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Peak Load Pricing For Transmission In A Deregulated Industry
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Book Synopsis Peak-load Pricing for Transmission in a Deregulated Industry by : Benoît Lecinq
Download or read book Peak-load Pricing for Transmission in a Deregulated Industry written by Benoît Lecinq and published by . This book was released on 1996 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introduction: The purpose of this paper is to study notions of optimal transmission pricing for interconnected power systems. The existing proposals on short-run-marginal-cost (SRMC)-based spot prices reflect the physical use of the lines. This approach is in contrast to the wide variety of approximate methods, such as contract path, which cannot be related to the actual system conditions. However, SRMC approaches are often criticized for not providing any incentives for network expansion. In the context of a deregulated industry, the unbundling of generation and transmission services precisely requires pricing mechanisms that give provision for the former coordination of generation and transmission planning performed by vertically integrated utilities. This should guide the choice of decision makers towards long run approaches. We provide here a brief summary of the theoretical research under way at MIT on optimal pricing mechanisms in a deregulated industry. In an attempt to highlight the similarities and differences between short run and long run marginal cost pricing (SRMC and LRMC), we first briefly review the theory of optimal spot prices, and, next, formulate the corresponding long run approach. Our proposed approach yields a single part tariff pricing for transmission services, i.e. a mechanism of access rates that does not decompose into a fixed entry fee and a usage-dependent component. A three-bus example illustrates numerically the concept of optimal transmission network, where SRMC is equal to LRMC. Finally, our theory of optimal access rates is judged from the regulator's viewpoint: what is the suitable expansion policy? If capacity rights are created and allocated, should the holders of these rights be compensated by the system operator?
Book Synopsis Peak-load Pricing for Transmission in a Deregulated Electric Utlity Industry by : Benoît Lecinq
Download or read book Peak-load Pricing for Transmission in a Deregulated Electric Utlity Industry written by Benoît Lecinq and published by . This book was released on 1996 with total page 161 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Peak-load Pricing for Electric Power Transmission by : Benoît Lecinq
Download or read book Peak-load Pricing for Electric Power Transmission written by Benoît Lecinq and published by . This book was released on 1996 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper is concerned with the problem of transmission network access tariffs in a deregulated electric power industry. It provides a basic theoretical formulation of a peak-load pricing for transmission access charge. The cost of investment is explicitly taken into account in the objective function, to model the trade-off between network expansion and use of inexpensive generation. This approach introduces incentives for network expansion at the locations most beneficial to the customers. In a well-defined open access environment, characterized by a single transmission service to all, this approach could become useful for setting transmission reservation right tariffs over various time horizons. Such tariffs are performance-based, in the sense that the transmission paths most useful to the economic transactions receive the highest compensation. A possible real-time use of this approach by an Independent System Operator (ISO) is discussed. Particular concerns of dealing with the lumpiness of investment issue and the computational complexity are addressed.
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 Systems Restructuring by : Marija Ilic
Download or read book Power Systems Restructuring written by Marija Ilic and published by Springer Science & Business Media. This book was released on 2013-03-14 with total page 559 pages. Available in PDF, EPUB and Kindle. Book excerpt: The writing of this book was largely motivated by the ongoing unprecedented world-wide restructuring of the power industry. This move away from the traditional monopolies and toward greater competition, in the form of increased numbers of independent power producers and an unbundling of the main services that were until now provided by the utilities, has been building up for over a decade. This change was driven by the large disparities in electricity tariffs across regions, by technological developments that make it possible for small producers to compete with large ones, and by a widely held belief that competition will be beneficial in a broad sense. All of this together with the political will to push through the necessary legislative reforms has created a climate conducive to restructuring in the electric power industry. Consequently, since the beginning of this decade dramatic changes have taken place in an ever-increasing list of nations, from the pioneering moves in the United Kingdom, Chile and Scandinavia, to today's highly fluid power industry throughout North and South America, as well as in the European Community. The drive to restructure and take advantage of the potential economic benefits has, in our view, forced the industry to take actions and make choices at a hurried pace, without the usual deliberation and thorough analysis of possible implications. We must admit that to speak of "the industry" at this juncture is perhaps disingenuous, even misleading.
Author :Michael A. Einhorn Publisher :Springer Science & Business Media ISBN 13 :9780792396437 Total Pages :308 pages Book Rating :4.3/5 (964 download)
Book Synopsis Electricity Transmission Pricing and Technology by : Michael A. Einhorn
Download or read book Electricity Transmission Pricing and Technology written by Michael A. Einhorn and published by Springer Science & Business Media. This book was released on 1995-12-31 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Transmission Pricing and Stranded Costs in the Electric Power Industry by : William J. Baumol
Download or read book Transmission Pricing and Stranded Costs in the Electric Power Industry written by William J. Baumol and published by American Enterprise Institute Press. This book was released on 1995 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: Stranded costs are those costs that electric utilities currently permitted to recover through their rates but whose recovery may be impeded or prevented by the advent of competition in the industry. Estimates of those costs run from the tens to the hundreds of billions of dollars. Should regulators permit utilities to recover stranded costs while they take steps to promote competition in the electric power industry? William J. Baumol and J. Gregory Sidak argue that on both efficiency and equity grounds the answer to that question should be yes. The authors show that a transmission price, the price for sending electricity over the transmission grid, can be determined in a manner that is compatible with economic efficiency and clearly neutral in its effects upon all competitors in electricity generation. A correctly constructed regime of transmission pricing may in fact achieve the efficiency and equity goals that justify the recovery of stranded costs.
Book Synopsis Optimization in Renewable Energy Systems by : Ozan Erdinc
Download or read book Optimization in Renewable Energy Systems written by Ozan Erdinc and published by Butterworth-Heinemann. This book was released on 2017-02-25 with total page 327 pages. Available in PDF, EPUB and Kindle. Book excerpt: Optimization in Renewable Energy Systems: Recent Perspectives covers all major areas where optimization techniques have been applied to reduce uncertainty or improve results in renewable energy systems (RES). Production of power with RES is highly variable and unpredictable, leading to the need for optimization-based planning and operation in order to maximize economies while sustaining performance. This self-contained book begins with an introduction to optimization, then covers a wide range of applications in both large and small scale operations, including optimum operation of electric power systems with large penetration of RES, power forecasting, transmission system planning, and DG sizing and siting for distribution and end-user premises. This book is an excellent choice for energy engineers, researchers, system operators, system regulators, and graduate students. Provides chapters written by experts in the field Goes beyond forecasting to apply optimization techniques to a wide variety of renewable energy system issues, from large scale to relatively small scale systems Provides accompanying computer code for related chapters
Book Synopsis Deregulation of Electric Utilities by : Georges Zaccour
Download or read book Deregulation of Electric Utilities written by Georges Zaccour and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 353 pages. Available in PDF, EPUB and Kindle. Book excerpt: Deregulation of Electric Utilities reviews the main issues relating to the changing environment in the utility industry. Topics covered in depth include compensation for stranded costs, efficiency gains, institutional design, pricing, economics of scale, and network externalities. In addition, this book assesses early experiences in electricity deregulation in continental Europe, New Zealand, North America, and the United Kingdom.
Book Synopsis Markets, Pricing, and Deregulation of Utilities by : Michael A. Crew
Download or read book Markets, Pricing, and Deregulation of Utilities written by Michael A. Crew and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: Markets, Pricing, and Deregulation of Utilities examines the effects of deregulation on the energy and telecommunications industries in an economic environment that has changed dramatically since deregulation was first introduced in those industries several years ago. The contributors to this book discuss the aspects of deregulation that appear to be succeeding and those that seem to be failing. Within that framework, they offer insight as to the possible next stages of regulatory restructuring and reform. The contents of this book provide a strong theoretical base leading to a better understanding of markets, pricing, and deregulation by utility managers, regulators, and economists.
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.
Book Synopsis Antitrust Aspects of Electricity Deregulation by : United States. Congress. House. Committee on the Judiciary
Download or read book Antitrust Aspects of Electricity Deregulation written by United States. Congress. House. Committee on the Judiciary and published by . This book was released on 1997 with total page 170 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Transmission Pricing and Incentives for Investments Under Uncertainty in the Deregulated Power Industry by : Jean-Pierre Frederic Léotard
Download or read book Transmission Pricing and Incentives for Investments Under Uncertainty in the Deregulated Power Industry written by Jean-Pierre Frederic Léotard and published by . This book was released on 1999 with total page 149 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Deregulated Electricity Structures and Smart Grids by : Baseem Khan
Download or read book Deregulated Electricity Structures and Smart Grids written by Baseem Khan and published by CRC Press. This book was released on 2022-04-19 with total page 331 pages. Available in PDF, EPUB and Kindle. Book excerpt: The goals of restructuring of the power sector are competition and operating efficiency in the power industry that result in reliable, economical, and quality power supply to consumers. This comprehensive reference text provides an in-depth insight into these topics. Deregulated Electricity Structures and Smart Grids discusses issues including renewable energy integration, reliability assessment, stability analysis, reactive power compensation in smart grids, and harmonic mitigation, in the context of the deregulated smart electricity market. It covers important concepts including AC and DC grid modelling, harmonics mitigation and reactive power compensation in the deregulated smart grid, and extraction of energy from renewable energy sources under the deregulated electricity market with the smart grid. The text will be useful for graduate students and professionals in the fields of electrical engineering, electronics and communication engineering, renewable energy, and clean technologies.
Book Synopsis The Competitive Effects of Transmission Capacity in a Deregulated Electricity Industry by : Severin Borenstein
Download or read book The Competitive Effects of Transmission Capacity in a Deregulated Electricity Industry written by Severin Borenstein and published by . This book was released on 1997 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: In an unregulated electricity generation market, the degree to which generators in" different locations compete with one another depends on the capacity to transmit electricity" between the locations. We study the impact of transmission capacity on competition among" generators. We show that there may be no relationship between the effect of a transmission line" in spurring competition and the actual electricity that flows on the line. We then investigate the" equilibria that are likely to result as transmission lines between previously unconnected locations" are built and expanded. We demonstrate that limited transmission capacity can give a firm the" incentive to restrict its output in order to congest transmission into its area of dominance. This" analysis is applied to a model of California's forthcoming deregulated electricity market. Our" results indicate that at least one firm could have an incentive to strategically induce transmission" congestion and that relatively small investments in transmission may yield surprisingly large" payoffs in terms of increased competition.
Book Synopsis Deregulation, Innovation and Market Liberalization by : L. Lynne Kiesling
Download or read book Deregulation, Innovation and Market Liberalization written by L. Lynne Kiesling and published by Routledge. This book was released on 2008-09-03 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book delves into regulatory and technological change affecting the electricity industry and provides a previously unexplored synthesis of new institutional economics, experimental economics, evolutionary economics, and network theory.
Book Synopsis Engineering IT-Enabled Sustainable Electricity Services by : Marija Ilic
Download or read book Engineering IT-Enabled Sustainable Electricity Services written by Marija Ilic and published by Springer Science & Business Media. This book was released on 2013-06-12 with total page 558 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sustainable energy services to customers - a balanced choice and coordination of energy generated by traditional and alternative sources - are the subject of this new innovative book. The myriad factors involved in modeling an effective sustainable power system are overwhelming. The “Green Islands” project represents a decade of work by over a dozen researchers who have developed a model designed to utilize the potential of distributed clean resources. The key is the proper use of Information Technology (IT). Sited on two islands in the Azores, the project developed the model of careful forecasting of demand and supply, down to the minute, coordinating the output of conventional power plants, wind energy, fly wheels, hydroelectricity, demand reduction, and even plug-in electric vehicles to take full advantage of the clean resources available. The energy contingencies of the remote islands are not unique. The issues of integrating promising clean technologies, such as wind, into a complex power grid are challenging in geographically far-flung, island-scale, power systems. Model-based sensing, communications, and decision-making algorithms to coordinate adaptive load management (ALM) could enable customers to utilize just-in-time (JIT), just-in-place (JIP), and just-in-context (JIC) energy resources. The distribution of flexible and efficient energy to customers is the goal. The model the authors have developed could change the way power portfolios are built. A new perspective for optimization of green energy is presented in this book. Additional data provided online via Springer represents a repository of real-world electric energy systems and its IT-enabled smarts.
