Deregulated Electricity Market

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Electric Power Planning for Regulated and Deregulated Markets

Author : Arthur Mazer
Publisher : John Wiley & Sons
ISBN 13 : 0470130563
Total Pages : 335 pages
Book Rating : 4.4/5 (71 download)

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Book Synopsis Electric Power Planning for Regulated and Deregulated Markets by : Arthur Mazer

Download or read book Electric Power Planning for Regulated and Deregulated Markets written by Arthur Mazer and published by John Wiley & Sons. This book was released on 2007-06-11 with total page 335 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the industry environment transforms from a completely regulated setting to a broader, deregulated marketplace, new market participants must understand planning and operations of power systems to effectively participate in markets. This industry overview provides a description of utility operations and traditional planning, and then explains asset management, investment analysis, and risk management within the context of a market environment. Written to provide a broad, working knowledge of the industry, Electric Power Planning for Regulated and Deregulated Markets: Includes descriptions of generation and transmission network equipment Provides an overview of the regulatory framework, system design and systems operations for ensuring reliable delivery of power Presents system planning across different time horizons with the objective of minimizing power production costs Explains the principles and architecture of a market environment coupling operational imperatives with financial transactions Addresses approaches of various participants, including power producers, retailers, and integrated energy companies toward bidding in day ahead markets, managing risks in forward markets, portfolio development and investment analysis Provides numerous examples addressing cost minimization, price forecasting, contract valuation, portfolio risk measurement and others Examines past news events and explains what went wrong at Three Mile Island, the Northeast blackout of 2003, and the California energy crisis This is an ideal reference for professionals in the public and private power service sectors such as engineers, lawyers, systems specialists, economists, financial analysts, policy analysts, and applied mathematicians.

Electricity Deregulation

Author : James M. Griffin
Publisher : University of Chicago Press
ISBN 13 : 0226308588
Total Pages : 453 pages
Book Rating : 4.2/5 (263 download)

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Book Synopsis Electricity Deregulation by : James M. Griffin

Download or read book Electricity Deregulation written by James M. Griffin and published by University of Chicago Press. This book was released on 2009-11-15 with total page 453 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Markets for Power

Author : Paul L. Joskow
Publisher : MIT Press (MA)
ISBN 13 : 9780262600187
Total Pages : 269 pages
Book Rating : 4.6/5 (1 download)

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Book Synopsis Markets for Power by : Paul L. Joskow

Download or read book Markets for Power written by Paul L. Joskow and published by MIT Press (MA). This book was released on 1988-08-01 with total page 269 pages. Available in PDF, EPUB and Kindle. Book excerpt: This timely study evaluates four generic proposals for allowing free market forces toreplace government regulation in the electric power industry and concludes that none of thederegulation alternatives considered represents a panacea for the performance failures associatedwith things as they are now. It proposes a balanced program of regulatory reform and deregulationthat promises to improve industry performance in the short run, resolve uncertainties about thecosts and benefits of deregulation, and positions the industry for more extensive deregulation inthe long run should interim experimentation with deregulation, structural, and regulatory reformsmake it desirable.The book integrates modern microeconomic theory with a comprehensive analysis ofthe economic, technical, and institutional characteristics of modern electrical power systems. Itemphasizes that casual analogies to successful deregulation efforts in other sectors of the economyare an inadequate and potentially misleading basis for public policy in the electric power industry,which has economic and technical characteristics that are quite different from those in otherderegulated industries.Paul L. Joskow is Professor of Economics at MIT, author of ControllingHospital Costs (MIT Press 1981) and coauthor with Martin L. Baughman and Dilip P. Kamat of ElectricPower in the United States (MIT Press 1979). Richard Schmalensee, also at MIT, is Professor ofApplied Economics, author of The Economics of Advertising and The Control of Natural Monopolies, andeditor of The MIT Press Series, Regulation of Economic Activity.

Electricity Market Reform

Author : Fereidoon Sioshansi
Publisher : Elsevier
ISBN 13 : 0080462715
Total Pages : 687 pages
Book Rating : 4.0/5 (84 download)

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Book Synopsis Electricity Market Reform by : Fereidoon Sioshansi

Download or read book Electricity Market Reform written by Fereidoon Sioshansi and published by Elsevier. This book was released on 2006-04-13 with total page 687 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

Power System Restructuring and Deregulation

Author : Loi Lei Lai
Publisher : John Wiley & Sons
ISBN 13 : 9780471495000
Total Pages : 508 pages
Book Rating : 4.4/5 (95 download)

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Book Synopsis Power System Restructuring and Deregulation by : Loi Lei Lai

Download or read book Power System Restructuring and Deregulation written by Loi Lei Lai and published by John Wiley & Sons. This book was released on 2001-11-28 with total page 508 pages. Available in PDF, EPUB and Kindle. Book excerpt: Die Umstrukturierung und Liberalisierung der Stromerzeugung brachte tiefgreifende Veränderungen des Marktes, des Wettbewerbs, der Technologien und nicht zuletzt der gesetzlichen Vorschriften mit sich. Dieser Band konzentriert sich auf die technischen Fortschritte und bespricht derzeit aktuelle Probleme anhand anschaulicher Fallstudien. So werden zum Beispiel neue Verfahren zur Vorhersage der Netzlast erläutert. Von international renommierten Experten geschrieben! (07/00)

The Economics of Electricity Markets

Author : Darryl R. Biggar
Publisher : John Wiley & Sons
ISBN 13 : 1118775724
Total Pages : 493 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 493 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

Operation of Restructured Power Systems

Author : Kankar Bhattacharya
Publisher : Springer Science & Business Media
ISBN 13 : 1461514657
Total Pages : 323 pages
Book Rating : 4.4/5 (615 download)

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Book Synopsis Operation of Restructured Power Systems by : Kankar Bhattacharya

Download or read book Operation of Restructured Power Systems written by Kankar Bhattacharya and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 323 pages. Available in PDF, EPUB and Kindle. Book excerpt: Deregulation is a fairly new paradigm in the electric power industry. And just as in the case of other industries where it has been introduced, the goal of deregulation is to enhance competition and bring consumers new choices and economic benefits. The process has, obviously, necessitated reformulation of established models of power system operation and control activities. Similarly, issues such as system reliability, control, security and power quality in this new environment have come in for scrutiny and debate. In this book, we attempt to present a comprehensive overview of the deregulation process that has developed till now, focussing on the operation aspects. As of now, restructured electricity markets have been established in various degrees and forms in many countries. This book comes at a time when the deregulation process is poised to undergo further rapid advancements. It is envisaged that the reader will benefit by way of an enhanced understanding of power system operations in the conventional vertically integrated environment vis-a-vis the deregulated environment. The book is aimed at a wide range of audience- electric utility personnel involved in scheduling, dispatch, grid operations and related activities, personnel involved in energy trading businesses and electricity markets, institutions involved in energy sector financing. Power engineers, energy economists, researchers in utilities and universities should find the treatment of mathematical models as well as emphasis on recent research work helpful.

Electricity Economics

Author : Geoffrey S. Rothwell
Publisher : Wiley-IEEE Press
ISBN 13 :
Total Pages : 312 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Electricity Economics by : Geoffrey S. Rothwell

Download or read book Electricity Economics written by Geoffrey S. Rothwell and published by Wiley-IEEE Press. This book was released on 2003-02-14 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: Written originally as a manual for the Federal Energy Commission to train regional rate regulators, this is a clear, comprehensive primer on the principles of economics and finance underlying the regulation of electricity markets and the deregulation of electricity generation.

Power System Economics

Author : Steven Stoft
Publisher : Wiley-IEEE Press
ISBN 13 : 9780471150404
Total Pages : 498 pages
Book Rating : 4.1/5 (54 download)

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Book Synopsis Power System Economics by : Steven Stoft

Download or read book Power System Economics written by Steven Stoft and published by Wiley-IEEE Press. This book was released on 2002-05-28 with total page 498 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first systematic presentation of electricity market design-from the basics to the cutting edge. Unique in its breadth and depth. Using examples and focusing on fundamentals, it clarifies long misunderstood issues-such as why today's markets are inherently unstable. The book reveals for the first time how uncoordinated regulatory and engineering policies cause boom-bust investment swings and provides guidance and tools for fixing broken markets. It also takes a provocative look at the operation of pools and power exchanges. * Part 1 introduces key economic, engineering and market design concepts. * Part 2 links short-run reliability policies with long-run investment problems. * Part 3 examines classic designs for day-ahead and real-time markets. * Part 4 covers market power, and * Part 5 covers locational pricing, transmission right and pricing losses. The non-technical introductions to all chapters allow easy access to the most difficult topics. Steering an independent course between ideological extremes, it provides background material for engineers, economists, regulators and lawyers alike. With nearly 250 figures, tables, side bars, and concisely-stated results and fallacies, the 44 chapters cover such essential topics as auctions, fixed-cost recovery from marginal cost, pricing fallacies, real and reactive power flows, Cournot competition, installed capacity markets, HHIs, the Lerner index and price caps. About the Author Steven Stoft has a Ph.D. in economics (U.C. Berkeley) as well as a background in physics, math, engineering, and astronomy. He spent a year inside FERC and now consults for PJM, California and private generators. Learn more at www.stoft.com.

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.

The California Electricity Crisis

Author : Christopher Weare
Publisher : Public Policy Instit. of CA
ISBN 13 : 1582130647
Total Pages : 140 pages
Book Rating : 4.5/5 (821 download)

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Book Synopsis The California Electricity Crisis by : Christopher Weare

Download or read book The California Electricity Crisis written by Christopher Weare and published by Public Policy Instit. of CA. This book was released on 2003 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Electricity Pricing

Author : Sawan Sen
Publisher : CRC Press
ISBN 13 : 1482251752
Total Pages : 244 pages
Book Rating : 4.4/5 (822 download)

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Book Synopsis Electricity Pricing by : Sawan Sen

Download or read book Electricity Pricing written by Sawan Sen and published by CRC Press. This book was released on 2018-09-03 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

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.

Economic Market Design and Planning for Electric Power Systems

Author : James A. Momoh
Publisher : John Wiley & Sons
ISBN 13 : 0470529156
Total Pages : 311 pages
Book Rating : 4.4/5 (75 download)

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Book Synopsis Economic Market Design and Planning for Electric Power Systems by : James A. Momoh

Download or read book Economic Market Design and Planning for Electric Power Systems written by James A. Momoh and published by John Wiley & Sons. This book was released on 2009-11-19 with total page 311 pages. Available in PDF, EPUB and Kindle. Book excerpt: Discover cutting-edge developments in electric power systems Stemming from cutting-edge research and education activities in the field of electric power systems, this book brings together the knowledge of a panel of experts in economics, the social sciences, and electric power systems. In ten concise and comprehensible chapters, the book provides unprecedented coverage of the operation, control, planning, and design of electric power systems. It also discusses: A framework for interdisciplinary research and education Modeling electricity markets Alternative economic criteria and proactive planning for transmission investment in deregulated power systems Payment cost minimization with demand bids and partial capacity cost compensations for day-ahead electricity auctions Dynamic oligopolistic competition in an electric power network and impacts of infrastructure disruptions Reliability in monopolies and duopolies Building an efficient, reliable, and sustainable power system Risk-based power system planning integrating social and economic direct and indirect costs Models for transmission expansion planning based on reconfiguration capacitor switching Next-generation optimization for electric power systems Most chapters end with a bibliography, closing remarks, conclusions, or future work. Economic Market Design and Planning for Electric Power Systems is an indispensable reference for policy-makers, executives and engineers of electric utilities, university faculty members, and graduate students and researchers in control theory, electric power systems, economics, and the social sciences.

Applications of Modern Heuristic Optimization Methods in Power and Energy Systems

Author : Kwang Y. Lee
Publisher : John Wiley & Sons
ISBN 13 : 1119602297
Total Pages : 896 pages
Book Rating : 4.1/5 (196 download)

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Book Synopsis Applications of Modern Heuristic Optimization Methods in Power and Energy Systems by : Kwang Y. Lee

Download or read book Applications of Modern Heuristic Optimization Methods in Power and Energy Systems written by Kwang Y. Lee and published by John Wiley & Sons. This book was released on 2020-04-14 with total page 896 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reviews state-of-the-art technologies in modern heuristic optimization techniques and presents case studies showing how they have been applied in complex power and energy systems problems Written by a team of international experts, this book describes the use of metaheuristic applications in the analysis and design of electric power systems. This includes a discussion of optimum energy and commitment of generation (nonrenewable & renewable) and load resources during day-to-day operations and control activities in regulated and competitive market structures, along with transmission and distribution systems. Applications of Modern Heuristic Optimization Methods in Power and Energy Systems begins with an introduction and overview of applications in power and energy systems before moving on to planning and operation, control, and distribution. Further chapters cover the integration of renewable energy and the smart grid and electricity markets. The book finishes with final conclusions drawn by the editors. Applications of Modern Heuristic Optimization Methods in Power and Energy Systems: Explains the application of differential evolution in electric power systems' active power multi-objective optimal dispatch Includes studies of optimization and stability in load frequency control in modern power systems Describes optimal compliance of reactive power requirements in near-shore wind power plants Features contributions from noted experts in the field Ideal for power and energy systems designers, planners, operators, and consultants, Applications of Modern Heuristic Optimization Methods in Power and Energy Systems will also benefit engineers, software developers, researchers, academics, and students.

The Evolution of Electricity Markets in Europe

Author : Leonardo Meeus
Publisher : Edward Elgar Publishing
ISBN 13 : 1789905478
Total Pages : 192 pages
Book Rating : 4.7/5 (899 download)

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Book Synopsis The Evolution of Electricity Markets in Europe by : Leonardo Meeus

Download or read book The Evolution of Electricity Markets in Europe written by Leonardo Meeus and published by Edward Elgar Publishing. This book was released on 2020-11-27 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bridging theory and practice, this book offers insights into how Europe has experienced the evolution of modern electricity markets from the end of the 1990s to the present day. It explores defining moments in the process, including the four waves of European legislative packages, landmark court cases, and the impact of climate strikes and marches.

Pricing in Competitive Electricity Markets

Author : Ahmad Faruqui
Publisher : Springer Science & Business Media
ISBN 13 : 9780792378396
Total Pages : 502 pages
Book Rating : 4.3/5 (783 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 2000-05-31 with total page 502 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.