Competitive Electricity Markets

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Valuation, Hedging and Speculation in Competitive Electricity Markets

Author : Petter L. Skantze
Publisher : Springer Science & Business Media
ISBN 13 : 146151701X
Total Pages : 220 pages
Book Rating : 4.4/5 (615 download)

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Book Synopsis Valuation, Hedging and Speculation in Competitive Electricity Markets by : Petter L. Skantze

Download or read book Valuation, Hedging and Speculation in Competitive Electricity Markets written by Petter L. Skantze and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Electricity Markets

Author : Chris Harris
Publisher : John Wiley & Sons
ISBN 13 : 0470011580
Total Pages : 550 pages
Book Rating : 4.4/5 (7 download)

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Book Synopsis Electricity Markets by : Chris Harris

Download or read book Electricity Markets written by Chris Harris and published by John Wiley & Sons. This book was released on 2006-05-18 with total page 550 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Competitive Electricity Markets

Author : Fereidoon P. Sioshansi
Publisher : Elsevier
ISBN 13 : 9780080557717
Total Pages : 624 pages
Book Rating : 4.5/5 (577 download)

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Book Synopsis Competitive Electricity Markets by : Fereidoon P. Sioshansi

Download or read book Competitive Electricity Markets written by Fereidoon P. Sioshansi and published by Elsevier. This book was released on 2011-10-10 with total page 624 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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

Electricity Market Reform

Author : Fereidoon P. Sioshansi
Publisher : Elsevier
ISBN 13 : 9780080462714
Total Pages : 688 pages
Book Rating : 4.4/5 (627 download)

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Book Synopsis Electricity Market Reform by : Fereidoon P. Sioshansi

Download or read book Electricity Market Reform written by Fereidoon P. Sioshansi and published by Elsevier. This book was released on 2006-04-13 with total page 688 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 and Sustainability

Author : François Lévêque
Publisher : Edward Elgar Publishing
ISBN 13 : 184720435X
Total Pages : 319 pages
Book Rating : 4.8/5 (472 download)

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Book Synopsis Competitive Electricity Markets and Sustainability by : François Lévêque

Download or read book Competitive Electricity Markets and Sustainability written by François Lévêque and published by Edward Elgar Publishing. This book was released on 2007-01-01 with total page 319 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Pricing in Competitive Electricity Markets

Author : Ahmad Faruqui
Publisher : Springer Science & Business Media
ISBN 13 : 1461545293
Total Pages : 463 pages
Book Rating : 4.4/5 (615 download)

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Book Synopsis Pricing in Competitive Electricity Markets by : Ahmad Faruqui

Download or read book Pricing in Competitive Electricity Markets written by Ahmad Faruqui and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 463 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Making Competition Work in Electricity

Author : Sally Hunt
Publisher : John Wiley & Sons
ISBN 13 : 0471266027
Total Pages : 467 pages
Book Rating : 4.4/5 (712 download)

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Book Synopsis Making Competition Work in Electricity by : Sally Hunt

Download or read book Making Competition Work in Electricity written by Sally Hunt and published by John Wiley & Sons. This book was released on 2002-10-01 with total page 467 pages. Available in PDF, EPUB and Kindle. Book excerpt: An expert's perspective on how competition can make this industry work. There has never been a coherent plan to restructure the electricity industry in the USâ??until now. Power expert Sally Hunt gets down to the critical lessons learned from the California power crisis and other deregulated markets, in which competition has been introduced properly and successfully. Hunt presents sensible solutions to power market reform that have been cultivated over her twenty years of professional work in the industry. Sally Hunt (New York, NY) spent twenty years at National Economic Research Associates, where she was head of NERA's U.S. energy practice and a member of the board. Coauthor of Competition and Choice in Electricity with Graham Shuttleworth (0471957828), she has served as Corporate Economist at Con Edison, Deputy Director of the New York City Energy Office, and Assistant Administrator of the New York City Environmental Protection Administration. Over the years, financial professionals around the world have looked to the Wiley Finance series and its wide array of bestselling books for the knowledge, insights, and techniques that are essential to success in financial markets. As the pace of change in financial markets and instruments quickens, Wiley Finance continues to respond. With critically acclaimed books by leading thinkers on value investing, risk management,asset allocation, and many other critical subjects, the Wiley Finance series provides the financial community with information they want. Written to provide professionals and individuals with the most current thinking from the best minds in the industry, it is no wonder that the Wiley Finance series is the first and last stop for financial professionals looking to increase their financial expertise.

Evolution of Global Electricity Markets

Author : Fereidoon P. Sioshansi
Publisher : Academic Press
ISBN 13 : 0123979064
Total Pages : 880 pages
Book Rating : 4.1/5 (239 download)

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Book Synopsis Evolution of Global Electricity Markets by : Fereidoon P. Sioshansi

Download or read book Evolution of Global Electricity Markets written by Fereidoon P. Sioshansi and published by Academic Press. This book was released on 2013-06-10 with total page 880 pages. Available in PDF, EPUB and Kindle. Book excerpt: Get the latest on rapidly evolving global electricity markets direct from the scholars and thought leaders who are shaping reform. In this volume, dozens of world-class experts from diverse regions provide a comprehensive assessment of the relevant issues in today’s electricity markets. Amid a seething backdrop of rising energy prices, concerns about environmental degradation, and the introduction of distributed sources and smart grids, increasingly stringent demands are being placed on the electric power sector to provide a more reliable, efficient delivery infrastructure, and more rational, cost-reflective prices. This book maps out the electric industry’s new paradigms, challenges and approaches, providing invaluable global perspective on this host of new and pressing issues being investigated by research institutions worldwide. Companies engaged in the power sector’s extensive value chain including utilities, generation, transmission & distribution companies, retailers, suppliers, regulators, market designers, and the investment & financial rating community will benefit from gaining a more nuanced understanding of the impacts of key market design and restructuring choices. How can problems be avoided? Why do some restructured markets appear to function better than others? Which technological implementations represent the best investments? Which regulatory mechanisms will best support these new technologies? What lessons can be learned from experiences in Norway, Australia, Texas, or the U.K.? These questions and many more are undertaken by the brightest minds in the industry in this one comprehensive, cutting-edge resource. Features a unique global perspective from more than 40 recognized experts and scholars around the world, offering opportunities to compare and contrast a wide range of market structures Analyzes how the implementation of existing and developing market designs impacts real-world issues such as pricing and reliability Explains the latest thinking on timely issues such as current market reform proposals, restructuring, liberalization, privatization, capacity and energy markets, distributed and renewable energy integration, competitive generation and retail markets, and disaggregated vs. vertically integrated systems

Competitive Electricity Markets: The Power of Choice

Author : Joseph L. Welch, PE
Publisher : Lulu.com
ISBN 13 : 0557160170
Total Pages : 224 pages
Book Rating : 4.5/5 (571 download)

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Book Synopsis Competitive Electricity Markets: The Power of Choice by : Joseph L. Welch, PE

Download or read book Competitive Electricity Markets: The Power of Choice written by Joseph L. Welch, PE and published by Lulu.com. This book was released on 2009 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: Critique of the US Electricity Industry. Analysis of derailed industry deregulation initiatives. Sketches a new, competitively structured Energy Policy Template.

Handbook on Electricity Markets

Author : Glachant, Jean-Michel
Publisher : Edward Elgar Publishing
ISBN 13 : 1788979958
Total Pages : 672 pages
Book Rating : 4.7/5 (889 download)

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Book Synopsis Handbook on Electricity Markets by : Glachant, Jean-Michel

Download or read book Handbook on Electricity Markets written by Glachant, Jean-Michel and published by Edward Elgar Publishing. This book was released on 2021-11-12 with total page 672 pages. Available in PDF, EPUB and Kindle. Book excerpt: With twenty-two chapters written by leading international experts, this volume represents the most detailed and comprehensive Handbook on electricity markets ever published.

Designing Competitive Electricity Markets

Author : Hung-po Chao
Publisher : Springer Science & Business Media
ISBN 13 : 1461555477
Total Pages : 213 pages
Book Rating : 4.4/5 (615 download)

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Book Synopsis Designing Competitive Electricity Markets by : Hung-po Chao

Download or read book Designing Competitive Electricity Markets written by Hung-po Chao and published by Springer Science & Business Media. This book was released on 2013-12-01 with total page 213 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Mathematical Modelling of Contemporary Electricity Markets

Author : Athanasios Dagoumas
Publisher : Academic Press
ISBN 13 : 0128218398
Total Pages : 444 pages
Book Rating : 4.1/5 (282 download)

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Book Synopsis Mathematical Modelling of Contemporary Electricity Markets by : Athanasios Dagoumas

Download or read book Mathematical Modelling of Contemporary Electricity Markets written by Athanasios Dagoumas and published by Academic Press. This book was released on 2021-01-30 with total page 444 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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

Modelling Prices in Competitive Electricity Markets

Author : Derek W. Bunn
Publisher : John Wiley & Sons
ISBN 13 :
Total Pages : 368 pages
Book Rating : 4.:/5 (321 download)

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Book Synopsis Modelling Prices in Competitive Electricity Markets by : Derek W. Bunn

Download or read book Modelling Prices in Competitive Electricity Markets written by Derek W. Bunn and published by John Wiley & Sons. This book was released on 2004-04-02 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Designing Competitive Electricity Markets

Author : Hung-Po Chao
Publisher :
ISBN 13 : 9781461555483
Total Pages : 228 pages
Book Rating : 4.5/5 (554 download)

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Book Synopsis Designing Competitive Electricity Markets by : Hung-Po Chao

Download or read book Designing Competitive Electricity Markets written by Hung-Po Chao and published by . This book was released on 2014-09-17 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Economics of Electricity Markets

Author : Darryl R. Biggar
Publisher : John Wiley & Sons
ISBN 13 : 1118775724
Total Pages : 432 pages
Book Rating : 4.1/5 (187 download)

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Book Synopsis The Economics of Electricity Markets by : Darryl R. Biggar

Download or read book The Economics of Electricity Markets written by Darryl R. Biggar and published by John Wiley & Sons. This book was released on 2014-07-10 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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

Restructured Electric Power Systems

Author : Xiao-Ping Zhang
Publisher : John Wiley & Sons
ISBN 13 : 1118017072
Total Pages : 292 pages
Book Rating : 4.1/5 (18 download)

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Book Synopsis Restructured Electric Power Systems by : Xiao-Ping Zhang

Download or read book Restructured Electric Power Systems written by Xiao-Ping Zhang and published by John Wiley & Sons. This book was released on 2010-10-15 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: The latest practical applications of electricity market equilibrium models in analyzing electricity markets Electricity market deregulation is driving the power energy production from a monopolistic structure into a competitive market environment. The development of electricity markets has necessitated the need to analyze market behavior and power. Restructured Electric Power Systems reviews the latest developments in electricity market equilibrium models and discusses the application of such models in the practical analysis and assessment of electricity markets. Drawing upon the extensive involvement in the research and industrial development of the leading experts in the subject area, the book starts by explaining the current developments of electrical power systems towards smart grids and then relates the operation and control technologies to the aspects in electricity markets. It explores: The problems of electricity market behavior and market power Mathematical programs with equilibrium constraints (MPEC) and equilibrium problems with equilibrium constraints (EPEC) Tools and techniques for solving the electricity market equilibrium problems Various electricity market equilibrium models State-of-the-art techniques for computing the electricity market equilibrium problems The application of electricity market equilibrium models in assessing the economic benefits of transmission expansions for market environments, forward and spot markets, short-term power system security, and analysis of reactive power impact Also featured are computational resources to allow readers to develop algorithms on their own, as well as future research directions in modeling and computational techniques in electricity market analysis. Restructured Electric Power Systems is an invaluable reference for electrical engineers and power system economists from power utilities and for professors, postgraduate students, and undergraduate students in electrical power engineering, as well as those responsible for the design, engineering, research, and development of competitive electricity markets and electricity market policy.

Competition in Electricity Markets

Author : Carlos Ocaña
Publisher : OECD
ISBN 13 :
Total Pages : 168 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Competition in Electricity Markets by : Carlos Ocaña

Download or read book Competition in Electricity Markets written by Carlos Ocaña and published by OECD. This book was released on 2001 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyses the development of choice and competition in the Electricity Supply Industry (ESI). Drawing on a review of the international experience, it describes the main approaches that are being developed, discusses the key issues in the effective reform of electricity markets and provides an assessment of the emerging approach to reform. The book is written from the perspective of regulators and policy makers. It seeks to answer the question: what is an effective regulatory framework for competition in electricity markets?