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Assessment Of Transmission Congestion For Major Electricity Markets In The Us
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Book Synopsis Assessment of Transmission Congestion for Major Electricity Markets in the US by : Santosh G. Raikar
Download or read book Assessment of Transmission Congestion for Major Electricity Markets in the US written by Santosh G. Raikar and published by . This book was released on 2001 with total page 9 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper details the estimated congestion rent collected by the Independent System Operators (ISO) since their inception in different electricity markets. The electricity markets analyzed are: New York Power Pool, California Power Exchange, and Pennsylvania-Jersey-Maryland (PJM) power pool. The paper describes the significant assumptions underlying the calculations and attempts to delineate the implications of the assumptions. It is observed that the congestion rent calculations are practically accurate for the California Power Exchange since most of the data pertaining to the inter-zonal transmission power flow and the inter-zonal price differential is readily available. On the contrary, the congestion rent estimation for the New York ISO involves significant assumptions. However, it can be shown that the results are reasonably accurate. The efforts for the similar calculations for the congestion rent for PJM electricity power markets proved to be futile. It would not be unfair to comment that when compared to its peer electricity markets, PJM severely lacks transparency in terms of disclosing information pertaining to the transmission congestion rent calculations.
Book Synopsis Evaluation of Transmission Congestion Impacts on Electricity Markets by : Paola Ivonne Caro-Ochoa
Download or read book Evaluation of Transmission Congestion Impacts on Electricity Markets written by Paola Ivonne Caro-Ochoa and published by . This book was released on 2003 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Electricity Transmission Congestion Costs by : Joseph H. Eto
Download or read book Electricity Transmission Congestion Costs written by Joseph H. Eto and published by . This book was released on 2003 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recently, independent system operators (ISOs) and others have published reports on the costs of transmission congestion. The magnitude of congestion costs cited in these reports has contributed to the national discussion on the current state of U.S. electricity transmission system and whether it provides an adequate platform for competition in wholesale electricity markets. This report reviews reports of congestion costs and begins to assess their implications for the current national discussion on the importance of the U.S. electricity transmission system for enabling competitive wholesale electricity markets. As a guiding principle, we posit that a more robust electricity system could reduce congestion costs; and thereby, (1) facilitate more vibrant and fair competition in wholesale electricity markets, and (2) enable consumers to seek out the lowest prices for electricity. Yet, examining the details suggests that, sometimes, there will be trade-offs between these goals. Therefore, it is essential to understand who pays, how much, and how do they benefit in evaluating options (both transmission and non-transmission alternatives) to address transmission congestion. To describe the differences among published estimates of congestion costs, we develop and motivate three ways by which transmission congestion costs are calculated in restructured markets. The assessment demonstrates that published transmission congestion costs are not directly comparable because they have been developed to serve different purposes. More importantly, critical information needed to make them more comparable, for example in order to evaluate the impacts of options to relieve congestion, is sometimes not available.
Book Synopsis Market Power and Transmission Congestion in the Italian Electricity Market by : Simona Bigerna
Download or read book Market Power and Transmission Congestion in the Italian Electricity Market written by Simona Bigerna and published by . This book was released on 2014 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: Analysis of market power in electricity markets is relevant for understanding the competitive development of the industry's restructuring and liberalization process. Because the existing literature lacks adequate consideration of line transmission congestion, this paper sets forth a new approach to measuring market power in the Italian Power Exchange (IPEX) by explicitly taking into account transmission line congestion. We construct the residual demand curve to disentangle the measure of unilateral market power from congestion rent for the main Italian generators during the period of April 2004 to December 2007. In Italy, this was a period of stable transmission network structure. Following the approach of Wolak (2003, 2009), we measure the unilateral market power with the Lerner Index (LI) computed as the inverse of the residual demand elasticity. In conclusion, the correct modeling of the residual demand curve including transmission congestions allows us to compute the zonal LI and therefore more accurately measure the market power when congestion occurs. Our results show that various generators exercise market power in only some zones, which provides us with a deeper understanding of the IPEX and better support for designing appropriate market surveillance and competition regulation.
Book Synopsis The Effect of the Transmission Grid on Market Power by :
Download or read book The Effect of the Transmission Grid on Market Power written by and published by . This book was released on 1997 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: If competition could extend without hindrance through the entire extent of an electrically connected power grid, the US would have just two electricity markets, each with a uniform price. These markets would be competitive indeed. Unfortunately, losses and congestion present barriers to competition and thereby provide the likelihood of significantly increased market power. This paper begins the analysis of congestion as it affects the physical extent of markets and thereby affects the degree of market power. This is new territory; very little has previously been written in this area. Although the theoretical developments reported here rely on complex economic analysis, and although the market behaviors described are extremely subtle, several broad generalizations relevant to policy analysis can be made. From these generalizations one major policy conclusion can be drawn: In an unregulated market it will be socially beneficial to build a grid that is more robust than what is optimal in a regulated environment. Unused capacity may be needed. For a line to support full competition it may need to have a capacity that is much greater than the flow that will take place on it under full competition. Markets do not have sharp boundaries. Even with only one line the two busses may be in different regions, the same region, or partially in each other's region. Increasing capacity is more effective on a small line. If connecting two busses with a very strong line will reduce market power, then the first MW of connecting capacity will have the most impact and each additional MW will have less. A congested line will cut a market into two non-competing regions. In each region the generators will markup according to the elasticity of the demand in only their region. A generator may reduce output in order to congest a line and increase its market power.
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 America's Energy Future by : National Research Council
Download or read book America's Energy Future written by National Research Council and published by National Academies Press. This book was released on 2010-01-15 with total page 736 pages. Available in PDF, EPUB and Kindle. Book excerpt: For multi-user PDF licensing, please contact customer service. Energy touches our lives in countless ways and its costs are felt when we fill up at the gas pump, pay our home heating bills, and keep businesses both large and small running. There are long-term costs as well: to the environment, as natural resources are depleted and pollution contributes to global climate change, and to national security and independence, as many of the world's current energy sources are increasingly concentrated in geopolitically unstable regions. The country's challenge is to develop an energy portfolio that addresses these concerns while still providing sufficient, affordable energy reserves for the nation. The United States has enormous resources to put behind solutions to this energy challenge; the dilemma is to identify which solutions are the right ones. Before deciding which energy technologies to develop, and on what timeline, we need to understand them better. America's Energy Future analyzes the potential of a wide range of technologies for generation, distribution, and conservation of energy. This book considers technologies to increase energy efficiency, coal-fired power generation, nuclear power, renewable energy, oil and natural gas, and alternative transportation fuels. It offers a detailed assessment of the associated impacts and projected costs of implementing each technology and categorizes them into three time frames for implementation.
Book Synopsis Electricity Transmission by : Matthew H. Brown
Download or read book Electricity Transmission written by Matthew H. Brown and published by National Council of Teachers of English. This book was released on 2004 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Transmission Congestion Management in California Electricity Market by : Aleksandr Kandybenko
Download or read book Transmission Congestion Management in California Electricity Market written by Aleksandr Kandybenko and published by . This book was released on 2000 with total page 118 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis An Empirical Analysis of The New York Independent System Operator's Transmission Congestion Contract Market by : Cameron Toole
Download or read book An Empirical Analysis of The New York Independent System Operator's Transmission Congestion Contract Market written by Cameron Toole and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The Transmission Congestion Contract (TCC) Market was initiated concurrently with the rollout of competitive electricity markets to provide buyers and sellers of wholesale electricity a means to hedge the locational price risk associated with their physical transactions. Procured through an auction process managed by the New York Independent System Operator (NYISO), these financial instruments known as transmission congestion contracts (TCCs) have become heavily traded by speculators. Increased market liquidity supposedly achieved by allowing speculation comes at a cost equal to the profits earned by speculators. Ultimately, ratepayers bear the cost of profits paid to speculators. This study analyzed NYISO TCC data during the years 2008-2013 and developed statistical models to identify speculator and hedger transaction characteristics. Estimates of net profit earned by known speculators and measures of liquidity provided by speculators were determined. We used auction awards data to develop a probability model to evaluate correlations between number of winning bidders and contract characteristics. Finally, Ordinary Least Squares regression is used to postulate profit drivers of TCCs. This analysis concludes that speculators may be earning substantial profits from subsets of intra-zonal TCCs not commonly used for hedging. Furthermore, we found a lack of multiple winning bidders with the same injection and withdraw nodes due to a vast number of possible TCC endpoint combinations.
Book Synopsis Policy Analysis in Transmission-constrained Electricity Markets by : Mostafa Sahraei-Ardakani
Download or read book Policy Analysis in Transmission-constrained Electricity Markets written by Mostafa Sahraei-Ardakani and published by . This book was released on 2013 with total page 165 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis California Transmission Congestion Assessment by : Jim Dyer
Download or read book California Transmission Congestion Assessment written by Jim Dyer and published by . This book was released on 2007 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Transmission Markets in the U.S. by :
Download or read book Transmission Markets in the U.S. written by and published by . This book was released on 1995 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis A Review of the Monitoring of Market Power by :
Download or read book A Review of the Monitoring of Market Power written by and published by . This book was released on 2005 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper surveys the literature and publicly available information on market power monitoring in electricity wholesale markets. After briefly reviewing definitions, strategies and methods of mitigating market power we examine the various methods of detecting market power that have been employed by academics and market monitors/regulators. These techniques include structural and behavioural indices and analysis as well as various simulation approaches. The applications of these tools range from spot market mitigation and congestion management through to long-term market design assessment and merger decisions. Various market-power monitoring units already track market behaviour and produce indices. Our survey shows that these units collect a large amount of data from various market participants and we identify the crucial role of the transmission system operators with their access to dispatch and system information. Easily accessible and comprehensive data supports effective market power monitoring and facilitates market design evaluation. The discretion required for effective market monitoring is facilitated by institutional independence.
Book Synopsis Transmission Congestion Management and Security Cost Optimization in Deregulated Electricity Markets by : Jiawei Zhao
Download or read book Transmission Congestion Management and Security Cost Optimization in Deregulated Electricity Markets written by Jiawei Zhao and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Probabilistic Transmission Congestion Forecasting by : Steven Lee
Download or read book Probabilistic Transmission Congestion Forecasting written by Steven Lee and published by . This book was released on 2012 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Improving Analytical Capabilities on Transmission Congestion in the Californian Wholesale Electricity Market by : Xujia Zhang
Download or read book Improving Analytical Capabilities on Transmission Congestion in the Californian Wholesale Electricity Market written by Xujia Zhang and published by . This book was released on 2015 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
