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Optimizing The Economic Efficiency Of Wholesale Electricity Markets
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Book Synopsis Local Electricity Markets by : Tiago Pinto
Download or read book Local Electricity Markets written by Tiago Pinto and published by Academic Press. This book was released on 2021-07-03 with total page 474 pages. Available in PDF, EPUB and Kindle. Book excerpt: Local Electricity Markets introduces the fundamental characteristics, needs, and constraints shaping the design and implementation of local electricity markets. It addresses current proposed local market models and lessons from their limited practical implementation. The work discusses relevant decision and informatics tools considered important in the implementation of local electricity markets. It also includes a review on management and trading platforms, including commercially available tools. Aspects of local electricity market infrastructure are identified and discussed, including physical and software infrastructure. It discusses the current regulatory frameworks available for local electricity market development internationally. The work concludes with a discussion of barriers and opportunities for local electricity markets in the future. - Delineates key components shaping the design and implementation of local electricity market structure - Provides a coherent view on the enabling infrastructures and technologies that underpin local market expansion - Explores the current regulatory environment for local electricity markets drawn from a global panel of contributors - Exposes future paths toward widespread implementation of local electricity markets using an empirical review of barriers and opportunities - Reviews relevant local electricity market case studies, pilots and demonstrators already deployed and under implementation
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.
Book Synopsis Competitive Electricity Markets by : Fereidoon Sioshansi
Download or read book Competitive Electricity Markets written by Fereidoon Sioshansi and published by Elsevier. This book was released on 2011-10-10 with total page 625 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
Book Synopsis Economics of Electricity by : Anna Cretì
Download or read book Economics of Electricity written by Anna Cretì and published by Cambridge University Press. This book was released on 2019-05-30 with total page 369 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explains the economics of electricity at each step of the supply chain: production, transportation and distribution, and retail.
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.
Download or read book Electricity Markets written by Jeremy Lin and published by John Wiley & Sons. This book was released on 2017-08-30 with total page 357 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive resource that provides the basic concepts of electric power systems, microeconomics, and optimization techniques Electricity Markets: Theories and Applications offers students and practitioners a clear understanding of the fundamental concepts of the economic theories, particularly microeconomic theories, as well as information on some advanced optimization methods of electricity markets. The authors—noted experts in the field—cover the basic drivers for the transformation of the electricity industry in both the United States and around the world and discuss the fundamentals of power system operation, electricity market design and structures, and electricity market operations. The text also explores advanced topics of power system operations and electricity market design and structure including zonal versus nodal pricing, market performance and market power issues, transmission pricing, and the emerging problems electricity markets face in smart grid and micro-grid environments. The authors also examine system planning under the context of electricity market regime. They explain the new ways to solve problems with the tremendous amount of economic data related to power systems that is now available. This important resource: Introduces fundamental economic concepts necessary to understand the operations and functions of electricity markets Presents basic characteristics of power systems and physical laws governing operation Includes mathematical optimization methods related to electricity markets and their applications to practical market clearing issues Electricity Markets: Theories and Applications is an authoritative text that explores the basic concepts of the economic theories and key information on advanced optimization methods of electricity markets.
Author :National Academies of Sciences, Engineering, and Medicine Publisher :National Academies Press ISBN 13 :0309371422 Total Pages :341 pages Book Rating :4.3/5 (93 download)
Book Synopsis The Power of Change by : National Academies of Sciences, Engineering, and Medicine
Download or read book The Power of Change written by National Academies of Sciences, Engineering, and Medicine and published by National Academies Press. This book was released on 2016-09-30 with total page 341 pages. Available in PDF, EPUB and Kindle. Book excerpt: Electricity, supplied reliably and affordably, is foundational to the U.S. economy and is utterly indispensable to modern society. However, emissions resulting from many forms of electricity generation create environmental risks that could have significant negative economic, security, and human health consequences. Large-scale installation of cleaner power generation has been generally hampered because greener technologies are more expensive than the technologies that currently produce most of our power. Rather than trade affordability and reliability for low emissions, is there a way to balance all three? The Power of Change: Innovation for Development and Deployment of Increasingly Clean Energy Technologies considers how to speed up innovations that would dramatically improve the performance and lower the cost of currently available technologies while also developing new advanced cleaner energy technologies. According to this report, there is an opportunity for the United States to continue to lead in the pursuit of increasingly clean, more efficient electricity through innovation in advanced technologies. The Power of Change: Innovation for Development and Deployment of Increasingly Clean Energy Technologies makes the case that America's advantagesâ€"world-class universities and national laboratories, a vibrant private sector, and innovative states, cities, and regions that are free to experiment with a variety of public policy approachesâ€"position the United States to create and lead a new clean energy revolution. This study focuses on five paths to accelerate the market adoption of increasing clean energy and efficiency technologies: (1) expanding the portfolio of cleaner energy technology options; (2) leveraging the advantages of energy efficiency; (3) facilitating the development of increasing clean technologies, including renewables, nuclear, and cleaner fossil; (4) improving the existing technologies, systems, and infrastructure; and (5) leveling the playing field for cleaner energy technologies. The Power of Change: Innovation for Development and Deployment of Increasingly Clean Energy Technologies is a call for leadership to transform the United States energy sector in order to both mitigate the risks of greenhouse gas and other pollutants and to spur future economic growth. This study's focus on science, technology, and economic policy makes it a valuable resource to guide support that produces innovation to meet energy challenges now and for the future.
Book Synopsis A New Swing-Contract Design for Wholesale Power Markets by :
Download or read book A New Swing-Contract Design for Wholesale Power Markets written by and published by John Wiley & Sons. This book was released on 2020-12-12 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides comprehensive information on swing contracts for flexible reserve provision in wholesale power markets This book promotes a linked swing-contract market design for centrally-managed wholesale power markets to facilitate increased reliance on renewable energy resources and demand-side participation. The proposed swing contracts are firm or option two-part pricing contracts permitting resources to offer the future availability of dispatchable power paths (reserve) with broad types of flexibility in their power attributes. A New Swing-Contract Design for Wholesale Power Markets begins with a brief introduction to the subject, followed by two chapters that cover: general goals for wholesale power market design; history, operations, and conceptual concerns for current U.S. RTO/ISO-managed wholesale power markets; and the relationship of the present study to previous swing-contract research. The next eight chapters cover: a general swing-contract formulation for centrally-managed wholesale power markets; illustrative swing-contract reserve offers; inclusion of reserve offers with price swing; inclusion of price-sensitive reserve bids; and extension to a linked collection of swing-contract markets. Operations in current U.S. RTO/ISO-managed markets are reviewed in the following four chapters, and conceptual and practical advantages of the linked swing-contract market design are carefully considered. The book concludes with an examination of two key issues: How might current U.S. RTO/ISO-managed markets transition gradually to a swing-contract form? And how might independent distribution system operators, functioning as linkage entities at transmission and distribution system interfaces, make use of swing contracts to facilitate their participation in wholesale power markets as providers of ancillary services harnessed from distribution-side resources? In summary, this title: Addresses problems with current wholesale electric power markets by developing a new swing-contract market design from concept to practical implementation Provides introductory chapters that explain the general principles motivating the new market design, hence why a new approach is required Develops a new type of swing contract suitable for wholesale power markets with increasing reliance on renewable energy and active demand-side participation A New Swing-Contract Design for Wholesale Power Markets is an ideal book for electric power system professionals and for students specializing in electric power systems.
Book Synopsis Spot Pricing of Electricity by : Fred C. Schweppe
Download or read book Spot Pricing of Electricity written by Fred C. Schweppe and published by Springer Science & Business Media. This book was released on 2013-03-07 with total page 362 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
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
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.
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.
Book Synopsis Global Carbon Pricing by : Peter Cramton
Download or read book Global Carbon Pricing written by Peter Cramton and published by MIT Press. This book was released on 2017-06-16 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why the traditional “pledge and review” climate agreements have failed, and how carbon pricing, based on trust and reciprocity, could succeed. After twenty-five years of failure, climate negotiations continue to use a “pledge and review” approach: countries pledge (almost anything), subject to (unenforced) review. This approach ignores everything we know about human cooperation. In this book, leading economists describe an alternate model for climate agreements, drawing on the work of the late Nobel laureate Elinor Ostrom and others. They show that a “common commitment” scheme is more effective than an “individual commitment” scheme; the latter depends on altruism while the former involves reciprocity (“we will if you will”). The contributors propose that global carbon pricing is the best candidate for a reciprocal common commitment in climate negotiations. Each country would commit to placing charges on carbon emissions sufficient to match an agreed global price formula. The contributors show that carbon pricing would facilitate negotiations and enforcement, improve efficiency and flexibility, and make other climate policies more effective. Additionally, they analyze the failings of the 2015 Paris climate conference. Contributors Richard N. Cooper, Peter Cramton, Ottmar Edenhofer, Christian Gollier, Éloi Laurent, David JC MacKay, William Nordhaus, Axel Ockenfels, Joseph E. Stiglitz, Steven Stoft, Jean Tirole, Martin L. Weitzman
Book Synopsis Tackling Investment Challenges in Power Generation by : International Energy Agency
Download or read book Tackling Investment Challenges in Power Generation written by International Energy Agency and published by OECD Publishing. This book was released on 2007 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: What are the recent trends and prospects for investment in power generation? What are the main drivers and barriers? This book assesses these issues and gives special emphasis to the question of how uncertainties may affect investment decisions. Uncertainties on CO 2 constraints, on power plant licensing, on acceptability of nuclear power, on local opposition to any new energy infrastructure, on government support for specific generation technologies and on government policies on energy efficiency are particularly disturbing. Market liberalisation can also be a key uncertainty, but this may be greatly reduced and deliver considerable benefits if liberalisation is implemented whole-heartedly and backed by on-going government commitment.
Book Synopsis Market Operations in Electric Power Systems by : Mohammad Shahidehpour
Download or read book Market Operations in Electric Power Systems written by Mohammad Shahidehpour and published by John Wiley & Sons. This book was released on 2003-05-28 with total page 552 pages. Available in PDF, EPUB and Kindle. Book excerpt: An essential overview of post-deregulation market operations inelectrical power systems Until recently the U.S. electricity industry was dominated byvertically integrated utilities. It is now evolving into adistributive and competitive market driven by market forces andincreased competition. With electricity amounting to a $200 billionper year market in the United States, the implications of thisrestructuring will naturally affect the rest of the world. Why is restructuring necessary? What are the components ofrestructuring? How is the new structure different from the oldmonopoly? How are the participants strategizing their options tomaximize their revenues? What are the market risks and how are theyevaluated? How are interchange transactions analyzed and approved?Starting with a background sketch of the industry, this hands-onreference provides insights into the new trends in power systemsoperation and control, and highlights advanced issues in thefield. Written for both technical and nontechnical professionals involvedin power engineering, finance, and marketing, this must-haveresource discusses: * Market structure and operation of electric power systems * Load and price forecasting and arbitrage * Price-based unit commitment and security constrained unitcommitment * Market power analysis and game theory applications * Ancillary services auction market design * Transmission pricing and congestion Using real-world case studies, this timely survey offers engineers,consultants, researchers, financial managers, university professorsand students, and other professionals in the industry acomprehensive review of electricity restructuring and how itsradical effects will shape the market.
Book Synopsis Control and Optimization Methods for Electric Smart Grids by : Aranya Chakrabortty
Download or read book Control and Optimization Methods for Electric Smart Grids written by Aranya Chakrabortty and published by Springer Science & Business Media. This book was released on 2011-12-16 with total page 377 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book, leading experts in power, control and communication systems discuss the most promising recent research in smart grid modeling, control and optimization. The book goes on to the foundation for future advances in this critical field of study.
Book Synopsis A Manual for the Economic Evaluation of Energy Efficiency and Renewable Energy Technologies by : Walter Short
Download or read book A Manual for the Economic Evaluation of Energy Efficiency and Renewable Energy Technologies written by Walter Short and published by . This book was released on 2005 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Manual for the Economic Evaluation of Energy Efficiency and Renewable Energy Technologies provides guidance on economic evaluation approaches, metrics, and levels of detail required, while offering a consistent basis on which analysts can perform analyses using standard assumptions and bases. It not only provides information on the primary economic measures used in economic analyses and the fundamentals of finance but also provides guidance focused on the special considerations required in the economic evaluation of energy efficiency and renewable energy systems.
