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Spot Pricing And The Energy Marketplace
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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 Spot Pricing and the Energy Marketplace by : Heike Huber
Download or read book Spot Pricing and the Energy Marketplace written by Heike Huber and published by . This book was released on 1991 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 Electricity Pricing in Transition by : Ahmad Faruqui
Download or read book Electricity Pricing in Transition written by Ahmad Faruqui and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: Electricity Pricing In Transition is written to address the new issues facing utilities, retailers, regulators, and customers in the changing electricity market. It is organized into five sections. Section I deals with the new restructured organization that has emerged from yesterday's vertically integrated, regulated monopoly company. Section II deals with issues in competitive pricing. Section III reviews the role of demand response and product design in today's chaotic marketplace. Given the single importance of California's energy crisis and the fact that it will be studied for years to come, Section IV is devoted to studying the lessons learned from this crisis. The final section of the book deals with markets and regulations. This book will provide practitioners with guidance on how to avoid the major pitfalls in pricing electricity while the market is in transition by drawing upon the insights and lessons learned from the experience of others that are documented in this book.
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 2001-10-31 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: The challenges facing participants in competitive electricity markets are staggering: high price volatility introduces significant financial risk into an industry accustomed to guaranteed rates of return, while illiquid forward markets prevent effective hedging strategies from being implemented. Valuation, Hedging and Speculation in Competitive Electricity Markets: A Fundamental Approach , examines the unique properties which separate electricity from other traded commodities, including the lack of economical storage, and the impact of a scarce transmission network. The authors trace the sources of uncertainties in the price of electricity to underlying physical and economic processes, and incorporate these into a bid-based model for electricity spot and forward prices. They also illustrate how insufficient market data can be circumvented by using a combination of price and load data in the marking- to-market process. The model is applied to three classes of problems central to the operation of any electric utility or power marketer; valuing generation assets, formulating dynamic hedging strategies for load serving obligations, and pricing transmission contracts and locational spread options. Emphasis is placed on the difference between trades which can be 'booked out' in the forward markets, and those which must be carried through to delivery. Lately, significant attention has been given to the role of regulators in mitigating excessive price levels in electricity markets. The authors conduct a quantitative analysis of the long-term effects of regulatory intervention through the use of price caps. By modeling the dynamic interplay between the observed price levels and the decision to invest in new generation assets, it is shown how such short term fixes can lead to long term deficits in the available generation capacity, and ultimately to market failures and blackouts.
Book Synopsis Comparison of Values of a Spot Market for Electricity by : Francis Labrune
Download or read book Comparison of Values of a Spot Market for Electricity written by Francis Labrune and published by . This book was released on 1984 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper is concerned with a market for electricity that has been successfully operating in Florida since 1978 -- the Florida Energy Broker provides an hourly spot market for energy traded at the wholesale level between utilities with bilateral contracts. The Florida Energy Broker is a central computer matching bids and offers made by participating utilities. Participating utilities as a whole realize important savings. In 1980 savings to utilities exceeded $40 million, roughly two percent of the total fuel bill. These savings are distributed to participating utilities according to a predefined policy. This paper compares the distribution of savings resulting from the Broker policy and two alternative policies: one is defined as the Shapely value applied to the Broker market considered as a cooperative game with possibilities of coalitions, another results from the application of the market clearing price which is the core of the previous game.
Book Synopsis Real Time Pricing and Deregulating the Electricity Market by : David Leinweber
Download or read book Real Time Pricing and Deregulating the Electricity Market written by David Leinweber and published by . This book was released on 1980 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: Real-time pricing of electricity may result in major efficiency improvements in the consumption and production of electric power. It can be realized by using current microelectronic technology to implement a dynamic power marketplace, with low entrance barriers and adaptive pricing reflecting the marginal costs of generation. A complex and interrelated set of technical, political, economic, and regulatory questions surround the notion of real-time pricing of electricity. They are briefly outlined in this paper. A current bibliography of material relevant to these studies is also included. (Author).
Book Synopsis Stochastic Modelling of Electricity and Related Markets by : Fred Espen Benth
Download or read book Stochastic Modelling of Electricity and Related Markets written by Fred Espen Benth and published by World Scientific. This book was released on 2008 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: The markets for electricity, gas and temperature have distinctive features, which provide the focus for countless studies. For instance, electricity and gas prices may soar several magnitudes above their normal levels within a short time due to imbalances in supply and demand, yielding what is known as spikes in the spot prices. The markets are also largely influenced by seasons, since power demand for heating and cooling varies over the year. The incompleteness of the markets, due to nonstorability of electricity and temperature as well as limited storage capacity of gas, makes spot-forward hedging impossible. Moreover, futures contracts are typically settled over a time period rather than at a fixed date. All these aspects of the markets create new challenges when analyzing price dynamics of spot, futures and other derivatives. This book provides a concise and rigorous treatment on the stochastic modeling of energy markets. OrnsteinOCoUhlenbeck processes are described as the basic modeling tool for spot price dynamics, where innovations are driven by time-inhomogeneous jump processes. Temperature futures are studied based on a continuous higher-order autoregressive model for the temperature dynamics. The theory presented here pays special attention to the seasonality of volatility and the Samuelson effect. Empirical studies using data from electricity, temperature and gas markets are given to link theory to practice. Sample Chapter(s). A Survey of Electricity and Related Markets (331 KB). Contents: A Survey of Electricity and Related Markets; Stochastic Analysis for Independent Increment Processes; Stochastic Models for the Energy Spot Price Dynamics; Pricing of Forwards and Swaps Based on the Spot Price; Applications to the Gas Markets; Modeling Forwards and Swaps Using the HeathOCoJarrowOCoMorton Approach; Constructing Smooth Forward Curves in Electricity Markets; Modeling of the Electricity Futures Market; Pricing and Hedging of Energy Options; Analysis of Temperature Derivatives. Readership: Researchers in energy and commodity markets, and mathematical finance.
Author :United States. Congress. Senate. Committee on Energy and Natural Resources Publisher : ISBN 13 : Total Pages :80 pages Book Rating :4.0/5 ( download)
Book Synopsis Wholesale Electricity Prices in California and the Western United States by : United States. Congress. Senate. Committee on Energy and Natural Resources
Download or read book Wholesale Electricity Prices in California and the Western United States written by United States. Congress. Senate. Committee on Energy and Natural Resources and published by . This book was released on 2001 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 2011-01-31 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 The Economics of Electricity Markets by : Clara Poletti
Download or read book The Economics of Electricity Markets written by Clara Poletti and published by Edward Elgar Publishing. This book was released on 2013-01-01 with total page 235 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Economics of Electricity Markets provides a cutting-edge analysis of the critical issues involved in the design and operation of electricity markets, as well as an assessment of alternative institutional arrangements that have either been implemented or are under discussion in Europe and the US. The book illustrates how a sound market design can render electricity trading and retailing very much like that of other commodities. Social and political concerns, rather than engineering or economics, are what make electricity markets 'special'. The expert contributors address a wide set of issues that arise when competition is introduced to the electricity industry, ranging from the design of spot and real-time power markets to alternative approaches to congestion management, from competition policy in wholesale electricity markets to the benefits and costs of retail competition, and from regulatory measures to ensure generation capacity adequacy to the politicization of generation investment decisions as a way of pursuing sustainability targets. This highly informative book will appeal to academics, students and researchers in the field of advanced energy economics, and will prove essential reading for energy regulators, professionals and executives wishing to explore the theoretical foundations underpinning their day-to-day activities.
Download or read book Putting a Price on Energy written by and published by ENERGY CHARTER SECRETARIAT. This book was released on 2007 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 The Econometrics of Energy Systems by : Jacques Girod
Download or read book The Econometrics of Energy Systems written by Jacques Girod and published by Springer. This book was released on 2006-12-14 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: The complexity and volatility of energy markets creates strong demand for quantitative analysis and econometric techniques. This book offers an introduction to the state of the art in econometric modelling applied to the most pertinent issues in today's energy markets for a better understanding of the working of energy systems and energy economics.
Book Synopsis Modeling Spot Markets for Electricity and Pricing Electricity Derivatives by : Yumei Ning
Download or read book Modeling Spot Markets for Electricity and Pricing Electricity Derivatives written by Yumei Ning and published by . This book was released on 2001 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 Energy Trading and Risk Management by : Felix Müsgens
Download or read book Energy Trading and Risk Management written by Felix Müsgens and published by Springer Nature. This book was released on with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt:
