA. Chapters proceed in a logical manner through cost factors before concluding with the current and future cost of electricity generation. Analyses the factors that contribute to the cost of generating electricity together with the presentation of historical cost trends and predictions for future costs Examines the environmental cost of power generation by lifecycle analysis, including carbon emissions impact Reviews factors which distort the market cost of electricity

Author : Maria Andersson
Publisher : Linköping University Electronic Press
Page : 79 pages
File Size : 54,8 Mb
Release : 2020-04-14
Category : Electronic
ISBN : 9789178718979

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Cooperation in local electricity markets by Maria Andersson Pdf

This thesis presents a system analysis for co-operation in local electricity markets including distributors and customers. The purpose of co-operation is to minimise the system cost of local markets by introducing system measures, such as end-use measures and municipal co-generation plants. Co-operation will strengthen the position of local markets in the national as well as future international electricity markets. With end-use measures local markets will achieve flexibility, additional reserve capacity and ability to avoid sudden large costs for peak loads. Biomass-fired cogeneration plants can become of great importance in an international market. In Sweden there is a simultaneous demand for electricity and district heating, many local markets already include district heating systems and there are major forest areas which can contribute with renewable fuel. The system analysis is partly based on the simulation model (INDSIM) and the linear programming model (MODEST). The simulation model has been further developed (STRATO) to include calculation of system costs. Shadow price analysis has been developed in order to study incentives for system measures. Calculation procedures have been developed that describe cooperation between distributor and customer. Six case studies of a selection of real, existing local markets in Sweden are presented. The studies show the potential economical effects of co-operation measured by system costs and shadow prices. Co-operation has been considered between demand- and supply-side, electricity- and district heating systems and also between different time periods. In a typical local market with 90 000 inhabitants, if end use measures are introduced without cooperation the system cost of the distributor will increase by 14 million SEK for a time period of 25 years. If instead end-use measures are introduced in co-operation, together with a biomass-fired cogeneration plant, the system cost of the local market will be reduced by 444 million SEK. Furthermore, the use of biomass in the local market is increased from 36 to 72 % while the use of oil is decreased from 34 to 1%. Another case study of another local market (50 000 inhabitants) shows that end-use measures will reduce the system cost (excluding investment costs) of an industry by 50 % corresponding to 1.3 million SEK for one year. The end-use measures imply reduced power demand during peak load periods in the local market and increased power demand during non- peak load periods.

Author : Chris Harris
Publisher : John Wiley & Sons
Page : 550 pages
File Size : 48,9 Mb
Release : 2011-01-31
Category : Business & Economics
ISBN : 9781119995135

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Electricity Markets by Chris Harris Pdf

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.

Author : Michael A. Einhorn
Publisher : Springer Science & Business Media
Page : 286 pages
File Size : 42,6 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9789401113687

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From Regulation to Competition: New frontiers in electricity markets by Michael A. Einhorn Pdf

Electric utilities throughout the world continue to face new challenges involving ownership, market structure, and regulation. There are three related issues at hand. First, should ownership be private or public? Second, what operations should be integrated and where is competition feasible? Third, where is regulation necessary and can it be made more efficient? This volume bears directly upon these concerns. The book contains two sections. The first six articles discuss the British electricity experiment that has privatized and disintegrated the nation's generation, transmission, and distribution companies, introduced market competition for power purchases, and implemented incentive regulation for monopolized transmission and distribution grids. The remaining articles focus on the theater in which significant microeconomic issues will continue to emerge, most immediately in the U.K. and U.S.A. -- the coordination and pricing of transmission.

Author : Gupta B.R.
Publisher : S. Chand Publishing
Page : 128 pages
File Size : 42,8 Mb
Release : 2017
Category : Technology & Engineering
ISBN : 9789352533817

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Generation of Electrical Energy, 7th Edition by Gupta B.R. Pdf

Generation of Electrical Energy is written primarily for the undergraduate students of electrical engineering while also covering the syllabus of AMIE and act as a refresher for the professionals in the field. The subject itself is now rejuvenated with important new developments. With this in view, the book covers conventional topics like load curves, steam generation, hydro-generation parallel operation as well as new topics like new sources of energy generation, hydrothermal coordination, static reserve reliability evaluation among others.