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Author :
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (139 download)
Download or read book Dynamic Competition and Arbitrage in Electricity Markets: The Role of Financial Players written by and published by . This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ignacia Mercadal
Publisher :
ISBN 13 :
Total Pages : 80 pages
Book Rating : 4.:/5 (13 download)
Download or read book Dynamic Competition and Arbitrage in Electricity Markets written by Ignacia Mercadal and published by . This book was released on 2018 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: I study the role of purely financial players in electricity markets, where they trade alongside physical buyers and sellers. In this context, physical sellers intertemporally price discriminate, leading to price differences that financial traders arbitrage, thus restricting producers' market power. Using detailed individual data, I examine physical and financial firms' response to regulation that exogenously increased financial trading. I show that the effect of financial traders on generators' market power depends on whether firms are in a static Nash equilibrium or not. I then develop a structural test of static Nash equilibrium and show the null of static Nash does not hold during the period of reduced financial trading. To implement the test, I present a new method to study the competitive structure of electricity markets using machine learning tools to define markets. I find that increased financial trading reduced generators' market power and increased consumer surplus.
Author : Reynolds
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (133 download)
Download or read book Measuring market power in wholesale electricity markets : a Dynamic competition approach written by Reynolds and published by . This book was released on with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Petter L. Skantze
Publisher : Springer Science & Business Media
ISBN 13 : 146151701X
Total Pages : 220 pages
Book Rating : 4.4/5 (615 download)
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 2012-12-06 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: The challenges currently facing particIpants m competitive electricity markets are unique and staggering: unprecedented price volatility, a crippling lack of historical market data on which to test new modeling approaches, and a continuously changing regulatory structure. Meeting these challenges will require the knowledge and experience of both the engineering and finance communities. Yet the two communities continue to largely ignore each other. The finance community believes that engineering models are too detailed and complex to be practically applicable in the fast changing market environment. Engineers counter that the finance models are merely statistical regressions, lacking the necessary structure to capture the true dynamic properties of complex power systems. While both views have merit, neither group has by themselves been able to produce effective tools for meeting industry challenges. The goal of this book is to convey the fundamental differences between electricity and other traded commodities, and the impact these differences have on valuation, hedging and operational decisions made by market participants. The optimization problems associated with these decisions are formulated in the context of the market realities of today's power industry, including a lack of liquidity on forward and options markets, limited availability of historical data, and constantly changing regulatory structures.
Author : Anna Cretì
Publisher : Cambridge University Press
ISBN 13 : 1107185653
Total Pages : 369 pages
Book Rating : 4.1/5 (71 download)
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.
Author : Jean-Michel Glachant
Publisher : Edward Elgar Publishing
ISBN 13 : 184980480X
Total Pages : 335 pages
Book Rating : 4.8/5 (498 download)
Download or read book Competition, Contracts and Electricity Markets written by Jean-Michel Glachant and published by Edward Elgar Publishing. This book was released on 2011 with total page 335 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book fills a gap in the existing literature by dealing with several issues linked to long-term contracts and the efficiency of electricity markets. These include the impact of long-term contracts and vertical integration on effective competition, generation investment in risky markets, and the challenges for competition policy principles. On the one hand, long-term contracts may contribute to lasting generation capability by allowing for a more efficient allocation of risk. On the other hand, they can create conditions for imperfect competition and thus impair short-term efficiency. The contributors – prominent academics and policy experts with inter-disciplinary perspectives – develop fresh theoretical and practical insights on this important concern for current electricity markets. This highly accessible book will strongly appeal to both academic and professional audiences including scholars of industrial, organizational and public sector economics, and competition and antitrust law. It will also be of value to regulatory and antitrust authorities, governmental policymakers, and consultants in electricity law and economics.
Author : Clara Poletti
Publisher : Edward Elgar Publishing
ISBN 13 : 0857933965
Total Pages : 235 pages
Book Rating : 4.8/5 (579 download)
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.
Author : Hung-po Chao
Publisher : Springer Science & Business Media
ISBN 13 : 1461555477
Total Pages : 213 pages
Book Rating : 4.4/5 (615 download)
Download or read book Designing Competitive Electricity Markets written by Hung-po Chao and published by Springer Science & Business Media. This book was released on 2013-12-01 with total page 213 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors are prominent economists, operation researchers, and engineers who have been instrumental in the development of the conceptual framework for electric power restructuring both in the United States and in other countries. Rather than espousing a particular market design for the industry's future, each author focuses on an important issue or set of issues and tries to frame the questions for designing electricity markets using an international perspective. The book focuses on the economic and technical questions important in understanding the industry's long-term development rather than providing immediate answers for the current political debates on industry competition.
Author : Sebastian Eyre
Publisher :
ISBN 13 : 9781783479771
Total Pages : 0 pages
Book Rating : 4.4/5 (797 download)
Download or read book Competition and Regulation in Electricity Markets written by Sebastian Eyre and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Featuring an original introduction by the editors, these carefully-selected essays explore the main issues surrounding competition and regulation in electricity markets. The industry is experiencing irresistible forces of change, driven by energy policy objectives; a reassessment of market regulation in the face of high-energy prices; and the response to consumer pressure to agree on what constitutes a fair price for energy. This volume identifies the key articles that underpin the debate across the industries supply chain (generation, supply and networks) from a regulatory perspective (including market power and incentive regulation). The collection then considers the overall impact of liberalisation and future developments.
Author : Joseph L. Welch, PE
Publisher : Lulu.com
ISBN 13 : 0557160170
Total Pages : 224 pages
Book Rating : 4.5/5 (571 download)
Download or read book Competitive Electricity Markets: The Power of Choice written by Joseph L. Welch, PE and published by Lulu.com. This book was released on 2009 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: Critique of the US Electricity Industry. Analysis of derailed industry deregulation initiatives. Sketches a new, competitively structured Energy Policy Template.
Author : Derek W. Bunn
Publisher : John Wiley & Sons
ISBN 13 :
Total Pages : 368 pages
Book Rating : 4.:/5 (321 download)
Download or read book Modelling Prices in Competitive Electricity Markets written by Derek W. Bunn and published by John Wiley & Sons. This book was released on 2004-04-02 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: Electricity markets are structurally different to other commodities, and the real-time dynamic balancing of the electricity network involves many external factors. Because of this, it is not a simple matter to transfer conventional models of financial time series analysis to wholesale electricity prices. The rationale for this compilation of chapters from international authors is, therefore, to provide econometric analysis of wholesale power markets around the world, to give greater understanding of their particular characteristics, and to assess the applicability of various methods of price modelling. Researchers and professionals in this sector will find the book an invaluable guide to the most important state-of-the-art modelling techniques which are converging to define the special approaches necessary for unravelling and forecasting the behaviour of electricity prices. It is a high-quality synthesis of the work of financial engineering, industrial economics and power systems analysis, as they relate to the behaviour of competitive electricity markets.
Author : Fereidoon Sioshansi
Publisher : Elsevier
ISBN 13 : 0080557716
Total Pages : 625 pages
Book Rating : 4.0/5 (85 download)
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
Author : Michael A. Einhorn
Publisher : Springer Science & Business Media
ISBN 13 : 9401113688
Total Pages : 286 pages
Book Rating : 4.4/5 (11 download)
Download or read book From Regulation to Competition: New frontiers in electricity markets written by Michael A. Einhorn and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: Electric utilities throughout the world continue to face new challenges involving ownership, market structure, and regulation. There are three related issues at hand. First, should ownership be private or public? Second, what operations should be integrated and where is competition feasible? Third, where is regulation necessary and can it be made more efficient? This volume bears directly upon these concerns. The book contains two sections. The first six articles discuss the British electricity experiment that has privatized and disintegrated the nation's generation, transmission, and distribution companies, introduced market competition for power purchases, and implemented incentive regulation for monopolized transmission and distribution grids. The remaining articles focus on the theater in which significant microeconomic issues will continue to emerge, most immediately in the U.K. and U.S.A. -- the coordination and pricing of transmission.
Author : René Aïd
Publisher : Springer
ISBN 13 : 3319083953
Total Pages : 107 pages
Book Rating : 4.3/5 (19 download)
Download or read book Electricity Derivatives written by René Aïd and published by Springer. This book was released on 2015-01-14 with total page 107 pages. Available in PDF, EPUB and Kindle. Book excerpt: Offering a concise but complete survey of the common features of the microstructure of electricity markets, this book describes the state of the art in the different proposed electricity price models for pricing derivatives and in the numerical methods used to price and hedge the most prominent derivatives in electricity markets, namely power plants and swings. The mathematical content of the book has intentionally been made light in order to concentrate on the main subject matter, avoiding fastidious computations. Wherever possible, the models are illustrated by diagrams. The book should allow prospective researchers in the field of electricity derivatives to focus on the actual difficulties associated with the subject. It should also offer a brief but exhaustive overview of the latest techniques used by financial engineers in energy utilities and energy trading desks.
Author : David Watts
Publisher :
ISBN 13 :
Total Pages : 278 pages
Book Rating : 4.:/5 (891 download)
Download or read book Competition and Equilibria in Electricity Markets Based on Two-settlement System written by David Watts and published by . This book was released on 2007 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Carlos Ocaña
Publisher : OECD
ISBN 13 :
Total Pages : 168 pages
Book Rating : 4.3/5 (91 download)
Download or read book Competition in Electricity Markets written by Carlos Ocaña and published by OECD. This book was released on 2001 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyses the development of choice and competition in the Electricity Supply Industry (ESI). Drawing on a review of the international experience, it describes the main approaches that are being developed, discusses the key issues in the effective reform of electricity markets and provides an assessment of the emerging approach to reform. The book is written from the perspective of regulators and policy makers. It seeks to answer the question: what is an effective regulatory framework for competition in electricity markets?
Author :
Publisher :
ISBN 13 : 9789264192768
Total Pages : pages
Book Rating : 4.1/5 (927 download)
Download or read book Energy Market Reform Competition in Electricity Markets written by and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
