WorldWideScience

Sample records for electricity market integration

  1. Integrating Renewables in Electricity Markets

    DEFF Research Database (Denmark)

    Morales González, Juan Miguel; Conejo, Antonio J.; Madsen, Henrik

    in the electricity market. • The development of procedures to enable demand response and to facilitate the integration of stochastic renewable units. This book is written in a modular and tutorial manner and includes many illustrative examples to facilitate its comprehension. It is intended for advanced...... such as: • The modeling and forecasting of stochastic renewable power production. • The characterization of the impact of renewable production on market outcomes. • The clearing of electricity markets with high penetration of stochastic renewable units. • The development of mechanisms to counteract...

  2. Integrating gas and electric markets and regulation

    International Nuclear Information System (INIS)

    Whitmore, C.S.

    1998-01-01

    The issues determining what energy companies must do to compete in an increasingly competitive energy market and what regulators must do to ensure fairness in competition were discussed. The similarities of gas and electric markets, and the factors driving their integration were highlighted. The importance of communications and customer service in the energy market and the nature of market power in the gas and electric industries was described. Three reasons were given why gas/electric mergers will be beneficial: (1) operating efficiency, (2) applying gas experience to electric markets, and (3) opportunity to exercise market power. Potential regulatory problems were also reviewed

  3. Interconnections and market integration in the Irish Single Electricity Market

    International Nuclear Information System (INIS)

    Nepal, Rabindra; Jamasb, Tooraj

    2012-01-01

    Interconnections can be an effective way to increase competition and improve market integration in concentrated wholesale electricity markets with limited number of participants. This paper examines the potential for interconnections and increasing market integration in the Irish Single Electricity Market (SEM). We use a time-varying Kalman filter technique to assess the degree of market integration between SEM and other large, mature and interconnected wholesale electricity markets in Europe including Great Britain (GB). The results indicate no market integration between SEM and other European markets except for Elspot and GB. We show that the current state of market integration between SEM and GB is just 17% indicating potential to improve market integration via increased interconnector capacity. The results indicate that liquidity of wholesale markets might be a crucial factor in the market integration process while our results remain inconclusive in determining whether increased trade of renewables can improve market integration. - Highlights: ► We assess the degree of market integration between SEM and other EU electricity markets. ► Our results indicate no market integration between SEM and other European markets except for Elspot and GB. ► We show that the current state of market integration between SEM and GB is just 17%.

  4. Grid Integration of Electric Vehicles in Open Electricity Markets

    DEFF Research Database (Denmark)

    congestion management scenario within electric distribution networks •optimal EV charging management with the fleet operator concept and smart charging management •EV battery technology, modelling and tests •the use of EVs for balancing power fluctuations from renewable energy sources, looking at power......Presenting the policy drivers, benefits and challenges for grid integration of electric vehicles (EVs) in the open electricity market environment, this book provides a comprehensive overview of existing electricity markets and demonstrates how EVs are integrated into these different markets...... of the technologies for EV integration, this volume is informative for research professors and graduate students in power systems; it will also appeal to EV manufacturers, regulators, EV market professionals, energy providers and traders, mobility providers, EV charging station companies, and policy makers....

  5. The benefits of integrating European electricity markets

    International Nuclear Information System (INIS)

    Newbery, David; Strbac, Goran; Viehoff, Ivan

    2016-01-01

    The European Commission's Target Electricity Model (TEM) aims to integrate EU electricity markets. This paper estimates the potential benefit of coupling interconnectors to increase the efficiency of trading day-ahead, intra-day and balancing services across borders. Further gains are possible by eliminating unscheduled flows and avoiding the curtailment of renewables with better market design. In the short run the gains could be as high as €3.9 billion/yr, more than 100% of the current gains from trade. About one-quarter of this total comes from day-ahead coupling and another third from shared balancing. If shared balancing is so valuable, completing the TEM becomes more urgent, and regulators should ensure these gains are paid to interconnectors to make the needed investment in the cross-border links more commercially profitable. - Highlights: •The benefits from day-ahead market coupling are €1 bn/yr. •Intra-day and balancing benefits add a further €1.3 bn/yr. •Total benefits including removing unscheduled flows could be €3.4 bn/yr. •Sharing balancing and reserves is high priority. •Rewarding interconnectors for all services reduces barriers to expansion.

  6. Electricity market models and RES integration: The Greek case

    International Nuclear Information System (INIS)

    Simoglou, Christos K.; Biskas, Pandelis N.; Vagropoulos, Stylianos I.; Bakirtzis, Anastasios G.

    2014-01-01

    This paper presents an extensive analysis of the Greek electricity market for the next 7-year period (2014–2020) based on an hour-by-hour simulation considering five different RES technologies, namely wind, PV, small hydro, biomass and CHP with emphasis on PV integration. The impact of RES penetration on the electricity market operation is evaluated under two different models regarding the organization of the Greek wholesale day-ahead electricity market: a mandatory power pool for year 2014 (current market design) and a power exchange for the period 2015–2020 (Target Model). An integrated software tool is used for the simulation of the current and the future day-ahead market clearing algorithm of the Greek wholesale electricity market. Simulation results indicate the impact of the anticipated large-scale RES integration, in conjunction with each market model, on specific indicators of the Greek electricity market in the long-term. - Highlights: • Analysis of the Greek electricity market for the next 7-year period (2014–2020) based on hour-by-hour simulation. • Five different RES technologies are considered with emphasis on PV integration. • A power pool (for 2014) and a power exchange (for 2015–2020) are considered. • Various market indicators are used for the analysis of the impact of the RES integration on the Greek electricity market. • Two alternative tariff schemes for the compensation of the new ground-mounted PV units from 2015 onwards are investigated

  7. Efficient integration of renewable energies in the German electricity market

    International Nuclear Information System (INIS)

    Nabe, C.A.

    2006-01-01

    Liberalisation of the electricity sector aims to carry out coordination tasks within the system by markets and market prices. This study examines how markets need to be designed to carry out coordination tasks caused by integration of renewable energies in an efficient way. This question is applied to the German electricity system and recommendations are derived from identified deficits. The examination uses the structure-conduct-performance approach of industrial organisation economics. Integration of renewable energies does not result in entirely new coordination tasks but complicates those that exist in any electricity supply system. Within the short-term coordination tasks provision and operation of reserve capacity is affected by renewable energies. Long-term coordination means that the relation between fixed and variable costs of generators as well as generator flexibility has to be adjusted to the characteristics of renewable energies. The relevant short-term coordination task with the network is congestion management. In the long run costs of grid expansion and permanent congestion management have to be balanced. For the execution of short-run coordination tasks integrated and centralised market architectures are superior to decentralised architectures. The increase of short-term coordination tasks due to renewable energies caused by inflexibilities of consumers and conventional generators results in more information that has to be considered. By centralising that information in one market, an increase in productive efficiency can be obtained. In Germany the increased coordination tasks are determined by the integration of wind generators into the electricity system. The present German market architecture results in inefficiencies in short-term coordination. This is demonstrated by an analysis of procedural rules and prices of the ancillary service markets. They demonstrate that market performance is low and significant deviations from competitive prices

  8. Essays on the integration of renewables in electricity markets

    Energy Technology Data Exchange (ETDEWEB)

    Knaut, Andreas

    2017-07-06

    The thesis sheds light onto the integration of renewable energy generation into electricity markets based on five articles. The first article is concerned with the optimal strategies of renewable producers selling electricity in sequential markets. A model is developed in which renewable generators trade their production in two sequential markets, which can be regarded as the day-ahead and intraday markets. Trading in the first market takes place under uncertainty about the final production level of renewable generation. The results show that it might be optimal for renewable producers to sell less than the expected quantity in the day-ahead market. The second article focuses on the high variability in production from renewable electricity and its effect on prices. A model for the allocation of hourly and quarter-hourly electricity generation is developed, assuming that the participation in the market for quarter-hourly products is restricted. Restricted participation in the market for quarter-hourly products may have caused welfare losses of about EUR 96 million in 2015. In the third article, the hourly price elasticity of demand for electricity in the German day-ahead market is empirically estimated. The results indicate a high level of variation of price elasticity of demand throughout the day ranging from -0.02 to -0.13 depending on the time of the day in the German day-ahead market in 2015. The fourth article is concerned with the tariff design in retail markets for electricity. It focuses on the inefficiency from time-invariant pricing in combination with an increasing share of renewable energies. The last article finally takes a closer look at the balancing power market and the impact of different market designs on efficiency and competition. Based on a developed model, it shows that shorter tender frequencies could lower the costs of balancing power procurement by up to 15 %. While market concentration decreases in many markets with shorter provision

  9. Essays on the integration of renewables in electricity markets

    International Nuclear Information System (INIS)

    Knaut, Andreas

    2017-01-01

    The thesis sheds light onto the integration of renewable energy generation into electricity markets based on five articles. The first article is concerned with the optimal strategies of renewable producers selling electricity in sequential markets. A model is developed in which renewable generators trade their production in two sequential markets, which can be regarded as the day-ahead and intraday markets. Trading in the first market takes place under uncertainty about the final production level of renewable generation. The results show that it might be optimal for renewable producers to sell less than the expected quantity in the day-ahead market. The second article focuses on the high variability in production from renewable electricity and its effect on prices. A model for the allocation of hourly and quarter-hourly electricity generation is developed, assuming that the participation in the market for quarter-hourly products is restricted. Restricted participation in the market for quarter-hourly products may have caused welfare losses of about EUR 96 million in 2015. In the third article, the hourly price elasticity of demand for electricity in the German day-ahead market is empirically estimated. The results indicate a high level of variation of price elasticity of demand throughout the day ranging from -0.02 to -0.13 depending on the time of the day in the German day-ahead market in 2015. The fourth article is concerned with the tariff design in retail markets for electricity. It focuses on the inefficiency from time-invariant pricing in combination with an increasing share of renewable energies. The last article finally takes a closer look at the balancing power market and the impact of different market designs on efficiency and competition. Based on a developed model, it shows that shorter tender frequencies could lower the costs of balancing power procurement by up to 15 %. While market concentration decreases in many markets with shorter provision

  10. Proceedings of the CERI 2005 electricity conference : markets, integration, resistance

    International Nuclear Information System (INIS)

    2005-01-01

    This conference was attended by power industry decision makers who face continuing challenges regarding changes in electricity market mechanisms, pricing options, and power generation and transmission alternatives. It provided an opportunity to review energy markets in North American with particular reference to supply and demand and opportunities for traditional or new generation technologies based on renewable energy sources including wind powered generation. The presentations focused on transmission issues, market design and capacity issues as well as market power and pricing. The integration of wind energy into the power grid as a measure to diversity the power generation portfolio in North America was also discussed along with hydrothermal synergies and interconnections. The role of wind, coal and nuclear power in future North American energy markets was also discussed along with their environmental consequences. tabs., figs

  11. Electric vehicle integration in a real-time market

    DEFF Research Database (Denmark)

    Pedersen, Anders Bro

    with an externally simulated model of the power grid, it is be possible, in real-time, to simulate the impact of EV charging and help to identify bottlenecks in the system. In EDISON the vehicles are aggregated using an entity called a Virtual Power Plant (VPP); a central server monitoring and controlling...... the distributed energy resources registered with it, in order to make them appear as a single producer in the eyes of the market. Although the concept of a VPP is used within the EcoGrid EU project, the idea of more individual control is introduced through a new proposed real-time electricity market, where......This project is rooted in the EDISON project, which dealt with Electrical Vehicle (EV) integration into the existing power grid, as well as with the infrastructure needed to facilitate the ever increasing penetration of fluctuating renewable energy resources like e.g. wind turbines. In the EDISON...

  12. A bargaining model of regulated markets' integration with an application to electricity supply market

    International Nuclear Information System (INIS)

    Wei Jingyuan; Smeers, Y.; Canon, E.

    1995-01-01

    An integrated market organized by regulated electric utilities is modelled. It is assumed that, given a price vector for the exchange of electricity between each pair of neighboring utilities, utilities independently maximize their own domestic social welfare subject to the zero profit constraint. An equilibrium price vector for exchanges among utilities is defined as the one which clears the exchanges for all pair of business partners. A single piecewise linear model is formulated for computing market equilibria. The model is used to simulate the electricity supply market organized by 11 western European countries

  13. Electricity market integration: Redistribution effect versus resource reallocation

    International Nuclear Information System (INIS)

    Finon, Dominique; Romano, Elliot

    2009-01-01

    Summary: In countries with a significant amount of low variable cost generation capacity, the integration of electricity markets poses a real problem with respect to consumers' interests. In such cases, consumers face a significant price rise compared with consumers in countries where low-cost capacities are lacking. This paper analyses this problem both in the short and long term, focusing on a market dominated by nuclear and hydro production. When there are too many restrictions on new capacity developments in low-cost technologies, market integration will lead to surplus redistribution without any production reallocation. This really makes it legitimate to contemplate redistributive compensations towards local consumers in countries which benefited from low variable cost generators at the moment of liberalisation. This paper examines two alternative ways of rent reallocation, one by income with a windfall tax on nuclear producers and the allocation of this revenue to energy efficiency policy funds, and another by price by giving drawing rights on the existing nuclear generators' production to small commercial and domestic consumers, at a level equivalent to the one necessary to maintain regulated prices.

  14. Electricity market design for facilitating the integration of wind energy. Experience and prospects with the Australian National Electricity Market

    International Nuclear Information System (INIS)

    MacGill, Iain

    2010-01-01

    Australia has been an early and enthusiastic adopter of both electricity industry restructuring and market-based environmental regulation. The Australian National Electricity Market (NEM) was established in 1999 and Australia also implemented one of the world's first renewable energy target schemes in 2001. With significant recent growth in wind generation, Australia provides an interesting case for assessing different approaches to facilitating wind integration into the electricity industry. Wind project developers in Australia must assess both potential energy market and Tradeable Green Certificate income streams when making investments. Wind-farm energy income depends on the match of its uncertain time varying output with the regional half hourly market price; a price that exhibits daily, weekly and seasonal patterns and considerable uncertainty. Such price signals assist in driving investments that maximize project value to the electricity industry as a whole, including integration costs and benefits for other participants. Recent NEM rule changes will formally integrate wind generation in the market's scheduling processes while a centralized wind forecasting system has also been introduced. This paper outlines experience to date with wind integration in the NEM, describes the evolution of market rules in response and assesses their possible implications for facilitating high future wind penetrations. (author)

  15. The integrated North American electricity market : investment in electricity infrastructure and supply : a North American concern

    International Nuclear Information System (INIS)

    Egan, T.

    2006-03-01

    Electricity supply and infrastructure solutions for the United States and Canada were discussed along with the availability of fuel supply and the diversity of fuel sources. This document focuses on investment in transmission infrastructure in order to assure sustainable generation sources for both countries while addressing constraints along the border, which will allow for enhanced cross-border trade. The Canadian Electricity Association has proposed 3 areas of bi-national cooperation to promote effective investment in electricity infrastructure and supply in the North American market: (1) cooperation in enhancing electricity supply, (2) cooperation in enhancing transmission infrastructure, and (3) cooperation in addressing air quality issues and climate change. The report discussed electricity generation by fuel source in Canada and the United States; status of restructuring in Canada; as well as the economic and environmental benefits of an integrated market. It also discussed regulatory and policy matters affecting the investment environment. Last, it discussed the need for opportunities for investment in the North American market, distribution and demand side measures, and cooperation in enhancing transmission infrastructure. It was concluded that growing electricity demand in both the United States and Canada requires investment in electricity infrastructure and supply in the future. Resolving electricity infrastructure and supply needs must be an international concern, requiring the full engagement and cooperation of both countries. 1 tab, 2 figs

  16. Market integration of wind power in electricity system balancing

    DEFF Research Database (Denmark)

    Sorknæs, Peter; Andersen, Anders N.; Tang, Jens

    2013-01-01

    In most countries markets for electricity are divided into wholesale markets on which electricity is traded before the operation hour, and real-time balancing markets to handle the deviations from the wholesale trading. So far, wind power has been sold only on the wholesale market and has been...... known to increase the need for balancing. This article analyses whether wind turbines in the future should participate in the balancing markets and thereby play a proactive role. The analysis is based on a real-life test of proactive participation of a wind farm in West Denmark. It is found...... that the wind farm is able to play a proactive role regarding downward regulation and thereby increase profits....

  17. Market integration among electricity markets and their major fuel source markets

    International Nuclear Information System (INIS)

    Mjelde, James W.; Bessler, David A.

    2009-01-01

    Dynamic price information flows among U.S. electricity wholesale spot prices and the prices of the major electricity generation fuel sources, natural gas, uranium, coal, and crude oil, are studied. Multivariate time series methods applied to weekly price data show that in contemporaneous time peak electricity prices move natural gas prices, which in turn influence crude oil. In the long run, price is discovered in the fuel sources market (except uranium), as these prices are weakly exogenous in a reduced rank regression representation of these energy prices.

  18. Integration and shock transmissions across European electricity forward markets

    International Nuclear Information System (INIS)

    Bunn, Derek W.; Gianfreda, Angelica

    2010-01-01

    New results are presented relating to the integration of the French, German, British, Dutch and Spanish power markets at day-ahead, week-ahead, one month-ahead and two month-ahead lead times. Overall, there is evidence of market integration, increasing over time, despite an underlying inefficiency in each market with respect to the forward and spot price convergence. The spatial analysis, on a financial dimension, is undertaken using causality tests, cointegration and impulse-response techniques, for both price levels and volatilities. In general we find less influence of the size and proximity of neighbouring markets than other studies, more integration at baseload than peak, and, surprisingly, less integration in forwards than spot prices. (author)

  19. Elspot: Nord Pool Spot Integration in MASCEM Electricity Market Simulator

    DEFF Research Database (Denmark)

    Fernandes, Ricardo; Santos, Gabriel; Praca, Isabel

    2014-01-01

    The energy sector in industrialized countries has been restructured in the last years, with the purpose of decreasing electricity prices through the increase in competition, and facilitating the integration of distributed energy resources. However, the restructuring process increased the complexi...

  20. Integrated Cost Allocation of Transmission Usage under Electricity Markets

    Directory of Open Access Journals (Sweden)

    Hermagasantos Zein

    2012-08-01

    Full Text Available Cost allocation of transmission usage on the power networks is an important issue especially in the modern electricity market mechanism. In this context, all costs that have been embedded in the transmission, embedded cost, should be covered by the transmission users. This paper follows general methods, where generators are fullyresponsible to cover the embedded cost. It proposes a method to determine the cost allocation of transmission usage based on decomposition through the superposition techinique to determine power flow contributions from an integrated base case of the results of the power flow calculations of all transactions, bilateral and nonbilateral contracts. Mathematically, the applied formulations are illustrated clearly in this paper. The proposed method has been tested with 5-bus system and the results are much different compared to a few of the published methods. This is shown by the test results on the 5 bus system. The published methods produce total power flow contributions in each line is greater than the actual. And they earn total revenues approximately 11.6% greater than the embedded cost. While on the proposed method, the power flow contribu tions are equal to the actual and the revenues are equal to the embedded cost. It shows also that the proposed method gives results as expected.

  1. Independent Electricity Market Operator integration management participant technical reference manual

    International Nuclear Information System (INIS)

    1999-01-01

    The document provides potential participants with the essential technical information to permit them to participate in the IMO-administered markets, and is not intended to be a complete technical reference manual for all issues within the realm of electricity production, distribution, or consumption. Written for the participants, it provides only that information which is relevant to the participant for interfacing with the IMO and participating in the market. Written as a generic guide, all the information contained within it may not be relevant to all the participants. The document's intent is to provide participants with a description of the various facilities and interfaces required by market participants to take part in the IMO-administered markets. The document supplements the market rules and provides installation, set-up, and configuration information for the various tools and facilities that will be required for market participation as a supplier, carrier/delivery (transmitter/distributor), generator, or consumer in the market. Aspects considered include: participant workstation specifications, dispatch workstation specification, message exchange, remote terminal unit specification, AGC operational RTU specification, real time network connection specification, telephone connection specification, revenue administration specification, funds administration specification, data catalogues, market information, power grid connection requirements, and appendices

  2. Vertical integration and market power: A model-based analysis of restructuring in the Korean electricity market

    International Nuclear Information System (INIS)

    Bunn, Derek W.; Martoccia, Maria; Ochoa, Patricia; Kim, Haein; Ahn, Nam-Sung; Yoon, Yong-Beom

    2010-01-01

    An agent-based simulation model is developed using computational learning to investigate the impact of vertical integration between electricity generators and retailers on market power in a competitive wholesale market setting. It is observed that if partial vertical integration creates some market foreclosure, whether this leads to an increase or decrease in market power is situation specific. A detailed application to the Korean market structure reveals this to be the case. We find that in various cases, whilst vertical integration generally reduces spot prices, it can increase or decrease the market power of other market generators, depending upon the market share and the technology segment of the market, which is integrated, as well as the market concentrations before and after the integration.

  3. Vertical integration and market power. A model-based analysis of restructuring in the Korean electricity market

    Energy Technology Data Exchange (ETDEWEB)

    Bunn, Derek W.; Martoccia, Maria; Ochoa, Patricia [London Business School, London (United Kingdom); Kim, Haein; Ahn, Nam-Sung; Yoon, Yong-Beom [Korean Electric Power Corporation, Seoul (Korea)

    2010-07-15

    An agent-based simulation model is developed using computational learning to investigate the impact of vertical integration between electricity generators and retailers on market power in a competitive wholesale market setting. It is observed that if partial vertical integration creates some market foreclosure, whether this leads to an increase or decrease in market power is situation specific. A detailed application to the Korean market structure reveals this to be the case. We find that in various cases, whilst vertical integration generally reduces spot prices, it can increase or decrease the market power of other market generators, depending upon the market share and the technology segment of the market, which is integrated, as well as the market concentrations before and after the integration. (author)

  4. Vertical integration and market power: A model-based analysis of restructuring in the Korean electricity market

    Energy Technology Data Exchange (ETDEWEB)

    Bunn, Derek W., E-mail: dbunn@london.ed [London Business School, London (United Kingdom); Martoccia, Maria; Ochoa, Patricia [London Business School, London (United Kingdom); Kim, Haein; Ahn, Nam-Sung; Yoon, Yong-Beom [Korean Electric Power Corporation, Seoul (Korea, Republic of)

    2010-07-15

    An agent-based simulation model is developed using computational learning to investigate the impact of vertical integration between electricity generators and retailers on market power in a competitive wholesale market setting. It is observed that if partial vertical integration creates some market foreclosure, whether this leads to an increase or decrease in market power is situation specific. A detailed application to the Korean market structure reveals this to be the case. We find that in various cases, whilst vertical integration generally reduces spot prices, it can increase or decrease the market power of other market generators, depending upon the market share and the technology segment of the market, which is integrated, as well as the market concentrations before and after the integration.

  5. Integration of multiple national markets for electricity: The case of Norway and Sweden

    International Nuclear Information System (INIS)

    Amundsen, Eirik S.

    2007-01-01

    During the second part of the 1990s the Nordic (Denmark, Finland, Norway and Sweden) countries have created a unique multinational market for electricity. This paper aims to analyse the degree of integration of the different national markets that constitute the Nordic electricity market. In particular the Norwegian and Swedish wholesale and retail electricity markets are analysed. The results suggest that the wholesale markets are well integrated. Thus prices differ significantly only during periods with unusually high or low supply of hydropower. However, the retail markets are not integrated to the same degree. Thus retail prices and trade margins differ significantly. Differences in the national electricity market legislation seem to be a key factor behind these differences. (author)

  6. Reassessing the integration of European electricity markets: A fractional cointegration analysis

    International Nuclear Information System (INIS)

    Menezes, Lilian M. de; Houllier, Melanie A.

    2016-01-01

    This study extends existing literature on the assessment of electricity market integration in Europe, by developing and testing hypotheses on the convergence of electricity wholesale prices, and adopting a time-varying fractional cointegration analysis. In addition, the potential impacts of some special events that may affect system capacity (new interconnection, market coupling, increase in share of intermittent generation) on spot and forward markets are considered and evaluated. Daily spot prices from February 2000 to March 2013 of nine European electricity spot markets (APX-UK, APX-NL, Belpex, EPEX-FR, EPEX-DE, IPEX, Nordpool, Omel and OTE) and month-ahead prices in four markets (French, British, German and Dutch) from November 2007 to December 2012 are investigated. Results show that unit root tests, which are generally used in the literature to test market integration, are inadequate for assessing electricity spot market convergence, because spot prices are found to be fractionally integrated and mean-reverting time series. Furthermore, spot price behaviour and their association with different markets change over time, reflecting changes in the EU electrical system. One-month-ahead prices, by contrast, were found to have become more resilient to shocks and to follow more stable trends. - Highlights: • We examine electricity market convergence in the EU. • Common price dynamics are affected by changes in interconnection and capacity. • Forward markets have increased in resilience. • Germany's nuclear plant closures had an adverse effect on most European electricity markets.

  7. Integration of electricity markets in Europe. Relevant issues for Italy

    International Nuclear Information System (INIS)

    Creti, Anna; Fumagalli, Eileen; Fumagalli, Elena

    2010-01-01

    In this paper, we analyze the current trend towards a higher degree of market integration in Europe and identify those aspects that are particularly relevant for Italy. The Italian involvement in this process appears comparatively modest. A welfare analysis, which focuses specifically on the integration of the Italian market, will certainly be a useful support to any policy decision. We argue that, given the peculiarities of the Italian market design, a volume coupling solution could avoid, at the moment, the costs of what could be a significant harmonization effort and, in the end, it might constitute the best short-term strategy. This proposal should be adequately considered, taking into account the complexity of designing an efficient volume-only coordination procedure. (author)

  8. Germany's nuclear power plant closures and the integration of electricity markets in Europe

    International Nuclear Information System (INIS)

    Menezes, Lilian M. de; Houllier, Melanie A.

    2015-01-01

    This paper examines the potential implications of national policies that lead to a sudden increase of wind power in the electricity mix for interconnected European electricity markets. More specifically, it examines market integration before and after the closures of eight nuclear power plants that occurred within a period of a few months in Germany during 2011. The short- and- long run interrelationships of daily electricity spot prices, from November 2009 to October 2012, in: APX-ENDEX, BELPEX, EPEX-DE, EPEX-FR, NORDPOOL, OMEL and SWISSIX; and wind power in the German system are analysed. Two MGARCH (Multivariate Generalized Autoregressive Conditional Heteroscedasticity) models with dynamic correlations are used to assess spot market behaviour in the short run, and a fractional cointegration analysis is conducted to investigate changes in the long-run behaviour of electricity spot prices. Results show: positive time-varying correlations between spot prices in markets with substantial shared interconnector capacity; a negative association between wind power penetration in Germany and electricity spot prices in the German and neighbouring markets; and, for most markets, a decreasing speed in mean reversion. -- Highlights: •Associations between spot prices and wind power are time-varying. •Greater spot price and volatility associations across markets are observed. •In the long run, the German market is less integrated with neighbouring markets. •Policies on a local electricity mix can affect spot prices in connected markets

  9. Power system and market integration of renewable electricity

    Science.gov (United States)

    Erdmann, Georg

    2017-07-01

    This paper addresses problems of power generation markets that arise under high shares of intermittent generation. After discussing the economic fundamentals of wind and photovoltaic investments, the paper introduces the concept of the "Merit order effect of renewables". According to this concept electricity prices on wholesale power markets become smaller in periods during which large volumes of wind and photovoltaic generation is available and squeeze out relative expensive gas-fired power generation. The merit order effect of renewables has a couple of consequences. Among others it challenges the profitability of conventional power generation. If such generation capacities are still necessary, at least during a transitory period, a capacity mechanism may be put in place that generates an additional stream of income to the operators of conventional power generators. Another consequence of growing intermittent power generation is the need for concepts and technologies that deal with excess generation. Among these concepts are virtual and physical power storage capacities. In the last parts of the paper models are presented that are able to analyze these concepts from an economic point of view.

  10. Power system and market integration of renewable electricity

    Directory of Open Access Journals (Sweden)

    Erdmann Georg

    2017-01-01

    Full Text Available This paper addresses problems of power generation markets that arise under high shares of intermittent generation. After discussing the economic fundamentals of wind and photovoltaic investments, the paper introduces the concept of the “Merit order effect of renewables”. According to this concept electricity prices on wholesale power markets become smaller in periods during which large volumes of wind and photovoltaic generation is available and squeeze out relative expensive gas-fired power generation. The merit order effect of renewables has a couple of consequences. Among others it challenges the profitability of conventional power generation. If such generation capacities are still necessary, at least during a transitory period, a capacity mechanism may be put in place that generates an additional stream of income to the operators of conventional power generators. Another consequence of growing intermittent power generation is the need for concepts and technologies that deal with excess generation. Among these concepts are virtual and physical power storage capacities. In the last parts of the paper models are presented that are able to analyze these concepts from an economic point of view.

  11. Integration of renewable energies in the electricity market; Integration erneuerbarer Energien in den Strommarkt

    Energy Technology Data Exchange (ETDEWEB)

    Schwarz, Eike

    2014-08-15

    Capacity markets such as the decentralised performance market as demanded by the electricity economy put wind power and photovoltaic plants at a disadvantage. The author therefore argues against the establishment of a capacity market and in favour of making better use of the electricity market's already existing significant potential for further development, specifically through: flexibilisation of exchange electricity markets, closer coupling between exchange electricity markets and control energy markets, and incorporation of electricity consumers into the market mechanism. This would at the same time serve to meet a decisive prerequisite for a smooth transition from today's to tomorrow's electricity supply, and that is a single electricity market for conventional power plants as well as electricity production plants fuelled with renewable resources, whether or not entailing fuel costs, in which all types of plants compete with each other on a level playing field. If a capacity market should prove necessary after all in a few years, it can still be set up. Safeguarding security of supply is of vital importance for both the economy and society at large. For emergencies a strategic reserve with a capacity of several GW should therefore be created, and the Ordinance on Reserve Power Plants should be amended to this effect. The establishment by the Renewable Energy Law of 2014 of an obligation of direct marketing for wind power and photovoltaic plants appears to have been premature considering the deficits of the electricity market and the large fleet of inflexible conventional power plants. What is needed now is a near-term flexibilisation of the electricity market and reform of the CO{sub 2} emissions trading scheme.

  12. Marketing Integration for the Implementation of Territorial and Sectoral Approach to the Management of Electricity Development

    OpenAIRE

    Ivan A. Unshchikov; Rashida T. Unshchikova

    2017-01-01

    This article contains a proposal for a new approach to management of development of electric power in the multi-level governance system. To improve the effectiveness of the multi-level governance is offered by the wide use of marketing. Tools of investment marketing can be used to match demand and supply, using all levels of management. To do this, the subjects at every level of government carried out an identical procedure horizontal integration of sectoral and territorial marketing. Isolate...

  13. Impact of the carbon price on the integrating European electricity market

    International Nuclear Information System (INIS)

    Aatola, Piia; Ollikainen, Markku; Toppinen, Anne

    2013-01-01

    We study the impact of the carbon price on the integrating electricity market in the EU. Our theoretical framework suggests that the price of carbon has a positive but uneven impact on electricity prices depending on the marginal production plant. The carbon price may increase price differences in the short run. We apply time series analysis on daily forward data from 2003 to 2011 and investigate whether we can find empirical evidence for our analytical findings. Our results support the hypotheses that integration in electricity prices has increased over time and that the carbon price has a positive but uneven impact on the integration of prices. - Highlights: • We model the integrating European electricity market under emissions trading scheme. • We examine the impact of carbon price on the electricity market prices. • We test theoretical hypotheses with econometric models. • Results show carbon price has a positive but uneven impact on electricity prices. • Integration among electricity prices has increased during 2003–2011

  14. Global electricity transformation: The critical need for integrated market design and risk management research

    International Nuclear Information System (INIS)

    Hung-po Chao

    2006-01-01

    The past three decades transformed the electricity industry. The essential goals of liberalization have been to lower costs, improve reliability, and stimulate investment and innovations through establishment of competitive electricity markets, while also relying on market mechanisms to provide creative solutions to environmental and security problems. In many instances, these goals have been achieved, but the occurrence of some spectacular market failures have brought into question the whole restructuring effort. This paper reviews recent experiences with market reform and concludes that a significant cause of failure has been the rush to unbundle vertically integrated utilities without sufficient consideration of alternative ways to manage the risk of electricity market restructuring. In particular, there is a critical need for integrated market design and risk management research to improve the process of market transformation by taking a more evolutionary approach to discover a 'Third Way' above vertical integration and full unbundling. Such research can offer a crucial feedback link to the restructuring process by identifying important lessons to be learned from past experience and developing new analytical tools to help introduce more successful market designs for the future. (author)

  15. The integrated North American electricity market : assuring an adequate supply of electricity through cross-border cooperation and trade

    International Nuclear Information System (INIS)

    Egan, T.

    2005-03-01

    The purpose of this paper is to support cooperation and discussion of the long-term sufficiency of the electricity trading system between Canada and the United States. It discusses the integrated electricity market including details on exports and imports of electricity, major transmission interconnections, the economic and environmental benefits of an integrated market and electricity generation statistics by fuel source. The paper also discusses several areas of cooperation and presents several recommendations including: greater dialogue on regional supply requirements; mandatory reliability standards; coordinated regulatory approaches to new cross-border transmission; the role of emerging generation and transmission technologies; opportunities to exchange experience and learning on demand-side measures; coordinated strategies to manage greenhouse gas and other air pollutants; and, critical infrastructure protection. The paper concludes that the integration between Canada and the United States will only increase as energy demand and trade continue to grow, making close cooperation between the two countries a necessity. 6 figs

  16. Efficient integration of renewable energies in the German electricity market; Effiziente Integration erneuerbarer Energien in den deutschen Elektrizitaetsmarkt

    Energy Technology Data Exchange (ETDEWEB)

    Nabe, C.A.

    2006-07-01

    Liberalisation of the electricity sector aims to carry out coordination tasks within the system by markets and market prices. This study examines how markets need to be designed to carry out coordination tasks caused by integration of renewable energies in an efficient way. This question is applied to the German electricity system and recommendations are derived from identified deficits. The examination uses the structure-conduct-performance approach of industrial organisation economics. Integration of renewable energies does not result in entirely new coordination tasks but complicates those that exist in any electricity supply system. Within the short-term coordination tasks provision and operation of reserve capacity is affected by renewable energies. Long-term coordination means that the relation between fixed and variable costs of generators as well as generator flexibility has to be adjusted to the characteristics of renewable energies. The relevant short-term coordination task with the network is congestion management. In the long run costs of grid expansion and permanent congestion management have to be balanced. For the execution of short-run coordination tasks integrated and centralised market architectures are superior to decentralised architectures. The increase of short-term coordination tasks due to renewable energies caused by inflexibilities of consumers and conventional generators results in more information that has to be considered. By centralising that information in one market, an increase in productive efficiency can be obtained. In Germany the increased coordination tasks are determined by the integration of wind generators into the electricity system. The present German market architecture results in inefficiencies in short-term coordination. This is demonstrated by an analysis of procedural rules and prices of the ancillary service markets. They demonstrate that market performance is low and significant deviations from competitive prices

  17. Integrating intermittent energy sources in liberalized electricity markets: from technical costs to economic penalties as a result of market rules

    International Nuclear Information System (INIS)

    Menanteau, Ph.; Finon, D.; Lamy, M.L.

    2003-06-01

    With the aim of preventing climatic change and ensuring the security of energy supplies, the recent European Directive on renewable energy production sources is aimed at bringing about a very substantial increase in electricity production from renewable sources in Europe by the 2010 horizon. Generally speaking, production of electricity from renewable sources will be assured by biomass and wind, and to a lesser extent by micro hydro, technologies whose characteristics are very different from the point of view of their integration into the electricity system. Their inclusion in the electricity systems will cause problems because of the intermittent nature of the production, a factor that does not enter into the paradigms of producers, system operators or regulators. The problems raised by the integration of intermittent production are technical in nature (risk of non-availability in peak periods, the need for additional reserves) and will incur adjustment costs, but the way in which the electricity markets function will impose economic penalties generally more substantial than the added technical costs. In this paper are examined in succession: (i) the additional costs raised by intermittence; (ii) the economic penalties imposed by the operating rules of de-regulated electricity markets with electricity production from renewable sources included, with particular reference to the case of the British and Nordic markets; and (iii) an analysis of the options that could limit the gap between the additional cost of intermittent production for the system and the adjustment surcharges imposed by the electricity markets, with the aim of reducing the tension between the deregulation of the electricity market and promoting the development of renewable energy sources. (A.L.B.)

  18. Integration of wind power in the liberalized Dutch electricity market

    NARCIS (Netherlands)

    Ummels, B.C.; Gibescu, M.; Kling, W.L.; Paap, G.C.

    2006-01-01

    Wind power is becoming a large-scale electricity generation technology in a number of European countries, including the Netherlands.Owing to the variability and unpredictability of wind power production, large-scale wind power can be foreseen to have large consequences for balancing generation and

  19. Integrating wind output with bulk power operations and wholesale electricity markets

    International Nuclear Information System (INIS)

    Hirst, E.

    2002-01-01

    Wind farms have three characteristics that complicate their widespread application as an electricity resource: limited control, unpredictability and variability. Therefore the integration of wind output into bulk power electric systems is qualitatively different from that of other types of generators. The electric system operator must move other generators up or down to offset the time-varying wind fluctuations. Such movements raise the costs of fuel and maintenance for these other generators. Not only is wind power different, it is new. The operators of bulk power systems have limited experience in integrating wind output into the larger system. As a consequence, market rules that treat wind fairly - neither subsidizing nor penalizing its operation - have not yet been developed. The lack of data and analytical methods encourages wind advocates and sceptics to rely primarily on their biases and beliefs in suggesting how wind should be integrated into bulk power systems. This project helps fill this data and analysis gap. Specifically, it develops and applies a quantitative method for the integration of a wind resource into a large electric system. The method permits wind to bid its output into a short-term forward market (specifically, an hour-ahead energy market) or to appear in real time and accept only intrahour and hourly imbalance payments for the unscheduled energy it delivers to the system. Finally, the method analyses the short-term (minute-to-minute) variation in wind output to determine the regulation requirement the wind resource imposes on the electrical system. (author)

  20. The welfare effects of integrating renewable energy into electricity markets

    Science.gov (United States)

    Lamadrid, Alberto J.

    The challenges of deploying more renewable energy sources on an electric grid are caused largely by their inherent variability. In this context, energy storage can help make the electric delivery system more reliable by mitigating this variability. This thesis analyzes a series of models for procuring electricity and ancillary services for both individuals and social planners with high penetrations of stochastic wind energy. The results obtained for an individual decision maker using stochastic optimization are ambiguous, with closed form solutions dependent on technological parameters, and no consideration of the system reliability. The social planner models correctly reflect the effect of system reliability, and in the case of a Stochastic, Security Constrained Optimal Power Flow (S-SC-OPF or SuperOPF), determine reserve capacity endogenously so that system reliability is maintained. A single-period SuperOPF shows that including ramping costs in the objective function leads to more wind spilling and increased capacity requirements for reliability. However, this model does not reflect the inter temporal tradeoffs of using Energy Storage Systems (ESS) to improve reliability and mitigate wind variability. The results with the multiperiod SuperOPF determine the optimum use of storage for a typical day, and compare the effects of collocating ESS at wind sites with the same amount of storage (deferrable demand) located at demand centers. The collocated ESS has slightly lower operating costs and spills less wind generation compared to deferrable demand, but the total amount of conventional generating capacity needed for system adequacy is higher. In terms of the total system costs, that include the capital cost of conventional generating capacity, the costs with deferrable demand is substantially lower because the daily demand profile is flattened and less conventional generation capacity is then needed for reliability purposes. The analysis also demonstrates that the

  1. Electrifying integration Electricity production and the South East Europe regional energy market

    International Nuclear Information System (INIS)

    Hooper, Elizabeth; Medvedev, Andrei

    2009-01-01

    The paper provides an overview of the generation of electricity in 10 countries in South East Europe during 1995-2004. Using the latest available statistics, we explore the potential of the nascent integration of the electricity markets in South East Europe. We conduct a cross-country analysis of electricity production based on different types of fuel used. The region has a low level of gasification combined with few nuclear power generation facilities, while some countries heavily rely on hydro electric generation. Differences in countries' resource endowment and the possibility of intertemporal substitution between electricity generated from various fuels could stimulate a regional trade in electricity. As an alternative to nationally independent energy policy, regional trade could displace a proportion of the substantial investment in generation facilities required to avert serious supply shortages. Finally, we consider the environmental impact of electricity generation, and identify some of the key trade-offs between different policy objectives. (author)

  2. Integration scenarios of Demand Response into electricity markets: Load shifting, financial savings and policy implications

    International Nuclear Information System (INIS)

    Feuerriegel, Stefan; Neumann, Dirk

    2016-01-01

    Demand Response allows for the management of demand side resources in real-time; i.e. shifting electricity demand according to fluctuating supply. When integrated into electricity markets, Demand Response can be used for load shifting and as a replacement for both control reserve and balancing energy. These three usage scenarios are compared based on historic German data from 2011 to determine that load shifting provides the highest benefit: its annual financial savings accumulate to €3.110 M for both households and the service sector. This equals to relative savings of 2.83% compared to a scenario without load shifting. To improve Demand Response integration, the proposed model suggests policy implications: reducing bid sizes, delivery periods and the time-lag between market transactions and delivery dates in electricity markets. - Highlights: •Comparison of 3 scenarios to integrate Demand Response into electricity markets. •These are: optimize procurement, offer as control reserve, avoid balancing energy. •Ex post simulation to quantify financial impact and policy implications. •Highest savings from load shifting with a cost reduction of 3%. •Model suggests reducing bid sizes, delivery periods and time lags as policy issues.

  3. The integrated North American electricity market : Enhancing opportunities for cross border trading and environmental performance

    International Nuclear Information System (INIS)

    Egan, T.

    2003-03-01

    The stability of the North American electricity industry has always been recognized, in both Canada and the United States. However, this sector is facing uncertainty mainly due to lack of clarity concerning market rules, environmental challenges, and the very poor investment climate. The principal thesis that was developed for this paper used those three factors as context and justification. The thesis is as follows: the evolving North American market is more and more regionally integrated, and that continued and growing regional integration will lessen uncertainty. All problems cannot be solved simply through increased regional integration, but it represents a step in the right direction in that it leads to greater efficiency, increased reliability, more predictable regulation and policy, lower costs and greater environmental benefits. The result is increased investor confidence and reduced uncertainty in the marketplace. To assist in the strengthening of this integration, the Canadian Electricity Association made seven recommendations. They were: (1) increased focus on harmonizing market rules and increased participation in the Regional Transmission Organizations, (2) development of North American strategy for the management of greenhouse gas emissions resulting from electricity generation, (3) identification of oportunites to further harmonize management of other air emissions, (4) creation of consistent methodology for the measurement of environmental performance, (5) enhancement of cross-border and interprovincial transmission transfer capability, (6) coordination of critical infrastructure protection, and (7) support of self-governing international organization for the development and enforcement of mandatory reliability standards for the evolving electricity industry. 5 figs

  4. The Integrated Nordic End-User Electricity Market - Feasibility and identified obstacles

    International Nuclear Information System (INIS)

    2006-02-01

    The report identifies the various obstacles that currently exist which prevent the formation of a truly integrated Nordic electricity end-user market. The obstacles have been divided into three categories: technical, regulatory and commercial. NordREG proposes that to further integrate the Nordic end-user electricity markets, a number of differences of technical, legal and market nature ought to be gradually harmonized in order to facilitate market entry and cross-border trade. Technical obstacles: Especially the following problems related to the data and metering systems should be solved: Transferred messages, information and message timing should be harmonised; Message format should be decided; A common data transmission protocol should be specified. New solutions like web-based solutions should be studied; The identification of the final customers' metering point should be harmonised. Regulatory obstacles: The identified regulatory obstacles relate to three areas, namely the division of tasks between monopoly and competitive activities, the operation and duties of distribution network operators including how these are regulated, and the legal framework to provide protection for small end users. On the basis of the review of regulatory obstacles, the following recommendations are made: The principles of neutrality and the way these principles are being supervised by the regulator is a key issue to improve the functioning of the Nordic end-user market. Regulators should seek to harmonise regulation on neutrality and put it high on the agenda in a forthcoming process of market integration; The procedures for switching supplier should be as smooth, easy and quick as possible. It is also important that suppliers, especially the new market entrants, can participate in reliable, transparent and fluent switching practices, since this lowers the threshold for entering other than domestic electricity market. The switching model should be harmonised for the Nordic end

  5. The Integrated Nordic End-User Electricity Market - Feasibility and identified obstacles

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2006-02-15

    The report identifies the various obstacles that currently exist which prevent the formation of a truly integrated Nordic electricity end-user market. The obstacles have been divided into three categories: technical, regulatory and commercial. NordREG proposes that to further integrate the Nordic end-user electricity markets, a number of differences of technical, legal and market nature ought to be gradually harmonized in order to facilitate market entry and cross-border trade. Technical obstacles: Especially the following problems related to the data and metering systems should be solved: Transferred messages, information and message timing should be harmonised; Message format should be decided; A common data transmission protocol should be specified. New solutions like web-based solutions should be studied; The identification of the final customers' metering point should be harmonised. Regulatory obstacles: The identified regulatory obstacles relate to three areas, namely the division of tasks between monopoly and competitive activities, the operation and duties of distribution network operators including how these are regulated, and the legal framework to provide protection for small end users. On the basis of the review of regulatory obstacles, the following recommendations are made: The principles of neutrality and the way these principles are being supervised by the regulator is a key issue to improve the functioning of the Nordic end-user market. Regulators should seek to harmonise regulation on neutrality and put it high on the agenda in a forthcoming process of market integration; The procedures for switching supplier should be as smooth, easy and quick as possible. It is also important that suppliers, especially the new market entrants, can participate in reliable, transparent and fluent switching practices, since this lowers the threshold for entering other than domestic electricity market. The switching model should be harmonised for the Nordic end

  6. Essays on the efficient integration of renewable energies into electricity markets

    International Nuclear Information System (INIS)

    Obermueller, Frank

    2018-01-01

    The dissertation ''Essay on the Efficient Integration of Renewable Energies into Electricity Markets'' consists of five research articles which shed light on the efficient integration of renewable energies into electricity markets. A major share of renewable energies has characteristics which differ from classical conventional generation technologies. The uncertain weather-dependent characteristics in combination with almost-zero marginal generation costs raise new challenges to some parts of the electricity system. On the other side, the promotion of renewable energies seems promising to achieve the Energy Transition targets and reduce Germany's CO 2 -emissions. This becomes relevant in the light of the 2015 UN Climate Change Conference which negotiated the Paris Agreement to tackle climate change, e.g. by the restriction of global warming to a maximum of 2 C, and translate to CO 2 -reduction efforts, especially for the carbon-dioxide intense electricity sectors. The five research papers focusing on different aspects and potential inefficiencies of the renewable energy market integration. The focus can roughly be separated into temporal and regional efficiency examinations. The temporal efficiency is subject to paper 1, paper 2 and paper 3. The regional efficiency is subject to paper 5 which is based on the preliminary findings and the generated dataset in paper 4.

  7. Essays on the efficient integration of renewable energies into electricity markets

    Energy Technology Data Exchange (ETDEWEB)

    Obermueller, Frank

    2018-01-09

    The dissertation ''Essay on the Efficient Integration of Renewable Energies into Electricity Markets'' consists of five research articles which shed light on the efficient integration of renewable energies into electricity markets. A major share of renewable energies has characteristics which differ from classical conventional generation technologies. The uncertain weather-dependent characteristics in combination with almost-zero marginal generation costs raise new challenges to some parts of the electricity system. On the other side, the promotion of renewable energies seems promising to achieve the Energy Transition targets and reduce Germany's CO{sub 2}-emissions. This becomes relevant in the light of the 2015 UN Climate Change Conference which negotiated the Paris Agreement to tackle climate change, e.g. by the restriction of global warming to a maximum of 2 C, and translate to CO{sub 2}-reduction efforts, especially for the carbon-dioxide intense electricity sectors. The five research papers focusing on different aspects and potential inefficiencies of the renewable energy market integration. The focus can roughly be separated into temporal and regional efficiency examinations. The temporal efficiency is subject to paper 1, paper 2 and paper 3. The regional efficiency is subject to paper 5 which is based on the preliminary findings and the generated dataset in paper 4.

  8. Marketing Integration for the Implementation of Territorial and Sectoral Approach to the Management of Electricity Development

    Directory of Open Access Journals (Sweden)

    Ivan A. Unshchikov

    2017-06-01

    Full Text Available This article contains a proposal for a new approach to management of development of electric power in the multi-level governance system. To improve the effectiveness of the multi-level governance is offered by the wide use of marketing. Tools of investment marketing can be used to match demand and supply, using all levels of management. To do this, the subjects at every level of government carried out an identical procedure horizontal integration of sectoral and territorial marketing. Isolated, and then analyzed and evaluated by territorial competitive position and industry competitive position. Then, based on analysis and evaluation of produced competitive position produced directions of development and formed investment proposals. After conducted custom PESTanalysis, which is proposed to use as a tool for analysis and evaluation of investment demand subjects of external control levels and, in fact, is a vertically integrated marketing in the multi-level governance system. With this approach, each actively involved in the mechanism of the subject of management has the ability to efficiently allocate "through the corridors" of investment development, to select appropriate investment proposals. Goal setting, recording and evaluation of the competitive position in the performance of the above procedures can effectively compare and coordinate investment demand with investment proposals in the complex structure of multi-level governance. The use of horizontal and vertical integration of marketing in this system greatly increases the efficiency of management by taking into account the scale and evaluation of internal and external market factors.

  9. Integrating Variable Renewable Energy in Electric Power Markets: Best Practices from International Experience

    Energy Technology Data Exchange (ETDEWEB)

    Cochran, J.; Bird, L.; Heeter, J.; Arent, D. A.

    2012-04-01

    Many countries -- reflecting very different geographies, markets, and power systems -- are successfully managing high levels of variable renewable energy on the electric grid, including that from wind and solar energy. This study documents the diverse approaches to effective integration of variable renewable energy among six countries -- Australia (South Australia), Denmark, Germany, Ireland, Spain, and the United States (Western region-Colorado and Texas)-- and summarizes policy best practices that energy ministers and other stakeholders can pursue to ensure that electricity markets and power systems can effectively coevolve with increasing penetrations of variable renewable energy. Each country has crafted its own combination of policies, market designs, and system operations to achieve the system reliability and flexibility needed to successfully integrate renewables. Notwithstanding this diversity, the approaches taken by the countries studied all coalesce around five strategic areas: lead public engagement, particularly for new transmission; coordinate and integrate planning; develop rules for market evolution that enable system flexibility; expand access to diverse resources and geographic footprint of operations; and improve system operations. The ability to maintain a broad ecosystem perspective, to organize and make available the wealth of experiences, and to ensure a clear path from analysis to enactment should be the primary focus going forward.

  10. Modeling and analysis of a decentralized electricity market: An integrated simulation/optimization approach

    International Nuclear Information System (INIS)

    Sarıca, Kemal; Kumbaroğlu, Gürkan; Or, Ilhan

    2012-01-01

    In this study, a model is developed to investigate the implications of an hourly day-ahead competitive power market on generator profits, electricity prices, availability and supply security. An integrated simulation/optimization approach is employed integrating a multi-agent simulation model with two alternative optimization models. The simulation model represents interactions between power generator, system operator, power user and power transmitter agents while the network flow optimization model oversees and optimizes the electricity flows, dispatches generators based on two alternative approaches used in the modeling of the underlying transmission network: a linear minimum cost network flow model and a non-linear alternating current optimal power flow model. Supply, demand, transmission, capacity and other technological constraints are thereby enforced. The transmission network, on which the scenario analyses are carried out, includes 30 bus, 41 lines, 9 generators, and 21 power users. The scenarios examined in the analysis cover various settings of transmission line capacities/fees, and hourly learning algorithms. Results provide insight into key behavioral and structural aspects of a decentralized electricity market under network constraints and reveal the importance of using an AC network instead of a simplified linear network flow approach. -- Highlights: ► An agent-based simulation model with an AC transmission environment with a day-ahead market. ► Physical network parameters have dramatic effects over price levels and stability. ► Due to AC nature of transmission network, adaptive agents have more local market power than minimal cost network flow. ► Behavior of the generators has significant effect over market price formation, as pointed out by bidding strategies. ► Transmission line capacity and fee policies are found to be very effective in price formation in the market.

  11. Research document no. 24. The integration of european electric markets: from the national markets juxtaposition to the establishment of a regional market

    International Nuclear Information System (INIS)

    Finon, D.

    2000-11-01

    After the transcription of the electricity directive in national legislations, the European electricity market appears to be a vast set of juxtaposed markets which are weakly connected at the level of their wholesale contracts compartment. Referring to the technological peculiarities of electricity as a commodity, the paper identifies the direct conditions of regional integration of the electricity markets, those which would favour cross-border trade and allow to be near the normal functioning of a regional commodity market. The infrastructure network dependence and the need of a stringent technical coordination necessitate to unify the operation of the different systems and the rules of access, or at the least to come near this unification by strong coordination. A second major condition, which is not fully debated, is the increasing connexion of short-term markets, via daily physical trade and emergence of a European financial market, which could trade various standardised contracts referring to a single hourly spot price, or to prices in various delivery points. To reach such an integration, two paths are possible: either concentration into one single organised power exchange as the Nordic pool, or rules harmonization of the various power exchanges which would be a minimal requirement to allow arbitrations between them. (author)

  12. Retail margins and the effects of an integrated Nordic end user market for electricity

    Energy Technology Data Exchange (ETDEWEB)

    Damsgaard, Niclas; Roempoetti, Marie

    2007-09-15

    There is an ongoing discussion about the need for further and deeper integration of the Nordic electricity market. Following the Nordic Council of Minister's summit in Akureyri in 2004 this work has been intensified. NordREG and Nordel have produced several studies on the integration of the market. Work is currently being done on a Nordic common market platform for balancing services and a Nordic balancing agreement, the market design for a common market and a common model for supply switches and several other issues. This study should be seen in relationship with these other studies and we have deliberately aimed at avoiding overlaps. An integrated Nordic retail market for electricity would in principle imply a common market for 14 million customers served by several hundred retail companies. The question asked in this study is what are the benefits for the customers of such a development? In order to create a common Nordic market there are several barriers that needs to be overcome. There are technical barriers such as differences in IT-systems, regulatory barriers caused by differences in e.g. the responsibilities and the regulation of the DSOs and finally of course business barriers that exists for all cross-border businesses. A well-functioning Nordic retail market would lead to price equalisation - at least if the costs are equal. This would mean that particularly customers in areas with high retail margins could benefit from a joint Nordic market. Furthermore, dilution of market power could lead to more intense competition which in turn both could lead to lower costs and lower margins. In this report we focus on the possible direct effects on prices. In addition to this it is likely that there are efficiency gains, for instance through decreased costs in developing IT-systems etc. for a larger market which would decrease costs both for the suppliers and for DSOs. There might also be other economies-of-scales arising from a larger market. The possible

  13. Wholesale electricity markets in Europe

    International Nuclear Information System (INIS)

    Rios, J. L.

    2010-01-01

    Electricity Wholesale Markets provide efficient operation of power stations, facilitate hedging instruments for generators and retailers and deliver price signals for new investments. Despite having a common regulatory framework at European level whose last aim is a single electricity market, Wholesale markets have been unevenly developed in each Member State. The evolution form a spot-based market towards a forward-based market needs a certain level of liquidity, transparency and regulatory stability. Interconnections are the key element to promote the integration of electricity markets. To facilitate this, European Regional Initiatives have pushed regulatory harmonization between countries and market coupling projects. (Author)

  14. Integrating Variable Renewable Energy in Electric Power Markets: Best Practices from International Experience, Summary for Policymakers

    Energy Technology Data Exchange (ETDEWEB)

    Cochran, J.; Bird, L.; Heeter, J.; Arent, D. A.

    2012-04-01

    Many countries -- reflecting very different geographies, markets, and power systems -- are successfully managing high levels of variable renewable energy on the electric grid, including that from wind and solar energy. This document summarizes policy best practices that energy ministers and other stakeholders can pursue to ensure that electricity markets and power systems can effectively coevolve with increasing penetrations of variable renewable energy. There is no one-size-fits-all approach; each country studied has crafted its own combination of policies, market designs, and system operations to achieve the system reliability and flexibility needed to successfully integrate renewables. Notwithstanding this diversity, the approaches taken by the countries studied all coalesce around five strategic areas: lead public engagement, particularly for new transmission; coordinate and integrate planning; develop rules for market evolution that enable system flexibility; expand access to diverse resources and geographic footprint of operations; and improve system operations. This study also emphatically underscores the value of countries sharing their experiences. The more diverse and robust the experience base from which a country can draw, the more likely that it will be able to implement an appropriate, optimized, and system-wide approach.

  15. Integrating Variable Renewable Energy in Electric Power Markets. Best Practices from International Experience, Summary for Policymakers

    Energy Technology Data Exchange (ETDEWEB)

    Cochran, Jaquelin [National Renewable Energy Lab. (NREL), Golden, CO (United States); Bird, Lori [National Renewable Energy Lab. (NREL), Golden, CO (United States); Heeter, Jenny [National Renewable Energy Lab. (NREL), Golden, CO (United States); Arent, Douglas J. [National Renewable Energy Lab. (NREL), Golden, CO (United States)

    2012-04-30

    Many countries - reflecting very different geographies, markets, and power systems - are successfully managing high levels of variable renewable energy on the electric grid, including that from wind and solar energy. This document summarizes policy best practices that energy ministers and other stakeholders can pursue to ensure that electricity markets and power systems can effectively coevolve with increasing penetrations of variable renewable energy. There is no one-size-fits-all approach; each country studied has crafted its own combination of policies, market designs, and system operations to achieve the system reliability and flexibility needed to successfully integrate renewables. Notwithstanding this diversity, the approaches taken by the countries studied all coalesce around five strategic areas: lead public engagement, particularly for new transmission; coordinate and integrate planning; develop rules for market evolution that enable system flexibility; expand access to diverse resources and geographic footprint of operations; and improve system operations. This study also emphatically underscores the value of countries sharing their experiences. The more diverse and robust the experience base from which a country can draw, the more likely that it will be able to implement an appropriate, optimized, and system-wide approach.

  16. Integrating Variable Renewable Energy in Electric Power Markets. Best Practices from International Experience

    Energy Technology Data Exchange (ETDEWEB)

    Cochran, Jaquelin [National Renewable Energy Lab. (NREL), Golden, CO (United States); Bird, Lori [National Renewable Energy Lab. (NREL), Golden, CO (United States); Heeter, Jenny [National Renewable Energy Lab. (NREL), Golden, CO (United States); Arent, Douglas J. [National Renewable Energy Lab. (NREL), Golden, CO (United States)

    2012-04-30

    Many countries—reflecting very different geographies, markets, and power systems—are successfully managing high levels of variable renewable energy on the electric grid, including that from wind and solar energy. This document summarizes policy best practices that energy ministers and other stakeholders can pursue to ensure that electricity markets and power systems can effectively coevolve with increasing penetrations of variable renewable energy. There is no one-size-fits-all approach; each country studied has crafted its own combination of policies, market designs, and system operations to achieve the system reliability and flexibility needed to successfully integrate renewables. Notwithstanding this diversity, the approaches taken by the countries studied all coalesce around five strategic areas: lead public engagement, particularly for new transmission; coordinate and integrate planning; develop rules for market evolution that enable system flexibility; expand access to diverse resources and geographic footprint of operations; and improve system operations. This study also emphatically underscores the value of countries sharing their experiences. The more diverse and robust the experience base from which a country can draw, the more likely that it will be able to implement an appropriate, optimized, and system-wide approach.

  17. Market Survey Turkey. Electricity Market

    International Nuclear Information System (INIS)

    2008-12-01

    The present market survey presents the Turkish power market and derives business opportunities and prospects for Dutch trade and industry. This market survey has been carried out for the following four, from time to time overlapping, sectors that have been identified by EVD as potential opportunities for Dutch small and medium-sized enterprises (SME): renewable energy, energy efficiency, electricity generation, electricity distribution

  18. Use of derivative instruments to integrate renewable energies into the electricity market

    International Nuclear Information System (INIS)

    Hartmann, Kilian; Nelles, Michael; Candra, Dodiek Ika

    2017-01-01

    The implementation of renewable energies to the electricity market is inefficient and expensive with current measures. Further these measures are prejudicial for the existing energy-only-market. The combination of fluctuating and controllable renewable powers in virtual power plants enables the marketing of this power as a derivate on the future market. Thus would relieve the spot market and stabilize pricing on both markets. Subsequently the renewable energy obligation will reduce and renewable energies could be marketed as secured power.

  19. The European electricity market

    International Nuclear Information System (INIS)

    1988-01-01

    The creation of a single European market also will have its effects on the power and electricity sector. Expectations tied to this abandonment of borders on the electricity market are different: some hope for a reduction of energy costs, others fear safeguarded supplies to be at risk. It cannot be fully judged at present what the situation will be on a strongly integrated, European power and electricity market, and the brochure in hand is intended to present a first survey of the situation from the perspective of the power industry and energy policy, concentrating on main aspects. The survey is compiled in the form of reprints of journal articles written on this topic by a number of well-known German experts in the field. (orig./HP) [de

  20. Integral or integrated marketing

    Directory of Open Access Journals (Sweden)

    Davčik Nebojša

    2006-01-01

    Full Text Available Marketing theorists and experts try to develop business efficient organization and to get marketing performance at higher, business integrated level since its earliest beginnings. The core issue in this paperwork is the dialectic and practical approach dilemma should we develop integrated or integral marketing approach in the organization. The presented company cases as well as dialectic and functional explanations of this dilemma clearly shows that integrated marketing is narrower approach than integral marketing if we take as focal point new, unique and completed entity. In the integration the essence is in getting different parts together, which do not have to make necessary the new entity. The key elements in the definition of the integral marketing are necessity and holistic, e.g. necessity to develop new, holistic entity.

  1. An Integrated Design approach to Power Systems: from Power Flows to Electricity Markets

    Science.gov (United States)

    Bose, Subhonmesh

    Power system is at the brink of change. Engineering needs, economic forces and environmental factors are the main drivers of this change. The vision is to build a smart electrical grid and a smarter market mechanism around it to fulfill mandates on clean energy. Looking at engineering and economic issues in isolation is no longer an option today; it needs an integrated design approach. In this thesis, I shall revisit some of the classical questions on the engineering operation of power systems that deals with the nonconvexity of power flow equations. Then I shall explore some issues of the interaction of these power flow equations on the electricity markets to address the fundamental issue of market power in a deregulated market environment. Finally, motivated by the emergence of new storage technologies, I present an interesting result on the investment decision problem of placing storage over a power network. The goal of this study is to demonstrate that modern optimization and game theory can provide unique insights into this complex system. Some of the ideas carry over to applications beyond power systems.

  2. Development of a model for integrated simulation of the European transmission networks and electricity markets

    International Nuclear Information System (INIS)

    Rathke, Christian

    2013-01-01

    The liberalisation of electricity markets and the increase of renewable energy generation actually causes dramatic changes for the whole European power industry. The transmission system operators in particular have to meet the challenge to ensure a stable and reliable system operation in the future. Significant changes in power generation will require a substantial extension to current inadequate original transmission grids to handle increased wide area power flows. This is the only way to avoid overloading the grid and to reduce the herefrom resulting limitations for the Pan-European cross-border trade of electricity. This work describes in detail the development of a Pan-European integrated grid and an electricity market simulation tool. For this purpose an overview about the today's structure of the European electricity industry is given initially. Afterwards the configuration of the transmission grid, the used equipment and different methods for the load flow and short circuit calculation are explained. Furthermore models for the calculation of local loads and the power plant dispatch are presented in the following chapters. Following on from this a detailed model of the European electricity industry is developed and the main functions are described by means of some exemplary simulations. The simulation tool developed in this work enables the user to calculate realistic power plant schedules and the consequent resulting physical effects on the European transmission grid. It combines a time series based simulation of the electricity market with a detailed model of the transmission grid. The highly detailing of the model offers the feasibility to execute a complete AC load flow calculation using the Newton Raphson algorithm.Therefore it is possible to identify the active as well as the reactive power flows in the grid. The results of the power flow calculation are the basis for further investigations (e. g. the short circuit calculation) and to decide on

  3. Cross-border integration in the European electricity market. Evidence from the pricing behavior of Norwegian and Swiss exporters

    International Nuclear Information System (INIS)

    Balaguer, Jacint

    2011-01-01

    This paper examines the electricity market integration process in two European areas based on the pricing behavior of Norwegian and Swiss exporters. The aim is to gain evidence for the period after the adoption of the 'Second Legislative Package' (2003). The pricing behavior of Norwegian exporters indicates that the wholesale markets for Denmark and Sweden are highly integrated. Moreover, results are fully compatible with the existence of a very competitive marketplace for electricity. This clearly contrasts with the evidence provided by Swiss exporters. In this last case, analysis revealed differences in pricing-to-market behavior between Italy, France and Germany, which indicates that exporters take advantage of international market segmentation and divergences between market structures. This outcome provides a reasonable explanation as to why price differences between countries cannot be fully attributed to transmission costs, as has been claimed in previous research. We also found cross-country convergence in levels of markups and in pricing-to-market behavior of the Swiss exporters for the first part of the period that was analyzed. The evidence is fully consistent with an initial impulse toward market integration originated by reforms implemented at the beginning of the last decade. - Highlights: → We exploit a model based on pricing-to-market behavior. → Price discrimination by Swiss exporters is found. → Nordic electricity markets are found to be already highly integrated. → Market integration was recently improved in continental area. → Results are consistent with reforms under the 'Second Legislative Package'.

  4. Cross-border integration in the European electricity market. Evidence from the pricing behavior of Norwegian and Swiss exporters

    Energy Technology Data Exchange (ETDEWEB)

    Balaguer, Jacint, E-mail: jacint.balaguer@eco.uji.es [Department of Economics, Universitat Jaume I, 12071 Castellon (Spain)

    2011-09-15

    This paper examines the electricity market integration process in two European areas based on the pricing behavior of Norwegian and Swiss exporters. The aim is to gain evidence for the period after the adoption of the 'Second Legislative Package' (2003). The pricing behavior of Norwegian exporters indicates that the wholesale markets for Denmark and Sweden are highly integrated. Moreover, results are fully compatible with the existence of a very competitive marketplace for electricity. This clearly contrasts with the evidence provided by Swiss exporters. In this last case, analysis revealed differences in pricing-to-market behavior between Italy, France and Germany, which indicates that exporters take advantage of international market segmentation and divergences between market structures. This outcome provides a reasonable explanation as to why price differences between countries cannot be fully attributed to transmission costs, as has been claimed in previous research. We also found cross-country convergence in levels of markups and in pricing-to-market behavior of the Swiss exporters for the first part of the period that was analyzed. The evidence is fully consistent with an initial impulse toward market integration originated by reforms implemented at the beginning of the last decade. - Highlights: > We exploit a model based on pricing-to-market behavior. > Price discrimination by Swiss exporters is found. > Nordic electricity markets are found to be already highly integrated. > Market integration was recently improved in continental area. > Results are consistent with reforms under the 'Second Legislative Package'.

  5. Opportunity for inter-regional integration of electricity markets: the case of Shandong and Shanghai in East China

    International Nuclear Information System (INIS)

    Gnansounou, Edgard; Dong Jun

    2004-01-01

    In this paper, the opportunity for the inter-regional integration of the electricity market in East China is analysed on the basis of strategies for the future expansion of the electricity generation system. We assume that during its first stage, the operational breakthrough of the electricity sector reform in China will be to achieve an economic dispatch of the generating plants. On the basis of this assumed goal a multi-region model is proposed to appraise the potential benefits of an integrated inter-regional electricity market. This model includes: propositions on design and operation of the market, electricity demand forecasting, least-cost generating system expansion. As case study, three strategies of electricity supply are assessed in two provinces: Shandong and Shanghai in East China. While Shandong is a potential electricity exporter due to availability of primary energy resources, Shanghai is an electricity importer. The strategies include: autarkical expansion of each regional system, import/export only for minimizing operation costs, integration of the system expansion for minimizing total costs including operation and investment costs. One of the findings is that building up an inter-regional integrated electricity market is profitable for both the Shanghai and Shandong regions compared with the two other strategies, if the future regulation makes it possible to insure an economic dispatch of the generating power plants

  6. Network access charges, vertical integration, and property rights structure - experiences from the German electricity markets

    International Nuclear Information System (INIS)

    Growitsch, C.; Wein, T.

    2005-01-01

    After the deregulation of the German electricity markets in 1998, the German government opted for a regulatory regime called negotiated third party access, which would be subject to ex-post control by the federal cartel office. Network access charges for new competitors are based on contractual arrangements between energy producers and industrial consumers. As the electricity networks are incontestable natural monopolies, the local and regional network operators are able to set (monopolistic) charges at their own discretion, restricted only by the possible interference of the federal cartel office (Bundeskartellamt). In this paper we analyze if there is evidence for varying charging behaviour depending on the supplier's economic independence (structure of property rights) or its level of vertical integration. For this purpose, we hypothesise that incorporated and vertically integrated suppliers set different charges than independent utility companies. Multivariate estimations show a relation between network access charges and the network operator's economic independence as well as level of vertical integration: on the low voltage level for an estimated annual consumption of 1700 kW/h, vertically integrated firms set-in accordance with our hypothesis-significantly lower access charges than vertically separated suppliers, whereas incorporated network operators charge significantly higher charges compared to independent suppliers. These results could not have been confirmed for other consumptions or voltage levels. (author)

  7. Pros and cons of exposing renewables to electricity market risks-A comparison of the market integration approaches in Germany, Spain, and the UK

    International Nuclear Information System (INIS)

    Klessmann, Corinna; Nabe, Christian; Burges, Karsten

    2008-01-01

    The article examines how renewable electricity (RES-E) producers are integrated into the electricity market under the support legislations and regulatory frameworks of Germany, Spain, and the UK. Focus is on wind power, which faces the highest market integration challenge of all RES-E. The analysis shows that the three countries follow contrasting approaches of exposing RES-E producers to the market risks of forward electricity markets, balancing markets and system planning requirements. Risk exposure is highest in the UK and lowest in Germany. From a policy maker's perspective, there is a trade-off between a 'high risk' and a 'low risk' approach. When RES-E face high market risks, a higher level of financial support is required to stimulate RES-E development than in a low risk environment, but the exposure to market risks may also give an incentive to make efficient use of the respective market, thus limiting the indirect costs to society. The special characteristics of wind energy, however, put natural limits to the response of wind power plants to market prices and locational price signals and will increasingly influence electricity markets and grid infrastructure. These interdependencies should be recognised in the design of RES-E policies and market regulations

  8. A framework for analyzing the impact of data integrity/quality on electricity market operations

    Science.gov (United States)

    Choi, Dae Hyun

    This dissertation examines the impact of data integrity/quality in the supervisory control and data acquisition (SCADA) system on real-time locational marginal price (LMP) in electricity market operations. Measurement noise and/or manipulated sensor errors in a SCADA system may mislead system operators about real-time conditions in a power system, which, in turn, may impact the price signals in real-time power markets. This dissertation serves as a first attempt to analytically investigate the impact of bad/malicious data on electric power market operations. In future power system operations, which will probably involve many more sensors, the impact of sensor data integrity/quality on grid operations will become increasingly important. The first part of this dissertation studies from a market participant's perspective a new class of malicious data attacks on state estimation, which subsequently influences the result of the newly emerging look-ahead dispatch models in the real-time power market. In comparison with prior work of cyber-attack on static dispatch where no inter-temporal ramping constraint is considered, we propose a novel attack strategy, named ramp-induced data (RID) attack, with which the attacker can manipulate the limits of ramp constraints of generators in look-ahead dispatch. It is demonstrated that the proposed attack can lead to financial profits via malicious capacity withholding of selected generators, while being undetected by the existing bad data detection algorithm embedded in today's state estimation software. In the second part, we investigate from a system operator's perspective the sensitivity of locational marginal price (LMP) with respect to data corruption-induced state estimation error in real-time power market. Two data corruption scenarios are considered, in which corrupted continuous data (e.g., the power injection/flow and voltage magnitude) falsify power flow estimate whereas corrupted discrete data (e.g., the on/off status of

  9. Unified electricity market

    International Nuclear Information System (INIS)

    Anon

    2011-01-01

    A unified European electricity market means a unification and harmonisation of functioning of the national electricity market into one European Market or into one entity. It gives an opportunity to Slovenske elektrarne to open room for their wider activity within Europe where common rules for cross-boarder trade and markets functioning will apply. (author)

  10. Renewable energy and policy options in an integrated ASEAN electricity market: Quantitative assessments and policy implications

    International Nuclear Information System (INIS)

    Chang, Youngho; Li, Yanfei

    2015-01-01

    Energy market integration (EMI) in the ASEAN region is a promising solution to relieve the current immobilization of its renewable energy resources and would serve the fast increasing demand for electricity in the region. EMI could be further extended with coordinated policies in carbon pricing, renewable energy portfolio standards (RPS), and feed-in-tariffs (FIT) in the ASEAN countries. Using a linear dynamic programming model, this study quantitatively assesses the impacts of EMI and the above-mentioned policies on the development of renewable energy in the power generation sector of the region, and the carbon emissions reduction achievable with these policies. According to our results, EMI is expected to significantly promote the adoption of renewable energy. Along with EMI, FIT appears to be more cost-effective than RPS and is recommended for the ASEAN region, albeit political barriers for policy coordination among the countries might be a practical concern. In addition, an RPS of 30% electricity from renewable sources by 2030, which is considered politically a “low-hanging fruit”, would achieve moderate improvements in carbon emissions reductions and renewable energy development, while incurring negligible increases in the total cost of electricity. -- Highlights: •Energy market integration (EMI), carbon pricing, RPS, and FIT are examined for ASEAN. •EMI is a promising and feasible solution to promote renewable energy for ASEAN. •Along with EMI, FIT appears to be more cost-effective than RPS for ASEAN. •RPS of 30% by 2030 appears to be reasonable and feasible for ASEAN. •Coordinating FIT and RPS policies under EMI among ASEAN is advised

  11. Electricity market 2001

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2001-09-01

    The electricity markets in the Nordic countries have undergone major changes since the electricity market reform work was started in the early 1990s. Sweden, Norway and Finland have had a common electricity market since 1996. The work of also reforming the Danish electricity market was begun in the year 2000. The objective of the electricity market reform is to introduce increased competition, to give the consumers greater freedom of choice and also, by open and expanded trade in electricity, create the conditions for efficient pricing. The Swedish National Energy Administration is the supervisory authority as specified in the Electricity Act, and one of the tasks entrusted to it by the Government is to follow developments on the electricity market and to regularly compile and report current market information. The purpose of the 'Electricity market 2001' publication is to meet the need for generalized and readily accessible information on the conditions on the Nordic market. Iceland is not included in the description. The publication also includes summaries of information from recent years concerning electricity generation and utilization in the Nordic countries, the structure of the electricity market from the players' perspective, trade in electricity in the Nordic countries and in Northern Europe, electricity prices in the Nordic and other countries, and the impact of the electricity sector on the environment. The publication contains data on electricity generation and use during the past years, structure of the electricity market, trade in electricity in the Nordic countries and northern Europe, electricity prices in the Nordic countries and other countries as well as impact of electricity generation system on the environment.

  12. Electricity market 2001

    International Nuclear Information System (INIS)

    2001-09-01

    The electricity markets in the Nordic countries have undergone major changes since the electricity market reform work was started in the early 1990s. Sweden, Norway and Finland have had a common electricity market since 1996. The work of also reforming the Danish electricity market was begun in the year 2000. The objective of the electricity market reform is to introduce increased competition, to give the consumers greater freedom of choice and also, by open and expanded trade in electricity, create the conditions for efficient pricing. The Swedish National Energy Administration is the supervisory authority as specified in the Electricity Act, and one of the tasks entrusted to it by the Government is to follow developments on the electricity market and to regularly compile and report current market information. The purpose of the 'Electricity market 2001' publication is to meet the need for generalized and readily accessible information on the conditions on the Nordic market. Iceland is not included in the description. The publication also includes summaries of information from recent years concerning electricity generation and utilization in the Nordic countries, the structure of the electricity market from the players' perspective, trade in electricity in the Nordic countries and in Northern Europe, electricity prices in the Nordic and other countries, and the impact of the electricity sector on the environment. The publication contains data on electricity generation and use during the past years, structure of the electricity market, trade in electricity in the Nordic countries and northern Europe, electricity prices in the Nordic countries and other countries as well as impact of electricity generation system on the environment

  13. Electricity market 2000

    Energy Technology Data Exchange (ETDEWEB)

    Korsfeldt, T.; Petsala, B.

    2000-08-01

    The electricity markets in the Nordic countries have undergone major changes since the electricity market reform work was started in the early 1990s. Sweden, Norway and Finland have a common electricity market since 1996.The work of also reforming the Danish electricity market was begun in the year 2000. The objective of the electricity market reform is to introduce increased competition,to give the consumers greater freedom of choice and also, by open and expanded trade in electricity, create the conditions for efficient pricing. The Swedish National Energy Administration is the supervisory authority as specified in the Electricity Act, and one of the tasks entrusted to it by the Government is to follow developments on the electricity market and to regularly compile and report current market information. The purpose of the present publication is to meet the need for generalized and readily accessible information on the conditions on the Nordic markets.The publication includes summaries of information from recent years concerning electricity generation and utilization in the Nordic countries, the structure of the electricity market from the players' perspective trade in electricity in the Nordic countries and in Northern Europe, electricity prices in the Nordic and other countries, and the impact of the electricity sector on the environment.

  14. Electricity market 2000

    International Nuclear Information System (INIS)

    Korsfeldt, T.; Petsala, B.

    2000-08-01

    The electricity markets in the Nordic countries have undergone major changes since the electricity market reform work was started in the early 1990s. Sweden, Norway and Finland have a common electricity market since 1996.The work of also reforming the Danish electricity market was begun in the year 2000. The objective of the electricity market reform is to introduce increased competition,to give the consumers greater freedom of choice and also, by open and expanded trade in electricity, create the conditions for efficient pricing. The Swedish National Energy Administration is the supervisory authority as specified in the Electricity Act, and one of the tasks entrusted to it by the Government is to follow developments on the electricity market and to regularly compile and report current market information. The purpose of the present publication is to meet the need for generalized and readily accessible information on the conditions on the Nordic markets.The publication includes summaries of information from recent years concerning electricity generation and utilization in the Nordic countries, the structure of the electricity market from the players' perspective trade in electricity in the Nordic countries and in Northern Europe, electricity prices in the Nordic and other countries, and the impact of the electricity sector on the environment

  15. Large-scale integration of renewable energy into international electricity markets

    DEFF Research Database (Denmark)

    Lund, Henrik

    2004-01-01

    has lead to excess electricity production and thus low prices on the Nord Pool electricity market. This paper describes how such problems can be avoided by the introduction of flexible energy systems including changes in the regulation of power plants and investments in heat pumps and heat storage...... it possible for the system to secure a balance between supply and demand. At the same time most European electricity systems are in the process of being transformed into competitive electricity markets. Already today, the annual share of wind power in the western part of Denmark is nearly 20 percent, which...

  16. The electricity market 2003

    International Nuclear Information System (INIS)

    2003-01-01

    The electricity markets in the Nordic countries have undergone major changes since the electricity market reform work was started in the early 1990s. We now have a common Nordic electricity market that includes all of the Nordic countries, with the exception of Iceland. The objective of the electricity market reform is to introduce increased competition, to give consumers greater freedom of choice and also, by open and increased trade in electricity, create the conditions for efficient pricing. The Swedish Energy Agency is the supervisory authority specified in the Electricity Act, and one of the tasks entrusted to it by the Government is to follow developments on the electricity market and regularly compile and report current market information. The purpose of 'The Electricity Market 2003' publication is to meet the need for generalized and easily accessible information on the conditions on the Nordic market. The publication also includes summaries of the information from recent years concerning power generation and utilization in the Nordic countries, the structure of the electricity market from the players' perspective, trade in electricity in the Nordic countries and in northern Europe, electricity prices in the Nordic and other countries, and the impact of the electricity sector on the environment

  17. Large-scale offshore wind energy. Cost analysis and integration in the Dutch electricity market

    International Nuclear Information System (INIS)

    De Noord, M.

    1999-02-01

    The results of analysis of the construction and integration costs of large-scale offshore wind energy (OWE) farms in 2010 are presented. The integration of these farms (1 and 5 GW) in the Dutch electricity distribution system have been regarded against the background of a liberalised electricity market. A first step is taken for the determination of costs involved in solving integration problems. Three different types of foundations are examined: the mono-pile, the jacket and a new type of foundation: the concrete caisson pile: all single-turbine-single-support structures. For real offshore applications (>10 km offshore, at sea-depths >20 m), the concrete caisson pile is regarded as the most suitable. The price/power ratios of wind turbines are analysed. It is assumed that in 2010 turbines in the power range of 3-5 MW are available. The main calculations have been conducted for a 3 MW turbine. The main choice in electrical infrastructure is for AC or DC. Calculations show that at distances of 30 km offshore and more, the use of HVDC will result in higher initial costs but lower operating costs. The share of operating and maintenance (O ampersand M) costs in the kWh cost price is approximately 3.3%. To be able to compare the two farms, a base case is derived with a construction time of 10 years for both. The energy yield is calculated for a wind regime offshore of 9.0 m/s annual mean wind speed. Per 3 MW turbine this results in an annual energy production of approximately 12 GWh. The total farm efficiency amounts to 82%, resulting in a total farm capacity factor of 38%. With a required internal rate of return of 15%, the kWh cost price amounts to 0.24 DFl and 0.21 DFl for the 1 GW and 5 GW farms respectively in the base case. The required internal rate of return has a large effect on the kWh cost price, followed by costs of subsystems. O ampersand M costs have little effect on the cost price. Parameter studies show that a small cost reduction of 5% is possible when

  18. Essays on electricity markets

    Energy Technology Data Exchange (ETDEWEB)

    Rud, Linda

    2009-07-01

    The report covers several topics of electricity markets: The first essay, 'Selected Topics on Early Electricity Market Design in Norway' studies market design issues in establishing the market-based Norwegian electricity market. Essays 2-4 focus on issues of network congestion: 'Capacity Charges: A Price Adjustment Process for Managing Congestion in Electricity Transmission Networks' presents the capacity charge approach for managing transmission constraints in electricity networks. 'Understanding the Stochastics of Nodal Prices: Price Processes in a Constrained Network' seeks a further understanding of stochastic nodal prices processes. 'Investment Evaluation in a Constrained Electricity Network with Stochastic Nodal Price Processes' studies how the interaction of the competitive market and the capacitated network affects the evaluation of investments under uncertainty, and points out potential pitfalls of evaluation. In the last essay, 'A Newsboy Model Perspective on the Power Market: The Case of a Wind Power Producer' we discuss aspects of optimal bidding for a wind power producer. (Author)

  19. Future Electricity Markets

    DEFF Research Database (Denmark)

    Pinson, Pierre

    2015-01-01

    The changing face of energy production in Europe necessitates a rethink in the way that electricity markets are structured. The ‘5s’ (Future Electricity Markets) project is a multi-disciplinary project that is looking to challenge the current approach to the design and operation of electricity...

  20. The electricity market 2002

    International Nuclear Information System (INIS)

    2002-01-01

    taxes. The price of electricity dropped between 1997 and 2000, but began rising again to all electricity customers during 2000 and 2001. During the same period, the network charges remained largely unchanged, while the tax on electricity increased substantially. This led to an increase in the total cost to domestic customers, whereas the cost to industrial customers, who are exempt from taxes, is lower. The reform has enabled customers to choose freely the supplier from whom they want to buy their electricity. An opinion poll shows that most customers know that they can choose their supplier, and 37 % have acted on this by changing to a different supplier or negotiating their electricity price. The market concentration has increased in recent years since the dominating companies in Nordic countries have bought shares in competing companies on the Nordic market. The power companies and electricity trading companies are being developed towards bigger and more integrated energy companies, with operations in several countries. In recent years, the former surplus generation capacity in Sweden has been reduced. The oil-fired condensing power stations that were previously used in Sweden as reserve capacity have been decommissioned, and the first reactor in Barsebaeck was shut down. Svenska Kraftnaet, the Swedish grid utility, purchased a power reserve before the winter of 2000/2001 in order to strengthen the power balance during consumption peaks. During the autumn of 2001, the Government also entrusted Svenska Kraftnaet with the task of safe-guarding electricity generation capacity during very cold weather. This was to be done by purchasing reserve power capacity. The assignment resulted in additional power generation capacity consisting of previously decommissioned power generation plants and companies that were prepared to reduce their power consumption voluntarily. The procurement of reserve capacity is a temporary transitional measure. In the Government assignment

  1. The electricity market 2002

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2002-10-01

    charges and taxes. The price of electricity dropped between 1997 and 2000, but began rising again to all electricity customers during 2000 and 2001. During the same period, the network charges remained largely unchanged, while the tax on electricity increased substantially. This led to an increase in the total cost to domestic customers, whereas the cost to industrial customers, who are exempt from taxes, is lower. The reform has enabled customers to choose freely the supplier from whom they want to buy their electricity. An opinion poll shows that most customers know that they can choose their supplier, and 37 % have acted on this by changing to a different supplier or negotiating their electricity price. The market concentration has increased in recent years since the dominating companies in Nordic countries have bought shares in competing companies on the Nordic market. The power companies and electricity trading companies are being developed towards bigger and more integrated energy companies, with operations in several countries. In recent years, the former surplus generation capacity in Sweden has been reduced. The oil-fired condensing power stations that were previously used in Sweden as reserve capacity have been decommissioned, and the first reactor in Barsebaeck was shut down. Svenska Kraftnaet, the Swedish grid utility, purchased a power reserve before the winter of 2000/2001 in order to strengthen the power balance during consumption peaks. During the autumn of 2001, the Government also entrusted Svenska Kraftnaet with the task of safe-guarding electricity generation capacity during very cold weather. This was to be done by purchasing reserve power capacity. The assignment resulted in additional power generation capacity consisting of previously decommissioned power generation plants and companies that were prepared to reduce their power consumption voluntarily. The procurement of reserve capacity is a temporary transitional measure. In the Government

  2. Electricity and gas interconnections in France. A tool for the construction of an integrated European market

    International Nuclear Information System (INIS)

    2016-06-01

    The French Energy Regulator (CRE) is publishing its report on French electricity and gas interconnections. The report makes two main conclusions: French electricity and natural gas networks are well interconnected with their counterparts in neighbouring countries and the use of interconnections has been significantly improved over the last 10 years. In terms of electricity, France's average export capacity is 13.5 GW, i.e. more than 10% of its production capacity. France is very well integrated in the European gas market and is a transit country to Spain and Italy. It has boosted its interconnection capacity in gas by 40% in 10 years. Interconnections are vital to the internal energy market and help trade between Member States. They enable European consumers to benefit from cost-effective energy by diversifying sources of supply. Since it was created, the CRE has played a leading role in this area, by fostering the development of interconnections at the French borders and by making them more efficiently used. After major efforts, the question of creating new interconnections (which constitute complex and costly projects) is now being raised. In terms of gas, the Midcat Project (a new gas interconnection between France and Spain) provides a good illustration of this question. The project will cost almost 3 billion Euros, two billion of which is being funded by France, and the decision to launch it should not be taken lightly without robust cost-benefit analyses. These studies must, in particular, identify and quantify the benefits for each country concerned as well as for the European Union, and organise the project funding in relation to these benefits. As concerns the interconnection project in the Bay of Biscay between France and Spain, overcoming technical uncertainties is an essential prerequisite before commenting on the opportunities it offers in terms of the costs and benefits that it might generate. In compliance with the law, the CRE acts on behalf of

  3. Effects of further integration of distributed generation on the electricity market

    NARCIS (Netherlands)

    Frunt, J.; Kling, W.L.; Myrzik, J.M.A.; Nobel, Frank; Klaar, D.A.M.

    2006-01-01

    Environmental concern leads to legislation to stimulate the further integration of renewable energy in the Dutch electricity supply system. Distributed generation is suited for the integration of renewable energy sources. Furthermore it can be used to generate both heat and electricity in a more

  4. Salt Lake City Area Integrated Projects electric power marketing -- Final environmental impact statement. Volume 1: Summary

    International Nuclear Information System (INIS)

    1996-01-01

    The Colorado River Storage Project Customer Service Office of the Western Area Power Administration (Western) markets electricity produced at hydroelectric facilities operated by the Bureau of Reclamation. The facilities are known collectively as the Salt Lake City Area Integrated Projects (SLCA/IP) and include dams equipped for power generation on the Colorado, Green, Gunnison, and Rio Grande rivers and on Plateau Creek in Arizona, Colorado, Utah, Wyoming, and New Mexico. Of these facilities, only the Glen Canyon Unit, the Flaming Gorge Unit, and the Aspinall Unit (which includes Blue Mesa, Morrow Point, and Crystal dams) are influenced by Western power scheduling and transmission decisions. The environmental impact statement (EIS) alternatives, called commitment-level alternatives, reflect combinations of capacity and energy that would feasibly and reasonably fulfill Western's firm power marketing responsibilities, needs, and statutory obligations. The viability of these alternatives relates directly to the combination of generation capability of the SLCA/IP with energy purchases and interchange. The economic and natural resource assessments in this EIS include an analysis of commitment-level alternatives. Impacts of the no-action alternative are also assessed. Supply options, which include combinations of electrical power purchases and hydropower operational scenarios reflecting different operations of the dams, are also assessed. The EIS evaluates the impacts of these scenarios relative to socioeconomics, air resources, water resources, ecological resources, cultural resources, land use, recreation, and visual resources. Western has identified commitment-level alternative 1, the Post-1989 commitment level, as its preferred alternative. The impact evaluations indicate that this commitment level is also the environmentally preferred alternative

  5. Market role, profitability and competitive features of thermal power plants in the Swedish future electricity market with high renewable integration

    OpenAIRE

    Llovera Bonmatí, Albert

    2017-01-01

    The Swedish energy market is currently undergoing a transition from fossil fuels to renewable energy sources, including a potential phase-out of nuclear power. The combination of a phase-out with expansion of intermittent renewable energy leads to the issue of increased fluctuations in electricity production. Energy-related organizations and institutions are projecting future Swedish energy scenarios with different possible transition pathways. In this study the market role of thermal power p...

  6. Alberta's electricity forwards market

    International Nuclear Information System (INIS)

    Andrews, D.

    2002-01-01

    This paper outlined how the province of Alberta is starting over with a wholesale electricity market. Wholesalers have retreated back to the real-time market. The Watt-Ex standard market design position paper, issued in October 2002, examines wholesale market issues. The author notes that the biggest constraint to competitive electricity market is the reliance on real-time markets to price a good portion of transactions. Doing so, creates extreme price volatility and ineffective price signals because demand and supply have only a limited ability to respond to prices

  7. Design choices for electricity markets

    Energy Technology Data Exchange (ETDEWEB)

    De Vries, Laurens

    2007-07-01

    Ten years after the first European Electricity Directive, the goal of creating a single European electricity market has not been reached, despite concerted efforts by the EU and certain member states to continue with the reforms. The policy of subsidiarity for many aspects of market design has as a consequence that member countries are implementing a variety of different market designs and are implementing the reforms at varying speeds. The Florence regulatory process, which was intended to provide a bottom-up approach for coordination and harmonization, has effectively stalled and been replaced by a series of 'mini fora' in which smaller groups of countries work on integrating their markets. At the same time, the European electricity supply industry is facing some significant challenges. This paper investigates the different choices that can be made in the design of electricity markets, how they relate to each other and how they relate to the policy goals. (auth)

  8. Electric glass capturing markets

    Energy Technology Data Exchange (ETDEWEB)

    Wikman, K.; Wikstroem, T.

    1996-11-01

    Electric glass has found its place on the construction market. In public buildings, electrically heatable windows are becoming the leading option for large glass walls. Studies on detached houses, both new and renovated, show that floor heating combined with electrically heatable windowpanes is the best choice with respect to resident`s comfort. (orig.)

  9. The integration of gas and electricity: potential effects on competition in markets

    International Nuclear Information System (INIS)

    Lopez Milla, J.

    2007-01-01

    During the last years, an increasing number of gas and electricity companies have integrated their activities in both sectors. Following this trend, several Mergers and Acquisitions between gas and electricity companies have emerged, and some of them have been cross-borders operations that have given rise to multinational enterprises. This paper analyses the causes of the integration of gas and electricity activities, and examines its implications on regulation and competition policy, showing that these changes in the energy industry raise new challenges and compel to adopt new measures in that field of the economic policy. (Author) 25 refs

  10. Integration of wind energy in the Dutch electricity system in the context of the Northwestern European market for electricity. Final report

    International Nuclear Information System (INIS)

    Benz, E.; Hewicker, C.; Moldovan, N.; Stienstra, G.; Van der Veen, W.

    2010-04-01

    A study was conducted of the integration of large volumes of wind energy in the Dutch electricity system in the context of a Northwest European electricity market for the year 2020. This study contributes to answering the questions that are at the centre of the project 'Fuel mix'. The following aspects are addressed: the capacity to combine large volumes of wind energy in the Dutch electricity system with the use of CHP; the impact of electricity costs; the influence on CO2 emissions and fuel use; the correlation between the electricity production of CHP units; wind parks and coal-fired plants. In this study the Dutch electricity system is simulated in connection with the framework of the regional electricity market in Northwest Europe for the year 2020. The conducted simulations are based on perfect competition with the marginal cost price of the production units as offer price in the electricity market. To this end the chronological production simulation model (PLEXOS) was used, which takes into account the dynamic operational management and limitations of the electricity plants and the transmission grid. [nl

  11. Can we reconcile different capacity adequacy policies with an integrated electricity market?

    International Nuclear Information System (INIS)

    Finon, Dominique

    2013-09-01

    In the present European Union debate, many consider capacity remuneration mechanisms (CRM) as useless and, if they are eventually considered as useful, there is a necessity of total alignment of capacity adequacy policies in time. We develop an opposite position. The adoption of CRM is a necessity because the market and regulatory failures to invest in peaking units, which are amplified by the large, scale development of intermittent sources by out-of-market policies. Then, provided that some minimal harmonization is sought by regulators and TSOs, each member state should have some freedom in the adoption of his capacity adequacy policies. Our main findings are fivefold: 1 - beyond the need for a clear alignment of principles in matters of criteria of adequacy and reliability, Member States are legitimate to decide their means of action to maintain the long-term reliability insurance of their electricity system. In particular they should be allowed to choose between keeping 'energy only' market architecture or adding a capacity mechanism, and also to choose the type of CRM design, provided that they target a minimal probabilistic criteria of outages and that short term competition on the energy market is not altered. 2 - we propose the adoption of minimal criteria of adequacy and reliability in relation to the nature of hazard events which could alter the system reliability and which are specific to each system (seasonal hydraulic hazardousness, weekly thermo-sensibility of the peak load, daily and hourly variability of intermittent renewable, unplanned thermal plants outages). In a system in which the regulator and the government are totally confident in the ability of the market to reveal the level of protection desired by the consumers in a system, the absence of precautionary approach could in fact alter the supply reliability level targeted by the respective TSOs in the neighboring markets which they are integrated with. 3 - the CRMs which are quantity

  12. Review of Real-time Electricity Markets for Integrating Distributed Energy Resources and Demand Response

    DEFF Research Database (Denmark)

    Wang, Qi; Zhang, Chunyu; Ding, Yi

    2015-01-01

    The high penetration of both Distributed Energy Resources (DER) and Demand Response (DR) in modern power systems requires a sequence of advanced strategies and technologies for maintaining system reliability and flexibility. Real-time electricity markets (RTM) are the nondiscriminatory transaction...... platforms for providing necessary balancing services, where the market clearing (nodal or zonal prices depending on markets) is very close to real time operations of power systems. One of the primary functions of RTMs in modern power systems is establishing an efficient and effective mechanism for small DER...... and DR to participate in balancing market transactions, while handling their meteorological or intermittent characteristics, facilitating asset utilization, and stimulating their active responses. Consequently, RTMs are dedicated to maintaining the flexibility and reliability of power systems. This paper...

  13. Essays on electricity markets

    Energy Technology Data Exchange (ETDEWEB)

    Rud, Linda

    2009-07-01

    The report covers several topics of electricity markets: The first essay, 'Selected Topics on Early Electricity Market Design in Norway' studies market design issues in establishing the market-based Norwegian electricity market. Essays 2-4 focus on issues of network congestion: 'Capacity Charges: A Price Adjustment Process for Managing Congestion in Electricity Transmission Networks' presents the capacity charge approach for managing transmission constraints in electricity networks. 'Understanding the Stochastics of Nodal Prices: Price Processes in a Constrained Network' seeks a further understanding of stochastic nodal prices processes. 'Investment Evaluation in a Constrained Electricity Network with Stochastic Nodal Price Processes' studies how the interaction of the competitive market and the capacitated network affects the evaluation of investments under uncertainty, and points out potential pitfalls of evaluation. In the last essay, 'A Newsboy Model Perspective on the Power Market: The Case of a Wind Power Producer' we discuss aspects of optimal bidding for a wind power producer. (Author)

  14. An integrated ant colony optimization approach to compare strategies of clearing market in electricity markets. Agent-based simulation

    International Nuclear Information System (INIS)

    Azadeh, A.; Maleki-Shoja, B.; Skandari, M.R.

    2010-01-01

    In this paper, an innovative model of agent based simulation, based on Ant Colony Optimization (ACO) algorithm is proposed in order to compare three available strategies of clearing wholesale electricity markets, i.e. uniform, pay-as-bid, and generalized Vickrey rules. The supply side actors of the power market are modeled as adaptive agents who learn how to bid strategically to optimize their profit through indirect interaction with other actors of the market. The proposed model is proper for bidding functions with high number of dimensions and enables modelers to avoid curse of dimensionality as dimension grows. Test systems are then used to study the behavior of each pricing rule under different degrees of competition and heterogeneity. Finally, the pricing rules are comprehensively compared using different economic criteria such as average cleared price, efficiency of allocation, and price volatility. Also, principle component analysis (PCA) is used to rank and select the best price rule. To the knowledge of the authors, this is the first study that uses ACO for assessing strategies of wholesale electricity market. (author)

  15. Electricity marketing and retailing

    International Nuclear Information System (INIS)

    Hanlon, C.

    2001-01-01

    ECNG Inc. is a full service provider of independent and objective energy advice and management services to industrial, commercial and institutional end-users of all forms of energy. ECNG manages 10 per cent of the Ontario gas market and expects a 10 per cent share of electricity (14 TWh). ECNG has a balanced portfolio with expertise in both petroleum and electricity sectors. The company has also dealt extensively with retailers, marketers, wholesalers and suppliers on issues regarding deregulation

  16. The integrated North American electricity market : a bi-national model for securing a reliable supply of electricity

    International Nuclear Information System (INIS)

    Egan, T.

    2004-03-01

    The 50 million people who experienced the power blackout on August 14, 2003 in southern Ontario and the U.S. Midwest and Northeast understood how vital electricity is in our day-to-day lives, but they also saw the resiliency of the North American electricity system. More than 65 per cent of the power generation was restored to service within 12 hours and no damage was caused to the generation or transmission facilities. Although the interconnected North American electricity system is among the most reliable in the world, it is threatened by an aging infrastructure, lack of new generation and transmission to meet demand, and growing regulatory pressures. This report suggests that any measures that respond to the threat of ongoing reliability should be bi-national in scope due to the interconnected nature of the system. Currently, the market, regulatory and administrative systems are different in each country. The full engagement and cooperation of both Canada and the United States is important to ensure future cross-border trade and power reliability. The Canadian Electricity Association proposes the following 7 measures: (1) support an open debate on all the supply options available to meet growing power demands, (2) promote bi-national cooperation in the construction of new transmission capacity to ensure a reliable continental electricity system, (3) examine opportunities for bi-national cooperation for investment in advanced transmission technologies and transmission research and development, (4) promote new generation technology and demand-side measures to relieve existing transmission constraints and reduce the need for new transmission facilities, (5) endorse a self-governing international organization for developing and enforcing mandatory reliability standards for the electricity industry, (6) coordinate measures to promote critical infrastructure protection, and (7) harmonize U.S. and Canadian efforts to streamline or clarify regulation of electricity

  17. The electricity market

    International Nuclear Information System (INIS)

    2015-01-01

    After a first part proposing predictions for electricity production and consumption for 2016, for the turnovers of electricity suppliers and producers, an indication of important recent important events regarding enterprises belonging to the sector, and a dashboard of the sector activity, an annual report proposes a detailed overview of trends and of the competition context for the electricity market. It identifies the main market opportunities for electricity suppliers, identifies eight determining factors for the sector activity, gives an overview of the sector context evolution between 2004 and 2014 (temperatures, rainfalls, manufacturing industry production, housing and office building stock, projected housing and office building). It analyses the evolution of the sector activity by presenting and commenting various activity indicators and financial performance of electricity producers. It analyses the sector economic structure: evolution of the economic fabric, presentation of various structural characteristics (cross-border exchanges, production capacities per energy source, nuclear plant fleet, thermal plant fleet, location, electricity supply market). It proposes a presentation of the various actors and of their respective market shares, and presentations of groups, electricity suppliers, and electricity producers. It indicates highlights and presents various rankings of the main enterprises in 2014

  18. Integrated marketing.

    Science.gov (United States)

    2006-01-01

    St. John Health consists of nine hospitals throughout southern Michigan. Recently, in an attempt to brand the system as the state's premiere place for medical services, the system launched 'Real Medicine', a campaign that brands all nine hospitals together. Using print, radio, and television spots, the effort also integrates direct mail collateral and brochures to reach consumers.

  19. Newly developed integrated model to reduce risks in the electricity market

    International Nuclear Information System (INIS)

    Mo, Birger

    2001-01-01

    A new model which integrates hydro-scheduling and financial hedging has been developed in cooperation with Norsk Hydro. We believe the new tool will be useful for owners of hydropower plants that want to reduce risks in the power market. The model development started in 1997 and was financed by Norsk Hydro. As of 1998, the main financial contributor has been the Research Council of Norway through a project in the Strategic Institute Programme. (author)

  20. Bulgarian electricity market restructuring

    International Nuclear Information System (INIS)

    Ganev, Peter

    2009-01-01

    The energy sector in Bulgaria has undergone major restructuring in recent years. It faces the dual challenges of achieving regulatory stability to attract private investors, and creating a functioning competition energy market. As of the EU Accession in 2007, Bulgaria has fully liberalized power and gas markets. The 2003 Energy Law establishes the energy sector legal framework and sets the basis for creation of a transparent and predictable regulatory environment where the key regulatory responsibilities are vested with the State Energy and Water Regulatory Commission (SEWRC). The energy sector experienced significant problems in the first half of 2007 due to lost production capacities and regulatory failures on the electricity market. Excess price regulations on the market of electricity supplies to household, coupled with insufficient liberalization of imports and exports, create unfavorable conditions for power producers and large electricity users. The energy regulator has tried to achieve several incompatible targets as of July 1, 2007 for maintaining low electricity prices for households in response to political pressure, low power generation prices amid rising input costs, and market opening in compliance with EU regulations. (author)

  1. The promotion of regional integration of electricity markets: Lessons for developing countries

    International Nuclear Information System (INIS)

    Oseni, Musiliu O.; Pollitt, Michael G.

    2016-01-01

    This paper focuses on how to promote regional cooperation in electricity. We begin by discussing the theory of international trade cooperation in electricity, with a view to discussing what preconditions might be important in facilitating wide area trading across national borders. We then develop lessons based on the comparison of four case studies. These include three regional developing country power pools – the Southern African Power pool (SAPP), West African Power pool (WAPP) and the Central American Power Market (MER). We contrast these with Northern Europe's Nord Pool. These cases highlight both the potential and difficulty of having cross-jurisdictional power pools. In the light of the theory and evidence we present, we draw key lessons in the areas of: preconditions for trading; necessary institutional arrangements; practicalities of timetabling; reasons to be hopeful about future prospects. - Highlights: • This paper focuses on how to promote regional electricity cooperation. • We develop lessons based on comparison of four international case studies. • The cases highlight both the potential and difficulty of power pools. • We identify preconditions, institutional arrangements and timetabling. • We conclude that the future prospects for regional power pools are good.

  2. The Challenge of Integrating Renewable Generation in the Alberta Electricity Market

    Directory of Open Access Journals (Sweden)

    G. Kent Fellows

    2016-09-01

    Full Text Available Renewable electric generation is forecast to enjoy an increasing share of total capacity and supply regimes in the future. Alberta is no exception to this trend, having initiated policy incentives in response to calls for increasing the fraction of wind and solar energy available to the province over the next decade.1 This call is coming from various sectors including advocacy groups, the provincial government and some utilities. The University of Calgary’s School of Public Policy convened a roundtable discussion on Sept. 15, 2015. Given the wide-ranging aspects of increased renewables integration (for example the policy options, economic forces and engineering/technical issues the topic demands attention from a wide range of experts and stakeholders. To that end, we endeavoured to group expert panellists and representatives of utilities, public agencies, academe and consumer groups to consider the planning necessary to integrate new renewable capacity into the existing and future grid system in the province and its potential impact. The purpose of the roundtable was to facilitate and foster a knowledge exchange between interested and knowledgeable parties while also aggregating this knowledge into a more complete picture of the challenges and potential strategies associated with increased renewables integration in the Alberta electricity grid.

  3. Renewables in Electricity Markets

    DEFF Research Database (Denmark)

    Ordoudis, Christos; Papakonstantinou, Athanasios; Pinson, Pierre

    2014-01-01

    Electricity is nowadays commonly exchanged through electricity markets, designed in a context where dispatchable generators, with non-negligible marginal costs, were dominating. By depending primarily on conventional (fossil, hydro and nuclear) power generation based on marginal pricing...... not designed to take into account the uncertainty brought by the substantial variability and limited predictability associated with stochastic sources, most notably wind power and solar energy. Due to these developments, the need for decision making models able to account for the uncertainty introduced by high...... from renewables, and on the adaption of electricity market designs and power system operations to the aforementioned characteristics of renewables. Additionally, the aim of the research group is supplemented by providing the appropriate frameworks for secure future investments in the field...

  4. Identifying barriers to large-scale integration of variable renewable electricity into the electricity market : A literature review of market design

    NARCIS (Netherlands)

    Hu, J.; Harmsen, R.; Crijns-Graus, Wina; Worrell, E.; van den Broek, M.A.

    For reaching the 2 °C climate target, the robust growth of electricity generation from variable renewable energy sources (VRE) in the power sector is expected to continue. Accommodation of the power system to the variable, uncertain and locational-dependent outputs of VRE causes integration costs.

  5. Electricity markets theories and applications

    CERN Document Server

    Lin, Jeremy

    2017-01-01

    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 t...

  6. Electricity marketing and retailing

    International Nuclear Information System (INIS)

    Kilby, M.

    2001-01-01

    Canadian Metering Services provides metrology expertise to power producers and has more than 40 years experience in the industry. The company is privately and nationally accredited in Canada and is an expert in data communications. This power point presentation focused on issues regarding prices and price stability. Graphs were included with the presentation which depicted the profiles of winners and losers in electricity marketing and retailing. The presentation also discussed the benefits of a market surveillance panel, AMV, and MDMA and how to go about choosing them. tabs., figs

  7. Electricity marketing and retailing

    Energy Technology Data Exchange (ETDEWEB)

    Kilby, M. [Canadian Meter Services, Toronto ON (Canada)

    2001-07-01

    Canadian Metering Services provides metrology expertise to power producers and has more than 40 years experience in the industry. The company is privately and nationally accredited in Canada and is an expert in data communications. This power point presentation focused on issues regarding prices and price stability. Graphs were included with the presentation which depicted the profiles of winners and losers in electricity marketing and retailing. The presentation also discussed the benefits of a market surveillance panel, AMV, and MDMA and how to go about choosing them. tabs., figs.

  8. Markets for utility electricity

    International Nuclear Information System (INIS)

    Brooks, D.B.

    1990-01-01

    Every analysis of energy use, no matter what the sector or the country, has shown enormous opportunities for cost-effective conservation. Such opportunities should be identified and pursued wherever they appear. Because of its capital intensity and balance-of-payments implications on the supply side, and its potential to improve industrial efficiency and quality of life on the demand side, nowhere are such opportunities more critical than with electricity. Indeed, given the large and unsatisfied demand for electricity in those markets where it can be used efficiently, to ignore those opportunities is to invite ever more serious energy supply and demand problems. (author). 34 refs., 3 tabs., 1 appendix

  9. Balancing renewable on intra day electricity markets

    International Nuclear Information System (INIS)

    Sokol, R.; Bems, J.

    2012-01-01

    Intra day electricity markets contribute to facilitate transition from conventional sources to renewable which need to be balanced on real-time basic due to the unpredictable nature of weather. This paper describes the way from regional electricity markets to a single pan-european market model which is target model of the European Commission. Single liquid intra day electricity market where market participants can balance their portfolios is prerequisite to a full utilisation of renewable power sources and a solution for some problems experienced by TSOs with loop and parallel flows from neighbouring countries. Integrated German and French intra day electricity market which uses Flexible Intra day Trading Scheme is described in this paper as a market which could be extended further to the CEE region with very poor liquidity of its local intra day markets. (Authors)

  10. Overview of Wholesale Electricity Markets

    Energy Technology Data Exchange (ETDEWEB)

    Milligan, Michael [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Bloom, Aaron P [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Cochran, Jaquelin M [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Townsend, Aaron [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Ela, Erik [Electric Power Research Institute; Botterud, Audun [Argonne National Laboratory; Levin, Todd [Argonne National Laboratory

    2018-02-15

    This chapter provides a comprehensive review of four key electricity markets: energy markets (day-ahead and real-time markets); ancillary service markets; financial transmission rights markets; capacity markets. It also discusses how the outcomes of each of these markets may be impacted by the introduction of high penetrations of variable generation. Furthermore, the chapter examines considerations needed to ensure that wholesale market designs are inclusive of emerging technologies, such as demand response, distributed generation, and distributed storage.

  11. Market research for electric utilities

    International Nuclear Information System (INIS)

    Shippee, G.

    1999-01-01

    Marketing research is increasing in importance as utilities become more marketing oriented. Marketing research managers need to maintain autonomy from the marketing director or ad agency and make sure their work is relevant to the utility's operation. This article will outline a model marketing research program for an electric utility. While a utility may not conduct each and every type of research described, the programs presented offer a smorgasbord of activities which successful electric utility marketers often use or have access to

  12. New Brunswick electricity market rules : summary

    International Nuclear Information System (INIS)

    2004-02-01

    The electricity market rules for New Brunswick were reviewed with particular reference to two broad classifications. The first classification is based on the roles and responsibilities of the system operator (SO) in facilitating the Bilateral Contract market, as well as the role of market participants in participating in the Bilateral Contract market. The second classification is based on the roles and responsibilities of each of the SO, market participants and transmitters in maintaining the reliability of the integrated electricity system and ensuring a secure supply of electricity for consumers in New Brunswick. The market rules consist of 10 chapters entitled: (1) introduction to the market rules and administrative rules of general application, (2) market participation and the use of the SO-controlled grid, (3) market administration, (4) technical and connection requirements, testing and commissioning, (5) system reliability, (6) operational requirements, (7) settlement, (8) connection of new or modified facilities, (9) transmission system planning, investment and operation, and (10) definitions and interpretation

  13. The Future Organization of Danish Electricity Market for Integrating DERs - a View of FlexPower Project

    DEFF Research Database (Denmark)

    Li, Yang; Zhang, Chunyu; Ding, Yi

    2013-01-01

    in mobilizing small-scale DERs to participate in the existing electricity market, is proposed in this paper to cope with the day-ahead, intra-day and regulating power market. Possible future organizations of different time-scale markets are also introduced and discussed with the precise roles...

  14. Designing competitive electricity markets

    International Nuclear Information System (INIS)

    Chao, H.P.; Huntington, H.

    1998-01-01

    This volume of papers, originally presented at Stanford in March 1997 in a conference sponsored by the Electric Power Research Institute, examines several questions about the restructuring and deregulation of electricity markets. Its stated goal is to present guiding principles for evaluating proposals to restructure the US electric power industry. While a collection of essays is perhaps not the best place to lay out guiding principles, the volume does contain a great deal of learning about restructuring. The first essay is a reprint of Paul Joskow's excellent article in the ''Journal of Economic Perspectives''. An essay by William Hogan on the debate between zonal and locational pricing is next. Paul Kleindorfer lists the various governance schemes which other countries that have restructured have used to govern system operation, access to the market for power, and transmission ownership and pricing. One difficulty with the book, as well as the debate in the US, is that it fails to draw adequately upon the international experience. Shmuel Oren lays out the potential areas over which an ISO could have authority. The chapter by Stephen Rassenti and Vernon Smith that bilateral trading should never be allowed, implying that a mandatory pool should be established. A reduction in regulation may increase the incentives for technological innovation. Martin Baughman suggests a number of ways by which costs of transmitting and storing electricity may be reduced. Robert Wilson returns to the volume with a chapter on institutional design. To end the volume, Hung-Po Chao and Stephen Peck present an extension of their earlier work in the ''Journal of Regulatory Economics'' showing how markets for transmission rights would work in a transmission grid of three points

  15. Use of derivative instruments to integrate renewable energies into the electricity market; Einsatz derivativer Instrumente zur Integration erneuerbarer Energien in den Strommarkt

    Energy Technology Data Exchange (ETDEWEB)

    Hartmann, Kilian [Hochschule Aschaffenburg (Germany). Fakultaet fuer Ingenieurwissenschaften; Nelles, Michael [Rostock Univ. (Germany). Agrar- und Umweltwissenschaftliche Fakultaet; Candra, Dodiek Ika

    2017-08-01

    The implementation of renewable energies to the electricity market is inefficient and expensive with current measures. Further these measures are prejudicial for the existing energy-only-market. The combination of fluctuating and controllable renewable powers in virtual power plants enables the marketing of this power as a derivate on the future market. Thus would relieve the spot market and stabilize pricing on both markets. Subsequently the renewable energy obligation will reduce and renewable energies could be marketed as secured power.

  16. Marketing of electric vehicles

    International Nuclear Information System (INIS)

    Gaerling, A.; Thoegersen, J.

    2001-01-01

    Substituting electric vehicles for traditional ones could reduce local pollution and greenhouse emissions from the transportation system. However, these societal benefits come at high costs to the owner of the EV in terms of price, driving range, availability, loading capacity, speed and acceleration. In addition, the usability of an EV is hampered by the lack of an infrastructure for recharging. Such a product hardly sells itself to potential customers. Besides supportive national policies, skillful marketing is needed to get it accepted and diffused throughout society. This paper outlines a two-phase strategy for the marketing of EVs based on a discussion of current and expected future characteristics of EVs and on a review of research on early adopters. (author)

  17. Salt Lake City Area Integrated Projects Electric Power Marketing. Draft environmental impact statement: Volume 4, Appendixes B-D

    Energy Technology Data Exchange (ETDEWEB)

    1994-02-01

    The Salt Lake City Area Office of the Western Area Power Administration (Western) markets electricity produced at hydroelectric facilities operated by the Bureau of Reclamation. The facilities are known collectively as the Salt Lake City Area Integrated Projects (SLCA/IP) and include dams equipped for power generation on the Green, Gunnison, Rio Grande, and Colorado rivers and on Deer and Plateau creeks in the states of Wyoming, Utah, Colorado, Arizona, and New Mexico. Of these facilities, only the Glen Canyon Unit, the Flaming Gorge Unit, and the Aspinall Unit (which includes Blue Mesa, Morrow Point, and Crystal dams;) are influenced by Western power scheduling and transmission decisions. The EIS alternatives, called commitment-level alternatives, reflect combinations of capacity and energy that would feasibly and reasonably fulfill Westerns firm power marketing responsibilities, needs, and statutory obligations. The viability of these alternatives relates directly to the combination of generation capability of the SLCA/IP with energy purchases and interchange. The economic and natural resource assessments in this environmental impact statement (EIS) include an analysis of commitment-level alternatives. Impacts of the no-action alternative are also assessed. Supply options, which include combinations of electrical power purchases and hydropower operational scenarios reflecting different operations of the dams, are also assessed. The EIS evaluates the impacts of these scenarios relative to socioeconomics, air resources, water resources, ecological resources, cultural resources, land use, recreation, and visual resources.

  18. Salt Lake City Area Integrated Projects Electric Power Marketing. Draft environmental impact statement: Volume 2, Sections 1-16

    Energy Technology Data Exchange (ETDEWEB)

    1994-02-01

    The Salt Lake City Area Office of the Western Area Power Administration (Western) markets electricity produced at hydroelectric facilities operated by the Bureau of Reclamation. The facilities are known collectively as the Salt Lake City Area Integrated Projects (SLCA/IP) and include dams equipped for power generation on the Green, Gunnison, Rio Grande, and Colorado rivers and on Deer and Plateau creeks in the states of Wyoming, Utah, Colorado, Arizona, and New Mexico. Of these facilities, only the Glen Canyon Unit, the Flaming Gorge Unit, and the Aspinall Unit (which includes Blue Mesa, Morrow Point, and Crystal dams;) are influenced by Western power scheduling and transmission decisions. The EIS alternatives, called commitment-level alternatives, reflect combinations of capacity and energy that would feasibly and reasonably fulfill Westerns firm power marketing responsibilities, needs, and statutory obligations. The viability of these alternatives relates directly to the combination of generation capability of the SLCA/IP with energy purchases and interchange. The economic and natural resource assessments in this environmental impact statement (EIS) include an analysis of commitment-level alternatives. Impacts of the no-action alternative are also assessed. Supply options, which include combinations of electrical power purchases and hydropower operational scenarios reflecting different operations of the dams, are also assessed. The EIS evaluates the impacts of these scenarios relative to socioeconomics, air resources, water resources, ecological resources, cultural resources, land use, recreation, and visual resources.

  19. Salt Lake City Area Integrated Projects Electric Power Marketing. Draft environmental impact statement: Volume 3, Appendix A

    Energy Technology Data Exchange (ETDEWEB)

    1994-02-01

    The Salt Lake City Area Office of the Western Area Power Administration (Western) markets electricity produced at hydroelectric facilities operated by the Bureau of Reclamation. The facilities are known collectively as the Salt Lake City Area Integrated Projects (SLCA/IP) and include dams equipped for power generation on the Green, Gunnison, Rio Grande, and Colorado rivers and on Deer and Plateau creeks in the states of Wyoming, Utah, Colorado, Arizona, and New Mexico. Of these facilities, only the Glen Canyon Unit, the Flaming Gorge Unit, and the Aspinall Unit (which includes Blue Mesa, Morrow Point, and Crystal dams;) are influenced by Western power scheduling and transmission decisions. The EIS alternatives, called commitment-level alternatives, reflect combinations of capacity and energy that would feasibly and reasonably fulfill Westerns firm power marketing responsibilities, needs, and statutory obligations. The viability of these alternatives relates directly to the combination of generation capability of the SLCA/IP with energy purchases and interchange. The economic and natural resource assessments in this environmental impact statement (EIS) include an analysis of commitment-level alternatives. Impacts of the no-action alternative are also assessed. Supply options, which include combinations of electrical power purchases and hydropower operational scenarios reflecting different operations of the dams, are also assessed. The EIS evaluates the impacts of these scenarios relative to socioeconomics, air resources, water resources, ecological resources, cultural resources, land use, recreation, and visual resources.

  20. In search of the perfect electricity market

    International Nuclear Information System (INIS)

    De Vries, L.; Correlje, A.

    2008-01-01

    Nearly twelve years after the first electricity directive (Directive 96/92/EC), the European electricity sector is still fragmented along national borders. Within national or regional markets, competition has generally not developed as much as had been expected. The authors argue that progress is possible, but that we also have to learn to accept the inevitable imperfections of the integration process. Two questions are addressed in this article: (1) Why is every market designed in a different way?; and (2) How can the integration of European power markets be furthered, given the current diversity of market designs?

  1. Flow-based market coupling. A joint ETSO-EuroPEX proposal for cross-border congestion management and integration of electricity markets in Europe. Interim report

    International Nuclear Information System (INIS)

    2004-09-01

    ETSO and EuroPEX have previously published separate proposals for congestion management and market operation across borders in Europe. ETSO has described a 'vision' in which Transmission System Operators (TSOs) would support trade between a variety of different markets by taking explicit account of the physical flows of electricity between them ('flow-based modelling'). EuroPEX has described 'Decentralized Market Coupling' as a method to integrate regional energy markets with cross-border congestion management. In most respects the ETSO and EuroPEX proposals are consistent and complementary. In particular, both organisations agree that market-based congestion management mechanisms should be used at all borders wherever possible, and that they should be co-ordinated to take account of the interdependence of physical flows. Furthermore, both ETSO and EuroPEX recognize that integrated markets are in general more efficient than separate ones, but accept that coupling of regional markets is the most realistic way of achieving efficiency benefits in the short and medium term. The commonalty between the ETSO and EuroPEX proposals has been noted by the 'Florence' Regulators' Forum, which has therefore encouraged ETSO and EuroPEX to work together to develop joint proposals. They have responded by setting up a Joint Working Group, which has produced this report to describe its progress to date. Currently, there exists a wide variety of organisational structures and operational practices in Europe. Consequently, ETSO and EuroPEX agreed at an early stage that, although a joint vision of a flow-based market coupling (FMC) model should be developed, it was equally important to identify how the current arrangements could evolve towards it in a series of practical steps. The work is not yet complete. This is an interim report designed to expose ideas at an early stage to enable Regulators, Users and other interested parties to join the debate and provide feedback. In particular

  2. Flow-based market coupling. A joint ETSO-EuroPEX proposal for cross-border congestion management and integration of electricity markets in Europe. Interim report

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2004-09-01

    ETSO and EuroPEX have previously published separate proposals for congestion management and market operation across borders in Europe. ETSO has described a 'vision' in which Transmission System Operators (TSOs) would support trade between a variety of different markets by taking explicit account of the physical flows of electricity between them ('flow-based modelling'). EuroPEX has described 'Decentralized Market Coupling' as a method to integrate regional energy markets with cross-border congestion management. In most respects the ETSO and EuroPEX proposals are consistent and complementary. In particular, both organisations agree that market-based congestion management mechanisms should be used at all borders wherever possible, and that they should be co-ordinated to take account of the interdependence of physical flows. Furthermore, both ETSO and EuroPEX recognize that integrated markets are in general more efficient than separate ones, but accept that coupling of regional markets is the most realistic way of achieving efficiency benefits in the short and medium term. The commonalty between the ETSO and EuroPEX proposals has been noted by the 'Florence' Regulators' Forum, which has therefore encouraged ETSO and EuroPEX to work together to develop joint proposals. They have responded by setting up a Joint Working Group, which has produced this report to describe its progress to date. Currently, there exists a wide variety of organisational structures and operational practices in Europe. Consequently, ETSO and EuroPEX agreed at an early stage that, although a joint vision of a flow-based market coupling (FMC) model should be developed, it was equally important to identify how the current arrangements could evolve towards it in a series of practical steps. The work is not yet complete. This is an interim report designed to expose ideas at an early stage to enable Regulators, Users and other interested parties to join the

  3. Restructuring Electricity Markets when Demand is Uncertain

    DEFF Research Database (Denmark)

    Boom, Anette; Buehler, Stefan

    2006-01-01

    We examine the effects of reorganizing electricity markets on capacity investments, retail prices and welfare when demand is uncertain. We study the following market configurations: (i) integrated monopoly, (ii) integrated duopoly with wholesale trade, and (iii) separated duopoly with wholesale...... trade. Assuming that wholesale prices can react to changes in retail prices (but not vice versa), we find that generators install sufficient capacity to serve retail demand in each market configuration, thus avoiding blackouts. Furthermore, aggregate capacity levels and retail prices...

  4. Slovenian and Spanish electricity markets

    International Nuclear Information System (INIS)

    Bregar, Z.

    2004-01-01

    Spanish electricity market has served as a basic model in the construction of the electricity market in Slovenia. However, in the final phase of its development additional solutions were adopted from other European and worldwide electricity markets. The electricity market thus obtained is in some aspects more complex and in others simpler with regard to the original model. This article describes two of the new solutions on the Slovenian electricity market: the introduction of numerous standardized electric energy products (Band, Peak, Off-peak, Hourly power etc.) to be traded on completely separate markets, and the introduction of continuous, real-time type trading on all of them but the hourly market.(author)

  5. Regionalism versus integration of the EU electricity market : An open debate from the comparative and prospective analysis of regulatory regimes in the central European countries

    Energy Technology Data Exchange (ETDEWEB)

    Engoian, Alda; Mouchart, Christel

    2005-12-15

    The failure of integration of 25 national energy markets into an unique one has been clearly expressed by the European Commission in its last benchmarking report. This working paper investigate the question of the more appropriate and realistic market design to limit perverse effects linked to the gaps between Western and Eastern European electricity markets. The paper consists in comparing electricity regulations per segment of the value chain in the CECs (Czech Republic, Hungary, Poland, Slovakia) characterized by industrial structures stemming from the socialism. Our regulatory approach and the example of South-East Europe support the idea of regionalism as an interim stage towards a final integrated European market. This regionalism based on the Standard Market Design concept, with flexible principles, and simultaneously combined to national reforms would seem to be a ''key of success''. (Author)

  6. Regionalism versus integration of the EU electricity market : An open debate from the comparative and prospective analysis of regulatory regimes in the central European countries

    International Nuclear Information System (INIS)

    Engoian, Alda; Mouchart, Christel

    2005-01-01

    The failure of integration of 25 national energy markets into an unique one has been clearly expressed by the European Commission in its last benchmarking report. This working paper investigate the question of the more appropriate and realistic market design to limit perverse effects linked to the gaps between Western and Eastern European electricity markets. The paper consists in comparing electricity regulations per segment of the value chain in the CECs (Czech Republic, Hungary, Poland, Slovakia) characterized by industrial structures stemming from the socialism. Our regulatory approach and the example of South-East Europe support the idea of regionalism as an interim stage towards a final integrated European market. This regionalism based on the Standard Market Design concept, with flexible principles, and simultaneously combined to national reforms would seem to be a ''key of success''. (Author)

  7. Regulation of distributed generation. A European Policy Paper on the Integration of Distributed Generation in the Internal Electricity Market

    International Nuclear Information System (INIS)

    Van Sambeek, E.J.W.; Scheepers, M.J.J.

    2004-06-01

    In the SUSTELNET project criteria and guidelines have been developed that can create a level playing field in electricity markets between distributed generation (DG) and large scale power generation and will improve the network and market access of DG and electricity supply from renewable energy resources (RES). This report focuses on the European dimensions of DG regulation. The key findings of the SUSTELNET project are compared with the EU legislation, i.e. the current Electricity, Renewables and CHP Directives. Additional EU policy, regulation and initiatives are identified that can help Member States in developing future economically efficient and sustainable electricity supply systems

  8. Market power and storage in electricity markets

    International Nuclear Information System (INIS)

    Skaar, Jostein

    2004-05-01

    Market power in liberalised electricity markets dominated by hydropower is analyzed in four chapters. The existing literature on competition in hydropower markets is briefly presented and examined. Chapter 1 discusses the effects of market power in the context of acquisitions in a situation where transmission capacity is constrained. Chapter 2 and 3 elaborate on the issue of competition and market power when water inflow is uncertain, and finally Chapter 4 focuses on the supply function equilibrium model in the context of a hydropower market

  9. The economics of renewable electricity market integration. An empirical and model-based analysis of regulatory frameworks and their impacts on the power market

    Energy Technology Data Exchange (ETDEWEB)

    Nicolosi, Marco

    2012-07-01

    As power systems increase in complexity due to higher shares of intermitting RES-E, so increase the requirements for power system modeling. This thesis shows empirically, with examples from Germany and Texas, that the increasing RES-E share strongly affects current power market operation. The markets further create price signals, which lead to system adaptations in the long-run. To get an estimate of the adaptation effects, 'The High Temporal Resolution Electricity Market Analysis Model' (THEA) has been developed. In a first application for the ERCOT market in Texas, particular model attributes are tested and compared to some complexity reducing approaches, i.e. the reduction of temporal resolution and the reduction of operational constraints. In both cases, the results show significant differences compared to the results when the full spectrum of THEA's capabilities is utilized. The ERCOT case study additionally shows that the adaptation to RES-E in an isolated, mainly thermal-based power system is quite severe. Market signals which underline this conclusion are the severely reduced value of wind energy, the increasing curtailment and the strong shift towards peak-oriented generating capacities. The second application of THEA models the German power market with its interconnected markets. This analysis increases the complexity significantly by modeling a well interconnected system, increasing the amount of different RES-E technologies and adding CAES investment options. In order to assess the impact on the different system component's supply, demand and grid infrastructure, specific measures are applied to compare several scenarios. Each scenario represents a policy option, which either reduces or increases the flexibility of the power system. The scenario comparisons capture the effects of a lower RES-E share, a larger baseload capacity fleet, higher interconnector capacities, various RES-E support scheme designs and the capability of RES-E to

  10. Comparison of Long-Term Contracts and Vertical Integration in Decentralised Electricity Markets

    OpenAIRE

    MEADE, Richard; O'CONNOR, Seini

    2009-01-01

    Decentralised electricity systems require effective price and quantity risk management mechanisms, but the nature of such systems poses particular problems for satisfying those requirements. Among these problems are investment hold-up risks rooted in the competition facing both electricity retailers and large industrial firms. Additional problems include those of load profile, information and bargaining mismatches between generators and customers. Significantly, hold-up risks exist not only b...

  11. The Nordic financial electricity market

    Energy Technology Data Exchange (ETDEWEB)

    2010-11-15

    NordREG is a cooperation of the Nordic energy regulators. The mission is to actively promote legal and institutional framework and conditions necessary for developing the Nordic and European electricity markets. The financial market is an important market for market participants to mitigate their risks. By providing tools for risk management, the financial market contributes to the efficient functioning of both wholesale and end-user markets. NordREG decided during 2009 to undertake a study on the Nordic financial electricity market. The aim of the report is to consider whether any improvements can be made to further increase the efficiency of the Nordic financial electricity market in order to secure an optimal price setting in the wholesale and the end-user markets

  12. Demand Side Management in an Integrated Electricity Market: What are the Impacts on Generation and Environmental Concerns?

    International Nuclear Information System (INIS)

    Bergaentzle, Claire; Clastres, Cedric

    2013-05-01

    Smart Grid technology appears necessary to succeed in activating the demand through demand side management (DSM) programs. This would in turn improve energy efficiency and achieve environmental targets through controlled consumption. The many pilot projects led worldwide involving smart grids technology, brought quantitative evaluations of DSM measures on electricity load. Efficient DSM instruments must be fine-tuned to respond to very specific issues arising from the generation mix, the integration of intermittent energies or the level of outage risks faced during peak period. Efficient DSM strategies are illustrated through a model involving five countries that carry these different features and under the assumptions of isolated and fully interconnected markets. This paper aims at bringing recommendations regarding the instruments that should be implemented to maximize the benefits of smart grids technology and demand response. Finally, it tends to emphasis the issue of homogenized energy efficiency policies, critical in the building of internal energy markets such as the one the European Union is envisioning. (authors)

  13. Eu-wide electric companies: a market model or an integrated model?

    International Nuclear Information System (INIS)

    Glachant, J.M.

    2007-01-01

    The European energy market has not arisen out of political decisions; it has been built by firms. The activities and domains of these firms have been europeanized. Nonetheless, political decision-making is necessary to orient this Europeanization by bringing national regulations closer and overseeing competition at the E.U. level. (author)

  14. How to make a European integrated market in small and isolated electricity systems? The case of the Canary Islands

    International Nuclear Information System (INIS)

    Perez, Yannick; Ramos Real, Francisco Javier

    2008-01-01

    This paper presents a geographic dimension not often studied in the dynamics of creating an internal market for electricity within the European Union, namely the case of small European electricity systems like those found on the Greek islands of Cyprus and Crete. Our question, then, is how to achieve a suitable internal market for electricity in small and isolated systems. To address this issue, we identify the main problems to be overcome by introducing a methodology in which the Canary Islands experience is taken as a case study for understanding the challenges in creating an 'EU-like market for electricity'. Our results show that the design of the vertical industrial structure and the figure of the grid operator and its attributes are key features for the proper operation of any electrical system. We also stress the minor roles of other possible options to achieve this EU-compatible market by highlighting first, in the wholesale market, the call-for-tender solution to introduce more generation and the risk of using safety requirements as barriers to entry in these small markets, and second, in the supply activities, the potential problems of an improperly regulated tariff scheme. (author)

  15. Market research for electric utilities

    Energy Technology Data Exchange (ETDEWEB)

    Shippee, G.

    1999-12-01

    Marketing research is increasing in importance as utilities become more marketing oriented. Marketing research managers need to maintain autonomy from the marketing director or ad agency and make sure their work is relevant to the utility's operation. This article will outline a model marketing research program for an electric utility. While a utility may not conduct each and every type of research described, the programs presented offer a smorgasbord of activities which successful electric utility marketers often use or have access to.

  16. Salt Lake City Utah Integrated Projects electric power marketing. Final environmental impact statement, Volume 5: Appendix E

    International Nuclear Information System (INIS)

    1996-01-01

    The Colorado River Storage Project Customer Service Office of the Western Area Power Administration (Western) markets electricity produced at hydroelectric facilities operated by the Bureau of Reclamation. The facilities are known collectively as the Salt Lake City Area Integrated Projects (SLCA/IP) and include dams equipped for power generation on the Colorado, Green, Gunnison, and Rio Grande rivers and on Plateau Creek in Arizona, Colorado, Utah, Wyoming, and New Mexico. Of these facilities, only the Glen Canyon Unit, the Flaming Gorge Unit, and the Aspinall Unit (which includes Blue Mesa, Morrow Point, and Crystal dams) are influenced by Western power scheduling and transmission decisions. The environmental impact statement (EIS) alternatives, called commitment-level alternatives, reflect combinations of capacity and energy that would feasibly and reasonably fulfill Western's firm power marketing responsibilities, needs, and statutory obligations. The viability of these alternatives relates directly to the combination of generation capability of the SLCA/IP with energy purchases and interchange. The economic and natural resource assessments in this EIS include an analysis of commitment-level alternatives. Impacts of the no-action alternative are also assessed. Supply options, which include combinations of electrical power purchases and hydropower operational scenarios reflecting different operations of the dams, are also assessed. The EIS evaluates the impacts of these scenarios relative to socioeconomics, air resources, water resources, ecological resources, cultural resources, land use, recreation, and visual resources. Western has identified commitment-level alternative 1, the Post-1989 commitment level, as its preferred alternative. The impact evaluations indicate that this commitment level is also the environmentally preferred alternative

  17. Salt Lake City Area Integrated Projects electric power marketing -- Final environmental impact statement. Volume 2: Sections 1--16

    International Nuclear Information System (INIS)

    1996-01-01

    The Colorado River Storage Project Customer Service Office of the Western Area Power Administration (Western) markets electricity produced at hydroelectric facilities operated by the Bureau of Reclamation. The facilities are known collectively as the Salt Lake City Area Integrated Projects (SLCA/IP) and include dams equipped for power generation on the Colorado, Green, Gunnison, and Rio Grande rivers and on Plateau Creek in Arizona, Colorado, Utah, Wyoming, and New Mexico. Of these facilities, only the Glen Canyon Unit, the Flaming Gorge Unit, and the Aspinall Unit (which includes Blue Mesa, Morrow Point, and Crystal dams) are influenced by Western power scheduling and transmission decisions. The environmental impact statement (EIS) alternatives, called commitment-level alternatives, reflect combinations of capacity and energy that would feasibly and reasonably fulfill Western's firm power marketing responsibilities, needs, and statutory obligations. The viability of these alternatives relates directly to the combination of generation capability of the SLCA/IP with energy purchases and interchange. The economic and natural resource assessments in this EIS include an analysis of commitment-level alternatives. Impacts of the no-action alternative are also assessed. Supply options, which include combinations of electrical power purchases and hydropower operational scenarios reflecting different operations of the dams, are also assessed. The EIS evaluates the impacts of these scenarios relative to socioeconomics, air resources, water resources, ecological resources, cultural resources, land use, recreation, and visual resources. Western has identified commitment-level alternative 1, the Post-1989 commitment level, as its preferred alternative. The impact evaluations indicate that this commitment level is also the environmentally preferred alternative

  18. Salt Lake City Area Integrated Projects electric power marketing final environmental impact statement. Volume 4: Appendixes B-D

    International Nuclear Information System (INIS)

    1996-01-01

    The Colorado River Storage Project Customer Office of the Western Area Power Administration (Western) markets electricity produced at hydroelectric facilities operated by the Bureau of Reclamation. The facilities are known collectively as the Salt Lake City Area Integrated Projects (SLCA/IP) and include dams equipped for power generation on the Colorado, Green, Gunnison, and Rio Grande rivers and on Plateau Creek in Arizona, Colorado, Utah, Wyoming, and New Mexico. Of these facilities, only the Glen Canyon Unit, the Flaming Gorge Unit, and the Aspinall Unit (which includes Blue Mesa, Morrow Point, and Crystal dams) are influenced by Western power scheduling and transmission decisions. The environmental impact statement (EIS) alternatives, called commitment-level alternatives, reflect combinations of capacity and energy that would feasibly and reasonably fulfill Western's firm power marketing responsibilities, needs, and statutory obligations. The viability of these alternatives relates directly to the combination of generation capability of the SLCA/IP with energy purchases and interchange. The economic and natural resource assessments in this EIS include an analysis of commitment-level alternatives. Impacts of the no-action alternative are also assessed. Supply options, which include combinations of electrical power purchases and hydropower operational scenarios reflecting different operations of the dams, are also assessed. The EIS evaluates the impacts of these scenarios relative to socioeconomics, air resources, water resources, ecological resources, cultural resources, land use, recreation, and visual resources. Western has identified commitment-level alternative 1, the Post-1989 commitment level, as its preferred alternative. The impact evaluations indicate that this commitment level is also the environmentally preferred alter native

  19. The North American electricity markets

    International Nuclear Information System (INIS)

    Harvie, I.

    1999-01-01

    The wide ranging changes that will drive the evolution of the North American electricity industry in the future are discussed. Deregulation and the advent of competition in both the United States and Canada are the principal forces that will change the shape of the electricity market, bringing new players and new forms of doing business into the marketplace. A review of the current state of the business shows that especially in the United States where deregulation began earlier than in Canada, independent generators already constitute a multi-billion dollar industry. Non-utility generation capacity is about seven per cent of total U.S. capacity and accounts for about 10 per cent of total U. S. electricity supply, including imports. Examples from other industries clearly show that restructuring and the breakup of vertically integrated industries could be accomplished much faster than anticipated, that a decrease in prices followed rapidly as products became more like commodities, and that decreasing prices fostered product differentiation and competition. Major legislation affecting the electric power industry in the U.S. and Canada (U.S. National Energy Policy Act 1992, Alberta Electric Utilities Act 1995, Ontario Energy Competition Act 1998) decreeing open access transmission, unbundling of generation, transmission and ancillary services, and promoting competition, and the impacts of these legislative actions are also reviewed. The most visible impact is the explosion that can be seen in power marketing and energy trading on a scale unimaginable only a few short years ago, where the total volume of trade may be worth multiples of the value of the underlying commodity. At the same time, there is concern about the reliability of the system, and thus making it imperative to find new ways to manage reliability. Various suggestions are made as to how increased reliability of supply could be achieved by better management, new standards and better enforcement of

  20. Competition compliant wholesale electricity prices. An examination of the regulation on the integrity and transparency of wholesale energy market

    International Nuclear Information System (INIS)

    Konar, Selma

    2015-01-01

    The development of wholesale electricity prices showed in recent years a very fluctuating course. The starting point for ensuring competitive compliant electricity prices have uniform rules that establish effective competition in the overall wholesale electricity, ensure greater transparency in the market and prohibit market abuse influence exercised on the wholesale price. The REMIT regulation creates a first union-law rules to this standardized specifications. The volume first examines the transparency, competitiveness, and supervisory structures in the wholesale electricity before legislating a regulation. It is clear, as the transparency and supervisory structures should be designed from the wholesale electricity ideally. On this basis, the work is dealing with the REMIT regulation. The author works out to market participants relevant notification and publication requirements, the follow-up demands on the company as well as the now existing prohibitions on market abuse and the related penalty catalog and analyze the supervisory structures newly created in the wholesale electricity. Here, the work also identified the weaknesses of the regulation and shows suitable solution approaches. [de

  1. The integration of the periodic production in the liberalized electric power markets: from the technic expenditures to the economic taxes imposed by the operating rules of the markets

    International Nuclear Information System (INIS)

    Menanteau, Ph.; Finon, D.; Lamy, M.L.

    2003-03-01

    In the framework of the climatic change and the energy supply safety, the european directive aims to promote the renewable energy production in Europe. Some of the renewable energy sources, as the wind power or the micro-hydroelectric power, are naturally periodic. Their introduction in the electric networks will create problems because of this periodic nature, problems which are new for the electric network producers and managers. These problems generate technical expenditures, which may be compensate by the economic penalties of the electric power market operating. In this context the document details the expenditures associated to the periodicity, the economic penalties by an analysis of the british market and analyses the possibilities to limit these economic penalties in order to reduce the conflicts between the electric market liberalization and the promotion of the renewable energies development. (A.L.B.)

  2. Portfolio optimization in electricity markets

    International Nuclear Information System (INIS)

    Liu, Min; Wu, Felix F.

    2007-01-01

    In a competitive electricity market, Generation companies (Gencos) face price risk and delivery risk that affect their profitability. Risk management is an important and essential part in the Genco's decision making. In this paper, risk management through diversification is considered. The problem of energy allocation between spot markets and bilateral contracts is formulated as a general portfolio optimization problem with a risk-free asset and n risky assets. Historical data of the PJM electricity market are used to demonstrate the approach. (author)

  3. Assessing the efficiency of US electricity markets

    International Nuclear Information System (INIS)

    Arciniegas, I.; Barrett, C.; Marathe, A.

    2003-01-01

    The recent California's energy crisis has raised doubts about the benefits of energy deregulation. While it is true that the California electricity market is in turmoil, other electricity markets like the Pennsylvania-NewJersey-Maryland (PJM) are doing fine. This paper assesses the mark of efficiency reached by the electricity markets in California, New York, and PJM. It also compares the degree of efficiency across markets (forward vs. real time) and across time. No significant differences between the California and PJM electricity markets were discovered in the year of California's energy crisis (2000) using the co-integration tests. This research suggests that differences in price behavior between these two markets during 2000 did not arise from differences in efficiency. According to our analysis and measures of efficiency, PJM and California electricity markets are more efficient than the New York market. Also, as these markets become more mature over time, their efficiency level goes up. We also found evidence that a multi-settlement scheduling system leads to higher efficiency. (author)

  4. The electricity market in transition: a decoding

    International Nuclear Information System (INIS)

    Mathieu, Mathilde; Schwarz, Virginie; Chapon, Antoine; Fouquet, Doerte; Joos, Marine; Jedliczka, Marc; Siess, Damien

    2015-01-01

    A set of article proposes a discussion of the main challenges for energy transition for the architecture of the European electricity market, an interview of the responsible of the energy department within the French ministry of ecology (she addresses the issues of market, electricity system, renewable energies), a discussion of the first lessons learned from the integration of renewable energies in the electricity market, a comment on hazardous evolutions for independent producers, a discussion of the pilot stage for bidding in Germany, a discussion of false ideas and true challenges in the relationship between demand management and integration, a comment on the evolution towards a complete reform of the support system for renewable energies, and a discussion of the perspectives beyond 40 per cent of renewable energies in the French electricity mix

  5. Electricity regulation and electricity market reforms in China

    International Nuclear Information System (INIS)

    Ngan, H.W.

    2010-01-01

    The electricity industry of China has been in a process of reforms since the 1980s. This paper gives a review on the three main stages of reforms in China so as to trace out key features of various reform measures including those for power investment financing, the separation between government and power enterprises, and the division between power generation firms and power grids. The findings suggest that further regulatory change in China's electricity market reform is necessary when integration of the electricity markets and increased competition are paving the way ahead for a market-oriented structure. Prospective electricity regulation in the form of a strong legal system and effective institutions that protect market competition and promote appropriate incentives for efficiency are suggested in the paper. (author)

  6. Electricity market dynamics: Oligopolistic competition

    International Nuclear Information System (INIS)

    Gutierrez-Alcaraz, G.; Sheble, Gerald B.

    2006-01-01

    Presently, electricity markets are characterized by a small number of suppliers with distributed resources. These market suppliers can easily be identified because their geographic location is known. Essentially, two or three of them compete for leading the market whereas the rest of them follow. Hence, it is necessary to study the market structure as ologopolistic competition rather than perfect competition. This paper studies market producer decisions in a dynamic sequential framework by using discrete event system simulation (DESS) also known as discrete control theory. Two-player ologopolistic market structure is presented in this paper. (author)

  7. Wind up with continuous intra-day electricity markets? The integration of large-share wind power generation in Denmark

    International Nuclear Information System (INIS)

    Karanfil, Fatih; Li, Yuanjing

    2015-01-01

    This paper suggests an innovative idea to examine the functionality of an electricity intra-day market by testing causality among its fundamental components. As fluctuations of poorly predicted wind power generation are challenging the stability of the current electricity system, an intra-day market design can play an important role in managing wind forecast errors. Using Danish and Nordic data, it investigates the main drivers of the price difference between the intra-day and day-ahead markets, and causality between wind forecast errors and their counterparts. Our results show that the wind and conventional generation forecast errors significantly cause the intra-day price to differ from the day-ahead price, and that the relative intra-day price decreases with the unexpected amount of wind generation. Cross-border electricity exchanges are found to be important to handle wind forecast errors. Additionally, some zonal differences with respect to both causality and impulse responses are detected. This paper provides the first evidence on the persuasive functioning of the intra-day market in the case of Denmark, whereby intermittent production deviations are effectively reduced, and wind forecast errors are jointly handled through the responses from demand, conventional generation, and intra-day international electricity trade. (authors)

  8. Bidding behavior when one bidder and the auctioneer are vertically integrated: implications for the partial deregulation of EU electricity markets

    Czech Academy of Sciences Publication Activity Database

    van Koten, Silvester

    -, č. 313 (2006), s. 1-35 ISSN 1211-3298 R&D Projects: GA MŠk LC542 Institutional research plan: CEZ:AV0Z70850503 Keywords : asymmetric auctions * bidding behavior * electricity markets Subject RIV: AH - Economics http://www.cerge-ei.cz/pdf/wp/Wp313.pdf

  9. Integrated Marketing Communications

    Science.gov (United States)

    Black, Jim

    2004-01-01

    Integration has become a cliche in enrollment management and student services circles. The term is used to describe everything from integrated marketing to seamless services. Often, it defines organizational structures, processes, student information systems, and even communities. In Robert Sevier's article in this issue of "College and…

  10. Integration of liberalised energy market

    International Nuclear Information System (INIS)

    Klinge Jacobsen, H.; Fristrup, P.; Munksgaard, J.; Pade, L.L.; Henriksen, T.C.

    2004-03-01

    The markets for electricity, natural gas and district heating are inter-linked both with respect to the energy flows and with respect to ownership of supply sources and infrastructure. The extent and the possible consequences of these linkages are examined in this report. The options for public interventions in these markets are analysed to compare instruments with respect to their ability to provide the necessary incentives for an efficient functioning of the liberalised markets. Aspects of retail markets with households facing multi-product distribution companies and aspects of the production of combined heat and power based on natural gas has been covered. This project identifies some important aspects related to final consumers and the interaction of markets with different types of regulation and scope for liberalisation. From a Danish perspective the district heat market and the dependence on market conditions for natural gas is a specific concern. Consumer concerns also relate to the creation of multi-product energy distribution companies that are privately owned and possibly controlled by foreign interests. Such companies might use bundled sales of energy products to extent their dominant position in one market e.g. a regulated heat market to a market with considerable competition (electricity). Bundled sales would not necessarily result in a loss for the consumer due to economies of scope in supplying energy products. However, the regulatory authorities responsible for district heat prices will have a more complicated job in surveying the bundled price setting. Integration of activities within natural gas distribution and CHP production has been analysed with respect to incentives and welfare implications. Results of the project point to critical market conditions and identify areas of concern for regulatory policies. The analysis shows that there is a large welfare loss associated with having monopolies in both natural gas supplies and the CHP production

  11. Electricity marketing and retailing

    International Nuclear Information System (INIS)

    Phillips, E.

    2001-01-01

    This power point presentation outlined the values of wholesale and retail marketing of natural gas to offer choice to all Canadians. The initial wholesale market dealt with physical bilaterals, financial bilaterals and transmission rights, while the mature wholesale market deals with futures contracts, reserve markets, dispatchable loads, swaps, trades and emissions trading. Wholesale prices include debt reduction charges, transmission charges transformation charges, ancillary charges, and independent market operator (IMO) fees. Retail rates offered by local distribution companies (LDC) include distribution charges, adjustments to SSS, and distribution losses. The role of marketers is to provide consumers with what they want, which is annual fixed rates with aggregation and load profiling as well as billing and procurement services

  12. Electricity market design of the future

    International Nuclear Information System (INIS)

    Peek, Markus; Diels, Robert

    2016-01-01

    The transformation of the power generation system, to one in which renewable energies will form a cornerstone, will change the requirements for all market actors. To achieve the goals of the German Energiewende ('energy transition'), greater flexibility in production and consumption is of particular importance. Flexibility enables the cost-effective integration of the fluctuating actual feed-in of renewable energies. On the one hand, the technical options for reducing existing technical inflexibilities are given to a considerable extent. On the other hand, analyses of the transnational compensation effects of load and renewable energy supply (RES) feed-in show that flexibility requirements can be reduced significantly in a common electricity market. Electricity markets in which there is open technological competition are an appropriate instrument for the flexibilization of the power supply system. In the short term, the mechanisms of competitive electricity markets ensure an efficient synchronization of supply and demand. Over the medium and long term, the market creates efficient incentives to adapt the generation system and the behavior of consumers to future needs, resulting from the changes in the residual load structure. But at the same time, in recent years the occurrence of negative electricity prices in situations with significantly positive residual loads show that flexibility restraints exist. The causes of these restraints are at least partly due to the market design or the regulatory framework. On the one hand, there are barriers to market entry and, on the other hand, price signals from the electricity markets do not reach all market actors or reach them distortedly. To enable the cost effective development of the different flexibility options in an open technology competition, restraints resulting from market design and the regulatory framework (e. g. in the framework of grid charges, the market and product design of control power markets

  13. Electricity Market Manipulation: How Behavioral Modeling Can Help Market Design

    Energy Technology Data Exchange (ETDEWEB)

    Gallo, Giulia [National Renewable Energy Lab. (NREL), Golden, CO (United States)

    2015-12-18

    The question of how to best design electricity markets to integrate variable and uncertain renewable energy resources is becoming increasingly important as more renewable energy is added to electric power systems. Current markets were designed based on a set of assumptions that are not always valid in scenarios of high penetrations of renewables. In a future where renewables might have a larger impact on market mechanisms as well as financial outcomes, there is a need for modeling tools and power system modeling software that can provide policy makers and industry actors with more realistic representations of wholesale markets. One option includes using agent-based modeling frameworks. This paper discusses how key elements of current and future wholesale power markets can be modeled using an agent-based approach and how this approach may become a useful paradigm that researchers can employ when studying and planning for power systems of the future.

  14. The economics of electricity markets

    CERN Document Server

    Biggar, Darryl R

    2014-01-01

    With the transition to liberalized electricity markets in many countries, the shift to more environmentally sustainable forms of power generation and increasing penetration of electric vehicles and smart appliances, a fundamental understanding of the economic principles underpinning the electricity industry is vital. Using clarity and precision, the authors successfully explain economic theory of all liberalized electricity market types from a cross-disciplinary engineering and policy perspective. No prior engineering knowledge or economics expertise is assumed in introducing key ideas such as nodal pricing, optimal dispatch and efficient pricing or in extending those models to areas including investment, risk management and the handling of contingencies. Key features: Comprehensively covers the principles of all liberalized electricity market types, including the US, Europe, New Zealand and Australia. Provides up to date coverage of research and policy iss es, including design of financial transmission rig...

  15. Competition in electricity markets

    International Nuclear Information System (INIS)

    Taylor, W.

    1996-01-01

    This article examines expanded wholesale and retail competition and the effect that they are likely to have on the electric power industry. The author believes that expanded wholesale competition is good and will bring immediate benefit to all electric consumers; however, based on the experience of the natural gas industry and the electric power industry in California and other parts of the world, the author counsels caution in moving toward expanded retail competition

  16. Study on electricity markets in Romania

    Directory of Open Access Journals (Sweden)

    Alexandra FLOREA

    2017-03-01

    Full Text Available In this paper, we detail about the components of the wholesale electricity market in Romania: Market for Bilateral Contracts (Central Market with continuous double negotiation of bilateral electric energy contracts (CM - OTC, Centralized Market for bilateral electric energy contracts, Day-Ahead Market (DAM, Inter-Daily Market (IM, Balancing Market (BM, Centralized Market for universal service (CMUS. In addition, for each type of market we generated diagrams with the main business processes.

  17. Reforming the Russian electricity market

    International Nuclear Information System (INIS)

    Valladares, Mayra Rodriguez

    1999-08-01

    Contains Executive Summary and Chapters on: Overview; Russian energy markets; Evolution of the power sector; The electricity market; Regulation and proposed reforms; Politics in the power sector; Economics of the power sector; Regional differences; Foreign involvement; Valuation and company management; Conclusions. (Author)

  18. Lithuanian way of reforms to electricity market

    International Nuclear Information System (INIS)

    Bacauskas, A.

    2002-01-01

    Lithuania has inherited a structure of the energy industry, which originally has been developed not for the country, as an independent state, but according to the provisions of the former USSR energy policy, covering energy demand of whole region, including the Baltic countries, Belarus and the Kaliningrad region of Russia. The Lithuanian power system is interconnected by high voltage power lines and operates in parallel with Latvian, Estonian, Russian and Belarus power systems. During twelve years of independence the power sector passed significant changes from a vertically integrated monopoly to some separate power companies and meets EU requirements to an internal electricity market. The main issues of reforms: transparency of costs, commercial relations in power sector, fulfilment of the Electricity Directive 96/92/EU. The Lithuanian electricity market is small and inefficient. Current reforms of a power sector are directed to create the common Baltic electricity market. (author)

  19. Electricity wholesale market prices in Europe: Convergence?

    International Nuclear Information System (INIS)

    Zachmann, Georg

    2008-01-01

    This paper tests the hypothesis that the ongoing restructuring process in the European electricity sector has led to a common European market for electricity. Based on a Principal Component Analysis (PCA) of wholesale electricity prices in 2002-2006, we reject the assumption of full market integration. For several pairs of countries, the weaker hypothesis of (bilateral) convergence is accepted based on unit root tests (KPSS and ADF) and a convergence test based on filtered pairwise price relations. This indicates that the efforts to develop a single European market for electricity were so far only partially successful. We show that the daily auction prices of scarce cross-border transmission capacities are insufficient to explain the persistence of international price differentials. Empirically, our findings confirm the insufficiency of explicit capacity auctions as stated in the theoretical literature. (author)

  20. Management of electricity markets in European Union

    International Nuclear Information System (INIS)

    Zamfir, A.; Florescu, M.S.

    2007-01-01

    The challenges facing energy markets in Europe were discussed with particular reference to the need to integrate and interconnect national energy markets. The Romanian power market evolution since 2000 was also analyzed, taking into account the fact that the strategic objective of the Romanian Government is to assume the role of Regional Exchange in the South-East European region. A common approach to energy is needed to enable the European Union (EU) to compete in global markets, to improve sustainability in the EU and to secure energy supply. An overall framework is needed in order to achieve these objectives. This paper presented the general measures needed to complete the internal gas and electricity markets in Europe. It also proposed measures to ensure that the EU's internal energy market guarantees security of supply and solidarity between Member States. The guiding principles that an approach to information management and market transparency should be based on were described. The authors suggested that an integrated and competitive electricity and gas markets should be established to promote efficient energy services and diversify the energy mix. The measures needed in order to achieve the goal of a genuine single market at EU level were described along with the actions needed to stimulate investments in infrastructure and generation capacity. Measures to prevent or manage energy supply crises were also proposed. 4 refs., 1 tab

  1. Electric power and gas markets

    International Nuclear Information System (INIS)

    2001-01-01

    These two days organized by EFE in Paris, dealt with the european market of the gas and the electrical power. The first day developed the actual situation and the tendencies. The french market deregulation, the possibility of a united market and the energy transportation sector are discussed. The second day dealt with the new commercial technologies, the convergence of Gas and Electricity and the competing in a change world, the opportunities of the NTIC (new technologies of the information and communication). (A.L.B.)

  2. How to Organize Electricity Savings in a Liberalized Electricity Market

    DEFF Research Database (Denmark)

    Nørgaard, Jørgen

    1998-01-01

    The basic idea of Integrated Ressource Planning is described and it is demonstrated how this is in conflict with the sub-optimizing necessary in a liberalized market. Afterwards are outlined how the measuring of savings energy consumption constitutes a fundamental problem. Finally are dicussed...... the future actors in the electricity sector and their roles in implementing electricity savings, followed by some proposals for an energy policy....

  3. Essays on restructured electricity markets

    Science.gov (United States)

    Nicholson, Emma Leah

    This dissertation focuses on the performance of restructured electricity markets in the United States. In chapter 1, I study bidder-specific offer caps ("BSOCs") which are used to mitigate market power in three wholesale electricity markets. The price of electricity is determined through multi-unit uniform price auctions and BSOCs impose an upper limit, which is increasing in marginal cost, on each generator's bid. I apply BSOCs in both the uniform and discriminatory price auctions and characterize the equilibria in a two firm model with stochastic demand. BSOCs unambiguously increase expected production efficiency in the uniform price auction and they can increase the expected profit of the generator with the lower cap. Chapter 2, coauthored with Ramteen Sioshansi, Ph.D., compares two types of uniform price auction formats used in wholesale electricity markets, centrally committed markets and self committed markets. In centrally committed markets, generators submit two-part bids consisting of a fixed startup cost and a variable (per MWh) energy cost, and the auctioneer ensures that no generator operates at a loss. Generators in self committed markets must incorporate their startup costs into their one part energy bids. We derive Nash equilibria for both the centrally and self committed electricity markets in a model with two symmetric generators with nonconvex costs and deterministic demand. Using a numerical example, we demonstrate that if the caps on the bid elements are chosen appropriately, the two market designs are equivalent in terms of generator revenues and settlement costs. Regulators and prominent academic experts believe that electric restructuring polices have stifled investment in new generation capacity. In chapter 3 I seek to determine whether these fears are supported by empirical evidence. I examine both total investment in megawatts and the number of new investments across regions that adopted different electric restructuring policies to

  4. Electricity marketing and retailing

    International Nuclear Information System (INIS)

    Sandre, L.

    2001-01-01

    PremStar Metering Inc. is a division of PremStar Energy Canada. In addition to providing full-service meter and data services PremStar Metering provides collection, validation, analysis and billing services, working closely with the Ontario Energy Board, independent market operator (IMO) and Measurements Canada. This presentation addressed the market power mitigation agreement (MPMA) as well as issues dealing with wholesale competition seen mostly in the power generation sector. It was noted that the goal of the MPMA is to promote competition in the marketplace. Issues regarding the short term revenue limitation and the long term generation limitation of the MPMA were also discussed. figs

  5. Marketing of electric vehicles

    DEFF Research Database (Denmark)

    Gärling, Anita; Thøgersen, John

    In this paper, an outline of a two-phased strategy for the targeted marketing of EVs is developed based, first, on a discussion of the current and expected future characteristics of EVs and, second, on a review of research on the characteristics of early adopters of new products....

  6. Role of National Support Policy in the large-scale integration of DER into the European electricity market

    DEFF Research Database (Denmark)

    ten Donkelaar, Michael; Klinge Jacobsen, Henrik

    2008-01-01

    This report concerns a study of the DER support schemes in the different EU Member States, their effectiveness and if necessary how these might be moulded to become more cost-effective in the future to integrate much larger shares of DER in the European electricity supply system. The report is pa...

  7. Essays on environmental regulations in electricity markets

    Science.gov (United States)

    Sun, Yanming

    Reducing the Greenhouse Gas pollution and promoting energy efficiency among consumers' energy use have been major public policy issues recently. Currently, both the United States and the European Union have set up explicit percentage requirements that require energy generators or consumers to undertake a certain percentage of their energy production or consumption from renewable sources. To achieve their renewable targets, the Tradable Green Certificates (TGC) system has been introduced in their electricity markets. Moreover, in order to promote energy conservation and achieve energy efficiency targets, price policies and price changes derived from environmental regulations have played a more important role in reducing electricity consumption. My research studies problems associated with these policy implementations. In Chapter 1, I analyze a competitive electricity market with two countries operated under a common TGC system. By using geometric illustrations, I compare the two countries' welfare when the renewable quota is chosen optimally under the common certificate market with three different situations. The policy recommendation is that when the value of damage parameter is sufficiently small, full integration with a TGC market is welfare superior to full integration of an all fossil-fuel based market with an optimal emissions standard. In Chapter 2, by analyzing a stylized theoretical model and numerical examples, I investigate the performance of the optimal renewables policy under full separation and full integration scenarios for two countries' electricity markets operated under TGC systems. In my third chapter, I look at residential electricity consumption responsiveness to increases of electricity price in the U.S. and the different effect of a price increase on electricity use for states of different income levels. My analysis reveals that raising the energy price in the short run will not give consumers much incentive to adjust their appliances and make

  8. New electric power market

    International Nuclear Information System (INIS)

    Zorzoli, G.B.

    1992-01-01

    In a trend analysis of methods of energy production and use, this paper cites forecasted significant gains in efficiency through the use of combined cycles for heat and power production, and rapidly falling costs of solar and wind power plants. A technical/economic feasibility analysis is then performed on the future use of electric vehicles in Italy. Here, the paper cites the possible benefits in terms of energy conservation and air pollution abatement. A review is made of current progress in research efforts aimed at reducing electric battery sizing, weight and recharging constraints

  9. Electricity market players subgroup report

    International Nuclear Information System (INIS)

    Borison, A.

    1990-03-01

    The purpose of this study is to examine competition in the electric power industry from an ''industrial organization'' point of view. The remainder of this report is organized as follows. Chapter 2 describes the ''industrial organization'' approach used to analyze the electric power market. Industrial organization emphasizes specific market performance criteria, and the impact of market structure and behavior on performance. Chapter 3 identifies the participants in the electric power market, grouped primarily into regulated producers, unregulated producers, and consumers. Chapter 4 describes the varieties of electric power competition, organized along two dimensions: producer competition and consumer competition. Chapters 5 and 6 identify the issues raised by competition along the two dimensions. These issues include efficiency, equity, quality, and stability. Chapters 7 through 9 describe market structure, behavior and performance in three competitive scenarios: minimum competition, maximum competition, and moderate competition. Market structure, behavior and performance are discussed, and the issues raised in Chapters 5 and 6 are discussed in detail. Chapter 10 provides conclusions about ''winners and losers'' and identifies issues that require further study

  10. Electricity market under change

    International Nuclear Information System (INIS)

    1992-11-01

    The electric power sector of the countries and their many problems are described. Statistical data on supply and demand pieces, primary energy use et cetera are given. A brief overview of the economical situation, and a discussion of nuclear power safety in the area are presented. (34 refs., 7 figs., 37 tabs.)

  11. Integration of European Bond Markets

    DEFF Research Database (Denmark)

    Christiansen, Charlotte

    2014-01-01

    I investigate the time variation in the integration of EU government bond markets. The integration is measured by the explanatory power of European factor portfolios for the individual bond markets for each year. The integration of the government bond markets is stronger for EMU than non-EMU memb......I investigate the time variation in the integration of EU government bond markets. The integration is measured by the explanatory power of European factor portfolios for the individual bond markets for each year. The integration of the government bond markets is stronger for EMU than non...

  12. The reform of the Swedish electricity market

    International Nuclear Information System (INIS)

    Petsala, B.

    1995-01-01

    The objective of the ongoing reform of deregulation of the electricity market in Sweden is to create and improve the prerequisites for more efficient use of the generation and distribution, thus bringing about a more efficient price building. Similar reforms take place in the other Nordic countries. As a result of these changes the possibilities for international trade in electricity increases considerably. Tendencies towards concentration of production and distribution as well as increased vertical integration make it important for the State to monitor the development and if necessary suggest measures to counteract possible undesired effects. The national character of the former electricity market does no longer constitute a restriction to trade and the power companies already operate in each other's market. (author). 2 figs., 4 tabs., 6 refs

  13. Electricity costs in liberalized market

    International Nuclear Information System (INIS)

    Barkans, J.; Junghans, G.

    2006-01-01

    In the liberalized electricity market the flexible demand determines the operation of power plants. Under market conditions the producers are forced to compete, and their power plants are normally loaded in order of increasing prices. The electricity costs consist of fixed and variable components, and the competition among producers simulates minimization of both the components. Considering the fixed costs (including maintenance, depreciation, capital costs and other permanent costs not depending on production) to be known, the total electricity costs in different operating conditions are based on the economic characteristics and the equipment load of a power plant. The paper describes the method for determination of electricity costs for condensing thermal power plants with permanent steam take-off for regeneration purposes and adjustable steam take-off for the needs of local heat energy consumers. The marginal costs for CHP plants are determined considering a number of different steam take-off from a turbine. At the electricity cost determination, auxiliary services also are taken into account. These can be reduced by adjusting the rotational speed of electric motors. The paper also shows how to determine the electricity costs for gas turbines, combined cycle gas turbines, and nuclear power plants. The position of hydro power plants among other PPs in the free market is also analysed. (authors)

  14. Electricity market design for the prosumer era

    Science.gov (United States)

    Parag, Yael; Sovacool, Benjamin K.

    2016-04-01

    Prosumers are agents that both consume and produce energy. With the growth in small and medium-sized agents using solar photovoltaic panels, smart meters, vehicle-to-grid electric automobiles, home batteries and other ‘smart’ devices, prosuming offers the potential for consumers and vehicle owners to re-evaluate their energy practices. As the number of prosumers increases, the electric utility sector of today is likely to undergo significant changes over the coming decades, offering possibilities for greening of the system, but also bringing many unknowns and risks that need to be identified and managed. To develop strategies for the future, policymakers and planners need knowledge of how prosumers could be integrated effectively and efficiently into competitive electricity markets. Here we identify and discuss three promising potential prosumer markets related to prosumer grid integration, peer-to-peer models and prosumer community groups. We also caution against optimism by laying out a series of caveats and complexities.

  15. Predictability of Wave Energy and Electricity Markets

    DEFF Research Database (Denmark)

    Chozas, Julia Fernandez

    2012-01-01

    The articlw addresses an important challenge ahead the integration of the electricity generated by wave energy conversion technologies into the electric grid. Particularly, it looks into the role of wave energy within the day-ahead electricity market. For that the predictability of the theoretical...... power outputs of three wave energy technologies in the Danish North Sea are examined. The simultaneous and co-located forecast and buoy-measured wave parameters at Hanstholm, Denmark, during a non-consecutive autumn and winter 3-month period form the basis of the investigation. The objective...

  16. Market integration in the crustaceans market

    DEFF Research Database (Denmark)

    Ankamah-Yeboah, Isaac; Bronnmann, Julia

    2018-01-01

    are substitutes. Price determination processes for the shrimp markets vary with the level of the value chain. The results imply that the wild and farmed crustaceans markets are interacting through substitution effects. Hence, the markets have the capability to shield volatile and rising prices that would emanate......In this paper the price dynamics and the degree of market integration in the German crustaceans market is examined using cointegration methods. The study focuses on wild caught cold water shrimp, farmed warm water shrimp as well as lobster and derives implications for the fisheries sector....... In the analysis, both the import market and the retail market price reactions are distinguished. Therefore, it is evaluated how price changes affect competing commodities within and between the value chain of a given crustaceans commodity. Evidence of partial market integration is found for all species under...

  17. Research document no. 24. The integration of european electric markets: from the national markets juxtaposition to the establishment of a regional market; Cahier de recherche no. 24. L'integration des marches electriques europeens: de la juxtaposition de marches nationaux a l'etablissement d'un marche regional

    Energy Technology Data Exchange (ETDEWEB)

    Finon, D

    2000-11-01

    After the transcription of the electricity directive in national legislations, the European electricity market appears to be a vast set of juxtaposed markets which are weakly connected at the level of their wholesale contracts compartment. Referring to the technological peculiarities of electricity as a commodity, the paper identifies the direct conditions of regional integration of the electricity markets, those which would favour cross-border trade and allow to be near the normal functioning of a regional commodity market. The infrastructure network dependence and the need of a stringent technical coordination necessitate to unify the operation of the different systems and the rules of access, or at the least to come near this unification by strong coordination. A second major condition, which is not fully debated, is the increasing connexion of short-term markets, via daily physical trade and emergence of a European financial market, which could trade various standardised contracts referring to a single hourly spot price, or to prices in various delivery points. To reach such an integration, two paths are possible: either concentration into one single organised power exchange as the Nordic pool, or rules harmonization of the various power exchanges which would be a minimal requirement to allow arbitrations between them. (author)

  18. Electricity Markets Ontology to Support MASCEM's Simulations

    DEFF Research Database (Denmark)

    Santos, Gabriel; Pinto, Tiago; Vale, Zita

    2016-01-01

    the several issues related to these systems, including the involved players that act in this domain. To take better advantage of these systems, their integration is mandatory. The main contribution of this paper is the development of the Electricity Markets Ontology, which integrates the essential concepts...... necessary to interpret all the available information related to electricity markets, while enabling an easier cooperation and adequate communication between related systems. Additionally, the concepts and rules defined by this ontology can be extended and complemented according to the needs of other......Power systems worldwide are complex and challenging environments. The increasing necessity for an adequate integration of renewable energy sources is resulting in a rising complexity in power systems operation. Multi-agent based simulation platforms have proven to be a good option to study...

  19. Nordic Market report 2010. Development in the Nordic Electricity Market

    Energy Technology Data Exchange (ETDEWEB)

    2010-07-15

    The Nordic region is characterized by a unique mix of generation sources, with a very high share of hydropower. Hydropower accounts for virtually all of the Norwegian and nearly half of the Swedish generation capacity, making the level of precipitation vital when calculating and analysing potential generation levels. Climatic conditions such as, significantly colder winters than any other European country also influence consumption in the Nordic region, as many households are electrically heated. Overall electricity consumption in the Nordic region in 2009 was marked by decreasing consumption in every market - from a decrease of 1,5% in Denmark to a decrease of 5,5% in Finland. The Nordic transmission grid connects almost the entire region into one synchronous power system enabling increased security of supply as well as a more efficient use of the generation capacity, but congestion occurs. Congestions between the Nord Pool bidding areas are handled through market splitting, while internal congestions in general are handled through counter trade or by reducing interconnector capacity at the bidding area borders. The key future challenge for transmission network operations both in the Nordic area, and as well on the European level will be to facilitate the functioning of the pan-European wholesale electricity markets. The Nordic wholesale power market is well functioning. The volume traded at Nord Pool in 2009 was about the same share of total consumption as that of 2008. Although trading at Nord Pool is voluntary, significantly more power is traded on the power exchange than bilaterally. During 2009 average spot prices at Nord Pool were lower than prices in 2008 due to both lower demand and generation costs for thermal power plants for most of 2009. The Nordic retail markets are essentially four separate markets, influenced by national differences, but work on integration has started. Throughout 2009 retail prices in the Nordic region were lower than in 2008

  20. The Nordic electricity market towards 2010

    International Nuclear Information System (INIS)

    Aune, Finn Roar; Johnsen, Tor Arnt

    2001-01-01

    This article opens by examining the development of the Nordic power market in the 1990s. It tries to establish that the power market is a complex one. The market conditions vary greatly from one region to another and over time, and there is varying degree of integration among the regional markets. Thus, analyses of policy and political measures must be based on a detailed computational tool. In the SAMRAM project ''Power trade and Transmission'', such a computational model has been established, Normod-T. The article describes the principle features of the model and uses it to study the development of the Nordic power market toward the year 2010. It further analyses the impact of building gas power plants in Norway and of establishing a new cable for transmission of electric power between Norway and Germany

  1. The unavoidable increase in electricity prices in France: should the effects of the European market integration be corrected?

    International Nuclear Information System (INIS)

    Finon, D.; Glachant, J.M.

    2008-01-01

    The competitive reform will unavoidably generate a price increase for French consumers when the regulated price is removed. That increase is due to the competitive hourly rate formation system in the continental market. The system allows existing nuclear equipment of all European producers to generate a rarity income, without this triggering nuclear investment decisions due to political obstacles. The sacrifice of French consumers does not imply later price decreases failing such investments. The benefit sought by the integration of the market for European consumer benefit cannot be achieved. The rarity income from existing equipment only benefits the shareholders of companies holding existing low combustible cost equipment, including the historical French operator. This article details this nuclear rarity income analysis and reviews several compensation approaches to reconcile French consumers with the construction dynamics of a competitive European market. Such re-allotment systems need to be both simple and perceived as a compensation for potential price increase, and not alter drastically the operation of the new markets. (authors)

  2. SOLID-DER. Reaching large-scale integration of Distributed Energy Resources in the enlarged European electricity market

    International Nuclear Information System (INIS)

    Van Oostvoorn, F.; Ten Donkelaar, M.

    2007-05-01

    The integration of DER (distributed energy resources) in the European electricity networks has become a key issue for energy producers, network operators, policy makers and the R and D community. In some countries it created already a number of challenges for the stability of the electricity supply system, thereby creating new barriers for further expansion of the share of DER in supply. On the other hand in many Member States there exists still a lack of awareness and understanding of the possible benefits and role of DER in the electricity system, while environmental goals and security of supply issues ask more and more for solutions that DER could provide in the future. The project SOLID-DER, a Coordination Action, will assess the barriers for further integration of DER, overcome both the lack of awareness of benefits of DER solutions and fragmentation in EU R and D results by consolidating all European DER research activities and report on its common findings. In particular awareness of DER solutions and benefits will be raised in the new Member States, thereby addressing their specific issues and barriers and incorporate them in the existing EU DER R and D community. The SOLID-DER Coordination Action will run from November 2005 to October 2008

  3. Essays on pricing electricity and electricity derivatives in deregulated markets

    Science.gov (United States)

    Popova, Julia

    2008-10-01

    This dissertation is composed of four essays on the behavior of wholesale electricity prices and their derivatives. The first essay provides an empirical model that takes into account the spatial features of a transmission network on the electricity market. The spatial structure of the transmission grid plays a key role in determining electricity prices, but it has not been incorporated into previous empirical models. The econometric model in this essay incorporates a simple representation of the transmission system into a spatial panel data model of electricity prices, and also accounts for the effect of dynamic transmission system constraints on electricity market integration. Empirical results using PJM data confirm the existence of spatial patterns in electricity prices and show that spatial correlation diminishes as transmission lines become more congested. The second essay develops and empirically tests a model of the influence of natural gas storage inventories on the electricity forward premium. I link a model of the effect of gas storage constraints on the higher moments of the distribution of electricity prices to a model of the effect of those moments on the forward premium. Empirical results using PJM data support the model's predictions that gas storage inventories sharply reduce the electricity forward premium when demand for electricity is high and space-heating demand for gas is low. The third essay examines the efficiency of PJM electricity markets. A market is efficient if prices reflect all relevant information, so that prices follow a random walk. The hypothesis of random walk is examined using empirical tests, including the Portmanteau, Augmented Dickey-Fuller, KPSS, and multiple variance ratio tests. The results are mixed though evidence of some level of market efficiency is found. The last essay investigates the possibility that previous researchers have drawn spurious conclusions based on classical unit root tests incorrectly applied to

  4. The liberalization of electricity markets

    International Nuclear Information System (INIS)

    Lepage, H.; Boucher, M.

    2001-01-01

    Since the end of the 1980s, the electric industry is changing. Privatization, vertical disintegrations, deregulation, restructuring, market openness are models which cause the world to question the regulated model inspired from natural monopolistic theories that are emerging in many parts of the industrialized world. Why are we witnessing these changes? What makes competitiveness possible in an industry where it was always assumed that market forces could not be relied upon? How do these markets function? On what basis and with what rules? What lessons can be learned from the experiments now taking place? This document updates this complex economic process, which proved irreversible, despite badly thought out deregulation in California and other locales. The authors explain the changes that have taken place in the electricity industry in the United States since the First World War and compares experiences with deregulation in Canada, Europe and Australia. The public monopoly being exercised by Hydro-Quebec in Quebec is examined in detail and avenues for changes in the context of liberalization of electricity markets in North America are discussed. refs., figs

  5. Multi-agent simulation of competitive electricity markets: Autonomous systems cooperation for European market modeling

    International Nuclear Information System (INIS)

    Santos, Gabriel; Pinto, Tiago; Morais, Hugo; Sousa, Tiago M.; Pereira, Ivo F.; Fernandes, Ricardo; Praça, Isabel; Vale, Zita

    2015-01-01

    Highlights: • Definition of an ontology allowing the communication between multi-agents systems. • Social welfare evaluation in different electricity markets. • Demonstration of the use of the proposed ontology between two multi-agents systems. • Strategic biding in electricity markets. • European electricity markets comparison. - Abstract: The electricity market restructuring, and its worldwide evolution into regional and even continental scales, along with the increasing necessity for an adequate integration of renewable energy sources, is resulting in a rising complexity in power systems operation. Several power system simulators have been developed in recent years with the purpose of helping operators, regulators, and involved players to understand and deal with this complex and constantly changing environment. The main contribution of this paper is given by the integration of several electricity market and power system models, respecting to the reality of different countries. This integration is done through the development of an upper ontology which integrates the essential concepts necessary to interpret all the available information. The continuous development of Multi-Agent System for Competitive Electricity Markets platform provides the means for the exemplification of the usefulness of this ontology. A case study using the proposed multi-agent platform is presented, considering a scenario based on real data that simulates the European Electricity Market environment, and comparing its performance using different market mechanisms. The main goal is to demonstrate the advantages that the integration of various market models and simulation platforms have for the study of the electricity markets’ evolution

  6. The market integration of electricity production from renewable resources. An economic and legal analysis; Die Marktintegration der Stromerzeugung aus erneuerbaren Energien. Eine oekonomische und juristische Analyse

    Energy Technology Data Exchange (ETDEWEB)

    Haucap, Justus [Duesseldorf Univ. (Germany). Duesseldorf Inst. for Competition Economics (DICE); Klein, Carolin [Regensburg Univ. (Germany). Lehrstuhl fuer Oeffentliches Recht, Immobilienrecht, Infrastrukturrecht und Informationsrecht; Noerr LLP (Germany); Kuehling, Juergen [Regensburg Univ. (Germany). Lehrstuhl fuer Oeffentliches Recht, Immobilienrecht, Infrastrukturrecht und Informationsrecht

    2013-07-01

    Working from the goals of the German energy turnaround as a point of departure the authors analyse the shortcomings of the subsidisation of renewable energies in its present form as well as potentials for the integration of renewable energies in the electricity market. They then use their findings to develop a proposal for a quota-based subsidisation model similar to one practiced in Sweden, substantiating their ideas with a fully formulated draft law. The book is based on an expertise with the same title which was prepared on behalf of the federal state of Saxony.

  7. The green electricity market model. Proposal for an optional, cost-neutral direct marketing model for supplying electricity customers

    International Nuclear Information System (INIS)

    Heinemann, Ronald

    2014-01-01

    One of the main goals of the Renewable Energy Law (EEG) is the market integration of renewable energy resources. For this purpose it has introduced compulsory direct marketing on the basis of a moving market premium. At the same time the green electricity privilege, a regulation which made it possible for customers to be supplied with electricity from EEG plants, has been abolished without substitution with effect from 1 August 2014. This means that, aside from other direct marketing channels, which will not be economically viable save for in a few exceptional cases, it will no longer be possible in future to sell electricity from EEG plants to electricity customers under the designation ''electricity from renewable energy''. The reason for this is that electricity sold under the market premium model can no longer justifiably be said to originate from renewable energy. As a consequence, almost all green electricity products sold in Germany carry a foreign green electricity certificate.

  8. The new electricity trading arrangements: prospects for market development

    International Nuclear Information System (INIS)

    Anon

    1999-09-01

    This Briefing Paper from OXERA argues that the OFGEM proposals will not solve the fundamental market problems and might even make things worse. They focus too narrowly on the technical design of one small part of the market (the Balancing Mechanism and associated imbalance settlement process), without considering the market context and dynamics. OXERA argues that the central emphasis of the White Paper was misplaced: reform of the electricity trading arrangements, the basis of the government's strategy, will not solve the upstream and downstream market problems. The Briefing Paper includes analysis of: the structure and operation of the proposed new electricity trading arrangements; risk in the electricity wholesale market, and the responses of market participants; the interaction between the new trading arrangements and other energy market developments - in particular, vertical integration between generators and suppliers; energy supply competition, and wider government policy; the prospects for market development under the new electricity trading arrangements. (author)

  9. Capacity competition in electricity markets

    International Nuclear Information System (INIS)

    Crampes, Claude; Creti, Anna

    2005-01-01

    The article analyzed a two-stage game where capacity constrained electricity generators first choose how much capacity they make available and then compete in a uniform-rice auction. It is studied how capacity withholding can be used strategically to enforce market power and how uniform auctions in the price game change the results of capacity constrained competition models. The uniform auction procedure gives strong incentives to capacity restriction. At equilibrium, however, power shortage never occurs. Though auctions in electricity markets have already been studied by several economists, yet an important feature of spot trading is the capacity availability decision. In fact, for technical reasons, such as equipment maintenance or failures, the installed capacity may not work at maximum operating level and the spot market rules oblige generators to announce which plants they are willing to use and simultaneously their offer prices. Beside technical reasons, the so-called 'capacity declarations' also offer a strategic instrument for firms: by restricting capacity, operators can benefit from scarcity rents. Assessing whether generators withhold capacity is an intriguing issue for real electricity markets, though proving it is a difficult task. Several theoretical papers show that generators are able to keep wholesale prices high as compared to their generation costs. In our model, a generator is not obliged to declare all installed capacity as available, but decides on the amount of MW of electricity that is available. Hence the available capacity is an endogenous variable while the installed one is exogenous. The distinction between installed capacities and 'available' capacities allows to explain clearly whether generators exert market power by declaring unavailable some production units. Although we find multiple sub game perfect equilibria that cannot be eliminated by Pareto-dominance, all the outcomes are characterized by market price at the highest

  10. Wholesale electricity market indicators - December 2013

    International Nuclear Information System (INIS)

    2013-12-01

    The wholesale electricity markets indicators publication aims to provide general monitoring indicators about: wholesale electricity prices, electricity trade between France and neighboring countries, fuel prices, availability and capacity of power generation means, and grid interconnections

  11. Wholesale electricity markets indicators - September 2013

    International Nuclear Information System (INIS)

    2013-09-01

    The wholesale electricity markets indicators publication aims to provide general monitoring indicators about: wholesale electricity prices, electricity trade between France and neighboring countries, fuel prices, availability and capacity of power generation means, and grid interconnections

  12. The restructuring of the Ontario electricity market

    International Nuclear Information System (INIS)

    Doucet, J.A.

    1999-01-01

    A summary of the current status of the deregulation of the electricity market in Ontario was presented. To follow global deregulation trends, the Ontario Government has embarked on a considerable restructuring of the Ontario electricity market. The monopoly position of Ontario Hydro has been removed by restructuring the provincial utility into two separate companies, GENCO and SERVCO, which will be responsible for the generation and transmission and distribution of electricity, respectively. Other mechanisms put in place to favour a free and competitive market for electricity in the province, such as the arrival on the market of other electricity producers, and the establishment of the independent market operator, are also discussed. 2 tabs

  13. Nordic market report 2009 : Development in the Nordic electricity market

    Energy Technology Data Exchange (ETDEWEB)

    2009-07-01

    integration has started. Prerequisites for well-functioning retail markets are active customers who engage in the market. The share of customers switching electricity supplier differs considerably between the Nordic countries; from approx 2 per cent in Denmark to 8 per cent in Sweden. NordREG has undertaken the assignment of developing a number of statistical indicators to describe and assess the functioning and status of both the wholesale and retail markets. The work on the indicators is complex and still ongoing. NordREG intends to launch a public consultation in the beginning of 2010. (Author)

  14. Nordic market report 2009. Development in the Nordic electricity market

    Energy Technology Data Exchange (ETDEWEB)

    2009-07-15

    integration has started. Prerequisites for well-functioning retail markets are active customers who engage in the market. The share of customers switching electricity supplier differs considerably between the Nordic countries; from app. 2 per cent in Denmark to 8 per cent in Sweden. NordREG has undertaken the assignment of developing a number of statistical indicators to describe and assess the functioning and status of both the wholesale and retail markets. The work on the indicators is complex and still ongoing. NordREG intends to launch a public consultation in the beginning of 2010.

  15. Reforming British Columbia's electricity market: A way forward. Final report

    International Nuclear Information System (INIS)

    1998-01-01

    This report begins with background on developments in electricity market structure and customer access, recent electricity market developments in British Columbia, factors driving change in that market, key elements of electricity market reform, and the work of the task force appointed to propose such reform. It then presents a consensus proposal for reform from the task force. The proposal has four major elements: Increasing customer access; transition toward a vertically de-integrated market structure; ensuring that social values associated with the existing electricity market are protected and enhanced; and environmental concerns (increasing energy efficiency and favoring the development of environmentally desirable electricity generation technologies). Finally, the proposals are evaluated against the task force terms of reference. Includes glossary

  16. Best Practice: Integrated Marketing Communications

    OpenAIRE

    Schultz, Don; Macdonald, Emma K.; Baines, Paul R.

    2012-01-01

    Integrated marketing communications can substantially improve target audience reception, message resonance, and positive behavioural response but, to reach its true potential, the process requires a strong focus on data integration/customer insight.

  17. Dynamics of electricity market correlations

    Science.gov (United States)

    Alvarez-Ramirez, J.; Escarela-Perez, R.; Espinosa-Perez, G.; Urrea, R.

    2009-06-01

    Electricity market participants rely on demand and price forecasts to decide their bidding strategies, allocate assets, negotiate bilateral contracts, hedge risks, and plan facility investments. However, forecasting is hampered by the non-linear and stochastic nature of price time series. Diverse modeling strategies, from neural networks to traditional transfer functions, have been explored. These approaches are based on the assumption that price series contain correlations that can be exploited for model-based prediction purposes. While many works have been devoted to the demand and price modeling, a limited number of reports on the nature and dynamics of electricity market correlations are available. This paper uses detrended fluctuation analysis to study correlations in the demand and price time series and takes the Australian market as a case study. The results show the existence of correlations in both demand and prices over three orders of magnitude in time ranging from hours to months. However, the Hurst exponent is not constant over time, and its time evolution was computed over a subsample moving window of 250 observations. The computations, also made for two Canadian markets, show that the correlations present important fluctuations over a seasonal one-year cycle. Interestingly, non-linearities (measured in terms of a multifractality index) and reduced price predictability are found for the June-July periods, while the converse behavior is displayed during the December-January period. In terms of forecasting models, our results suggest that non-linear recursive models should be considered for accurate day-ahead price estimation. On the other hand, linear models seem to suffice for demand forecasting purposes.

  18. The international electricity market infrastructure-insight from the nordic electricity market

    DEFF Research Database (Denmark)

    Ma, Zheng; Prljaca, Zerina; Jørgensen, Bo Nørregaard

    2016-01-01

    This paper aims to provide an overview of an international electricity market for the emerging market players to understand and manipulate their roles and relationships in the market by analyzing the former, present, and future Nordic electricity market. The emerging market players...... and their relationships are also discussed in the paper. This paper outlines several suggestions for the future Nordic electricity market development. Furthermore, this paper provides a recommendation for countries interested in participating and developing the cross-national electricity markets with the discussion...... of the historical development of the Nordic electricity market....

  19. Energy market integration in South America

    International Nuclear Information System (INIS)

    Hammons, T.J.; Franco, N. de; Sbertoli, L.V.; Khelil, C.; Rudnick, H.; Clerici, A.; Longhi, A.

    1997-01-01

    This article is a summary of presentations made during the 1997 Winter Meeting panel session on Power and Natural Gas in Latin America: Towards an Integrated Market. Reregulation and demand for energy resources to support economic growth are driving international natural gas and electricity exchange initiatives. Panelists focused on the gas and electric power industry in Latin America in terms of the: transport of gas or transmission of electricity; energy market integration in the southern cone of South America; and issues on gas use for electricity generation in South America countries. Countries such as Argentina, Bolivia, and Peru will export natural gas to Brazil, Uruguay, Paraguay and Chile, an the energy matrices of these countries will change

  20. How to benefit from a common European electricity market design

    International Nuclear Information System (INIS)

    Ringler, Philipp; Keles, Dogan; Fichtner, Wolf

    2017-01-01

    The realization of an Internal Electricity Market in Europe is currently, on the one hand, progressing, in particular thanks to the wide-spread implementation of market coupling solutions for cross-border congestion management. On the other hand, diverging national market designs pose a threat to the continuation of this process. Given the challenges to electricity market design in a multi-regional context, we analyze how different design aspects, namely cross-border congestion management and capacity mechanisms, affect welfare and generation adequacy in Europe. In doing so, we rely on an agent-based simulation model for electricity wholesale markets which we apply within several numerical, computational case studies for the region of Central Western Europe (2012–2030). Our results confirm the benefits of market coupling in terms of welfare as well as generation adequacy. Furthermore, we find indications that coordinating market designs across regions supports these targets. Therefore, we recommend that European energy policy forms a stable, transparent regulatory framework with cross-border market coupling as an integral component. In this context, energy policy targets should be clearly defined and operationalized, which also needs to consider potential conflicts between them. Finally, electricity market designs need to be coordinated among states to benefit most from a common European market. - Highlights: • European electricity markets at crossroads given diverging market designs • Simulation of CWE Market Coupling using an agent-based model. • Welfare and adequacy gains from European market coupling and new interconnections. • Conflicts between energy policy targets to be considered in market design. • Coordination key to further strengthen integration of electricity markets in Europe.

  1. Th european market of the electric power

    International Nuclear Information System (INIS)

    2001-01-01

    This document presents the CRE (commission of the Electric power Control) progress report concerning the first july 2000 to the 30 june 2001. Three main subjects are discussed, illustrated by economic data and graphs: the electric power european market, the french market control and the CRE. A special interest is given to the deregulation of the market and its consequences. (A.L.B.)

  2. A comparison of electric vehicle integration projects

    DEFF Research Database (Denmark)

    Andersen, Peter Bach; Garcia-Valle, Rodrigo; Kempton, Willett

    2012-01-01

    .g. utilization of electric vehicles for ancillary services. To arrive at standardized solutions, it is helpful to analyze the market integration and utilization concepts, architectures and technologies used in a set of state-of-the art electric vehicle demonstration projects. The goal of this paper......It is widely agreed that an intelligent integration of electric vehicles can yield benefits for electric vehicle owner, power grid, and the society as a whole. Numerous electric vehicle utilization concepts have been investigated ranging from the simple e.g. delayed charging to the more advanced e...... is to highlight different approaches to electric vehicle integration in three such projects and describe the underlying technical components which should be harmonized to support interoperability and a broad set of utilization concepts. The projects investigated are the American University of Delaware's V2G...

  3. Liquidity in the Dutch wholesale electricity market

    International Nuclear Information System (INIS)

    Newbery, D.; Von der Fehr, N.H.; Van Damme, E.

    2003-05-01

    Industry concerns over perceived reductions in the liquidity of the Dutch wholesale electricity market led the DTe to ask the Market Surveillance Committee (MSC) to examine recent developments. This report starts with a generic examination of wholesale power markets and liquidity and its measurement. An overview of the Dutch wholesale electricity market and its constituent segments follows together with a summary of events and opinions connected to liquidity that have been reported in the trade press. Sources of information on market liquidity are then reviewed. Participation in the market is analysed before examining each market segment and this analysis and the earlier sections are then drawn together in conclusions and recommendations

  4. Capacity Remuneration Mechanisms for Reliability in the Integrated European Electricity Market: Effects on Welfare and Distribution through 2023

    DEFF Research Database (Denmark)

    Traber, Thure

    2017-01-01

    emuneration mechanisms (CRMs) based on the assumption that a CRM is indicated. A strategic reserve (SR) policy with administratively set capacity targets, a capacity market (CM) based on public procurement, and a decentralized reserve market with the obligation of generators to finance reserves in relation...

  5. Electric vehicles in imperfect electricity markets: The case of Germany

    International Nuclear Information System (INIS)

    Schill, Wolf-Peter

    2011-01-01

    We use a game-theoretic model to analyze the impacts of a hypothetical fleet of plug-in electric vehicles on the imperfectly competitive German electricity market. Electric vehicles bring both additional demand and additional storage capacity to the market. We determine the effects on prices, welfare, and electricity generation for various cases with different players in charge of vehicle operations. Vehicle loading increases generator profits, but decreases consumer surplus in the power market. If excess vehicle batteries can be used for storage, welfare results are reversed: generating firms suffer from the price-smoothing effect of additional storage, whereas power consumers benefit despite increasing overall demand. Strategic players tend to under-utilize the storage capacity of the vehicle fleet, which may have negative welfare implications. In contrast, we find a market power-mitigating effect of electric vehicle recharging on oligopolistic generators. Overall, electric vehicles are unlikely to be a relevant source of market power in Germany in the foreseeable future. - Highlights: → We study the effect of electric vehicles on an imperfectly competitive electricity market. → We apply a game-theoretic model to the German market. → There is a market power-mitigating effect of vehicle loading on oligopolistic generating firms. → Consumers benefit from electric vehicles if excess battery capacity can be used for grid storage. → Electric vehicles are unlikely to be a source of market power in Germany in the near future.

  6. Electric power market regulations in UK

    International Nuclear Information System (INIS)

    Federico, G.; Napolano, L.

    2000-01-01

    The wholesale electricity market in UK is being radically reformed, with the abolition of a centralised market (the Pool) and the introduction of a system based around bilateral trading and real-time balancing (NETA), with the aim of increasing competition in the sector. This article analyses the English experience to draw some implications on the relationship between market design, market structure and market power, and to provide some insights for the design of the future Italian market [it

  7. Using forward markets to improve electricity market design

    International Nuclear Information System (INIS)

    Ausubel, Lawrence M.; Cramton, Peter

    2010-01-01

    Forward markets, both medium term and long term, complement the spot market for wholesale electricity. The forward markets reduce risk, mitigate market power, and coordinate new investment. In the medium term, a forward energy market lets suppliers and demanders lock in energy prices and quantities for one to three years. In the long term, a forward reliability market assures adequate resources are available when they are needed most. The forward markets reduce risk for both sides of the market, since they reduce the quantity of energy that trades at the more volatile spot price. Spot market power is mitigated by putting suppliers and demanders in a more balanced position at the time of the spot market. The markets also reduce transaction costs and improve liquidity and transparency. Recent innovations to the Colombia market illustrate the basic elements of the forward markets and their beneficial role. (author)

  8. Using forward markets to improve electricity market design

    Energy Technology Data Exchange (ETDEWEB)

    Ausubel, Lawrence M.; Cramton, Peter [University of Maryland, College Park, MD 20742 (United States)

    2010-12-15

    Forward markets, both medium term and long term, complement the spot market for wholesale electricity. The forward markets reduce risk, mitigate market power, and coordinate new investment. In the medium term, a forward energy market lets suppliers and demanders lock in energy prices and quantities for one to three years. In the long term, a forward reliability market assures adequate resources are available when they are needed most. The forward markets reduce risk for both sides of the market, since they reduce the quantity of energy that trades at the more volatile spot price. Spot market power is mitigated by putting suppliers and demanders in a more balanced position at the time of the spot market. The markets also reduce transaction costs and improve liquidity and transparency. Recent innovations to the Colombia market illustrate the basic elements of the forward markets and their beneficial role. (author)

  9. Market power analysis for the Iranian electricity market

    International Nuclear Information System (INIS)

    Asgari, Mohammad Hossein; Monsef, Hassan

    2010-01-01

    The market power problem in Iranian electricity market is addressed in this study. This paper by using various structural indices of market power and reviewing market results analyzes the intensity of competition in Iran's electricity market and examines whether this market is functioning at an appropriate level of efficiency. In this article the most well-known indices of market power are calculated in two approaches for two different scenarios (current situation and future outlook of generation sector's ownership in Iran's power industry). Comparing the results of these scenarios promises more competitive market for the second scenario. Calculating Residual Supply Index for Iran's power market shows despite admissible values of concentration ratios, due to supply scarcity during periods when the demand is close to the total available capacity, some suppliers can exercise market power even with a relatively small market share. The most important price and load indices like weighted average prices and load/price duration curves of Iranian electricity market during March 2007-March 2008 are also analyzed in this paper. These results imply the existence of economic withholding. The main limiting factors of competition and significant implemented countermeasures for market power mitigation in Iran's electricity market are also mentioned.

  10. Electricity market design and risk management

    International Nuclear Information System (INIS)

    Boschi, Federico; Cervigni, Guido

    2005-01-01

    We show that each wholesale electricity market design trades-off between efficiency and liquidity. Efficiency requires that the product traded in the wholesale market closely reflect the physical features of electricity. Liquidity requires standardization of the products that ore traded on the wholesale market. We stress that Iiquidity comes at a cost since an excessive degree of standardization may lead to significant inefficiencies and forge wealth transfers among market participants [it

  11. Electricity market design for the future

    OpenAIRE

    robinson, david; Keay, Malcolm

    2017-01-01

    This paper explains why current electricity markets are not fit for purpose and propose a new market design. Electricity markets operating today were designed for the technical and economic conditions of the 1990's. These conditions have changed substantially, especially with increased penetration of intermittent renewables and the growing potential for distributed energy resources and consumer involvement. Today's markets are incompatible with these trends. They do not provide h...

  12. Market power in electricity markets: Beyond concentration measures

    International Nuclear Information System (INIS)

    Borenstein, S.; Bushnell, J.; Knittel, C.R.

    1999-01-01

    The wave of electricity market restructuring both within the US and abroad has brought the issue of horizontal market power to the forefront of energy policy. Traditionally, estimation and prediction of market power has relied heavily on concentration measures. In this paper, the authors discuss the weaknesses of concentration measures as a viable measure of market power in the electricity industry, and they propose an alternative method based on market simulations that take advantage of existing plant level data. The authors discuss results from previous studies they have performed, and present new results that allow for the detection of threshold demand levels where market power is likely to be a problem. In addition, the authors analyze the impact of that recent divestitures in the California electricity market will have on estimated market power. They close with a discussion of the policy implications of the results

  13. Power exchange game in the electricity market

    International Nuclear Information System (INIS)

    Pyykko, S.; Partanen, J.; Viljainen, S.; Lassila, J.; Honkapuro, S.; Tahvanainen, K.

    2006-01-01

    Since it is not economically reasonable to build parallel electricity networks, in Finland, Sweden, Norway and Denmark, electricity distribution is protected by monopoly. However, electricity production and selling have been opened up to competition by connecting the transmission networks of these countries together, and it is possible to produce electricity where it is cheapest. A common electricity power market, called Nord Pool, has been created where electricity can be bought, sold or used as an exchange product. In order to help students understand the operation of electricity markets and the use of different electricity exchange products, the Department of Electrical Engineering at Lappeenranta University developed a scheme in which the theory can be used in practice. In the scheme, students are given the responsibility to manage the electricity markets of power companies in order analyze, plan and make decisions, which are skills required on the open power markets. The paper provided an introduction to the electricity markets in Nordic countries and discussed Nord Pool and its products. Information about education at the Department of Electrical Engineering at Lappeenranta University of Technology was also presented. The paper also provided details of the power exchange scheme on the electricity markets. 6 refs., 17 figs

  14. Retail competition in electricity markets

    International Nuclear Information System (INIS)

    Defeuilley, Christophe

    2009-01-01

    The introduction of competition into retail electricity supply gave rise to great expectations. However, to date, its performance has proven less than stellar, owing primarily to the theoretical concepts underpinning this reform, which draw heavily on the Austrian school. Neither consumers' decision processes nor this sector's technical paradigm were adequately accounted for, leading to an uncorrect estimation of the expected impact of opening to competition. Short- and medium-term prospects for the evolution of retail markets must be reconsidered from the perspective of greater stability: not a generalization of competition, but rather a persistent segmentation between active and inactive clients; not a large and rapid diffusion of radical innovations in commercialisation, with the potential for undermining the incumbents' positions

  15. Retail competition in electricity markets

    Energy Technology Data Exchange (ETDEWEB)

    Defeuilley, Christophe [LARSEN and EDF R and D, Fontenay aux Roses (France)

    2009-02-15

    The introduction of competition into retail electricity supply gave rise to great expectations. However, to date, its performance has proven less than stellar, owing primarily to the theoretical concepts underpinning this reform, which draw heavily on the Austrian school. Neither consumers' decision processes nor this sector's technical paradigm were adequately accounted for, leading to an uncorrect estimation of the expected impact of opening to competition. Short- and medium-term prospects for the evolution of retail markets must be reconsidered from the perspective of greater stability: not a generalization of competition, but rather a persistent segmentation between active and inactive clients; not a large and rapid diffusion of radical innovations in commercialisation, with the potential for undermining the incumbents' positions. (author)

  16. Market structure and the stability and volatility of electricity prices

    International Nuclear Information System (INIS)

    Bask, Mikael; Widerberg, Anna

    2009-01-01

    By using a novel approach in this paper, (λ,σ 2 )-analysis, we have found that electricity prices most of the time have increased in stability and decreased in volatility when the Nordic power market has expanded and the degree of competition has increased. That electricity prices at Nord Pool have been generated by a stochastic dynamic system that most often has become more stable during the step-wise integration of the Nordic power market means that this market is less sensitive to shocks after the integration process than it was before this process. This is good news

  17. Electricity prices and generator behaviour in gross pool electricity markets

    International Nuclear Information System (INIS)

    O'Mahoney, Amy; Denny, Eleanor

    2013-01-01

    Electricity market liberalisation has become common practice internationally. The justification for this process has been to enhance competition in a market traditionally characterised by statutory monopolies in an attempt to reduce costs to end-users. This paper endeavours to see whether a pool market achieves this goal of increasing competition and reducing electricity prices. Here the electricity market is set up as a sealed bid second price auction. Theory predicts that such markets should result with firms bidding their marginal cost, thereby resulting in an efficient outcome and lower costs to consumers. The Irish electricity system with a gross pool market experiences among the highest electricity prices in Europe. Thus, we analyse the Irish pool system econometrically in order to test if the high electricity prices seen there are due to participants bidding outside of market rules or out of line with theory. Overall we do not find any evidence that the interaction between generator and the pool in the Irish electricity market is not efficient. Thus, the pool element of the market structure does not explain the high electricity prices experienced in Ireland. - Highlights: • We consider whether a gross pool achieves competitive behaviour. • We analyse the Irish pool system econometrically. • Results indicate the Irish pool system appears to work efficiently. • Generators appear to be bidding appropriately

  18. Generation cost frontier analysis, dynamic market adjustment, and strategic gaming: Integrated tools for benchmarking, competitive market analysis, and strategy formulation under conditions of uncertainty in the transition to a competitive electricity market

    Energy Technology Data Exchange (ETDEWEB)

    Corio, M.R.; Bellucci, J.W.; Boyd, G.A.; Perl, K.E.

    1998-07-01

    The authors describe a three dimensional frontier consisting of: spending, availability/reliability, and utilization/heat rate. To determine optimal behavior in a future deregulated market, one must also find the optimal adjustment path from present to long-run frontier operation, and the optimal strategic action/response as determined by game theory. One can also perform more limited optimizations along either the two dimensional spending/reliability or spending/utilization frontiers. Although the authors mainly discuss optimizing existing domestic plants, frontier analysis could easily be applied to an electric producer's plants or acquisition targets internationally. Efficient operation saves money even in countries where electric markets are still regulated and can also confer indirect environmental benefits. AER is also applying these frontier analysis and game theory techniques to environmental decision-making, specifically to environmental retrofit decisions.

  19. Generation cost frontier analysis, dynamic market adjustment, and strategic gaming: Integrated tools for benchmarking, competitive market analysis, and strategy formulation under conditions of uncertainty in the transition to a competitive electricity market

    International Nuclear Information System (INIS)

    Corio, M.R.; Bellucci, J.W.; Boyd, G.A.; Perl, K.E.

    1998-01-01

    The authors describe a three dimensional frontier consisting of: spending, availability/reliability, and utilization/heat rate. To determine optimal behavior in a future deregulated market, one must also find the optimal adjustment path from present to long-run frontier operation, and the optimal strategic action/response as determined by game theory. One can also perform more limited optimizations along either the two dimensional spending/reliability or spending/utilization frontiers. Although the authors mainly discuss optimizing existing domestic plants, frontier analysis could easily be applied to an electric producer's plants or acquisition targets internationally. Efficient operation saves money even in countries where electric markets are still regulated and can also confer indirect environmental benefits. AER is also applying these frontier analysis and game theory techniques to environmental decision-making, specifically to environmental retrofit decisions

  20. Financial methods in competitive electricity markets

    Science.gov (United States)

    Deng, Shijie

    The restructuring of electric power industry has become a global trend. As reforms to the electricity supply industry spread rapidly across countries and states, many political and economical issues arise as a result of people debating over which approach to adopt in restructuring the vertically integrated electricity industry. This dissertation addresses issues of transmission pricing, electricity spot price modeling, as well as risk management and asset valuation in a competitive electricity industry. A major concern in the restructuring of the electricity industries is the design of a transmission pricing scheme that will ensure open-access to the transmission networks. I propose a priority-pricing scheme for zonal access to the electric power grid that is uniform across all buses in each zone. The Independent System Operator (ISO) charges bulk power traders a per unit ex ante transmission access fee based on the expected option value of the generated power with respect to the random zonal spot prices. The zonal access fee depends on the injection zone and a self-selected strike price determining the scheduling priority of the transaction. Inter zonal transactions are charged (or credited) with an additional ex post congestion fee that equals the zonal spot price difference. The unit access fee entitles a bulk power trader to either physical injection of one unit of energy or a compensation payment that equals to the difference between the realized zonal spot price and the selected strike price. The ISO manages congestion so as to minimize net compensation payments and thus, curtailment probabilities corresponding to a particular strike price may vary by bus. The rest of the dissertation deals with the issues of modeling electricity spot prices, pricing electricity financial instruments and the corresponding risk management applications. Modeling the spot prices of electricity is important for the market participants who need to understand the risk factors in

  1. Equilibrium pricing in electricity markets with wind power

    Science.gov (United States)

    Rubin, Ofir David

    Estimates from the World Wind Energy Association assert that world total wind power installed capacity climbed from 18 Gigawatt (GW) to 152 GW from 2000 to 2009. Moreover, according to their predictions, by the end of 2010 global wind power capacity will reach 190 GW. Since electricity is a unique commodity, this remarkable expansion brings forward several key economic questions regarding the integration of significant amount of wind power capacity into deregulated electricity markets. The overall dissertation objective is to develop a comprehensive theoretical framework that enables the modeling of the performance and outcome of wind-integrated electricity markets. This is relevant because the state of knowledge of modeling electricity markets is insufficient for the purpose of wind power considerations. First, there is a need to decide about a consistent representation of deregulated electricity markets. Surprisingly, the related body of literature does not agree on the very economic basics of modeling electricity markets. That is important since we need to capture the fundamentals of electricity markets before we introduce wind power to our study. For example, the structure of the electric industry is a key. If market power is present, the integration of wind power has large consequences on welfare distribution. Since wind power uncertainty changes the dynamics of information it also impacts the ability to manipulate market prices. This is because the quantity supplied by wind energy is not a decision variable. Second, the intermittent spatial nature of wind over a geographical region is important because the market value of wind power capacity is derived from its statistical properties. Once integrated into the market, the distribution of wind will impact the price of electricity produced from conventional sources of energy. Third, although wind power forecasting has improved in recent years, at the time of trading short-term electricity forwards, forecasting

  2. Competitive Electricity Market Regulation in the United States: A Primer

    Energy Technology Data Exchange (ETDEWEB)

    Flores-Espino, Francisco [National Renewable Energy Lab. (NREL), Golden, CO (United States); Tian, Tian [National Renewable Energy Lab. (NREL), Golden, CO (United States); Chernyakhovskiy, Ilya [National Renewable Energy Lab. (NREL), Golden, CO (United States); Chernyakhovskiy, Ilya [National Renewable Energy Lab. (NREL), Golden, CO (United States); Miller, Mackay [National Grid, Warwick (United Kingdom)

    2016-12-01

    The electricity system in the United States is a complex mechanism where different technologies, jurisdictions and regulatory designs interact. Today, two major models for electricity commercialization operate in the United States. One is the regulated monopoly model, in which vertically integrated electricity providers are regulated by state commissions. The other is the competitive model, in which power producers can openly access transmission infrastructure and participate in wholesale electricity markets. This paper describes the origins, evolution, and current status of the regulations that enable competitive markets in the United States.

  3. Restructuring in the Electricity Markets and Structural Transformation in Turkish Electricity Market

    Directory of Open Access Journals (Sweden)

    Hakan ÇETİNTAŞ

    2015-07-01

    Full Text Available Electricity markets are changed over from monopolistic to competitive structure. In many countries liberalization process in electricity markets began after 1980. In this study models for restructuring the electricity markets are explained with the natural monopoly and its regulation which is discussed in economic theory over many years. Then structural transformation in Turkish Electricity Market is explained within the legal arrangament framework and in liberalization process of electricity markets current state of Turkey is evaluated. In Turkey, the reform process in electricity market began with the liberalization of production and ıt is contiuned to change the design of the wholesale market. There has been significant progress for energy exchange by the establishment of EPİAŞ with the Electricity Market Law Numbered 6446 in 2013.

  4. Risk management in a competitive electricity market

    International Nuclear Information System (INIS)

    Liu, Min; Wu, Felix F.

    2007-01-01

    In a competitive electricity market, it is necessary and important to develop an appropriate risk management scheme for trade with full utilization of the multi-market environment in order to maximize participants' benefits and minimize the corresponding risks. Based on the analyses to trading environments and risks in the electricity market, a layered framework of risk management for electric energy trading is proposed in this paper. Simulation results confirmed that trading among multiple markets is helpful to reduce the complete risk, and VaR provides a useful approach to judge whether the formed risk-control scheme is acceptable. (author)

  5. Optimal electricity market for wind power

    International Nuclear Information System (INIS)

    Holttinen, H.

    2005-01-01

    This paper is about electricity market operation when looking from the wind power producers' point of view. The focus in on market time horizons: how many hours there is between the closing and delivering the bids. The case is for the Nordic countries, the Nordpool electricity market and the Danish wind power production. Real data from year 2001 was used to study the benefits of a more flexible market to wind power producer. As a result of reduced regulating market costs from better hourly predictions to the market, wind power producer would gain up to 8% more if the time between market bids and delivery was shortened from the day ahead Elspot market (hourly bids by noon for 12-36 h ahead). An after sales market where surplus or deficit production could be traded 2 h before delivery could benefit the producer almost as much, gaining 7%

  6. Optimal charging of electric drive vehicles in a market environment

    DEFF Research Database (Denmark)

    Kristoffersen, Trine Krogh; Capion, Karsten Emil; Meibom, Peter

    2011-01-01

    With a potential to facilitate the integration of renewable energy into the electricity system, electric drive vehicles may offer a considerable flexibility by allowing for charging and discharging when desired. This paper takes the perspective of an aggregator that manages the electricity market...... participation of a vehicle fleet and presents a framework for optimizing charging and discharging of the electric drive vehicles, given the driving patterns of the fleet and the variations in market prices of electricity. When the aggregator is a price-taker the optimization can be stated in terms of linear...... programming whereas a quadratic programming formulation is required when he/she has market power. A Danish case study illustrates the construction of representative driving patterns through clustering of survey data from Western Denmark and the prediction of electricity price variations through regression...

  7. Hong Kong's electricity market beyond 2008

    International Nuclear Information System (INIS)

    Lam, Pun Lee

    2004-01-01

    In Hong Kong, electricity is supplied by two private utilities: Hongkong Electric and CLP Power (CLP). Both are regulated under the Scheme of Control (SOC). The SOC is a formal, long-term regulatory contract of 15 years, signed between a private firm and the Hong Kong Government. Under the SOC, the two electric utilities are subject to both rate-of-return control and price control. The current scheme will expire by 2008. In this paper, we propose a gradual and cautious approach to the introduction of market reform into the electricity industry in Hong Kong. For regulated markets, the government should consider replacing the SOC with performance-based regulation for wire businesses and the non-contestable market. For competitive markets, the government should consider introducing competitive tendering for new sources in the generation market and liberalising the supply market in phases. (author)

  8. Hong Kong's electricity market beyond 2008

    International Nuclear Information System (INIS)

    Lam, P.-L.

    2004-01-01

    In Hong Kong, electricity is supplied by two private utilities: Hongkong Electric and CLP Power (CLP). Both are regulated under the Scheme of Control (SOC). The SOC is a formal, long-term regulatory contract of 15 years, signed between a private firm and the Hong Kong Government. Under the SOC, the two electric utilities are subject to both rate-of-return control and price control. The current scheme will expire by 2008. In this paper, we propose a gradual and cautious approach to the introduction of market reform into the electricity industry in Hong Kong. For regulated markets, the government should consider replacing the SOC with performance-based regulation for wire businesses and the non-contestable market. For competitive markets, the government should consider introducing competitive tendering for new sources in the generation market and liberalising the supply market in phases

  9. Technology mix configuration in liberalized electricity market

    International Nuclear Information System (INIS)

    Castro-Rodriguez, F.

    2007-01-01

    This paper analyzes the evolution of technology mix in the electricity industry when investment choices are left to private investors. In particular, possible failures and investment biases in recent liberalized electricity markets are presented. In addition, the main regulatory mechanisms used in practice and their effects are analyzed. Finally, this paper explores the government intervention in technology choices in the Spanish electricity market from the beginning of the liberalization process. While some regulatory rules have adequacy complemented the market functioning, others have distorted the electricity price, which is the reference to signal right investments. (Author) 13 refs

  10. Decoding restricted participation in sequential electricity markets

    Energy Technology Data Exchange (ETDEWEB)

    Knaut, Andreas; Paschmann, Martin

    2017-06-15

    Restricted participation in sequential markets may cause high price volatility and welfare losses. In this paper we therefore analyze the drivers of restricted participation in the German intraday auction which is a short-term electricity market with quarter-hourly products. Applying a fundamental electricity market model with 15-minute temporal resolution, we identify the lack of sub-hourly market coupling being the most relevant driver of restricted participation. We derive a proxy for price volatility and find that full market coupling may trigger quarter-hourly price volatility to decrease by a factor close to four.

  11. Does wind energy mitigate market power in deregulated electricity markets?

    International Nuclear Information System (INIS)

    Ben-Moshe, Ori; Rubin, Ofir D.

    2015-01-01

    A rich body of literature suggests that there is an inverse relationship between wind power penetration rate into the electricity market and electricity prices, but it is unclear whether these observations can be generalized. Therefore, in this paper we seek to analytically characterize market conditions that give rise to this inverse relationship. For this purpose, we expand a recently developed theoretical framework to facilitate flexibility in modeling the structure of the electric industry with respect to the degree of market concentration and diversification in the ownership of wind power capacity. The analytical results and their attendant numerical illustrations indicate that the introduction of wind energy into the market does not always depress electricity prices. Such a drop in electricity prices is likely to occur when the number of firms is large enough or the ownership of wind energy is sufficiently diversified, or most often a combination of the two. Importantly, our study defines the circumstances in which the question of which type of firm invests in wind power capacity is crucial for market prices. - Highlights: • Studies show that electricity prices decrease with increased wind power capacity. • We investigate market conditions that give rise to this inverse relationship. • Average prices for wind energy are systematically lower than average market prices. • Conventional generation firms may increase market power by investing in wind farms. • Energy policy should seek to diversify the ownership of wind power capacity

  12. Essays on financial market integration

    NARCIS (Netherlands)

    Pungulescu, C.

    2009-01-01

    The four essays in this dissertation address these main questions and alternate a general perspective with focused analysis on specific measures of integration and regions, providing several novel answers. First, new relevant proxies are proposed to measure financial market integration. They give

  13. The electricity market and European integration from the point of view of the Federal Republic of Germany

    International Nuclear Information System (INIS)

    Bierhoff, R.

    1989-01-01

    The author discusses whether the cross-border exchange of current represents a criterion for developing a uniform internal European market for current and whether the present structure of power supply is really such an obstacle to cross-border exchanges. He examines the situation in various EC countries in an effort to predict the problems that will arise in moving towards uniformity. He concludes that if the uniformity required by the 1987 bill is to become reality, there must be a greater political will on the part of governments to set objectives for the industry more in keeping with present circumstances. (T.J.R.A.)

  14. MASCEM: EPEX SPOT Day-Ahead market integration and simulation

    DEFF Research Database (Denmark)

    Santos, Gabriel; Fernandes, Ricardo; Pinto, Tiago

    2015-01-01

    . It is crucial to MASCEM to have the ability to simulate as many market models and player types as possible, thus enhancing the ability to recreate the electricity markets reality in its maximum possible extent. This paper presents the EPEX Spot Day-Ahead market integration in MASCEM. EPEX Spot SE's mission...

  15. Integration project of regional markets in Europe (European directive)

    International Nuclear Information System (INIS)

    Gonzalez Fernandez-Castaneda, J. J.

    2010-01-01

    The article presents the current situation of the Day-Ahead electricity markets in the different countries and Regions along West Europe. It describes the different possibilities applied to congestion management in the borders between countries and price areas, and the options employed to couple Day-ahead markets to form regional markets in Europe. Finally, it presents the initiative to Price couple Regional markets (PCR) that is being developed by Nord pool spot, EPEX Spot and OMEL with the objective to advance towards the integration of the markets that they operate in the internal Electricity Market. (Author)

  16. INTEGRATED MARKETING COMMUNICATION IN POLITICS?

    Directory of Open Access Journals (Sweden)

    Ovidiu-Aurel GHIUŢĂ

    2009-06-01

    Full Text Available The current study has practical applicability in politic al domain and theoretical involvement at politicalmarketing communication level. The type of the research is a qualitative one, using as survey methods scientificobservation and documentary search. The aim of the research is to prove the applicability of marketing communicationconcept integrated in political marketing and global marketing communication. There are also exceptions, justanalyzing the industry – politics, in which integrated communication can’t be considered global communication.The subject of integrated marketing communication is relatively a new one in marketing (two decades, but itsapplicability in political domain and the specifications that assumes this application represents o new vision atEuropean and worldwide level. This study clearly presents the differences between the integrated marketingcommunication and global marketing communication.In documentary research, the author used studies belonging to Anglo – Saxons theoreticians and practitioners(Americans, Canadians, British but also Europeans (French, Belgians, Romanians. The main reason is the fact that inmarketing domain on extremely narrow scientific sections the visions belonging to these two main orientations aren’talways equable. Also, in scientific observation, t he research analyses political events from United States of America,France and Romania. Due to this reason, we can affirm that the current study has not only a regional applicability butalso a global one.

  17. Market Integration of Fish in Europe

    NARCIS (Netherlands)

    Nielsen, M.; Smit, J.G.P.; Guillen, J.

    2009-01-01

    This paper examines market integration between fish species in Europe, taking international market integration into account. Based on Juselius (2006), market integration is found both on the fresh and frozen markets. The Law of One Price is in force on the fresh market within the segments of

  18. Evolution of electricity markets: Does sequencing matter?

    International Nuclear Information System (INIS)

    Neuhoff, K.; Newbery, D.

    2005-01-01

    This paper addresses three questions that are relevant to integrating different regional transmission areas. Market integration normally increases the number of competitors and should therefore reduce prices but the first section shows that prices could rise when the number of generators initially increases. Regulatory effort will also be affected by market integration. If the number of generators in either market is low, then our analysis suggests that the outcome depends on whether the regulators act independently or coordinate. Finally, if markets are gradually combined into larger units, the choice of transmission allocation (coordinated auctions or market coupling) will affect the prospects of making further gains and hence could lead to incomplete reform. (author)

  19. Analysis of electricity price in Danish competitive electricity market

    DEFF Research Database (Denmark)

    Hu, Weihao; Chen, Zhe; Bak-Jensen, Birgitte

    2012-01-01

    electricity markets in some ways, is chosen as the studied power system. 10 year actual data from the Danish competitive electricity market are collected and analyzed. The relationship among the electricity price (both the spot price and the regulation price), the consumption and the wind power generation...... in an electricity market is investigated in this paper. The spot price and the regulation price generally decrease when the wind power penetration in the power system increases or the consumption of the power system decreases. The statistical characteristics of the spot price and the regulation price for different...... consumption periods and wind power penetration are analyzed. Simulation results show that the findings of this paper are useful for wind power generation companies to make the optimal bidding strategy so that the imbalance cost of trading wind power on the electricity market could be reduced....

  20. Market and regulatory incentives for cost efficient integration of DG in the electricity system. IMPROGRES project final report

    Energy Technology Data Exchange (ETDEWEB)

    Nieuwenhout, F.D.J.; Jansen, J.C.; Van der Welle, A.J. [ECN Policy Studies, Petten (Netherlands); Olmos, L.; Cossent, R.; Gomez, T. [Universidad Pontificia Comillas, Madrid (Spain); Poot, J.; Bongaerts, M. [Liander, Duiven (Netherlands); Trebolle, D. [Union Fenosa Distribucion, Madrid (Spain); Doersam, B. [MVV Energie, Mannheim (Germany); Bofinger, S.; Gerhardt, N. [Fraunhofer Institute for Wind Energy and Energy System Technology, IWES, Bremerhaven (Germany); Jacobsen, H.; Ropenus, S.; Schroeder, S. [Risoe National Laboratory for Sustainable Energy, Technical University of Denmark DTU, Roskilde (Denmark); Auer, H.; Weissensteiner, L.; Prueggler, W.; Obersteiner, C.; Zach, K. [Energy Economics Group EEG, Vienna University of Technology, Vienna (Austria)

    2010-05-15

    Achieving the European target of 20% reduction of greenhouse gases in 2020 relies for a major part on increasing the share of renewable electricity generation, and more efficient fossil fuel based generation in combined heat and power installations. Most of these renewable and CHP generators are smaller in size than conventional power plants and are therefore usually connected to distribution grids instead of transmission grids. Different support schemes for renewable energy sources (RES) have been successfully implemented and have resulted in a rapid growth of distributed generation (DG). IMPROGRES scenario analysis shows that the installed capacity of DG in the EU-25 is expected to increase from 201 GW in 2008 to about 317 GW in 2020. A large part of this increase will be made up of more variable and less controllable renewable energy sources like wind and photovoltaics.

  1. Market and regulatory incentives for cost efficient integration of DG in the electricity system. IMPROGRES project final report

    International Nuclear Information System (INIS)

    Nieuwenhout, F.D.J.; Jansen, J.C.; Van der Welle, A.J.; Olmos, L.; Cossent, R.; Gomez, T.; Poot, J.; Bongaerts, M.; Trebolle, D.; Doersam, B.; Bofinger, S.; Gerhardt, N.; Jacobsen, H.; Ropenus, S.; Schroeder, S.; Auer, H.; Weissensteiner, L.; Prueggler, W.; Obersteiner, C.; Zach, K.

    2010-05-01

    Achieving the European target of 20% reduction of greenhouse gases in 2020 relies for a major part on increasing the share of renewable electricity generation, and more efficient fossil fuel based generation in combined heat and power installations. Most of these renewable and CHP generators are smaller in size than conventional power plants and are therefore usually connected to distribution grids instead of transmission grids. Different support schemes for renewable energy sources (RES) have been successfully implemented and have resulted in a rapid growth of distributed generation (DG). IMPROGRES scenario analysis shows that the installed capacity of DG in the EU-25 is expected to increase from 201 GW in 2008 to about 317 GW in 2020. A large part of this increase will be made up of more variable and less controllable renewable energy sources like wind and photovoltaics.

  2. The European green electricity markets in 2010

    International Nuclear Information System (INIS)

    Meibom, Peter; Skytte, Klaus

    2003-01-01

    The market shares of different electricity producing renewable energy technologies in the green electricity markets in EU, and the size and prices obtained on these markets depends strongly on the market designs and support policies governing the development of these markets. These issues have been analysed with the use of the ADMIRE REBUS model. Costs data for all significant electricity producing renewable energy technologies and data on the sizes of the renewable energy resources in the EU are combined with different national development of the support policies for green electricity in the different EU countries towards a common EU market in 2010. The model simulates the operation of each green electricity market in EU and the interaction between the markets. Model results show that in a harmonized EU wide tradable green certificate system starting from 2010, i.e. in a system without technology-specific support, wind power will be the most competitive technology, but power plants using different types of biomass will also gain a large share of the market. To reach the indicative EU targets for RES-E production in 2010 a TGC price of 5.6 eurocents is necessary in addition to a physical power price of 2.2 eurocents. (au)

  3. A novel approach to electricity market education

    International Nuclear Information System (INIS)

    Karjalainen, R.; Viljainen, S.; Partanen, J.

    2007-01-01

    The special characteristics of the competitive Nordic electricity markets were discussed with particular references to the challenges of operating an open power market. Electricity prices in Norway are highly volatile and difficult to estimate because the demand for electricity depends highly on temperature, while the supply of electricity is influenced by water reservoir levels and the price of carbon dioxide allowances. An innovative approach to power engineering education was proposed in an effort to provide power engineering students at Lappeenranta University of Technology (LUT) with skills that are needed for open electricity markets. In addition to the basic power engineering skills, these include an understand of risk management, financing, sales and marketing. The approach was based on developing theoretical and practical teaching methods that are applied in power engineering education at LUT. The practical learning methods played a key role in the development of a Power Exchange Game which was based on the operation of the Nordic power exchange Nord Pool. During the game, student teams used their knowledge and acted as portfolio managers of electric utilities where they analyzed and made decisions regarding the operation in the Nordic electricity market. Upon completion of the game, students were expected analyze their own performance in a final report. Most of the students considered the course an effective and interesting way to study the operation of electricity markets. 9 refs., 1 tab., 9 figs

  4. Restructured electric power systems analysis of electricity markets with equilibrium models

    CERN Document Server

    2010-01-01

    Electricity market deregulation is driving the power energy production from a monopolistic structure into a competitive market environment. The development of electricity markets has necessitated the need to analyze market behavior and power. Restructured Electric Power Systems reviews the latest developments in electricity market equilibrium models and discusses the application of such models in the practical analysis and assessment of electricity markets.

  5. Settlements and the future Ontario wholesale electricity market

    International Nuclear Information System (INIS)

    Kozlik, K.

    1998-01-01

    Settlement system processes which are likely to be in place in Ontario's new deregulated electricity market are discussed. Electricity settlements, i. e. the collection of metered and operational data, the processing of that data to ensure its integrity, the analysis of the data, the determination of payment, and the administration of the required transfer of funds, are analyzed. Some of the actions that those processes will require of prospective wholesale market participants are outlined. The paper also explains why it is that the settlement processes drove certain pivotal market design decisions

  6. An options model for electric power markets

    International Nuclear Information System (INIS)

    Ghosh, Kanchan; Ramesh, V.C.

    1997-01-01

    The international electric utility industry is undergoing a radical transformation from an essentially regulated and monopolistic industry to an industry made uncertain with impending deregulation and the advent of competitive forces. This paper investigates the development of an options market for bulk power trading in a market setup while considering power system planning and operational constraints and/or requirements. In so doing it considers the different market based financial derivative instruments while can be used to trade electrical power in bulk and examines how established tools such as Optimal Power Flow (OPF) may be applied in helping to develop a price for bulk power transactions under a market based setup. (Author)

  7. Asynchronous decentralized method for interconnected electricity markets

    International Nuclear Information System (INIS)

    Huang, Anni; Joo, Sung-Kwan; Song, Kyung-Bin; Kim, Jin-Ho; Lee, Kisung

    2008-01-01

    This paper presents an asynchronous decentralized method to solve the optimization problem of interconnected electricity markets. The proposed method decomposes the optimization problem of combined electricity markets into individual optimization problems. The impact of neighboring markets' information is included in the objective function of the individual market optimization problem by the standard Lagrangian relaxation method. Most decentralized optimization methods use synchronous models of communication to exchange updated market information among markets during the iterative process. In this paper, however, the solutions of the individual optimization problems are coordinated through an asynchronous communication model until they converge to the global optimal solution of combined markets. Numerical examples are presented to demonstrate the advantages of the proposed asynchronous method over the existing synchronous methods. (author)

  8. Use of demand response in electricity markets

    DEFF Research Database (Denmark)

    Singh, Sri Niwas; Østergaard, Jacob

    2010-01-01

    Demand response (DR) can provide sufficient measure, if implemented successfully, to provide economic, secure and stable supply to the customers even under the variability of the generated output from renewable energy source such as wind and solar. However, there are several issues to be analyzed...... before DR implementation. This paper critically examines the present practices of the DR in the various electricity markets existing in the world including Europe. The prospect of DR in various market levels such as day-ahead (spot) market, hour-ahead market, real time/regulating market and ancillary...... market is analyzed. This paper also addresses the key issues and challenges in the implementation of DR in the electricity markets....

  9. Multi-agent simulation of competitive electricity markets: Autonomous systems cooperation for European market modeling

    DEFF Research Database (Denmark)

    Santos, Gabriel; Pinto, Tiago; Morais, Hugo

    2015-01-01

    The electricity market restructuring, and its worldwide evolution into regional and even continental scales, along with the increasing necessity for an adequate integration of renewable energy sources, is resulting in a rising complexity in power systems operation. Several power system simulators...... have been developed in recent years with the purpose of helping operators, regulators, and involved players to understand and deal with this complex and constantly changing environment. The main contribution of this paper is given by the integration of several electricity market and power system models......, respecting to the reality of different countries. This integration is done through the development of an upper ontology which integrates the essential concepts necessary to interpret all the available information. The continuous development of Multi-Agent System for Competitive Electricity Markets platform...

  10. Electricity market readiness plan : Ontario Energy Board

    International Nuclear Information System (INIS)

    2001-03-01

    This document informs electric power market participants of the Ontario Energy Board's newly developed market readiness plan and target timelines that local distribution companies (LDCs) must meet for retail marketing. The Ontario Energy Board's plan incorporates relevant independent market operator (IMO)-administered market milestones with retail market readiness targeted for September 2001. The market readiness framework involves a self-certification process for LDCs by August 10, 2001, through which the Board will be able to monitor progress and assess the feasibility of meeting the target timelines. For retail market readiness, all LDCs will have to calculate settlement costs, produce unbundled bills, provide standard supply service, change suppliers and accommodate retail transactions. LDCs must be either authorized participants in the IMO-administered market or become retail customers of their host LDC. Unbundled bills will include itemized charges for energy price, transmission, distribution and debt retirement charge. 1 tab., 1 fig

  11. Gas and electricity 2001: new market mechanisms

    International Nuclear Information System (INIS)

    2001-11-01

    This document brings together 15 testimonies of experts about the opening of gas and electricity markets: 1 - from the opening of the electricity market to the future deregulation of the gas market: what are the new rules of the world energy market? Gaz de France's strategy in front of the opening of the market. The problem of the gas supplies in Europe in the framework of the opening of markets; 2 - Is the access to the network the same for everybody: the regulation authority as catalyst of the electricity market; the technical network constraints and the conditions of access to the transport and interconnections; the regulatory and contractual framework of the access to interconnections; how a foreign producer can warrant the supply of electricity in France; 3 - which global offer and which new services to be supplied to clients today: what is the global offer of a new actor? Power supply and associated services: what is the global offer of new actors to answer the client's needs? 4 - What are the expectations and choices of consumers in a de-regulated environment; definitions and implementations of new European strategies of purchase: how the purchaser work has changed? 5 - What is the place of the energy trade: the implementation of the electricity stock exchange in France: Powernext. How to manage risks associated to a gas/electricity assets portfolio? (J.S.)

  12. Determining market boundaries in the electricity sector

    International Nuclear Information System (INIS)

    Godde, Anne

    2013-01-01

    The purpose of the present study was to develop a method of determining market boundaries in preparation of identifying all the competitive forces which a company in the electricity sector must address and deciding on this basis whether it has a dominant position in the market. The study focused in particular on current developments in the German electricity sector, this being the only way to permit a demarcation that accurately reflects the true economic situation. First the question was addressed whether a determination of market boundaries is at all necessary for performing a competitive analysis and in what specific constellations they could play a role. Giving due consideration to the special features of the electricity sector the most preferable market demarcation methods were applied to individual areas of the electricity sector that are of competitive relevance. Efforts were directed at arriving at market boundaries most conducive to the goal of identifying those competitive forces which a company in the electricity sector must address. For this purpose a critical assessment was undertaken of established market demarcation practices in Europe and Germany in order to determine whether ''classical'' market demarcation methods could be applied or whether modifications were needed on account of special features of market structure. The author also describes and discusses alternatives to the established market demarcation methods. She also elucidates methods of determining the boundaries of markets that have emerged as a result of recent developments in the electricity sector, for example through the growth of electricity production from renewable resources, or which are still in the process of formation.

  13. Competition policies on the electricity markets

    International Nuclear Information System (INIS)

    Dubois, U.

    2008-01-01

    This article puts forward a critical analysis of European competition instruments and practices in terms of market power on the electricity wholesale markets. Due to the speck nature of electrical activities, competition policies come up against difficulties of market power identification at first, since there is no model for detecting perfectly the potential or real exertion of market power in this sector. What is more, since competition authorities rely on specific intervention methods, their ability to limit the exertion of market power is relatively low. For a large number of their interventions involves controlling concentrations. In the light of this double phenomenon, this article discusses some recent developments of European competition policies on the electricity wholesale markets. The sector inquiry of 2007 seems to mark the start of a new competition policy practice in the electricity sector. The initiative and decision-making power now seem to be nesting mainly at a European level where action is not only to be found in terms of controlling mergers and acquisitions, but also stretches to involve an in-depth evaluation of the way the different markets work. This action is manifested in decisions to investigate some companies as well as legislative proposals in the framework of the third package. Thus we are moving towards a greater monitoring of electricity markets using more formal supervision instruments and on a more continuous basis. (author)

  14. Market power in the Nordic electricity wholesale market: A survey of the empirical evidence

    International Nuclear Information System (INIS)

    Fridolfsson, Sven-Olof; Tangeras, Thomas P.

    2009-01-01

    We review the recent empirical research assessing market power on the Nordic wholesale market for electricity, Nord Pool. The studies find no evidence of systematic exploitation of system level market power on Nord Pool. Local market power arising from transmission constraints seems to be more problematic in some price areas across the Nordic countries. Market power can manifest itself in a number of ways that have so far escaped empirical scrutiny. We discuss investment incentives, vertical integration and buyer power, as well as withholding of base-load (nuclear) capacity.

  15. Electricity market design of the future; Strommarktdesign der Zukunft

    Energy Technology Data Exchange (ETDEWEB)

    Peek, Markus; Diels, Robert [r2b energy consulting GmbH, Koeln (Germany)

    2016-02-15

    The transformation of the power generation system, to one in which renewable energies will form a cornerstone, will change the requirements for all market actors. To achieve the goals of the German Energiewende ('energy transition'), greater flexibility in production and consumption is of particular importance. Flexibility enables the cost-effective integration of the fluctuating actual feed-in of renewable energies. On the one hand, the technical options for reducing existing technical inflexibilities are given to a considerable extent. On the other hand, analyses of the transnational compensation effects of load and renewable energy supply (RES) feed-in show that flexibility requirements can be reduced significantly in a common electricity market. Electricity markets in which there is open technological competition are an appropriate instrument for the flexibilization of the power supply system. In the short term, the mechanisms of competitive electricity markets ensure an efficient synchronization of supply and demand. Over the medium and long term, the market creates efficient incentives to adapt the generation system and the behavior of consumers to future needs, resulting from the changes in the residual load structure. But at the same time, in recent years the occurrence of negative electricity prices in situations with significantly positive residual loads show that flexibility restraints exist. The causes of these restraints are at least partly due to the market design or the regulatory framework. On the one hand, there are barriers to market entry and, on the other hand, price signals from the electricity markets do not reach all market actors or reach them distortedly. To enable the cost effective development of the different flexibility options in an open technology competition, restraints resulting from market design and the regulatory framework (e. g. in the framework of grid charges, the market and product design of control power markets

  16. Pricing of electricity tariffs in competitive markets

    International Nuclear Information System (INIS)

    Keppo, J.; Raesaenen, M.

    1999-01-01

    In many countries electricity supply business has been opened for competition. In this paper we analyze the problem of pricing of electricity tariffs in these open markets, when both the customers' electricity consumption and the market price are stochastic processes. Specifically, we focus on regular tariff contracts which do not have explicit amounts of consumption units defined in the contracts. Therefore the valuation process of these contracts differs from the valuation of electricity futures and options. The results show that the more there is uncertainty about the customer's consumption, the higher the fixed charge of the tariff contract should be. Finally, we analyze the indication of our results to the different methods for estimating the customer's consumption in the competitive markets. Since the consumption uncertainties enter into the tariff prices, the analysis indicates that the deterministic standard load curves do not provide efficient methods for evaluating the customers' consumption in competitive markets

  17. Environmental policies in competitive electricity markets

    NARCIS (Netherlands)

    Langestraat, R.

    2013-01-01

    In this thesis we model and analyze several environmental policies in an existing mathematical representation of a perfectly competitive electricity market. We contribute to the literature by theoretically and numerically establishing a number of effects of environmental policies on investment

  18. Market integration and market concentration in horizontally differentiated industries

    OpenAIRE

    Eckel, Carsten

    2001-01-01

    This paper derives the impact of market integration on equilibrium firm size and market concentration in horizontally differentiated industries. We show that market concentration (measured by the number of firms) can rise as a consequence of market integration if firms engage in R&D competition. We also demonstrate that whether concentration occurs or not depends on the R&D production function and on consumer preferences. This result implies that the welfare effects of market integration are ...

  19. Agent-based simulation of electricity markets : a literature review

    International Nuclear Information System (INIS)

    Sensfuss, F.; Genoese, M.; Genoese, M.; Most, D.

    2007-01-01

    The electricity sector in Europe and North America is undergoing considerable changes as a result of deregulation, issues related to climate change, and the integration of renewable resources within the electricity grid. This article reviewed agent-based simulation methods of analyzing electricity markets. The paper provided an analysis of research currently being conducted on electricity market designs and examined methods of modelling agent decisions. Methods of coupling long term and short term decisions were also reviewed. Issues related to single and multiple market analysis methods were discussed, as well as different approaches to integrating agent-based models with models of other commodities. The integration of transmission constraints within agent-based models was also discussed, and methods of measuring market efficiency were evaluated. Other topics examined in the paper included approaches to integrating investment decisions, carbon dioxide (CO 2 ) trading, and renewable support schemes. It was concluded that agent-based models serve as a test bed for the electricity sector, and will help to provide insights for future policy decisions. 74 refs., 6 figs

  20. Electricity market opening and electricity generation system's expansion in Slovenia

    International Nuclear Information System (INIS)

    Kosnjek, Z.; Vidmar, M.; Bregar, Z.

    2000-01-01

    Slovenia is rapidly adopting the European Union (EU) legislation to make itself ready to be admitted the fifteen EU member countries. In the area of energy or electricity supply industry, Slovenia has consequently enforced the Energy law, which in its essence follows the idea of the Directive 96/92/EC. Globally, the Directive defines common rules of the internal electricity market within EU. Any EU member country is responsible for assuring a competitive electricity market and implementing corresponding instruments as foreseen by the Directive. The share of the national market opening is calculated on the basis of eligible customers' consumption versus the overall consumption in a particular member country. Also, the Directive defines the rate of the electricity market opening. It is interesting to note that the EU member countries have been opening their national electricity markets at a greater speed than specified by the Directive. The overall Slovenian Electricity Supply Industry shall have to adapt itself to new imperatives, whereby the greatest changes will by all means take place in the area of electricity generation. As the reaction of eligible domestic market customers is quite unpredictable, the direct electricity import from foreign countries can only be estimated on a variant basis. EU countries that have deregulated their electricity market have been, step by step, gaining valuable experiences. The majority of them show a considerable pressure on having prices of the EPS generation sector reduced. A similar development can by all means be expected in Slovenia, too. it is expected that the major burden of the electricity market liberalisation and electric power interconnecting within EU will be carried by the EPS generation sector. The analyses of developed variants show that the burden, imposed by the transition onto the market economy, will be predominantly carried by the coal fired electricity supply industry. Further development of electricity

  1. Generation capacity adequacy in interdependent electricity markets

    International Nuclear Information System (INIS)

    Cepeda, Mauricio; Finon, Dominique

    2011-01-01

    This paper deals with the practical problems related to long-term security of supply in regional electricity markets with transmission constraints. Differences between regulatory policies and market designs in terms of generation adequacy policies may distort the normal functioning of the neighboring markets, as well as the reliability of supply. We test the effect of heterogeneous regulatory design between two interdependent markets: energy-only market, price-capped market without capacity mechanisms and price-capped markets with forward capacity contracts obligation. We rely on a long-term market simulation model in system dynamics that characterizes expansion decision in a competitive regime. The results show that differences in market designs affect both price and reliability of supply in the two markets. We examine both the short and long terms effect, and how free-riding may occur where capacity adequacy policies are adopted in one market but not the other. The main finding is that the lack of harmonization between local markets in policies to ensure capacity adequacy may lead to undesirable side effects. - Research highlights: → We model the long-term dynamic of two interdependent markets. → We examine both the short and long terms effect of heterogeneous regulatory design: energy-only market, price-capped market without capacity mechanisms and price-capped markets with forward capacity contracts obligation. → Differences in market designs affect both price and reliability of supply in the two markets. → Lack of harmonization between local markets in policies to ensure capacity adequacy may lead to undesirable side effects. → Free-riding may occur where capacity adequacy policies are adopted in one market but not the other.

  2. Modelling prices in competitive electricity markets

    International Nuclear Information System (INIS)

    Bunn, D.W.

    2004-04-01

    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)

  3. Fostering renewable electricity markets in North America

    International Nuclear Information System (INIS)

    Wingate, M.; Hamrin, J.; Kvale, L.; Alatorre, C.

    2007-04-01

    This paper provided an overview of key market demand and supply drivers for the renewable electricity in Canada, the United States and Mexico. The aim of the paper was to assist North American governments in supporting the development of renewable electricity by addressing barriers that currently contribute to higher costs as well as challenges related to policy implementation. The paper outlined regulatory mandates and discussed issues related to voluntary purchases, and financial incentives. Current policy frameworks for renewable electricity were also examined. Opportunities for developing the renewable electricity market North America were explored. Wind power environmental standards were reviewed. Various green pricing schemes were discussed. The paper also included recommendations for the current electricity market as well as for members of the North American Agreement on Environmental Cooperation. 84 refs., 4 tabs., 7 figs

  4. Testing market integration for Kenyan pineapples. | Onyuma ...

    African Journals Online (AJOL)

    The market structure was found to be oligopsonistic in nature with aspects of collusion amongst the urban middlemen and local market traders thus barring further entry by other potential actors. There was little market integration between urban markets and producing markets, and very low or no integration between the ...

  5. Ramsey prices in the Italian electricity market

    International Nuclear Information System (INIS)

    Bigerna, Simona; Bollino, Carlo Andrea

    2016-01-01

    In this paper, we derive optimal zonal prices in the Italian day-ahead electricity market using estimation of a complete system of hourly demand in 2010–2011. In Italy, the hourly equilibrium price for all buyers is computed as a uniform average of supply zonal prices, resulting from market splitting due to line congestion. We model ex-ante individual bids expressed by heterogeneous consumers, which are distinguished by geographical zones. Using empirical estimations, we compute demand elasticity values and new zonal prices, according to a Ramsey optimal scheme. This is a new approach in the wholesale electricity market literature, as previous studies have discussed the relative merit of zonal prices, considering only the issue of line congestion. Our results show that the optimal pricing scheme can improve welfare in the day-ahead Italian electricity market, with respect to both the existing uniform price scheme and the proposal to charge the existing supply zonal prices to the demand side. - Highlights: • We model and estimate the demand of heterogeneous buyers in the electricity market. • Transmission line congestion creates welfare distortions in the market. • We derive optimal Ramsey prices in the Italian day-ahead electricity market. • We compare optimal prices with historical ones showing how to improve welfare.

  6. What went wrong in California's electricity market?

    International Nuclear Information System (INIS)

    Chikeung Woo

    2001-01-01

    The California electricity market reform promised to deliver reliable service at low and stable prices. Frequent capacity shortages and the ensuing rolling black-outs, price spikes, and large price volatility since Summer 2000 raise a simple but substantive question: what went wrong? The answer to this question will help countries contemplating electricity market reform not to commit similar mistakes. We find the answer by identifying the major factors that have turned the California dream into a nightmare. Such factors include poor market design, market power, sustained demand growth not matched by new capacity, rising marginal cost, and financial insolvency. Proposed remedies include an alternative market settlement process, long-term contract, fast licensing and siting process for new generation and transmission, conservation and energy-efficiency, distributed resources, rate options, and debt restructuring. The California experience suggests that a reversible regulatory reform is a safe alternative to an irreversible market reform. (Author)

  7. Independent regulatory authorities in European electricity markets

    International Nuclear Information System (INIS)

    Larsen, Anders; Pedersen, Lene Holm; Sorensen, Eva Moll; Olsen, Ole Jess

    2006-01-01

    Liberalisation of the electricity market has taken place in most European countries within the last decade. It is considered a precondition of successful liberalisation to establish so-called independent regulatory authorities. In this article, we compare the status and practice of them in 16 European countries, and discuss the relationship between the organisation of the regulation and the market outcome

  8. Transmission : roadway to a competitive electricity market

    Energy Technology Data Exchange (ETDEWEB)

    Thon, S. [AltaLink L.P., AB (Canada)

    2002-07-01

    Having a variety of suppliers, marketers and retailers is the key to developing a successful electricity market which is more competitive on pricing, with less price volatility, more innovative customer products and higher levels of customer services. Some areas of Alberta are developing their own power markets with limited capacity to interact. These include Pincher Creek, Empress, Calgary, Edmonton, and Fort McMurray. It was noted that increasing transmission capacity is the key to ensuring a bigger and more competitive electricity market. Transmission constraints only encourage a small number of suppliers to control the market. The current cost of transmission capacity accounts for less than 5 per cent of an average residential customer's bill, but it plays a major role in providing more choice to competitive electricity suppliers. Developing more transmission capacity will create an even more competitive market that benefits both consumers and suppliers. Prices in Alberta have been very volatile in the past couple of years because of supply and demand issues, and there is a need to increase market liquidity. Alberta's Transmission Administrator is looking to expand the transmission network to alleviate constraints and to lower the cost of power generation, regardless of location. These expansions are not expected to affect customers' bills by more than 2 to 3 per cent. Such transmission concerns are being felt all over North America. The Federal Energy Regulatory Commission (FERC) in the United States also recognizes the link between transmission and creating a competitive electricity market.

  9. Electric utilities strategies in final energy markets

    International Nuclear Information System (INIS)

    Bianchi, A.

    2000-01-01

    In rapidly changing markets, electric utilities pay growing attention to customers and service. They are aware that competition needs strategies capable of transforming and strengthening the privileged position resulting from the knowledge of the market. Moreover, this aspect is the link between different value chains to describe new multi utility approaches [it

  10. Misconceptions of Electric Propulsion Aircraft and Their Emergent Aviation Markets

    Science.gov (United States)

    Moore, Mark D.; Fredericks, Bill

    2014-01-01

    Over the past several years there have been aircraft conceptual design and system studies that have reached conflicting conclusions relating to the feasibility of full and hybrid electric aircraft. Some studies and propulsion discipline experts have claimed that battery technologies will need to improve by 10 to 20 times before electric aircraft can effectively compete with reciprocating or turbine engines. However, such studies have approached comparative assessments without understanding the compelling differences that electric propulsion offers, how these technologies will fundamentally alter the way propulsion integration is approached, or how these new technologies can not only compete but far exceed existing propulsion solutions in many ways at battery specific energy densities of only 400 watt hours per kilogram. Electric propulsion characteristics offer the opportunity to achieve 4 to 8 time improvements in energy costs with dramatically lower total operating costs, while dramatically improving efficiency, community noise, propulsion system reliability and safety through redundancy, as well as life cycle Green House Gas emissions. Integration of electric propulsion will involve far greater degrees of distribution than existing propulsion solutions due to their compact and scale-free nature to achieve multi-disciplinary coupling and synergistic integration with the aerodynamics, highlift system, acoustics, vehicle control, balance, and aeroelasticity. Appropriate metrics of comparison and differences in analysis/design tools are discussed while comparing electric propulsion to other disruptive technologies. For several initial applications, battery energy density is already sufficient for competitive products, and for many additional markets energy densities will likely be adequate within the next 7 years for vibrant introduction. Market evolution and early adopter markets are discussed, along with the investment areas that will fill technology gaps and

  11. The Marketing Plan: An Integrative Device for Teaching Marketing Management.

    Science.gov (United States)

    Berdine, W. R.; Petersen, James C.

    1980-01-01

    The importance of the marketing plan is stressed as an integrative device for teaching marketing management, and a structure is presented to assist students in designing a marketing plan. Components of this plan include marketing objectives, targeting market and buying motives, external environment and competition, product, price, and promotion.…

  12. Defining electricity markets. An arbitrage cost approach

    International Nuclear Information System (INIS)

    Kleit, A.N.

    2001-01-01

    Market definition is a crucial component of antitrust policy. There is, however, no universally accepted method of carrying out market definition. While several approaches have been presented in the literature, each has its share of drawbacks. This paper suggests that a modeling technique based upon the theory of arbitrage is well suited to answering this question. After the empirical approach is presented, it is used to calculate antitrust market definitions between electricity hubs in the American West

  13. Opportunities for electricity storage in deregulating markets

    International Nuclear Information System (INIS)

    Graves, F.; Jenkin, T.; Murphy, D.

    1999-01-01

    This article addresses the value of electricity storage and its ability to take advantage of emerging energy arbitrage opportunities: buying power when it is inexpensive, and reselling it at a higher price. The focus of this article is on electricity markets and the opportunities they present for a merchant storage device, rather than on storage technologies themselves. There are a number of existing and emerging storage technologies: pumped hydro, various batteries, compressed air energy storage (CAES), superconducting magnetic energy storage (SMES), flywheels--even conventional hydro has storage-like properties. However, all these technologies operated on the same basic principle of exploiting short-term differentials in electricity prices: buy low, sell high (a strategy that is actually meaningful in electricity markets, unlike in financial markets). The object of this article is to develop and demonstrate a means for assessing the potential value of storage in different electricity markets, rather than to attempt to assess the prospects of a particular technology. The approach taken here is to look at price data from a number of actual electricity markets to determine what opportunities they might offer to a generic storage device. A storage technology is described here by its basic performance parameters--charge and generate capacity, energy inventory limits, and efficiency--which are sufficient to assess the basic economic potential of storage in a given market. The authors look primarily at US markets, but also compare and contrast findings with the situation in foreign markets in the U.K., Norway, Canada, and Australia, and discuss how market structure can influence the value of storage. Moreover, the authors use empirically observed relationships between hourly and 5 x 16 blocked prices to infer a rule for adjusting the value of storage assets in regions where only blocked price information is available

  14. The electricity markets around the Baltic Sea

    International Nuclear Information System (INIS)

    1995-12-01

    A thorough description of the electric power markets in the countries surrounding the Baltic sea is given in this book. Environmental problems and regulations and nuclear power are surveyed. Factors that may affect an expanded trade of electricity between the countries are analyzed

  15. The role of power exchanges for the creation of a single European electricity market: market design and market regulation

    International Nuclear Information System (INIS)

    Boisseleau, F.

    2004-01-01

    The electricity sector worldwide is undergoing a fundamental transformation of its institutional structure as a consequence of the complex interactions of political, economic and technological forces. The way the industry is organized is changing from vertically integrated monopolies to unbundled structures that favor market mechanisms. This process in Europe, known as the liberalization process, has had a wide impact on the European electricity industry. The focus of this dissertation is an analysis of the role of electricity power exchanges in the recently liberalized electricity markets of Europe. In the context of creating a competitive electricity market at a European level, the key questions considered are the functioning of these power exchanges with respect to electricity characteristics, market design and regulatory framework. In Europe, very little attention has been paid to the role of these new marketplaces and to the issue of market design in general. Hence the main purpose of this work was to analyze how these marketplaces facilitate the trading of electricity and the role they can play in the construction of a pan-European competitive electricity market. An analysis of power exchange requires taking into account the 'double-duality' of such institutions. One, power exchanges are both a market and an institution. As a market they facilitate the trading of electricity and determine an equilibrium price. As an institution power exchanges have their own objectives and constraints, and play a role in the market design of the overall electricity market. Two, the relationship between electricity power exchanges and liberalization is neither linear nor one way: liberalization encourages the birth of such marketplaces yet marketplaces are more than the results of such process, they are also a driving force of the liberalization process. This thesis is divided into three parts. The current situation in Europe and different existing theoretical approaches in

  16. Outlook for electricity markets 2005-2006 : an energy market assessment

    International Nuclear Information System (INIS)

    2005-06-01

    The National Energy Board monitors the supply of electricity as well as its demand in both domestic and export markets. This document was produced in response to a survey with power generation, transmission and distribution companies, marketers, end-users, environmental groups and government agencies who demonstrated the need for more short-and medium-term energy market assessments to supplement the Board's longer term energy analysis. It on the short-term (2005-2006) issues that can have a long-term effect on the electricity sector. The document presents an analysis of Canadian electricity markets with particular focus on the main drivers affecting current trends in generation, demand, prices, infrastructure additions, and inter-regional and international trade. Current restructuring activities in Canada's electricity industry were also described along with the close relationship between the electricity sectors in Canada and the United States which stems from the integrated nature of the North American power grid. A regional market assessment and a summary was provided for each of Canada's provinces and territories with reference to market structure and current market developments. It was revealed that Canada's electricity markets have developed along provincial or regional boundaries. Utilities have tried to provide adequate and reliable electricity supply, environmental sustainability and acceptable electricity prices. It was concluded that supply is adequate in all regions in the short-term, but tight supply conditions could emerge as early as 2007. Alternative and renewable resource and demand management are becoming more important in addressing air quality issues and supply adequacy. Since uncertainty may delay investment and development of new infrastructure, utilities may be forced to increase electricity prices. It was suggested that interprovincial energy transfers should be further explored. Five recommendations were presented to address the key

  17. Competitive electricity markets: One size should fit all

    International Nuclear Information System (INIS)

    Ruff, L.E.

    1999-01-01

    Various market models have been used to try to create competition in the electricity industry in various parts of the world, with varying degrees of success. But every electricity market that has produced reasonably effective and efficient competition has been based on some version of the same generic model. And most of the problems encountered by these markets--apart from problems due to structural flaws such as too few competitors--can be attributed to inconsistent or incomplete application of this basic model concept. In this sense, one size of market model really does fit all--or at least one size should fit all if the objective is to create effective and efficient competition for the benefit of consumers. Effort to slow or reverse the movement to an open spot market integrated with physical dispatch will create complexities and inefficiencies that benefit oligopolists and middlemen at the expense of smaller producers and final consumers

  18. Competitive electricity markets: One size should fit all

    Energy Technology Data Exchange (ETDEWEB)

    Ruff, L.E.

    1999-11-01

    Various market models have been used to try to create competition in the electricity industry in various parts of the world, with varying degrees of success. But every electricity market that has produced reasonably effective and efficient competition has been based on some version of the same generic model. And most of the problems encountered by these markets--apart from problems due to structural flaws such as too few competitors--can be attributed to inconsistent or incomplete application of this basic model concept. In this sense, one size of market model really does fit all--or at least one size should fit all if the objective is to create effective and efficient competition for the benefit of consumers. Effort to slow or reverse the movement to an open spot market integrated with physical dispatch will create complexities and inefficiencies that benefit oligopolists and middlemen at the expense of smaller producers and final consumers.

  19. Transmission capacities and competition in Western European electricity market

    International Nuclear Information System (INIS)

    Spiridonova, Olga

    2016-01-01

    The integration of national electricity markets into a single European one is expected to reduce the ability of dominant players to exercise market power. This paper investigates whether or not existing transmission capacities of cross-border interconnectors are sufficient to achieve this result and create vigorous competition in the market. A model with two decision levels is used. On the first level profit maximizing generators play Cournot game against each other. On the last level the system operator clears the market and determines flows in the network to maximize social welfare subject to a set of physical constraints. As each strategic generator anticipates her impact on equilibrium prices and congestion in the system, her optimization problem is subject to equilibrium constraints from the system operator's problem. The analysis demonstrates that interconnector capacities in Western Europe are insufficient for integration alone to reduce the exercise of market power. I compare several possible competition-enhancing policies: expansion of interconnectors and different scenarios of national markets’ restructuring. I show that although increase of line capacity is a useful tool to stimulate competition in an integrated market, it is not a substitute for the restructuring of large players. - Highlights: •The ability of integration to reduce market power depends on transmission capacities. •In the model firms compete in quantities, know their impact on prices and congestion. •In Western Europe integration will not diminish market power. •Line extension stimulates competition but is not a substitute for the regulation.

  20. Electrical energy market management in deregulated power system

    International Nuclear Information System (INIS)

    Abady, A. F.; Niknam, T.

    2003-01-01

    For many decades, vertically integrated electric utilities monopolized the way they control, sell and distribute electricity to customers in their service territories. In this monopoly, each utility managed three main components of the system: generation, transmission and distribution. Analogous to perceived competitions in airline, communication and natural gas industries which demonstrated that vertically integrated monopolies could not provide services as efficiently as competitive firms, the electric power industry plans to improve its efficiency by providing a more reliable energy at least cost to customers. A competition is guaranteed by establishing a restructured environment in which customers could choose to buy from different suppliers and change suppliers as they wish in order to pay market base rates. This paper is dealing with progressive approach of restructuring in power and introduce ISO, its functions and model of electrical energy markets

  1. Market study on the Mexican market for electrical distribution equipment

    International Nuclear Information System (INIS)

    1991-01-01

    A brief historical survey of the development of the Mexican electric power sector is presented, along with an overview of the state of the Mexican economy since the late 1980s and the present characteristics of the Mexican electricity sector. The Mexican market for electric power generation and distribution equipment is then assessed, from the perspective of Canadian suppliers and manufacturers intending to enter this market. Projected consumption of electrical generation and distribution equipment in Mexico for 1994 is estimated at US$1,035,600,000 ($719.4 million in production, $356.9 million in imports, and $40.7 million in exports). This market increased 12.3% in 1990, and since power demand in Mexico has been growing faster than growth in capacity, it is possible that investments in the electricity sector will grow at faster rates. Items which are traditionally imported include nuclear reactors and related equipment, boilers, turbines, power breakers, valves, coal and ash handling equipment, relays, automatic controls, and chemical treatment equipment. The USA has the greatest share of the import market with 35%, followed by Japan (22%), Switzerland (18%), and Germany (13%). Canadian exports have concentrated on distribution equipment and only totalled $1.7 million in 1990. Electricity is distributed to some 16.6 million users over a national interconnected system having total installed capacity of 30,513 MW in 1991. There are plans to increase capacity by 9.7 GW by 1994 and another 37.4-47.8 GW between 1995 and 2010. Projections of electricity needs by region are listed along with the new power plants targeted for investment. Market liberalization and lowering of tariffs have made the Mexican market more accessible to exporters. 8 tabs

  2. Power generation investment in electricity markets

    International Nuclear Information System (INIS)

    2003-01-01

    Most IEA countries are liberalizing their electricity markets, shifting the responsibility for financing new investment in power generation to private investors. No longer able to automatically pass on costs to consumers, and with future prices of electricity uncertain, investors face a much riskier environment for investment in electricity infrastructure. This report looks at how investors have responded to the need to internalize investment risk in power generation. While capital and total costs remain the parameters shaping investment choices, the value of technologies which can be installed quickly and operated flexibly is increasingly appreciated. Investors are also managing risk by greater use of contracting, by acquiring retail businesses, and through mergers with natural gas suppliers. While liberalization was supposed to limit government intervention in the electricity market, volatile electricity prices have put pressure on governments to intervene and limit such prices. This study looks at several cases of volatile prices in IEA countries' electricity markets, and finds that while market prices can be a sufficient incentive for new investment in peak capacity, government intervention into the market to limit prices may undermine such investment

  3. Electricity pricing and load dispatching in deregulated electricity market

    International Nuclear Information System (INIS)

    Geerli; Niioka, S.; Yokoyama, R.

    2003-01-01

    A rapid move to a market-based electric power industry will significantly alter the structure of electricity pricing and system operation. In this paper, we consider a game of negotiation in the electricity market, involving electric utilities, independent power producers (IPPs) and large-scale customers. We analyze the two-level game strategies for the negotiation process between utilities, IPPs and customers. These have been previously recognized as a way to come up with a rational decision for competitive markets, in which players intend to maximize their own profits. The derived operation rules based on competition can be viewed as an extension of the conventional equal incremental cost method for the deregulated power system. The proposed approach was applied to several systems to verify its effectiveness. (Author)

  4. Predicting the Potential Market for Electric Vehicles

    DEFF Research Database (Denmark)

    Jensen, Anders Fjendbo; Cherchi, Elisabetta; Mabit, Stefan Lindhard

    2017-01-01

    diffusion models in marketing research use fairly simple demand models. In this paper we discuss the problem of predicting market shares for new products and suggest a method that combines advanced choice models with a diffusion model to take into account that new products often need time to gain......Forecasting the potential demand for electric vehicles is a challenging task. Because most studies for new technologies rely on stated preference (SP) data, market share predictions will reflect shares in the SP data and not in the real market. Moreover, typical disaggregate demand models...... are suitable to forecast demand in relatively stable markets, but show limitations in the case of innovations. When predicting the market for new products it is crucial to account for the role played by innovation and how it penetrates the new market over time through a diffusion process. However, typical...

  5. Electricity prices in the Finnish retail market

    International Nuclear Information System (INIS)

    Lehto, Eero

    2011-01-01

    This study focuses, firstly, on the pricing of electricity in the Finnish retail market. In particular, the impact of the ownership structure on prices is tested empirically. Secondly, the influence of low-cost electricity sources on retail prices is considered. The question about whether the average fuel costs rather than the wholesale price determine the retail prices is thus addressed. The supply side behaviour characterised may explain the passivity of client activity in the seemingly competitive Finnish market. - Research highlights: → Ownership has a strong impact on retail prices in the Finnish electricity market. → Locally owned companies' rates are 5-15 per cent lower than investor owned companies' rates. → Own low cost acquisition of electricity helps local firms to keep prices at low levels.

  6. French dissatisfactions on the European electricity market

    International Nuclear Information System (INIS)

    Glachant, J.M.

    2007-01-01

    The author first notices that the French electricity professional consumers are dissatisfied with the results of the creation of the European domestic electricity market in 1997: price increase either on bills or on the wholesale markets, and even more price increases are to come. The author proposes to examine several issues: what has been done during the 6 or 7 past years, that is since the California crisis in 2000-2001, to put the European electrical reforms on a virtuous track? Have the basic market economy principles been respected to protect competitiveness of all energy consumer professionals? How and why the French government or EDF will make us pay gas, coal or CO 2 emission permits like in England or Germany whereas the French electricity production has mainly (90 or 95 per cent) a nuclear or hydraulic origin?

  7. Quantifying multiscale inefficiency in electricity markets

    Energy Technology Data Exchange (ETDEWEB)

    Uritskaya, Olga Y. [Department of Economics, University of Calgary, Calgary, Alberta T2N 1N4, and Department of Economics and Management, St. Petersburg Polytechnic University, St. Petersburg (Russian Federation); Serletis, Apostolos [Department of Economics, University of Calgary, Calgary, Alberta (Canada)

    2008-11-15

    One of the basic features of efficient markets is the absence of correlations between price increments over any time scale leading to random walk-type behavior of prices. In this paper, we propose a new approach for measuring deviations from the efficient market state based on an analysis of scale-dependent fractal exponent characterizing correlations at different time scales. The approach is applied to two electricity markets, Alberta and Mid Columbia (Mid-C), as well as to the AECO Alberta natural gas market (for purposes of providing a comparison between storable and non-storable commodities). We show that price fluctuations in all studied markets are not efficient, with electricity prices exhibiting complex multiscale correlated behavior not captured by monofractal methods used in previous studies. (author)

  8. Quantifying multiscale inefficiency in electricity markets

    International Nuclear Information System (INIS)

    Uritskaya, Olga Y.; Serletis, Apostolos

    2008-01-01

    One of the basic features of efficient markets is the absence of correlations between price increments over any time scale leading to random walk-type behavior of prices. In this paper, we propose a new approach for measuring deviations from the efficient market state based on an analysis of scale-dependent fractal exponent characterizing correlations at different time scales. The approach is applied to two electricity markets, Alberta and Mid Columbia (Mid-C), as well as to the AECO Alberta natural gas market (for purposes of providing a comparison between storable and non-storable commodities). We show that price fluctuations in all studied markets are not efficient, with electricity prices exhibiting complex multiscale correlated behavior not captured by monofractal methods used in previous studies. (author)

  9. The Liberalisation of the Electricity Market in Italy

    International Nuclear Information System (INIS)

    Dessenibus, A.; Viskovic, A.; Carollo, T.

    2001-01-01

    The electricity sector is under reform in all EU countries on both of the aspects of market organisation and Utilities' restructuring, the latter being a consequence of the former. Until very recently, most governments have considered the whole power sector to be a natural monopoly and therefore it should be closely regulated. Market liberalisation shifts decision-making from the State to the market and, for the first time in the history of electricity Utility, gives consumer a choice. The new framework is featured by the introduction of competition in electricity generation and end-users' supply, non-discriminatory access to the electricity network and a redefinition of the regulatory function of governments. This study briefly resumes the market reforms and the new market organisation in Italy. Italy has implemented the EU directive on internal electricity market since 1999. So far, the process of market liberalisation has not come to an end yet. Currently ENEL, the former vertically integrated monopolist, is dismissing 25 percent of its power generation capacity, by selling in the market three power generation companies (GENCOs). An independent Transmission System Operator is fully operative since July 1999 and a transparent and non-discriminatory access to the network is guaranteed to all of the electricity power generation companies. The Market Pool Operator is defining the code of the Market Pool that will be applied to the price settlement into the Pool. The opening of the market on the demand side is growing year by year, according to the enlargement of the consumers who are allowed to sign freely contracts of supply with distributors (eligible consumers). Three months after the selling of the third Genco, the eligibility threshold will be lowered at 0.1 GWh. At that time, the open market is expected to represent 70 percent of the overall electricity consumption in Italy. Available evidence on liberalisation process in United Kingdom and in Scandinavian

  10. European Electricity Markets in Crisis: Diagnostic and Way Forward

    International Nuclear Information System (INIS)

    Roques, Fabien

    2013-01-01

    The European electricity industry is going through a profound crisis as several factors combine to create a challenging operating environment for thermal plants. The key issue is that the regulatory and market framework create a climate of deep policy and regulatory uncertainty which will hamper investments and will not deliver on the long term objectives of decarbonization and competitiveness of the European economy. This report analyses both the short and long term challenges for the European electricity markets, and highlights some directions for reform. The report has three main parts. The first part describes the current status quo and challenges associated with the long term decarbonization of the European economy: Section 1 sets the scene by describing the current challenges for the European electricity industry and the challenges associated with the long term decarbonization of the European economy; Section 2 quantifies the investment challenge for the electricity industry and shows how the current regulatory uncertainty undermines investments and will likely not deliver on the stated policy objectives; The second part of the report focusses on the 'extrinsic' issues which affect electricity markets: Section 3 reviews the wider context for electricity market liberalization, which calls for a rethink of the European energy policy framework, including the recent developments in global energy markets, as well as the impact of rising energy prices on economic competitiveness; Section 4 presents the distortive effects of support policies for low carbon technologies and the issues with the European carbon Trading Scheme; The third and last part of the report concentrates on the 'intrinsic issues' with electricity markets: Section 5 details the experience to date with European electricity markets liberalization, and highlights the achievements as well as the shortcomings of the liberalization and integration process; Section 6 dwells into the 'intrinsic issues

  11. Wholesale electricity markets in Europe; Mercados Mayoristas de Electricidad en Europa

    Energy Technology Data Exchange (ETDEWEB)

    Rios, J. L.

    2010-07-01

    Electricity Wholesale Markets provide efficient operation of power stations, facilitate hedging instruments for generators and retailers and deliver price signals for new investments. Despite having a common regulatory framework at European level whose last aim is a single electricity market, Wholesale markets have been unevenly developed in each Member State. The evolution form a spot-based market towards a forward-based market needs a certain level of liquidity, transparency and regulatory stability. Interconnections are the key element to promote the integration of electricity markets. To facilitate this, European Regional Initiatives have pushed regulatory harmonization between countries and market coupling projects. (Author)

  12. Price discovery in restructured electricity markets

    Energy Technology Data Exchange (ETDEWEB)

    Dempster, Gregory [Hampden-Sydney College, Box 132, Hampden-Sydney, VA 23943 (United States); Isaacs, Justin [Hampden-Sydney College, Hampden-Sydney, VA 23943 (United States); Smith, Narin [Southern Company (United States)

    2008-05-15

    We empirically investigate the degree of integration that existed prior to the cost increases that caused emergency conditions in the Western Systems Coordinating Council (WSCC), particularly California, during the summer of 2000. Evidence from Granger causality tests and common features analysis over the period from December 1994 to September 1999 indicates a moderate degree of integration among these markets. However, price effects throughout the region were often only unidirectional, did not exhibit the characteristics of perfect substitutability, and were significantly influenced by institutional changes in the California market. Most importantly, our research suggests that these markets were not as highly integrated as earlier research had indicated. (author)

  13. Research on service strategy of electricity selling company under the reform of electricity market

    Science.gov (United States)

    Long, Zhuhan; Meng, Shiyu; Dou, Jinyue; Zeng, Ming; Sun, Chenjun

    2017-10-01

    The opening of the sale side of electricity market is an important goal of the new round of power system reform in China, and it is necessary to speed up the establishment and development of the electricity selling companies to achieve this goal. First of all, this paper defines the key problems, which are needed to be solved in the establishment of the sale side market, such as demand side response, optimization of users' power consumption mode, profit mode of electricity selling companies and fair competition in the market. On this basis, this paper analyzes the business of electricity selling company, from the aspects of the transition of business ideas, improving the energy efficiency level, providing integrated energy solutions and innovating business management mode; and then, the service strategies of electricity selling companies are put forward.

  14. Electric markets and services of the system

    International Nuclear Information System (INIS)

    Carbajo, A.

    2007-01-01

    Electricity cannot be stored in significant quantities and requires generation and demand be balanced instantly in order to control the frequency. This means that the electric system must be equipped with specific devices in order to ensure this dynamic balance. Of the services required by the electric system, some are mandatory for the generators, while others are voluntary, these last ones being those supplied under market schemes. On the other hand, the commitment of the Spanish electric system to incorporate a significant volume of renewable energy, due to its intermittent properties, demands that these adjustment services use a greater volume of this energy in order to ensure the reliability of the system at all times. Finally, securing the Iberian electric market implies that there might be variations in these services - not only in the volume but also in their characteristics. (Author)

  15. The Nordic electricity market and how it can be improved

    Energy Technology Data Exchange (ETDEWEB)

    Togeby, M.

    2012-05-15

    The Nordic electricity market is acknowledged worldwide as being successful. However, the market is not perfect. In this report we emphasise the consumer perspective of the electricity market - it seems clear that further development is required here. Challenges to the Nordic electricity market include: 1) Efficient involvement of the consumer in the market and consumer trust in the market. 2) Efficient integration of large scale renewable energy - e.g. 15,000 MW wind power in 2020. 3) Limited competition in peak load situations, in situations with little hydro availability and in situations with congestions in the transmission system. This analysis recommends three areas as focus points for future market development: 4) Ways to radically increase the volume of demand response. 5) Ways to improve the system of default suppliers. 6) Ways to improve the regulation of distribution companies. The issues related to these three focus points differ from country to country, but the overarching issues are relevant in all market areas. (Author)

  16. Design and analysis of electricity markets

    Science.gov (United States)

    Sioshansi, Ramteen Mehr

    Restructured competitive electricity markets rely on designing market-based mechanisms which can efficiently coordinate the power system and minimize the exercise of market power. This dissertation is a series of essays which develop and analyze models of restructured electricity markets. Chapter 2 studies the incentive properties of a co-optimized market for energy and reserves that pays reserved generators their implied opportunity cost---which is the difference between their stated energy cost and the market-clearing price for energy. By analyzing the market as a competitive direct revelation mechanism we examine the properties of efficient equilibria and demonstrate that generators have incentives to shade their stated costs below actual costs. We further demonstrate that the expected energy payments of our mechanism is less than that in a disjoint market for energy only. Chapter 3 is an empirical validation of a supply function equilibrium (SFE) model. By comparing theoretically optimal supply functions and actual generation offers into the Texas spot balancing market, we show the SFE to fit the actual behavior of the largest generators in market. This not only serves to validate the model, but also demonstrates the extent to which firms exercise market power. Chapters 4 and 5 examine equity, incentive, and efficiency issues in the design of non-convex commitment auctions. We demonstrate that different near-optimal solutions to a central unit commitment problem which have similar-sized optimality gaps will generally yield vastly different energy prices and payoffs to individual generators. Although solving the mixed integer program to optimality will overcome such issues, we show that this relies on achieving optimality of the commitment---which may not be tractable for large-scale problems within the allotted timeframe. We then simulate and compare a competitive benchmark for a market with centralized and self commitment in order to bound the efficiency

  17. Energy subsidies in California's electricity market deregulation

    International Nuclear Information System (INIS)

    Ritschel, Alexander; Smestad, G.P.

    2003-01-01

    Deregulation and re-regulation of California's electricity market not only failed in terms of anticipated cost reductions, improved customer service and higher competition, it also led to the introduction of various additional energy subsidies. This paper analyzes California's electricity market deregulation process from a subsidy viewpoint. Under deregulation in California, investor-owned utilities were not allowed to pass their energy procurement costs fully on to their customers, and therefore subsequently, and inevitably, ran into severe financial problems. Such retail price regulation is an energy subsidy that is both economically and environmentally unfavorable, because it veils true price signals to electricity consumers and, in this way, discourages energy conservation. Other policies implemented in California that represent perverse energy subsidies are the purchase of power by the state of California, the suspension of retail competition, and the potential misuse of money from the recovery of stranded costs. Many interventions implemented by the state to smooth out the impacts of the energy crisis insulated electricity consumers from market realities, supported the existing structure of California's electricity market, which is predominantly based on fossil fuels, and suppressed market incentives to improve energy conservation

  18. Time-dependent correlations in electricity markets

    International Nuclear Information System (INIS)

    Alvarez-Ramirez, Jose; Escarela-Perez, Rafael

    2010-01-01

    In the last years, many electricity markets were subjected to deregulated operation where prices are set by the action of market participants. In this form, producers and consumers rely on demand and price forecasts to decide their bidding strategies, allocate assets, negotiate bilateral contracts, hedge risks, and plan facility investments. A basic feature of efficient market hypothesis is the absence of correlations between price increments over any time scale leading to random walk-type behavior of prices, so arbitrage is not possible. However, recent studies have suggested that this is not the case and correlations are present in the behavior of diverse electricity markets. In this paper, a temporal quantification of electricity market correlations is made by means of detrended fluctuation and Allan analyses. The approach is applied to two Canadian electricity markets, Ontario and Alberta. The results show the existence of correlations in both demand and prices, exhibiting complex time-dependent behavior with lower correlations in winter while higher in summer. Relatively steady annual cycles in demand but unstable cycles in prices are detected. On the other hand, the more significant nonlinear effects (measured in terms of a multifractality index) are found for winter months, while the converse behavior is displayed during the summer period. In terms of forecasting models, our results suggest that nonlinear recursive models (e.g., feedback NNs) should be used for accurate day-ahead price estimation. In contrast, linear models can suffice for demand forecasting purposes. (author)

  19. Importance of Electricity Transport Pricing in Liberalised Energy Markets

    International Nuclear Information System (INIS)

    Wohlgemuth, N.

    2001-01-01

    Electricity has traditionally been supplied by vertically integrated companies providing generation, transmission and distribution services. Consumers have purchased a bundled commodity - delivered electricity - and there has been no need to price the components individually. This is no longer the case in competitive and unbundled electricity markets. One of the outstanding issues in the restructuring of the electricity markets is the way in which transmission costs are translated into tariffs. The efforts to create a single European electricity market are difficult to reconcile due to different national network pricing approaches. The European Commission's draft regulation on conditions for access to the network for cross-border exchanges of electricity sets general principles for the pricing of international electricity exchanges. Nodal pricing provides incentives for an efficient use of generation and transmission assets. Experience shows that nodal pricing is workable, and its use may be expected to increase progressively. Postage stamp pricing does not generally provide adequate incentives for efficiency. However, inefficiencies may be small under certain conditions, and postage stamp pricing has the advantage of being relatively transparent and easy to implement. This paper presents an overview of objectives related to an effective design of transmission pricing approaches, of transmission pricing models and presents recent developments in Europe in this respect. Due to the great number of institutional designs of electricity market organisations, it will be difficult to design and implement a model of cross-border transmission pricing that results in a high degree of non-discriminatory international competition in electricity markets, a key objective of the Electricity Directive.(author)

  20. The Integration of Corporate Non-Market and Market Strategies

    DEFF Research Database (Denmark)

    Xie, Peihong; Li, Xin; Xie, Xuemei

    2014-01-01

    Purpose: This paper aims to systematically examine the key notion of integration of non-market and market strategies in the increasingly popular study of corporate non-market strategies. Design/methodology/approach: This paper is based on a brief literature review of the non-market strategy (NMS...... explore how to seamlessly coordinate non-market and market strategies in order to gain maximal synergies. Originality/value: This paper is the first to examine the key notion of integration in a systematic manner. It is the first to propose a three-question solution to systematic understanding......) research that shows the existing literature does not offer a clear and systematic account of the key notion of integration. It suggests any systematic account of integration should address at least three interrelated questions, i.e. why, what and how to integrate non-market and market strategies? Findings...

  1. Measuring market performance in restructured electricity markets: An empirical analysis of the PJM energy market

    Science.gov (United States)

    Tucker, Russell Jay

    2002-09-01

    Today the electric industry in the U.S. is transitioning to competitive markets for wholesale electricity. Independent system operators (ISOs) now manage broad regional markets for electrical energy in several areas of the U.S. A recent rulemaking by the Federal Energy Regulatory Commission (FERC) encourages the development of regional transmission organizations (RTOs) and restructured competitive wholesale electricity markets nationwide. To date, the transition to competitive wholesale markets has not been easy. The increased reliance on market forces coupled with unusually high electricity demand for some periods have created conditions amenable to market power abuse in many regions throughout the U.S. In the summer of 1999, hot and humid summer conditions in Pennsylvania, New Jersey, Maryland, Delaware, and the District of Columbia pushed peak demand in the PJM Interconnection to record levels. These demand conditions coincided with the introduction of market-based pricing in the wholesale electricity market. Prices for electricity increased on average by 55 percent, and reached the $1,000/MWh range. This study examines the extent to which generator market power raised prices above competitive levels in the PJM Interconnection during the summer of 1999. It simulates hourly market-clearing prices assuming competitive market behavior and compares these prices with observed market prices in computing price markups over the April 1-August 31, 1999 period. The results of the simulation analysis are supported with an examination of actual generator bid data of incumbent generators. Price markups averaged 14.7 percent above expected marginal cost over the 5-month period for all non-transmission-constrained hours. The evidence presented suggests that the June and July monthly markups were strongly influenced by generator market power as price inelastic peak demand approached the electricity generation capacity constraint of the market. While this analysis of the

  2. Integrated marketing communications in sport organizations

    OpenAIRE

    Gašović Milan

    2011-01-01

    Integrated marketing communications represent the unification of organization's marketing and communication activities. Sports organizations have the emphasized need for effective communication with their environment (the public, the media, advertisers, sponsors, and other subjects interested in their offer). Elements of the integrated marketing communications are: advertising, personal selling, sales promotion, publicity, public relations, direct marketing, Internet communications etc. Each ...

  3. The liberalisation of the continental European electricity market : lessons learned

    International Nuclear Information System (INIS)

    Haas, R.; Auer, H.; Keseric, N.; Glachant, J.M.; Perez, Y.

    2006-01-01

    Before 1990, nearly all electricity supply companies in continental Europe (CE) were vertically integrated in a franchise market, either state-owned or under price-regulated mixed private-public ownership. In 1996, the European Commission (EC) issued a directive for a common electricity market, which launched the liberalisation of the electricity market in continental Europe (CE). The ultimate objective was to lower electricity prices throughout Europe by promoting competition in generation and supply through price deregulation and privatization. The intention of the EC was to create one common European electricity market. This paper analyzed the evolution of this market along with conditions needed to enhance competition in the long term. It also presented background information with major data on electricity supply and demand in the CE markets and outlined EC and national governments' market liberalisation initiatives and the major changes that countries have made. Currently, there are at least 7 distinct sub-markets separated by partly insufficient transmission capacity and differences in access conditions to the grid. In 2004, the total demand in the CE area was 2300 TWh. This paper also summarized generation capacity and load in CE; imports and exports between CE countries; past and current transmission issues; political issues for restructuring; providing non-discriminatory access to the market and to the grid; the new institutional and regulatory environment and the promotion of renewables. The performance of the market was also reviewed with particular reference to market access, mergers, acquisitions, market concentration, and the evolution of both wholesale and retail electricity prices. It was concluded that in order to bring about effective competition in the long run, the following conditions would be required: complete ownership separation of the transmission grid from generation and supply in all countries and sub-markets; adequate capacity margin in

  4. The liberalisation of the continental European electricity market : lessons learned

    Energy Technology Data Exchange (ETDEWEB)

    Haas, R.; Auer, H.; Keseric, N. [Vienna Univ. of Technology, Vienna (Austria). Energy Economics Group; Glachant, J.M.; Perez, Y. [Paris-Sud Univ., Paris (France). ADIS-Group Reseaux Jean-Monnet

    2006-10-01

    Before 1990, nearly all electricity supply companies in continental Europe (CE) were vertically integrated in a franchise market, either state-owned or under price-regulated mixed private-public ownership. In 1996, the European Commission (EC) issued a directive for a common electricity market, which launched the liberalisation of the electricity market in continental Europe (CE). The ultimate objective was to lower electricity prices throughout Europe by promoting competition in generation and supply through price deregulation and privatization. The intention of the EC was to create one common European electricity market. This paper analyzed the evolution of this market along with conditions needed to enhance competition in the long term. It also presented background information with major data on electricity supply and demand in the CE markets and outlined EC and national governments' market liberalisation initiatives and the major changes that countries have made. Currently, there are at least 7 distinct sub-markets separated by partly insufficient transmission capacity and differences in access conditions to the grid. In 2004, the total demand in the CE area was 2300 TWh. This paper also summarized generation capacity and load in CE; imports and exports between CE countries; past and current transmission issues; political issues for restructuring; providing non-discriminatory access to the market and to the grid; the new institutional and regulatory environment and the promotion of renewables. The performance of the market was also reviewed with particular reference to market access, mergers, acquisitions, market concentration, and the evolution of both wholesale and retail electricity prices. It was concluded that in order to bring about effective competition in the long run, the following conditions would be required: complete ownership separation of the transmission grid from generation and supply in all countries and sub-markets; adequate capacity

  5. Economic Assessment of Hydrogen Technologies Participating in California Electricity Markets

    Energy Technology Data Exchange (ETDEWEB)

    Eichman, Joshua [National Renewable Energy Lab. (NREL), Golden, CO (United States); Townsend, Aaron [National Renewable Energy Lab. (NREL), Golden, CO (United States); Melaina, Marc [National Renewable Energy Lab. (NREL), Golden, CO (United States)

    2016-02-19

    As the electric sector evolves and increasing amounts of variable renewable generation are installed on the system, there are greater needs for system flexibility and sufficient capacity, and greater concern for overgeneration from renewable sources not well matched in time with electric loads. Hydrogen systems have the potential to support the grid in each of these areas. However, limited information is available about the economic competitiveness of hydrogen system configurations. This paper quantifies the value for hydrogen energy storage and demand response systems to participate in select California wholesale electricity markets using 2012 data. For hydrogen systems and conventional storage systems (e.g., pumped hydro, batteries), the yearly revenues from energy, ancillary service, and capacity markets are compared to the yearly cost to establish economic competitiveness. Hydrogen systems can present a positive value proposition for current markets. Three main findings include: (1) For hydrogen systems participating in California electricity markets, producing and selling hydrogen was found to be much more valuable than producing and storing hydrogen to later produce electricity; therefore systems should focus on producing and selling hydrogen and opportunistically providing ancillary services and arbitrage. (2) Tighter integration with electricity markets generates greater revenues (i.e., systems that participate in multiple markets receive the highest revenue). (3) More storage capacity, in excess of what is required to provide diurnal shifting, does not increase competitiveness in current California wholesale energy markets. As more variable renewable generation is installed, the importance of long duration storage may become apparent in the energy price or through additional markets, but currently, there is not a sufficiently large price differential between days to generate enough revenue to offset the cost of additional storage. Future work will involve

  6. Electrical connections: Iran's power market

    International Nuclear Information System (INIS)

    Anon

    2000-01-01

    Attention is drawn to business opportunities in Iran, a middle-eastern country that is still in the process of rebuilding its power generating capacity in the wake of its eight-year-long war with Iraq. In reviewing opportunities to tap into this market , the article lists a number of factors that must be considered before rushing to follow the current. One of these factors is the U.S. trade embargo against Iran. Under this embargo Canada does not allow the re-export of goods of U.S. origin from Canada to Iran. The complex character of doing business in Iran by foreign companies must also be considered. Nevertheless,, those who are well prepared to face the restrictions and are willing to take the time to learn about the 'Iranian way' may receive considerable help from the Export Development Corporation, including financing and insurance on a case-by-case basis. The Canadian government's program for export market development also offers direct financial assistance to Canadian exporters in an effort to reduce the risk of entering a foreign market. The Canadian Embassy in Tehran can also provide useful advice and assistance. There is also http://exportsource.gc.ca., Team Canada Inc.'s on-line resource that may be consulted for export information

  7. Time Varying Market Integration and Expected Rteurns in Emerging Markets

    NARCIS (Netherlands)

    de Jong, F.C.J.M.; de Roon, F.A.

    2001-01-01

    We use a simple model in which the expected returns in emerging markets depend on their systematic risk as measured by their beta relative to the world portfolio as well as on the level of integration in that market.The level of integration is a time-varying variable that depends on the market value

  8. Electricity deregulation - impact on gas users and markets

    International Nuclear Information System (INIS)

    Koeppel, H.

    1995-01-01

    Various scenarios for the natural gas market as a function a electricity deregulation were predicted. One scenario was the formation of an integrated market where sellers would offer a broad spectrum of energy products. This diversification would expand into the retail sector across North America. The second effect of electricity deregulation was energy cost reduction. The consumers have already been experiencing this benefit of deregulation. Cost reduction has also stimulated competition among energy suppliers, and improved suppliers' response to consumers'demands. The eventual shake-out of energy suppliers was predicted. Smaller companies that could not survive the competition would give up the market to larger companies that understood and met the customers' needs. It was concluded that deregulation of the electricity industry would have an enormous impact on the natural gas industry and that there would be opportunities for gain among buyers and sellers

  9. Proposal of a new architecture for the electricity market. Report for France Energie Eolienne

    International Nuclear Information System (INIS)

    2014-09-01

    In a context of evolution of electricity markets in all European countries, with notably an increasing share of renewable energies (particularly wind and solar energy), and as there are two main objectives for the future electricity market rules (integration of renewable energies within the market, market adaptation to a strong development of these energies), this document reports the development of recommendations for the implementation of a market architecture which would promote these objectives in France. These recommendations concern the access to the grid, the wholesale market, adjustment rules, an additional remuneration for renewable energies, the retail market, and the carbon market

  10. Towards electricity markets accommodating uncertain offers

    DEFF Research Database (Denmark)

    Papakonstantinou, Athanasios; Pinson, Pierre

    2014-01-01

    formulation of an electricity market, based on the Continuous Ranked Probability Score (CRPS) reduces the impact of poor estimates for both the stochastic producers and the system operator. We introduce a simulation setting which first demonstrates that impact and then proceed to illustrate the main features......The use of renewable energy sources of energy and in particular wind and solar has been on the rise over the last decades with plans to increase it even more. Such developments introduce significant challenges in existing power systems and can result in high electricity prices and costly...... infrastructure investments. In this paper we propose a new electricity market mechanism whereby the uncertain and dynamic nature of wind power and other stochastic sources is embedded in the market mechanism itself, by modelling producers’ bids as probabilistic estimates. An extension on the bilevel programming...

  11. Price volatility in wind dominant electricity markets

    DEFF Research Database (Denmark)

    Farashbashi-Astaneh, Seyed-Mostafa; Chen, Zhe

    2013-01-01

    High penetration of intermittent renewable energy sources causes price volatility in future electricity markets. This is specially the case in European countries that plan high penetration levels. This highlights the necessity for revising market regulations and mechanisms in accordance...... to generation combination portfolio. Proposed solutions should be able to tackle with emerging challenges which are mainly due to high variability and unpredictability of intermittent renewable resources. In this paper high price volatility will be introduced as an emerging challenge in wind dominant...... electricity markets. High price volatility is unappreciated because it imposes high financial risk levels to both electricity consumers and producers. Additionally high price variations impede tracking price signals by consumers in future smart grid and jeopardize implementation of demand response concepts...

  12. Liberalization of electricity markets and energy security

    International Nuclear Information System (INIS)

    Yajima, Masayuki

    2004-01-01

    Liberalization of electricity markets begun in England in 1990 and became the trends of the times. Its effects on the energy security and atomic power generation are discussed. On the effects on energy security, change of construction of fuel of power generation, decrease of fuel feed by high efficiency of power generation, decrease of fuel stock by pressure of cost-cutting, increase of import rate of electricity, increase of power consumption with decrease of power cost, flexibility of supply contract, diversification of service, international cooperation on energy security and mutual dependence relation by international investment are discussed. On the effects of liberalization on the electricity markets, characteristics of nuclear power generation, risk of investment, effects of introduction of competition on development of the existing and new nuclear power generation, relation between development of nuclear power generation and market failure and what the government should do for development of nuclear power generation are discussed. (S.Y.)

  13. Dynamics of the Croatian electricity market opening

    International Nuclear Information System (INIS)

    Pesut, D.; Zeljko, M.; Zutobradic, S.

    2003-01-01

    Customer eligibility is regulated by the Law on Electricity Market and its Article 23 (Official Gazette 79/01). Eligibility is understood as a possible supplier choice. To ensure the eligible status, annual demand should exceed 40 GWh. The category of customers that has gained the eligibility status based on the Law on Electricity Market makes out a total of around 7 percent of the annual electric energy consumption in Croatia. Thus, it can be said that electricity market openness in Croatia lies somewhat below 10 percent. According to the already mentioned Article 23, paragraph 4, the Government may determine annual demand threshold lowering as a condition to grant the eligibility status. According to the Law on Gas Market from 2001, the category of eligible gas customers in Croatia includes all electricity generators who use gas, regardless of the annual gas consumption, and other customers whose annual consumption exceeds 100 million m3. In 2002 there were seven such customers and they participated with 1,374,160,000 m3, i.e. 51 percent in the total gas consumption. As INA is the sole natural gas producer in Croatia with a long-term contract on the supply line lease for the transportation of Russian gas, it is also the only supplier of natural gas. Therefore, in 2002 each eligible customer bought gas from INA. Issues related to this field are: what kind of dynamics should one proceed with toward further energy market opening in Croatia? How large is this share of electricity, i.e. gas consumption in Croatia? What are the prerequisites, both organisational and technical, for this kind of market opening? (author)

  14. Demand response in Indian electricity market

    International Nuclear Information System (INIS)

    Siddiqui, Md Zakaria; Maere d'Aertrycke, Gauthier de; Smeers, Yves

    2012-01-01

    This paper outlines a methodology for implementing cost of service regulation in retail market for electricity in India when wholesale market is liberalised and operates through an hourly spot market. As in a developing country context political considerations make tariff levels more important than supply security, satisfying the earmarked level of demand takes a back seat. Retail market regulators are often forced by politicians to keep the retail tariff at suboptimal level. This imposes budget constraint on distribution companies to procure electricity that it requires to meet the earmarked level of demand. This is the way demand response is introduced in the system and has its impact on spot market prices. We model such a situation of not being able to serve the earmarked demand as disutility to the regulator which has to be minimised and we compute associated equilibrium. This results in systematic mechanism for cutting loads. We find that even a small cut in ability of the distribution companies to procure electricity from the spot market has profound impact on the prices in the spot market. - Highlights: ► Modelling the impact of retail tariff in different states on spot prices of electricity in India. ► Retail tariffs are usually fixed below appropriate levels by states due to political reasons. ► Due to revenue constraint distribution utility withdraws demand from spot market in peak hours. ► This adversely affects the scarcity rent of generators and subsequently future investment. ► We show possibility of strategic behaviour among state level regulators in setting retail tariff.

  15. Marketing wholesale electricity in British Columbia

    Energy Technology Data Exchange (ETDEWEB)

    Moghadam, B. [Powerex, Vancouver, BC (Canada)

    2002-03-14

    An open access wholesale transmission tariff (WTS) has been in place in British Columbia since 1997, and wholesale electricity can be sold to wholesale purchasers by independent producers located within the province. Customers range from municipalities to British Columbia Hydro (BC Hydro), to Powerex, to UtiliCorp Networks Corporation (UNC). Provided that the necessary approvals and transmission services have been acquired, the energy may be transmitted anywhere in Canada or the United States. The generation and sale of electricity within British Columbia and the United States is subject to government and regulatory approvals. Several buyers and sellers that come together to trade a product are part of a hub. The largest such hub in the Pacific Northwest is called the Mid-Columbia (Mid-C) hub in Washington. The commodity is traded in 25 MW standard blocks. The credit requirements of the purchaser must be satisfied by the generating party. BC Hydro wholesale transmission service can be purchased by any wholesale power marketer or generator to transmit the power to market. It is imperative that scheduling personnel be available at all times. The Western System Coordinating Council (WSCC) insists that an operating reserve of 5 per cent hydro generation and 7 per cent thermal generation to support the electrical system in the face of an emergency be available for the electricity marketed through the hub. Powerex has been successful since 1988 in the marketing of electricity throughout the WSCC. An example was provided to help make the rules a bit easier to comprehend. refs.

  16. Marketing wholesale electricity in British Columbia

    International Nuclear Information System (INIS)

    Moghadam, B.

    2002-01-01

    An open access wholesale transmission tariff (WTS) has been in place in British Columbia since 1997, and wholesale electricity can be sold to wholesale purchasers by independent producers located within the province. Customers range from municipalities to British Columbia Hydro (BC Hydro), to Powerex, to UtiliCorp Networks Corporation (UNC). Provided that the necessary approvals and transmission services have been acquired, the energy may be transmitted anywhere in Canada or the United States. The generation and sale of electricity within British Columbia and the United States is subject to government and regulatory approvals. Several buyers and sellers that come together to trade a product are part of a hub. The largest such hub in the Pacific Northwest is called the Mid-Columbia (Mid-C) hub in Washington. The commodity is traded in 25 MW standard blocks. The credit requirements of the purchaser must be satisfied by the generating party. BC Hydro wholesale transmission service can be purchased by any wholesale power marketer or generator to transmit the power to market. It is imperative that scheduling personnel be available at all times. The Western System Coordinating Council (WSCC) insists that an operating reserve of 5 per cent hydro generation and 7 per cent thermal generation to support the electrical system in the face of an emergency be available for the electricity marketed through the hub. Powerex has been successful since 1988 in the marketing of electricity throughout the WSCC. An example was provided to help make the rules a bit easier to comprehend. refs

  17. Particle Swarm Optimization of Electricity Market Negotiating Players Portfolio

    DEFF Research Database (Denmark)

    Pinto, Tiago; Vale, Zita; Sousa, Tiago

    2014-01-01

    Energy systems worldwide are complex and challenging environments. Multi-agent based simulation platforms are increasing at a high rate, as they show to be a good option to study many issues related to these systems, as well as the involved players at act in this domain. In this scope the authors......, the type of day (business day, weekend, holiday, etc.) and most important, the renewable based distributed generation forecast. The proposed approach is tested and validated using real electricity markets data from the Iberian operator – MIBEL.......’ research group has developed a multi-agent system: MASCEM (Multi- Agent System for Competitive Electricity Markets), which performs realistic simulations of the electricity markets. MASCEM is integrated with ALBidS (Adaptive Learning Strategic Bidding System) that works as a decision support system...... for market players. The ALBidS system allows MASCEM market negotiating players to take the best possible advantages from each market context. However, it is still necessary to adequately optimize the players’ portfolio investment. For this purpose, this paper proposes a market portfolio optimization method...

  18. The electricity market reinvention by regional renewal

    OpenAIRE

    Fontaine, Sebastian

    2016-01-01

    Just one hundred years ago, electricity was classified as a luxury good. Since renewable energies entered the German market 25 years ago, they slowly started to change some fundamental conditions. The ubiquity of electrical devices in our daily life is not something we think about anymore in the industrialised world. It has become as normal as breathing. Yet unlike air, power has to be obtained and distributed. The constant availability of current is therefore not a given thing, but something...

  19. European internal electricity market. What next?

    International Nuclear Information System (INIS)

    Petrov, K.; Hewicker, C.; Boisseleau, F.; Nabuurs, P.

    2007-01-01

    2006 has been a very active year in the development of electricity markets worldwide. In Europe the liberalisation process was moving forward driven by the European Directives implemented in the EU states. Together with security of supply and environmental protection, implementation of competitive energy markets has also been one of the main objectives of EU energy policy. A competitive internal market for electricity has been progressively implemented across the European Union since 1999-2000. This process aims at increasing competition in electricity generation and supply leading to enhanced efficiency, which is closely associated with lower production costs and ultimately lower electricity prices. The sector inquiry and the country reviews conducted by the European Commission (EC) during 2006 showed that progress has been achieved. However, there are still a number of issues that need to be resolved in order to achieve an adequately operating internal electricity market. The EC energy package from 10th January 2007 is a set of concrete proposals for action in the energy field and arises in reaction to the Green Paper published on 8th March 2006. The Green Paper 'A European Strategy for Sustainable, Competitive and Secure Energy', on the one hand, identified the main problems that the European energy sector faces and, on the other hand, suggested possible actions to meet key objectives, including security of supply, environmental sustainability and competitiveness towards a unified European Energy Policy. The motivation of the EC package is the need to identify new measures or a strengthening of existing measures to reach the targets and their underlying objectives. The EC package deals with the main issues on energy policy (renewable electricity, internal electricity and gas market, sector competition, sustainable power generation from fossil fuels, nuclear energy, gas and electricity infrastructures and energy technology) and an action plan for energy

  20. Risk management in electricity markets emphasizing transmission congestion

    International Nuclear Information System (INIS)

    Kristiansen, Tarjei

    2004-01-01

    This thesis analyzes transmission pricing, transmission congestion risks and their associated hedging instruments as well as mechanisms for stimulating investments in transmission expansion. An example of risk management in the case of a hydropower producer is included. After liberalization and restructuring of electricity markets, risk management has become important. In particular the thesis analyzes risks due to transmission congestion both in the short- and long-term (investments) for market players such as generators, loads, traders, independent system operators and merchant investors. The work is focused on the northeastern United States electricity markets and the Nordic electricity markets. The first part of the thesis reviews the literature related to the eight research papers in the thesis. This describes the risks that are relevant for an electricity market player and how these can be managed. Next, the basic ingredients of a competitive electricity market are described including the design of the system operator. The transmission pricing method is decisive for hedging against transmission congestion risks and there is an overview of transmission pricing models considering their similarities and differences. Depending on the transmission pricing method used, locational or area (zonal) pricing, the electricity market players can use financial transmission rights or Contracts for Differences, respectively. In the long-term it is important to create mechanisms for investments in transmission expansion and the thesis describes one possible approach and its potential problems. The second part comprises eight research papers. It presents empirical analyses of existing markets for transmission congestion derivatives, theoretical analyses of transmission congestion derivatives, modeling of merchant long-term financial transmission rights, theoretical analysis of the risks of the independent system operator in providing financial transmission rights, an analysis

  1. New High Voltage Interconnections with Islands in the Mediterranean Sea: Malta and Sicily. Analysis of the Effects on Renewable Energy Sources Integration and Benefits for the Electricity Market

    Directory of Open Access Journals (Sweden)

    Mariano Giuseppe Ippolito

    2018-04-01

    Full Text Available The present paper shows the benefits coming from the operation of the recent electrical high voltage (HV interconnections between Sicily, Malta and mainland Italy. These new interconnections allow zonal prices of electricity considerably lower than in the past, ensuring greater flexibility to the system and a better integration of Renewable Energy Sources (RES. After briefly illustrating the two high-voltage electrical systems (Sicily and Malta, and having provided a description of the interconnection cable with Malta and its protection devices, the authors hypothesized two modes of operation (Sicily-Malta system islanded or interconnected to the rest of Europe. For the first case (islanded some simulations are performed through the use of an electric network model realized in the Neplan® environment, and for the second case an analysis of one year real data was made. The results of the simulation, thanks to the use of a power flow tracing method, show that this new interconnection between the two islands (Sicily and Malta allows an important improvement in the integration and dispatching of the power generated by RES of the Sicilian territory, better operation of traditional Sicilian generation units, lower electricity zonal prices and a significant reduction in emissions from obsolete fuel oil thermal units located in Malta.

  2. Market power and technological bias in electricity generation markets

    International Nuclear Information System (INIS)

    Twomey, Paul; Neuhoff, Karsten

    2005-01-01

    It is difficult or very costly to avoid all market power in electricity markets. A recurring response is that a limited amount of market power is accepted with the justification that it is necessary to produce revenues to cover some of the fixed costs. It is assumed that all market participants benefit equally from the increased prices. However, this assumption is not satisfied if different production technologies are used. We assess the case of a generation mix of conventional generation and intermittent generation with exogenously varying production levels. If all output is sold in the spot market, then intermittent generation benefits less from market power than conventional generation. If forward contracts or option contracts are signed, then market power might be reduced but the bias against returns to intermittent generators persists. Thus allowing some level of market power as a means of encouraging investment in new generation may result in a bias against intermittent technologies or increase the costs of strategic deployment to achieve renewable quotas. (Author)

  3. Correlations and clustering in wholesale electricity markets

    Science.gov (United States)

    Cui, Tianyu; Caravelli, Francesco; Ududec, Cozmin

    2018-02-01

    We study the structure of locational marginal prices in day-ahead and real-time wholesale electricity markets. In particular, we consider the case of two North American markets and show that the price correlations contain information on the locational structure of the grid. We study various clustering methods and introduce a type of correlation function based on event synchronization for spiky time series, and another based on string correlations of location names provided by the markets. This allows us to reconstruct aspects of the locational structure of the grid.

  4. Empowering Customer Choice in Electricity Markets

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2011-07-01

    Timely and effective deployment of demand response could greatly increase power system flexibility, electricity security and market efficiency. Considerable progress has been made in recent years to harness demand response. However, most of this potential remains to be developed. The paper draws from IEA experience to identify barriers to demand response, and possible enablers that can encourage more timely and effective demand response including cost reflective pricing, retail market reform, and improved load control and metering equipment. Governments have a key role to play in developing and implementing the policy, legal, regulatory and market frameworks needed to empower customer choice and accelerate the development and deployment of cost-effective demand response.

  5. Correlations and clustering in wholesale electricity markets

    International Nuclear Information System (INIS)

    Cui, Tianyu; Caravelli, Francesco; Ududec, Cozmin

    2017-01-01

    We study the structure of locational marginal prices in day-ahead and real-time wholesale electricity markets. In particular, we consider the case of two North American markets and show that the price correlations contain information on the locational structure of the grid. We study various clustering methods and introduce a type of correlation function based on event synchronization for spiky time series, and another based on string correlations of location names provided by the markets. As a result, this allows us to reconstruct aspects of the locational structure of the grid.

  6. Electricity and gas market observatory. 1. Quarter 2007

    International Nuclear Information System (INIS)

    2007-01-01

    Since July 1, 2004, all electricity and gas consumers can be eligible according to their consumption site, as long as all or part of the electricity or gas consumed is designed for non-residential use. The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web site (www.cre.fr). It completes the information already published by CRE: - practical information for eligible customers: consumer guide, list of suppliers, - communications regarding markets running; CRE's annual activity report. Content: A - The electricity market: The retail electricity market (Introduction, Eligible customer segments and their respective weights, Status at April 1, 2007, Dynamic analysis: 1. Quarter 2007); The wholesale electricity market (Introduction, Traded volumes on the French wholesale electricity market and comparison with European markets, Prices on the French wholesale electricity market and European comparison, Import and export volumes, Concentration of the French electricity market, Striking facts of the 1. 2007 quarter); B - The gas market: The retail gas market (Introduction, The eligible customer segments and their respective weights, Status at April 1, 2007); The wholesale gas market (Gas pricing and gas markets in Europe, The wholesale market in France); C - Appendices: Electricity and gas market observatories combined glossary, Specific electricity market observatory glossary, Specific gas market observatory glossary

  7. Electricity and gas market observatory. 4. Quarter 2006

    International Nuclear Information System (INIS)

    2006-01-01

    Since July 1, 2004, all electricity and gas consumers can be eligible according to their consumption site, as long as all or part of the electricity or gas consumed is designed for non-residential use. The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web site (www.cre.fr). It completes the information already published by CRE: - practical information for eligible customers: consumer guide, list of suppliers, - communications regarding markets running; CRE's annual activity report. Content: A - The electricity market: The retail electricity market (Introduction, Eligible customer segments and their respective weights, Status at January 1, 2007, Dynamic analysis: 4. Quarter 2006); The wholesale electricity market (Introduction, Traded volumes on the French wholesale electricity market and comparison with European markets, Prices on the French wholesale electricity market and European comparison, Import and export volumes, Concentration of the French electricity market, Striking facts of the 4. 2006 quarter); B - The gas market: The retail gas market (Introduction, The eligible customer segments and their respective weights, Status at January 1, 2007); The wholesale gas market (Gas pricing and gas markets in Europe, The wholesale market in France); C - Appendices: Electricity and gas market observatories combined glossary, Specific electricity market observatory glossary, Specific gas market observatory glossary

  8. Competition in decentralized electricity markets: Three papers on electricity auctions

    Science.gov (United States)

    Harbord, David William Cameron

    This thesis consists of three self-contained papers on the analysis of electricity auctions written over a period of twelve years. The first paper models price competition in a decentralized wholesale market for electricity as a first-price, sealed-bid, multi-unit auction. In both the pure and mixed-strategy equilibria of the model, above marginal cost pricing and inefficient despatch of generating units occur. An alternative regulatory pricing rule is considered and it is shown that offering to supply at marginal cost can be induced as a dominant strategy for all firms. The second paper analyses strategic interaction between long-term contracts and price competition in the British electricity wholesale market, and confirms that forward contracts will tend to put downward pressure on spot market prices. A 'strategic commitment' motive for selling forward contracts is also identified: a generator may commit itself to bidding lower prices into the spot market in order to ensure that it will be despatched with its full capacity. The third paper characterizes bidding behavior and market outcomes in uniform and discriminatory electricity auctions. Uniform auctions result in higher average prices than discriminatory auctions, but the ranking in terms of productive efficiency is ambiguous. The comparative effects of other market design features, such as the number of steps in suppliers' bid functions, the duration of bids and the elasticity of demand are analyzed. The paper also clarifies some methodological issues in the analysis of electricity auctions. In particular we show that analogies with continuous share auctions are misplaced so long as firms are restricted to a finite number of bids.

  9. Auction game in electric power market place

    International Nuclear Information System (INIS)

    Kumar, J.; Sheble, G.

    1996-01-01

    The power industry in the US is presently an evolving changing business environment. While planning to meet future peak demand is still a concern, the efficient utilization of existing generation and transmission resources is fast becoming a primary interest. This interest suggests a move from cost-based market operations to price based market operations. Auction market structure is one of the various ways to perform price based operation. Such a market place would be very new and challenging to all players of the electric power industry. This paper describes an overview of the new business environment. The paper presents a detailed description of the auction game. The trading objectives in the bidding game are defined. The framework of auction process is described by defining the rules to play the game. Finally, strategies for market players are discussed

  10. Electricity spot price forecasting in free power market

    International Nuclear Information System (INIS)

    Lilleberg, J.; Laitinen, E.K.

    1998-01-01

    Deregulation has brought many changes to the electricity market. Freedom of choice has been granted to both the consumers and the utilities. Consumers may choose the seller of their energy. Utilities have a wider array of sources to acquire their electricity from. Also the types of sales contracts used are changing to fill the needs of this new situation. The consumers' right to choose has introduced a new risk uncertainty of volume, which was not true during the times of monopoly. As sold volume is unsure and the energy is not sold on same terms as it is bought, a price risk has to be dealt with also. The electric utility has to realize this, select a risk level that suits its business strategy and optimize its actions according to the selected risk level. The number of participants will grow as the electricity market integrates into a common market for Scandinavia and even Europe. Big customers are also taking a more active role in the market, further increasing the number of participants. This makes old bilateral arrangements outdated. New tools are needed to control the new business environment. The goal of this project has been to develop a theoretical model to predict the price in the Finnish electricity exchange, El-Ex Oy. An extensive literature review was conducted in order to (1) examine the solutions in deregulation of electricity markets in other countries, esp. in Norway and UK, (2) find similarities and differences in electricity exchange and exchanges generally and (3) find major sources of problems and inefficiency in the market

  11. Electricity spot price forecasting in free power market

    Energy Technology Data Exchange (ETDEWEB)

    Lilleberg, J; Laitinen, E K [Vaasa Univ. (Finland)

    1998-08-01

    Deregulation has brought many changes to the electricity market. Freedom of choice has been granted to both the consumers and the utilities. Consumers may choose the seller of their energy. Utilities have a wider array of sources to acquire their electricity from. Also the types of sales contracts used are changing to fill the needs of this new situation. The consumers` right to choose has introduced a new risk uncertainty of volume, which was not true during the times of monopoly. As sold volume is unsure and the energy is not sold on same terms as it is bought, a price risk has to be dealt with also. The electric utility has to realize this, select a risk level that suits its business strategy and optimize its actions according to the selected risk level. The number of participants will grow as the electricity market integrates into a common market for Scandinavia and even Europe. Big customers are also taking a more active role in the market, further increasing the number of participants. This makes old bilateral arrangements outdated. New tools are needed to control the new business environment. The goal of this project has been to develop a theoretical model to predict the price in the Finnish electricity exchange, El-Ex Oy. An extensive literature review was conducted in order to (1) examine the solutions in deregulation of electricity markets in other countries, esp. in Norway and UK, (2) find similarities and differences in electricity exchange and exchanges generally and (3) find major sources of problems and inefficiency in the market

  12. Integrated resource planning in Danish electricity supply

    International Nuclear Information System (INIS)

    1994-01-01

    Integrated Resource Planning in Danish Electricity Supply is a development project run by a cooperation of Danish electric power companies. It takes environmental issues, such as energy conservation, into consideration in addition to the European Union's proposal for a directive on the introduction of competition within the common energy market. The concept of integrated resource planning is described as a tool that can be used for a total cost minimization of the activities on the supply side and the demand side, this concept is further elucidated. It is explained that there must be an economic balance between the efforts on both sides and that this will ensure a total cost minimization. Preconditions, related for example to socio-economics, and procedures (step-by-step planning), functional barriers, a definition of roles and international influence and dialogue are also discussed. Satisfaction is expressed for this method of integrated resource planning, yet uncertainty as to the future structure of the free electricity market implies a cautious implementation. (AB)

  13. Energy markets and European Integration: The World Energy Council role

    International Nuclear Information System (INIS)

    Murray, J.

    2002-01-01

    Energy market reform brings many benefits. Central and East Europe's challenge is to establish such markets when, at list in the case of electricity, the established market economies are still wrestling with how to apply competitive principles to this market. Design challenges include the natural monopoly elements within the electricity supply chain and the fact that it is, in practical terms, as essential social service. There is no one single model suitable to all markets at all stages of development. At the same time, there is a need for sustainable energy pricing, which means prices should cover all costs, with transparent and time-limited subsidies bringing the afford ability gap. Cross-border integration extends the benefits available from market reform by overcoming constraints at the national level and by broadening the geographical limits of a market. The World Energy Council works with its Central and East European members to analyse, understand and meet these challenges. (author)

  14. Market power in deregulated electricity markets : a review of the recent experience

    International Nuclear Information System (INIS)

    Mullin, K.; Trebilcock, M.

    2003-01-01

    Traditionally, the electric power industry has been headed by vertically integrated monopolies that combined power generation, transmission, distribution and retail components of electricity supply. Electric utilities were generally publicly owned and subjected to rate-of-return regulation. The industry in many jurisdictions is now being unbundled with the advent of new generation technology that has led the way for small generation facilities to produce competitively priced electricity and enter the electricity market. Regulators have recognized that private monopolies had little incentive to minimize costs resulting in inefficient operation of the utility. The challenge lies in designing a system that truly promotes competitive markets. This presentation examined the characteristics of market power and described the experiences of several jurisdictions in dealing with possible market power abuse. The presentation also presented lessons learned in California, Pennsylvania, New Jersey, Maryland, New Zealand, Alberta, and Ontario that could be applied to future electricity markets. In conclusion, the authors state that governments should use caution when implementing across-the-board price caps, because doing so discourages new investment in generation capacity.152 refs

  15. Integrated marketing communications in sport organizations

    Directory of Open Access Journals (Sweden)

    Gašović Milan

    2011-01-01

    Full Text Available Integrated marketing communications represent the unification of organization's marketing and communication activities. Sports organizations have the emphasized need for effective communication with their environment (the public, the media, advertisers, sponsors, and other subjects interested in their offer. Elements of the integrated marketing communications are: advertising, personal selling, sales promotion, publicity, public relations, direct marketing, Internet communications etc. Each of these elements has some specifics which marketing specialists in sports organizations need to understand.

  16. Optimal Charge control of Electric Vehicles in Electricity Markets

    DEFF Research Database (Denmark)

    Lan, Tian; Hu, Junjie; Wu, Guang

    2011-01-01

    Environment constraints, petroleum scarcity, high price on fuel resources and recent advancements in battery technology have led to emergence of Electric Vehicles (EVs). As increasing numbers of EVs enter the electricity market, these extra loads may cause peak load and need to be properly...... controlled. In this paper, an algorithm is presented for every individual vehicles to minimize the charging cost while satisfying the vehicle owner’s requirements. The algorithm is based on a given future electricity prices and uses dynamic programming. Optimization aims to find the economically optimal...... solution for each vehicle....

  17. Load profiles analysis for electricity market

    Directory of Open Access Journals (Sweden)

    Radu Porumb

    2014-04-01

    Full Text Available In the wake of electric power system transition towards smart grids, and the adoption of the electric market schemes, electric utilities are facing the need of a better load profiles understanding for their customers. In this work, some key objectives were addresses, such as definition of the mathematical model for calculating the hourly energy specific, identification of the three target groups for users who have developed consumer profiles, definition of the two types of significant load and assessment of the impact of using consumer profiles on users.

  18. Electricity and gas market observatory. 1. quarter 2007

    International Nuclear Information System (INIS)

    2007-01-01

    Since July 1, 2004, all electricity and gas consumers can be eligible according to their consumption site, as long as all or part of the electricity or gas consumed is designed for non-residential use. The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web-site (www.cre.fr). It presents: The electricity market; The retail electricity market: Eligible customer segments and their respective weights, Status at April 1, 2007, Dynamic analysis: 1. Quarter 2007; The wholesale electricity market: Traded volumes on the French wholesale electricity market and comparison with European markets, Prices on the French wholesale electricity market and European comparison, Import and export volumes, Concentration of the French electricity market, Striking facts of the 1. 2007 quarter; The gas market; The retail gas market: The eligible customer segments and their respective weights, Status at April 1. 2007; The wholesale gas market: Gas pricing and gas markets in Europe,The wholesale market in France. Some glossaries are attached to the document: Electricity and gas market observatories combined glossary; Specific electricity market observatory glossary; Specific gas market observatory glossary

  19. Electricity and gas market observatory. 4. quarter 2006

    International Nuclear Information System (INIS)

    2007-01-01

    Since July 1, 2004, all electricity and gas consumers can be eligible according to their consumption site, as long as all or part of the electricity or gas consumed is designed for non-residential use. The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web-site (www.cre.fr). It presents: The electricity market; The retail electricity market: Eligible customer segments and their respective weights, Status at January 1, 2007, Dynamic analysis: 4. Quarter 2007; The wholesale electricity market: Traded volumes on the French wholesale electricity market and comparison with European markets, Prices on the French wholesale electricity market and European comparison, Import and export volumes, Concentration of the French electricity market, Striking facts of the 4. 2006 quarter; The gas market; The retail gas market: The eligible customer segments and their respective weights, Status at January 1. 2007; The wholesale gas market: Gas pricing and gas markets in Europe,The wholesale market in France. Some glossaries are attached to the document: Electricity and gas market observatories combined glossary; Specific electricity market observatory glossary; Specific gas market observatory glossary

  20. Electricity and gas market observatory. 1. quarter 2007

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2007-07-01

    Since July 1, 2004, all electricity and gas consumers can be eligible according to their consumption site, as long as all or part of the electricity or gas consumed is designed for non-residential use. The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web-site (www.cre.fr). It presents: The electricity market; The retail electricity market: Eligible customer segments and their respective weights, Status at April 1, 2007, Dynamic analysis: 1. Quarter 2007; The wholesale electricity market: Traded volumes on the French wholesale electricity market and comparison with European markets, Prices on the French wholesale electricity market and European comparison, Import and export volumes, Concentration of the French electricity market, Striking facts of the 1. 2007 quarter; The gas market; The retail gas market: The eligible customer segments and their respective weights, Status at April 1. 2007; The wholesale gas market: Gas pricing and gas markets in Europe,The wholesale market in France. Some glossaries are attached to the document: Electricity and gas market observatories combined glossary; Specific electricity market observatory glossary; Specific gas market observatory glossary.

  1. Electricity and gas market observatory. 4. quarter 2006

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2007-07-01

    Since July 1, 2004, all electricity and gas consumers can be eligible according to their consumption site, as long as all or part of the electricity or gas consumed is designed for non-residential use. The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web-site (www.cre.fr). It presents: The electricity market; The retail electricity market: Eligible customer segments and their respective weights, Status at January 1, 2007, Dynamic analysis: 4. Quarter 2007; The wholesale electricity market: Traded volumes on the French wholesale electricity market and comparison with European markets, Prices on the French wholesale electricity market and European comparison, Import and export volumes, Concentration of the French electricity market, Striking facts of the 4. 2006 quarter; The gas market; The retail gas market: The eligible customer segments and their respective weights, Status at January 1. 2007; The wholesale gas market: Gas pricing and gas markets in Europe,The wholesale market in France. Some glossaries are attached to the document: Electricity and gas market observatories combined glossary; Specific electricity market observatory glossary; Specific gas market observatory glossary.

  2. Independent regulatory authorities in European electricity market

    DEFF Research Database (Denmark)

    Olsen, Ole Jess; Larsen, Anders; Sørensen, Eva Moll

    2006-01-01

    Liberalisation of the electricity market has taken place in most European countries within the last decade. It is considered a precondition of successful liberalisation to establish so-called independent regulatory authorities. In this article, we compare the status and practice of them in 16...

  3. Electric vehicles: Market survey. Marktuebersicht Elektrofahrzeuge

    Energy Technology Data Exchange (ETDEWEB)

    Baur, A.

    1993-01-01

    In the context of this article a tabular list of electric vehicles is shown, which are licensed and available on the German market. This contains one- to two-seated light-weight vehicles with ordinary serial bodyworks as well as transporters and busses. (BWI)

  4. Market analysis green electricity. Final report

    International Nuclear Information System (INIS)

    Reichmuth, Matthias

    2014-01-01

    In the present study the volume of the German market for green energy will be analyzed for its functionality, barriers and also its development perspectives. Besides an evaluation of actual literature sources, elaborate interviews of electricity suppliers (green energy suppliers) were realized.

  5. Optimal DG placement in deregulated electricity market

    International Nuclear Information System (INIS)

    Gautam, Durga; Mithulananthan, Nadarajah

    2007-01-01

    This paper presents two new methodologies for optimal placement of distributed generation (DG) in an optimal power flow (OPF) based wholesale electricity market. DG is assumed to participate in real time wholesale electricity market. The problem of optimal placement, including size, is formulated for two different objectives, namely, social welfare maximization and profit maximization. The candidate locations for DG placement are identified on the basis of locational marginal price (LMP). Obtained as lagrangian multiplier associated with active power flow equation for each node, LMP gives the short run marginal cost (SRMC) of electricity. Consumer payment, evaluated as a product of LMP and load at each load bus, is proposed as another ranking to identify candidate nodes for DG placement. The proposed rankings bridges engineering aspects of system operation and economic aspects of market operation and act as good indicators for the placement of DG, especially in a market environment. In order to provide a scenario of variety of DGs available in the market, several cost characteristics are assumed. For each DG cost characteristic, an optimal placement and size is identified for each of the objectives. The proposed methodology is tested in a modified IEEE 14 bus test system. (author)

  6. Integration of the heat and refrigeration sector into the electricity market model PowerFlex for the analysis of sector encompasing effects on the climate protection goals and EE integration. Scientific final report - actualized version

    International Nuclear Information System (INIS)

    Koch, Matthias; Hesse, Tilman; Kenkmann, Tanja

    2017-01-01

    The report covers the following issues: (i) Detailed description of the heat sector and its coupling to the electricity sector within the electricity market model PowerFlex: provate heat demand, derivation of heat load profiles, development of a technology and energy carrier mix, data inputs for the electricity market regulation. (ii) Creation of an empirically based data basis for the air conditioning of building, its coupling to the electricity system and derivation of recommendations: preparation of a representative empirical determination of the status quo and the factors that provoke private households to install air conditions, effective parameters for the development of energy demand for air conditioning of residential homes, preparation of a data input for the electricity market model - methodology and results. (iii) Preparation of generic renewable energy supply time series with different levels of fluctuation: Methodology of the renewable energy profile calculation, calculation of the supply profile for photovoltaics, calculation of the supply profile for onshore wind and offshore wind. (iv) Extension of the electricity market model PowerFlex to PowerFlex-heat and cold for the sector encompassing scenario analysis: extension of the module to cogeneration power plants, power-to-heat and power-to-gas for the detailed description of the heat sector, extension of the module for load management, scenarios and interpretation of the results.

  7. Variational integrators for electric circuits

    International Nuclear Information System (INIS)

    Ober-Blöbaum, Sina; Tao, Molei; Cheng, Mulin; Owhadi, Houman; Marsden, Jerrold E.

    2013-01-01

    In this contribution, we develop a variational integrator for the simulation of (stochastic and multiscale) electric circuits. When considering the dynamics of an electric circuit, one is faced with three special situations: 1. The system involves external (control) forcing through external (controlled) voltage sources and resistors. 2. The system is constrained via the Kirchhoff current (KCL) and voltage laws (KVL). 3. The Lagrangian is degenerate. Based on a geometric setting, an appropriate variational formulation is presented to model the circuit from which the equations of motion are derived. A time-discrete variational formulation provides an iteration scheme for the simulation of the electric circuit. Dependent on the discretization, the intrinsic degeneracy of the system can be canceled for the discrete variational scheme. In this way, a variational integrator is constructed that gains several advantages compared to standard integration tools for circuits; in particular, a comparison to BDF methods (which are usually the method of choice for the simulation of electric circuits) shows that even for simple LCR circuits, a better energy behavior and frequency spectrum preservation can be observed using the developed variational integrator

  8. Impact of renewables on electricity markets – Do support schemes matter?

    International Nuclear Information System (INIS)

    Winkler, Jenny; Gaio, Alberto; Pfluger, Benjamin; Ragwitz, Mario

    2016-01-01

    Rising renewable shares influence electricity markets in several ways: among others, average market prices are reduced and price volatility increases. Therefore, the “missing money problem” in energy-only electricity markets is more likely to occur in systems with high renewable shares. Nevertheless, renewables are supported in many countries due to their expected benefits. The kind of support instrument can however influence the degree to which renewables influence the market. While fixed feed-in tariffs lead to higher market impacts, more market-oriented support schemes such as market premiums, quota systems and capacity-based payments decrease the extent to which markets are affected. This paper analyzes the market impacts of different support schemes. For this purpose, a new module is added to an existing bottom-up simulation model of the electricity market. In addition, different degrees of flexibility in the electricity system are considered. A case study for Germany is used to derive policy recommendations regarding the choice of support scheme. - Highlights: •Renewable support schemes matter regarding the impact on electricity markets. •Market-oriented support schemes reduce the impact on electricity markets. •More flexible electricity systems reduce the need for market participation. •Sliding premiums combine market integration with a productive risk allocation.

  9. Towards a regional electricity market in Southeast Europe

    International Nuclear Information System (INIS)

    Ichord, R.F. Jr.

    2002-01-01

    Historical evolution of the region's electric power policy is overviewed. The regional characteristics of Southern Europe's electric power market are summarized. The reform indicators of the region's electricity markets are discussed. The status of privatization is presented. Factors in developing regional electricity market are considered. (R.P.)

  10. Electricity market liberalisation - the German model

    International Nuclear Information System (INIS)

    Mueller, W.

    2002-01-01

    This article discusses the experience gained as a result of the opening of the German electricity market - not only from the national but also from European and international points of view. The history of electricity market liberalisation in Germany is described and the market's structure is compared with that of Switzerland. Both the advantages and disadvantages that have been brought about by liberalisation are discussed as well as the role of state regulation. Certain problem areas still to be tackled are discussed, such those in the areas of cartels, possibilities of supplier-change and tariffs. Also, liberalisation in the context of the European Union's efforts in this area are discussed, especially with respect to the consideration of differing structures in the various member countries of the Union

  11. Demand-controlling marketing of electric utilities

    Energy Technology Data Exchange (ETDEWEB)

    Raffee, H; Fritz, W

    1980-01-01

    In situations like the shortage of energy resources the particular autonomy of the users concerning energy demand raises more and more aggravating problems for the electric utilities (EU) and, last not least, for society (i.e. the peak-load problem, threatening bottlenecks in the supply situation). Thus the requirement for a demand-controlling marketing strategy of the EU with the help of which the individual demand should be influenced in the following manner is legitimate. The article discusses the targets, strategies, and instruments of marketing performed by the EU under the aspect of their efficiency concerning demand control. The discussion leads to e.g. the following results: that a marketing strategy for the sensible, responsible, and efficent use of energy, in the long-term, serves both the interests of the users and the interests of the EU; that such a marketing programme can have the required controlling effects especially with the help of strategies like market segmentation and cooperation. The discussion makes also clear that a demand-controlling marketing strategy of the EU can hardly be realized without a considerable change within the organization of the EU on one hand and, on the other, without expanding the marketing programme toward a marketing strategy of balance.

  12. A new index for electricity spot markets

    International Nuclear Information System (INIS)

    Falbo, Paolo; Fattore, Marco; Stefani, Silvana

    2010-01-01

    Different indexes are used in electricity markets worldwide to represent the daily behavior of spot prices. However, the peculiarities of these markets require a careful choice of the index, based on mathematical formulation and its statistical properties. Choosing a bad index may influence the financial policies of market players, since derivative pricing and hedging performance can be deeply affected. In this paper with an initial theoretical analysis, we intend to show that the most widely used indexes (simple arithmetic average and weighted average with current volumes) are poor representatives of the spot market. We will then perform an analysis of the hedging strategy on a derivative instrument (an Asian option) written on a reference index. The resulting simulations, applied to OMEL (Spain) and EEX (Germany), are sufficiently clear cut to suggest that the decision to adopt an index to represent properly a market must be taken very carefully. Finally we will propose a new index (FAST index) and, after comparing it with the previous indexes, will show that both theoretically and practically this index can be taken as a good electricity market synthetic indicator.

  13. Support Vector Machines for decision support in electricity markets׳ strategic bidding

    DEFF Research Database (Denmark)

    Pinto, Tiago; Sousa, Tiago M.; Praça, Isabel

    2015-01-01

    . The ALBidS system allows MASCEM market negotiating players to take the best possible advantages from the market context. This paper presents the application of a Support Vector Machines (SVM) based approach to provide decision support to electricity market players. This strategy is tested and validated...... by being included in ALBidS and then compared with the application of an Artificial Neural Network (ANN), originating promising results: an effective electricity market price forecast in a fast execution time. The proposed approach is tested and validated using real electricity markets data from MIBEL......׳ research group has developed a multi-agent system: Multi-Agent System for Competitive Electricity Markets (MASCEM), which simulates the electricity markets environment. MASCEM is integrated with Adaptive Learning Strategic Bidding System (ALBidS) that works as a decision support system for market players...

  14. Renewable energy promotion in competitive electricity markets

    International Nuclear Information System (INIS)

    Wohlgemuth, Norbert

    1999-01-01

    The opening of electricity markets to competition involves fundamental structural changes in the electricity supply industry. There is, however, doubt that the new industrial organisation will provide the right price signals that will ensure that renewable energy options will be adopted. Therefore, one of the numerous challenges in the energy industry restructuring process is to ensure that renewable energy has a fair opportunity to compete with other supply resources. This paper presents mechanisms to promote the use of renewable energy in competitive electricity markets. These mechanisms include the Non Fossil Fuel Obligation (NFFO), the Renewables Portfolio Standard (RPS) and the Systems Benefit Charge (SBC). The paper discusses merits and disadvantages of these mechanisms, given the experience made in the United States and the United Kingdom. (author)

  15. Nuclear power within liberalised electricity markets

    International Nuclear Information System (INIS)

    Kidd, Stephen W.

    2002-01-01

    Competition between various methods of generating electricity in liberalised markets means that all power plants must be cost-effective. The price of electricity from nuclear power includes all waste disposal and decommissioning costs, unlike other electricity generating technologies. Most existing nuclear power plants are likely to prosper under electricity liberalization. Many will receive operating life extensions and be able to compete in the electricity market for many years to come. Investment costs are particularly heavy for nuclear plants. Capital expenditure appraisal methodologies mean that such plants suffer financial disadvantages in times of high interest rates. Low and stable fuel costs are the prime advantage of nuclear plants against other sources of generating electricity. There will be significant demand for new generating capacity, both incremental and replacement, in the next 20 years. Under present conditions, where there is access to a stable and cheap supply of piped gas, nuclear and coal plants find it difficult to compete against gas-fired plants. The nuclear industry is addressing the need for new reactor designs, offering significant capital and operating cost reductions from the previous generation of reactors. This development and the need for carbon abatement on a worldwide basis offers nuclear plants a further economic advantage against alternative technologies. (author)

  16. Measuring the impact of market coupling on the Italian electricity market

    International Nuclear Information System (INIS)

    Pellini, Elisabetta

    2012-01-01

    This paper evaluates the impact on the Italian electricity market of replacing the current explicit auction mechanism with market coupling. Maximising the use of the cross-border interconnection capacity, market coupling increases the level of market integration and facilitates the access to low-cost generation by consumers located in high-cost generation countries. Thus, it is expected that a high-priced area such as Italy could greatly benefit from the introduction of this mechanism. In this paper, the welfare benefits are estimated for 2012 under alternative market scenarios, employing the optimal dispatch model ELFO++. The results of the simulations suggest that the improvement in social surplus is likely to be significant, especially when market fundamentals are tight. - Highlights: ► We study the impact on the Italian electricity market of introducing market coupling. ► We estimate welfare benefits under two market scenarios for 2012. ► Scenarios are simulated using the optimal dispatch model ELFO++. ► Welfare gains range between 33 M€/year and 741 M€/year.

  17. Electricity and gas market observatory 1. Quarter 2009

    International Nuclear Information System (INIS)

    2009-01-01

    The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web site (www.cre.fr). Since the 1. of July 2007, all customers can choose their gas and electricity suppliers. Content: A - The electricity market: The retail electricity market (Introduction, Customer segments and their respective weight, Status on March 31, 2009, Dynamic analysis: 1. Quarter 2009), The wholesale electricity market (Introduction, Wholesale market activity in France, Prices on the French wholesale market and European comparison, Import and export volumes, Concentration of the French electricity market). B - The gas market: The retail gas market (Introduction, Customer segments and their respective weight, Status on March 31. 2009, Dynamic analysis: 1. Quarter 2009), The wholesale gas market (Main steps in the French Wholesale gas market, Gas pricing and gas markets in Europe, The wholesale market in France, Prices on the French wholesale market and European comparison, Concentration of the French gas market) C - Appendices: Electricity and gas market observatories combined glossary, Specific electricity market observatory glossary, Specific gas market observatory glossary

  18. The surveillance of the electricity wholesale market and emission trading market

    International Nuclear Information System (INIS)

    Luedemann, Volker

    2015-01-01

    The Regulation on Wholesale Market Integrity and Transparency (REMIT) and the German Law on the Establishment of a Market Transparency Office for Wholesale Trade in Electricity and Gas (MTS-G) have fundamentally changed the surveillance of electricity wholesale trade in Germany. From now on the Federal Network Agency and the Federal Cartel Office will be jointly responsible for monitoring the electricity wholesale trade for suspicious market phenomena and abusive behaviour. The REMIT specifies that the electricity trade must be surveilled ''with due consideration to interactions'' with the emission trade system. However, occurrences observed in recent years have shown that the emission trading system is in need of reform. This has also been recognised and has prompted extensive corrective action by the regulatory authorities of the European Union. These changes have yet to be transposed into the national surveillance regimes. The present article explains why the new role accorded to the Federal Network Agency under the REMIT fails to eliminate the structural shortcomings of the old surveillance system. At least the decision to put the collection and evaluation of data exclusively in the hands of the market transparency office and the cooperation this will prompt between the supervisory authorities responsible will make the task of surveilling the energy wholesale trading market a lot easier for the authorities. The energy transition and its exigencies will yet lead to further changes in the market and its surveillance regime.

  19. Time Varying Market Integration and Expected Rteurns in Emerging Markets

    OpenAIRE

    Jong, F.C.J.M. de; Roon, F.A. de

    2001-01-01

    We use a simple model in which the expected returns in emerging markets depend on their systematic risk as measured by their beta relative to the world portfolio as well as on the level of integration in that market.The level of integration is a time-varying variable that depends on the market value of the assets that can be held by domestic investors only versus the market value of the assets that can be traded freely.Our empirical analysis for 30 emerging markets shows that there are strong...

  20. Essays on competition in electricity markets

    Science.gov (United States)

    Bustos Salvagno, Ricardo Javier

    The first chapter shows how technology decisions affect entry in commodity markets with oligopolistic competition, like the electricity market. I demonstrate an entry deterrence effect that works through cost uncertainty. Technology's cost uncertainty affects spot market expected profits through forward market trades. Therefore, incentives to engage in forward trading shape firms' decisions on production technologies. I show that high-cost but low-risk technologies are adopted by risk-averse incumbents to deter entry. Strategic technology adoption can end in a equilibrium where high-cost technologies prevail over low-cost but riskier ones. In the case of incumbents who are less risk-averse than entrants, entry deterrence is achieved by choosing riskier technologies. The main results do not depend on who chooses their technology first. Chapter two examines the Chilean experience on auctions for long-term supply contracts in electricity markets from 2006 to 2011. Using a divisible-good auction model, I provide a theoretical framework that explains bidding behavior in terms of expected spot prices and contracting positions. The model is extended to include potential strategic behavior on contracting decisions. Empirical estimations confirm the main determinants of bidding behavior and show heterogeneity in the marginal cost of over-contracting depending on size and incumbency. Chapter three analyzes the lag in capacity expansion in the Chilean electricity market from 2000 to 2004. Regarded as a result of regulatory uncertainty, the role of delays in the construction of a large hydro-power plant has been overlooked by the literature. We argue that those delays postponed projected investment and gave small windows of opportunity that only incumbents could take advantage of. We are able to retrace the history of investments through real-time information from the regulator's reports and a simple model enables us to explain the effect of those delays on suggested and under

  1. On the evaluation of market power and market dominance-The Nordic electricity market

    International Nuclear Information System (INIS)

    Hellmer, Stefan; Warell, Linda

    2009-01-01

    This paper studies different concentration and dominance measures using structural indexes used to initially screen the competitive situation in a market. The Nordic and Swedish electricity markets are used as the empirical cases. Market concentration issues in the Nordic electricity market in general and in Sweden in particular have been, at least in initial screenings, approached by the Herfindahl-Hirschman Index (HHI). This article uses an alternative measure to HHI, which is based on market shares of the two largest firms in the market. The results shows that only the Swedish wholesale market has a firm that can be regarded as dominant, but only during very short periods. The results from a hypothetical merger between the second and third largest company in the Swedish wholesale market shows that when the dominant position of the largest firm is reduced, by increasing the size of the second largest firm, the threshold value indicates that competition actually will increase (contradicting to the HHI).

  2. Electricity and gas market observatory. 4. Quarter 2008

    International Nuclear Information System (INIS)

    2008-01-01

    The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web site (www.cre.fr). Since the 1 of July 2007, all customers can choose their gas and electricity suppliers. Content: A - The electricity market: The retail electricity market (Introduction, Customer segments and their respective weight, Status on December 31, 2008, Dynamic analysis: 4. Quarter 2008); The wholesale electricity market (Introduction, Wholesale market activity in France, Prices on the French wholesale market and European comparison, Import and export volumes, Concentration of the French electricity market); B - The gas market: The retail gas market (Introduction, Customer segments and their respective weight, Status on December 31, 2008, Dynamic analysis: 4. Quarter 2008); The wholesale gas market (Gas pricing and gas markets in Europe, The wholesale market in France, Prices on the French wholesale market and European comparison, Concentration of the French gas market); C - Appendices: Electricity and gas market observatories combined glossary, Specific electricity market observatory glossary, Specific gas market observatory glossary

  3. Modelling electricity forward markets by ambit fields

    DEFF Research Database (Denmark)

    Barndorff-Nielsen, Ole; Fred Espen Benth, Fred Espen; Veraart, Almut

    This paper proposes a new modelling framework for electricity forward markets, which is based on ambit fields. The new model can capture many of the stylised facts observed in energy markets. One of the main differences to the traditional models lies in the fact that we do not model the dynamics......, but the forward price directly, where we focus on models which are stationary in time. We give a detailed account on the probabilistic properties of the new model and we discuss martingale conditions and change of measure within the new model class. Also, we derive a model for the spot price which is obtained...

  4. Risk-minimisation in electricity markets

    DEFF Research Database (Denmark)

    Tegner, Martin; Ernstsen, Rune Ramsdal; Skajaa, Anders

    2017-01-01

    This paper analyses risk management of fixed price, unspecified consumption contracts in energy markets. We model the joint dynamics of the spot-price and the consumption of electricity, study expected loss minimisation for different loss measures, and derive optimal static hedge strategies based...... on forward contracts. The strategies are implemented empirically and compared to a benchmark strategy widely used by the industry. On 2012–2014 Nordic market data, the suggested hedges significantly outperform the benchmark: The realised cumulative profit-and-losses are greater for almost every single one...

  5. Constructing forward price curves in electricity markets

    DEFF Research Database (Denmark)

    Fleten, S.-E.; Lemming, Jørgen Kjærgaard

    2003-01-01

    We present and analyze a method for constructing approximated high-resolution forward price curves in electricity markets. Because a limited number of forward or futures contracts are traded in the market, only a limited picture of the theoretical continuous forward price curve is available...... to the analyst. Our method combines the information contained in observed bid and ask prices with information from the forecasts generated by bottom-up models. As an example, we use information concerning the shape of the seasonal variation from a bottom-up model to improve the forward price curve quoted...

  6. Constructing forward price curves in electricity markets

    International Nuclear Information System (INIS)

    Fleten, Stein-Erik; Lemming, Jacob

    2003-01-01

    We present and analyze a method for constructing approximated high-resolution forward price curves in electricity markets. Because a limited number of forward or futures contracts are traded in the market, only a limited picture of the theoretical continuous forward price curve is available to the analyst. Our method combines the information contained in observed bid and ask prices with information from the forecasts generated by bottom-up models. As an example, we use information concerning the shape of the seasonal variation from a bottom-up model to improve the forward price curve quoted on the Nordic power exchange

  7. Managing congestion and intermittent renewable generation in liberalized electricity markets

    Energy Technology Data Exchange (ETDEWEB)

    Kunz, Friedrich

    2013-02-27

    This dissertation focuses on selected aspects of network congestion arising in liberalized electricity markets and their management methods with a special weight placed on the integration of increased renewable generation in Europe and Germany. In a first step, the theoretical concepts of congestion management are introduced complemented by a review of current management regimes in selected countries. In the second step, the European approach of managing congestion on international as well as national transmission links is analyzed and the benefits of an integrated congestion management regime are quantified. It is concluded that benefits can be achieved by a closer cooperation of national transmission system operators (TSOs). Thirdly, the German congestion management regime is investigated and the impact of higher renewable generation up to 2020 on congestion management cost is determined. It is shown that a homogeneous and jointly development of generation and transmission infrastructure is a prerequisite for the application of congestion alleviation methods and once they diverge congestion management cost tend to increase substantially. Lastly, the impact of intermittent and uncertain wind generation on electricity markets is analyzed. A stochastic electricity market model is described, which replicates the daily subsequent clearing of reserve, day ahead, and intraday market typical for European countries, and numerical results are presented.

  8. Electricity market pricing, risk hedging and modeling

    Science.gov (United States)

    Cheng, Xu

    In this dissertation, we investigate the pricing, price risk hedging/arbitrage, and simplified system modeling for a centralized LMP-based electricity market. In an LMP-based market model, the full AC power flow model and the DC power flow model are most widely used to represent the transmission system. We investigate the differences of dispatching results, congestion pattern, and LMPs for the two power flow models. An appropriate LMP decomposition scheme to quantify the marginal costs of the congestion and real power losses is critical for the implementation of financial risk hedging markets. However, the traditional LMP decomposition heavily depends on the slack bus selection. In this dissertation we propose a slack-independent scheme to break LMP down into energy, congestion, and marginal loss components by analyzing the actual marginal cost of each bus at the optimal solution point. The physical and economic meanings of the marginal effect at each bus provide accurate price information for both congestion and losses, and thus the slack-dependency of the traditional scheme is eliminated. With electricity priced at the margin instead of the average value, the market operator typically collects more revenue from power sellers than that paid to power buyers. According to the LMP decomposition results, the revenue surplus is then divided into two parts: congestion charge surplus and marginal loss revenue surplus. We apply the LMP decomposition results to the financial tools, such as financial transmission right (FTR) and loss hedging right (LHR), which have been introduced to hedge against price risks associated to congestion and losses, to construct a full price risk hedging portfolio. The two-settlement market structure and the introduction of financial tools inevitably create market manipulation opportunities. We investigate several possible market manipulation behaviors by virtual bidding and propose a market monitor approach to identify and quantify such

  9. System and market integration of wind power in Denmark

    DEFF Research Database (Denmark)

    Lund, Henrik; Hvelplund, Frede; Alberg Østergaard, Poul

    2013-01-01

    Denmark has more than 10 years’ of experience with a wind share of approximately 20 per cent. During these 10 years, electricity markets have been subject to developments with a key focus on integrating wind power as well as trading electricity with neighbouring countries. This article introduces...... a methodology to analyse and understand the current market integration of wind power and concludes that the majority of Danish wind power in the period 2004e2008 was used to meet the domestic demand. Based on a physical analysis, at least 63 per cent of Danish wind power was used domestically in 2008....... To analyse the remaining 37 per cent, we must apply a market model to identify cause-effect relationships. The Danish case does not illustrate any upper limit for wind power integration, as also illustrated by Danish political targets to integrate 50 per cent by 2020. In recent years, Danish wind power has...

  10. 2008 Annual Report of SGCC on Electricity Market Transactions

    Institute of Scientific and Technical Information of China (English)

    2009-01-01

    On April 14,2009,the State Grid Corporation of China (SGCC) held the press conference in Beijing on electricity market transactions and then released the "2008 Annual Report of SGCC on Electricity Market Transactions".

  11. Capacity choices in liberalised electricity markets

    International Nuclear Information System (INIS)

    Castro-Rodriguez, Fidel; Marin, Pedro L.; Siotis, Georges

    2009-01-01

    This paper addresses the issue of investment in electricity generation in the context of a liberalised market. We use the main results derived from a theoretical model where firms invest strategically to simulate the Spanish electricity system with real-world data. Our results indicate that, under reasonable parameter constellations regarding the number of agents, the level of capacity resulting from private decisions falls well short of the social optimum. Last, we show that two regulatory mechanisms that have been used to generate additional incentives for private agents to install capacity (capacity payment and price-adder) are ineffective and/or prohibitively costly.

  12. Electricity market liberalisation: a difficult undertaking

    International Nuclear Information System (INIS)

    Graber, W.

    2001-01-01

    This article describes the options available for the implementation of discrimination-free cost allocation for the transport of energy in a liberalised Swiss electricity market. The advantages and disadvantages of two models - the distance-dependent 'path' model and the connection-point model - are discussed. Experience already gained in Germany, England, Finland, Sweden, Norway and Austria is discussed. The structure of the Swiss electricity grid with its seven tiers is looked at. The methods of splitting the transport costs between producers and consumers and also between the various layers of the grid are examined and functions for the matching of load and production are discussed

  13. The Greek Electricity Market Reforms: Political and Regulatory Considerations

    International Nuclear Information System (INIS)

    Danias, Nikolaos; Kim Swales, John; McGregor, Peter

    2013-01-01

    The paper tracks the evolution of the Greek electricity market since the beginning of the liberalization process. Its progress is benchmarked against the criteria suggested by Littlechild (2006b). The Littlechild framework highlights key remaining deficiencies in the stances and policies adopted which need to be resolved in order for liberalization to proceed successfully. The focus is on the agendas of the Greek government, other domestic political forces and the European Union. A central requirement is the clear commitment to liberalization by the Greek government. In particular the government needs to give up political control over the previous vertically integrated, state-controlled electricity firm, Public Power Company (PPC), and allow more decision making powers and genuine independence to the market regulator. Liberalization is rendered more difficult by the present financial and economic crisis in Greece. - Highlights: • Greek electricity market liberalization is benchmarked against the Littlechild standard electricity market reform model. • Although the majority of the model requirements are met, liberalization in Greece is only partially successful. • Some elements of liberalization are qualitatively more significant than others. • More fundamental political economy issues need to be addressed in order for the liberalization to progress. • Financial crisis in Greece adds extra challenges

  14. Electricity and gas market observatory. 2. quarter 2007

    International Nuclear Information System (INIS)

    2007-01-01

    Since July 1, 2004, all electricity and gas consumers can be eligible according to their consumption site, as long as all or part of the electricity or gas consumed is designed for non-residential use. The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web-site (www.cre.fr). It presents: The electricity market; The retail electricity market: Non-residential customer segments and their respective weights, Status at July 1, 2007, Dynamic analysis: 2. Quarter 2007; The wholesale electricity market: Wholesale market activity in France, Prices on the French wholesale market and European comparison, Import and export volumes, Concentration of the French electricity market, Striking facts of the second quarter 2007; The gas market; The retail gas market: The non-residential customer segments and their respective weights, Status at July 1. 2007; The wholesale gas market: Gas pricing and gas markets in Europe,The wholesale market in France. Some glossaries are attached to the document: Electricity and gas market observatories combined glossary; Specific electricity market observatory glossary; Specific gas market observatory glossary

  15. Electricity and gas market observatory. 2. quarter 2007

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2007-07-01

    Since July 1, 2004, all electricity and gas consumers can be eligible according to their consumption site, as long as all or part of the electricity or gas consumed is designed for non-residential use. The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web-site (www.cre.fr). It presents: The electricity market; The retail electricity market: Non-residential customer segments and their respective weights, Status at July 1, 2007, Dynamic analysis: 2. Quarter 2007; The wholesale electricity market: Wholesale market activity in France, Prices on the French wholesale market and European comparison, Import and export volumes, Concentration of the French electricity market, Striking facts of the second quarter 2007; The gas market; The retail gas market: The non-residential customer segments and their respective weights, Status at July 1. 2007; The wholesale gas market: Gas pricing and gas markets in Europe,The wholesale market in France. Some glossaries are attached to the document: Electricity and gas market observatories combined glossary; Specific electricity market observatory glossary; Specific gas market observatory glossary.

  16. Accelerating residential PV expansion: demand analysis for competitive electricity markets

    International Nuclear Information System (INIS)

    Duke, Richard; Williams, Robert; Payne, Adam

    2005-01-01

    This article quantifies the potential market for grid-connected, residential photovoltaic (PV) electricity integrated into new homes built in the US. It complements an earlier supply-side analysis by the authors that demonstrates the potential to reduce PV module prices below $1.5/W p by scaling up existing thin-film technology in 100 MW p /yr manufacturing facilities. The present article demonstrates that, at that price, PV modules may be cost effective in 125,000 new home installations per year (0.5 GW p /yr). While this market is large enough to support multiple scaled up thin-film PV factories, inefficient energy pricing and demand-side market failures will inhibit prospective PV consumers without strong public policy support. Net metering rules, already implemented in many states to encourage PV market launch, represent a crude but reasonable surrogate for efficient electricity pricing mechanisms that may ultimately emerge to internalize the externality benefits of PV. These public benefits include reduced air pollution damages (estimated costs of damage to human health from fossil fuel power plants are presented in Appendix A), deferral of transmission and distribution capital expenditures, reduced exposure to fossil fuel price risks, and increased electricity system reliability for end users. Thus, net metering for PV ought to be implemented as broadly as possible and sustained until efficient pricing is in place. Complementary PV 'buydowns' (e.g., a renewable portfolio standard with a specific PV requirement) are needed to jumpstart regional PV markets

  17. Spanish and Portuguese electric market in the context of UE

    International Nuclear Information System (INIS)

    Quinto, J. de; Villafruela, L.

    2007-01-01

    In accordance to the Unique Act and other EU legislation related to the achievement of a single market for goods and services, the EU Commission has promoted a whole internal electricity and gas market. Due to the specific difficulties to reach this objective in the electricity and gas case, the EU strategy changed into a progressive step process, in which the final objective should be reached by the progressive integration of different neighbour national markets. Anyway, this is not easy because there are differences related to national interests and because the harmonization of different regulations is so complex. The creation of a supranational electricity market in the Iberian mainland (MIBEL) can be considered as a piece of this European strategy and a way to improve competition both in Spain and Portugal at least by an increase of the market geographical scale.MIBEL process started in November 2001, but finally is working since July 2006. But the process is not finish yet: it is still necessary to develop some relevant regulatory aspects. (Author) 15 refs

  18. Electricity and gas market observatory. 3. Quarter 2007

    International Nuclear Information System (INIS)

    2007-01-01

    The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web site (www.cre.fr). Since the 1 of July 2007, all customers can choose their gas and electricity suppliers. The present observatory is including residential customer's statistics. Content: A - The electricity market: The retail electricity market (Introduction, Customer segments and their respective weight, Status at September 30, 2007, Dynamic analysis: 3. Quarter 2007); The wholesale electricity market (Introduction, Wholesale market activity in France, Wholesale market activity in France, Prices on the French wholesale market and European comparison, Import and export volumes, Concentration of the French electricity market); B - The gas market: The retail gas market (Introduction, Customer segments and their respective weight, Status on September 30, 2007, Dynamic analysis: 3. Quarter 2007); The wholesale gas market (Gas pricing and gas markets in Europe, The wholesale market in France); C - Appendices: Electricity and gas market observatories combined glossary, Specific electricity market observatory glossary, Specific gas market observatory glossary

  19. Flexibility-enabling Contracts in Electricity Markets

    DEFF Research Database (Denmark)

    Boscan, Luis; Poudineh, Rahmatallah

    As the share of intermittent renewable energy increases in the generation mix, power systems are exposed to greater levels of uncertainty and risk, which requires planners, policy and business decision makers to incentivise flexibility, that is: their adaptability to unforeseen variations....... Additionally, along with traditional sources, which already enable flexibility, a number of business models, such as thermostat-based demand response, aggregators and small storage providers, are emerging in electricity markets and expected to constitute important sources of flexibility in future decentralised...... power systems. However, due to presence of high transaction costs, relative to the size of resource, the emerging small resources cannot directly participate in an organised electricity market and/or compete. This paper asks the fundamental question of how should the provision of flexibility, as a multi...

  20. Short run pricing in competitive electricity markets

    International Nuclear Information System (INIS)

    Ring, B. J.; Read, E. G.

    1996-01-01

    In response to the need for more responsive, competitive and decentralized pricing strategies forced upon the industry by deregulation, this study reviewed the type of electricity pricing required to coordinate a competitive wholesale electricity market over time periods typically of the order of one hour. It was found that nodal spot pricing can provide a straight-forward mechanism for providing the correct signals to market participants, while reflecting the costs and complexities of transmission network operation. Provided that all binding constraints are represented in the pricing model, and assuming that they are used in conjunction with long term contracts and capacity rights, such pricing can potentially deliver most of the benefits promised by perfect coordination, while allowing competition to flourish. 4 refs

  1. Insuring unit failures in electricity markets

    International Nuclear Information System (INIS)

    Pineda, S.; Conejo, A.J.; Carrion, M.

    2010-01-01

    An electric energy producer participates in futures markets in the hope of hedging the risk of trading in the pool. However, this producer is required to supply the energy associated with all its signed forward contracts even if some of its units are forced out due to unexpected failures. In this case, the producer must purchase some of the energy needed to meet its futures market commitments in the pool, which may result in high losses if the pool prices happen to be higher than the forward contract prices. To mitigate these losses, the producer can take out insurance against the forced outages of its units. Using a stochastic programming model, this paper analyzes the convenience of signing an insurance against unit failure by an electric energy producer and its impact on forward contracting decisions. Results from a realistic case study are provided and analyzed.

  2. Applying mathematical finance tools to the competitive Nordic electricity market

    OpenAIRE

    Vehviläinen, Iivo

    2004-01-01

    This thesis models competitive electricity markets using the methods of mathematical finance. Fundamental problems of finance are market price modelling, derivative pricing, and optimal portfolio selection. The same questions arise in competitive electricity markets. The thesis presents an electricity spot price model based on the fundamental stochastic factors that affect electricity prices. The resulting price model has sound economic foundations, is able to explain spot market price mo...

  3. Demand Response Within Current Electricity Wholesale Market Design

    OpenAIRE

    Ramos Gutierrez, Ariana Isabel; De Jonghe, Cedric; Six, Daan; Belmans, Ronnie

    2013-01-01

    The introduction of intermittent energy resources calls for the ability to modulate consumption patterns according to electricity availability. This paper provides a brief overview of the main electricity market design characteristics and places demand response within the framework of the existing timeline of market operation. The main differences between electricity markets lie in the price formation mechanisms where some markets pay-as- cleared and some pay- as- bid for the electricity tran...

  4. Electricity markets. Investment, performance and analysis

    International Nuclear Information System (INIS)

    Murray, B.

    1998-01-01

    The impact of deregulation on the theory and practice of investment appraisal is addressed in this comprehensive treatment of the restructuring of the electricity supply industry. Demonstrating that the classical approach to generation investment appraisal is no longer valid, a new approach is developed using three economic models to represent differing market conditions. Highlighting the impact on the organisation of the utilities and their suppliers, this book offers essential advice for survival in the deregulated environment worldwide. (author)

  5. Product Market Integration, Comparative Advantages and Labour Market Performance

    DEFF Research Database (Denmark)

    Andersen, Torben M.; Rose Skaksen, Jan

    2003-01-01

    Product Market Integration, Comparative Advantages andLabour Market Performance@*In a two-country model with trade driven by comparative advantages, it is considered howimperfectly competitive labour markets are affected by lower frictions in international goodstrade. Easier goods trading...... is equivalent to increased mobility of employment acrosscountries and thus a change in the trade-off between wages and employment faced by wagesetters. While the effects of product market integration on the trade-off between wages andemployment in general is ambiguous, it is shown that product market...... integration works like ageneral improvement in productivity via the specialization it allows through trade.Unambiguously, real wages and employment and welfare improve upon reductions in tradefrictions, and therefore workers are better off irrespective of whether the market power ofunions is enhanced or muted...

  6. Assessing the options for a competitive electricity market in Israel

    International Nuclear Information System (INIS)

    Tishler, A.; Newman, J.; Spekterman, I.; Woo, C.K.

    2008-01-01

    In July 2006, the Israeli government affirmed its 2003 decision to reform the Israeli electricity industry, currently dominated by the Israel Electric Corporation (IEC), a government-owned vertically integrated electric utility. The reform calls for the deregulation and privatization of the generation and customer service segments of the industry, leaving transmission and distribution (T and D) regulated to provide open access to all end-users. This paper projects the performance of the post-reform market structure for the period 2007-2030 relative to that of the status quo. The post-reform generation market's prices are determined according to the Cournot conjecture. To mitigate excessive price volatility and surges, the generation market also includes a firm that is contracted to make peak electricity sales to customers at a pre-determined price, only when the competitive price exceeds the pre-determined level. Our results show (a) the post-reform retail prices for end-users will exceed those under the status quo; (b) the post-reform profits may not be sufficient to keep firms operating combined cycle generation units financially viable; and (c) the net benefit from deregulating the electricity sector in Israel will most likely be negative. (author)

  7. The creation of a global electricity market

    International Nuclear Information System (INIS)

    DePinto, D.; Anderson, A.

    1998-01-01

    The global embrace of market-based economics has led to significant growth and prosperity resulting in increased needs for electricity. The burgeoning demand for energy has created requirements for capital investment at time when the state-owned energy companies cannot provide it. Governments, busy trying to find ways to manage already inflated debt burdens, have little capacity for funding the capital needed to expand energy production. In these strategic industries, governments are beginning to embrace the principles of free market capitalism and private ownership, recognizing the significant benefits to be realized: reduced national deficits, a more efficient energy sector, access to foreign capital, greater internal capital generation, and more energy to fuel economic growth. This is driving the governments to embrace privatization and is creating a market for the sale of electric utilities. On the other side of this equation are the fast developing global electric companies that are prepared to expand in both developing and developed countries through significant acquisitions of either companies or strategic assets. This scenario is further enhanced as the Independent Power Developers chase projects from Brazil to China and bring competition to the development of new generation. Never before has there been such a movement to the complete transformation of the energy industry. Countries on every continent are exploring how they can reform and restructure the energy sector. The analysis will address: Global transformation sweeping the various regions of the world; Impact on developers and the strategy required for success; Global electric companies and their impact on the transformation process; and Future of the electric power industry: Will it bring the world closer together?

  8. Electricity market competition and nuclear power

    International Nuclear Information System (INIS)

    Varley, C.; Paffenbarger, J.

    1999-01-01

    Throughout the world, the Organization for Economic Cooperation and Development (OECD) member countries' governments are promoting competitive electricity markets. In particular, there is a move away from administrative price-setting by government institutions to market price-setting through the introduction of competition. Today this is often focused on competition in generation. However, competition among final electricity suppliers and distributors to provide effective consumer choice is a further step that governments are likely to pursue as experience with market reform grows. This competitive environment will undoubtedly impact upon the nuclear generation industry. Competition will provide an opportunity to reinvigorate nuclear power; it will improve the transparency of energy policy-making and the policy framework for nuclear power; it will spur innovation in existing plants and help prospects for new plant build; and provide a strong impetus for cost reduction and innovation. This paper discusses these issues in detail. It looks at the potential benefits and challenges to the nuclear generation industry arising from an increasingly competitive market. (author)

  9. Bulgarian electricity market and the large-scale industrial customers

    International Nuclear Information System (INIS)

    Popov, P.; Kanev, K.; Dyankov, M.; Minkov, N.

    2003-01-01

    The paper focuses on a brief overview of the Bulgarian Electricity Market Design and steps toward its development, as well as on preliminary analyses for market opening and influence of large industrial customers to system and market operation. (author)

  10. Integration of the North American energy market

    International Nuclear Information System (INIS)

    Lapointe, A.

    2002-07-01

    The US energy policy of President Bush administration proposes to develop a North American energy framework with a greater energy integration between Canada, the USA and Mexico in the respect of the sovereignty of each country. This article tries to evaluate the integration status of the energy sector in Northern America with respect to the North American free-exchange agreement and to the deregulation process observed in the natural gas and electric power sectors. The commercial energy fluxes between Canada, Mexico and the US show that the integration is a reality and that it is in constant progress. This integration is particularly important in the case of Canada and the USA while major constraints remain in Mexico where the property and exploitation of natural resources is a government monopoly. For this reason, Mexico could never exploit the full potentialities of its resources and suffers from a chronical under-investment in its energy infrastructures which limits the energy trade. Despite this, there is a strong will from the Mexican authorities to ensure the modernization of its energy sector and to contribute more to the integration process of the north American energy market. A series of reforms, and in particular the fiscal reform started by the government should reduce the excessive dependence of the government incomes with the dividends from the energy sector. This should allow the different government companies to reinvest more its benefits in order to improve the existing infrastructures and to increase the capacities (in particular in the gas and electricity sectors). Finally, the recent will of the government to open the gas sector should allow the development of this energy source. (J.S.)

  11. Electricity Prices, Large-Scale Renewable Integration, and Policy Implications

    OpenAIRE

    Kyritsis, Evangelos; Andersson, Jonas; Serletis, Apostolos

    2016-01-01

    This paper investigates the effects of intermittent solar and wind power generation on electricity price formation in Germany. We use daily data from 2010 to 2015, a period with profound modifications in the German electricity market, the most notable being the rapid integration of photovoltaic and wind power sources, as well as the phasing out of nuclear energy. In the context of a GARCH-in-Mean model, we show that both solar and wind power Granger cause electricity prices, that solar power ...

  12. Reforming European electricity industries: to each, his own ''single market''

    International Nuclear Information System (INIS)

    Glachant, J.M.

    2000-01-01

    National transpositions of the European directive on domestic electricity markets have maintained a degree of diversity; and this also characterizes the other conditions for accessing national electricity markets (physical, commercial, industrial and capital access). As a look at the prices of electricity shows, these national markets do not operate in a single way Europe-wide. Furthermore, electricity companies - key actors in this competition - differ widely from each other in size, electrical potential, investment portfolios and strategies for growth. (authors)

  13. Electricity and gas market observatory. 2. Quarter 2008

    International Nuclear Information System (INIS)

    2008-01-01

    The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web site (www.cre.fr). Since the 1 of July 2007, all customers can choose their gas and electricity suppliers. Content: A - The electricity market: The retail electricity market (Introduction, Customer segments and their respective weight, Status at June 30, 2008, Dynamic analysis: 2. Quarter 2008); The wholesale electricity market (Introduction, Wholesale market activity in France, Prices on the French wholesale market and European comparison, Import and export volumes, Concentration of the French electricity market); B - The gas market: The retail gas market (Introduction, Customer segments and their respective weight, Status on June 30, 2008, Dynamic analysis: 2. Quarter 2008); The wholesale gas market (Gas pricing and gas markets in Europe, The wholesale market in France); C - Appendices: Electricity and gas market observatories combined glossary, Specific electricity market observatory glossary, Specific gas market observatory glossary

  14. Electricity and gas market observatory. 1. Quarter 2008

    International Nuclear Information System (INIS)

    2008-01-01

    The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web site (www.cre.fr). Since the 1. of July 2007, all customers can choose their gas and electricity suppliers. Content: A - The electricity market: The retail electricity market (Introduction, Customer segments and their respective weight, Status at March 31, 2007, Dynamic analysis: 1. Quarter 2008); The wholesale electricity market (Introduction, Wholesale market activity in France, Prices on the French wholesale market and European comparison, Import and export volumes, Concentration of the French electricity market); B - The gas market: The retail gas market (Introduction, Customer segments and their respective weight, Status on March 31, 2008, Dynamic analysis: 1. Quarter 2008); The wholesale gas market (Gas pricing and gas markets in Europe, The wholesale market in France, Striking fact of the first quarter 2008); C - Appendices: Electricity and gas market observatories combined glossary, Specific electricity market observatory glossary, Specific gas market observatory glossary

  15. Electricity and gas market observatory. 4. Quarter 2007

    International Nuclear Information System (INIS)

    2007-01-01

    The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web site (www.cre.fr). Since the 1. of July 2007, all customers can choose their gas and electricity suppliers. Content: A - The electricity market: The retail electricity market (Introduction, Customer segments and their respective weight, Status at December 31, 2007, Dynamic analysis: 4. Quarter 2007); The wholesale electricity market (Introduction, Wholesale market activity in France, Prices on the French wholesale market and European comparison, Import and export volumes, Concentration of the French electricity market, Striking fact of the fourth quarter 2007); B - The gas market: The retail gas market (Introduction, Customer segments and their respective weight, Status on December 31. 2007, Dynamic analysis: 4. Quarter 2007); The wholesale gas market (Gas pricing and gas markets in Europe, The wholesale market in France, Striking fact of the fourth quarter 2007); C - Appendices: Electricity and gas market observatories combined glossary, Specific electricity market observatory glossary, Specific gas market observatory glossary

  16. The Effect of Divestitures in the German Electricity Market

    NARCIS (Netherlands)

    Weigt, H.; Willems, Bert

    2011-01-01

    In the most liberalized electricity markets, abuse of market power is a concern related to oligopolistic market structures, flaws in market architecture, and the specific characteristics of electricity generation and demand. Several methods have been suggested to improve the competitiveness of the

  17. The Effect of Divestitures in the German Electricity Market

    NARCIS (Netherlands)

    Weigt, H.; Willems, Bert

    2011-01-01

    In most liberalized electricity markets, abuse of market power is a concern related to oligopolistic market structures, flaws in market architecture, and the specific characteristics of electricity generation and demand. Several methods have been suggested to improve the competitiveness of the

  18. Integrated marketing communications at solar energy equipment market

    OpenAIRE

    I.L. Litovchenko; I.A. Shkurupskaya

    2013-01-01

    The aim of the article. The article is devoted to the development of the concept of «integrated marketing communications», as well as its adaptation to a specific market of solar energy equipment. The theoretical development of foreign and domestic scholars in the field of IMC is considered. The aim of the article is to define the concept of «integrated marketing communications» and use them in the market of solar еnergy equipment in an information economy. The author's definition of the c...

  19. Modeling spot markets for electricity and pricing electricity derivatives

    Science.gov (United States)

    Ning, Yumei

    Spot prices for electricity have been very volatile with dramatic price spikes occurring in restructured market. The task of forecasting electricity prices and managing price risk presents a new challenge for market players. The objectives of this dissertation are: (1) to develop a stochastic model of price behavior and predict price spikes; (2) to examine the effect of weather forecasts on forecasted prices; (3) to price electricity options and value generation capacity. The volatile behavior of prices can be represented by a stochastic regime-switching model. In the model, the means of the high-price and low-price regimes and the probabilities of switching from one regime to the other are specified as functions of daily peak load. The probability of switching to the high-price regime is positively related to load, but is still not high enough at the highest loads to predict price spikes accurately. An application of this model shows how the structure of the Pennsylvania-New Jersey-Maryland market changed when market-based offers were allowed, resulting in higher price spikes. An ARIMA model including temperature, seasonal, and weekly effects is estimated to forecast daily peak load. Forecasts of load under different assumptions about weather patterns are used to predict changes of price behavior given the regime-switching model of prices. Results show that the range of temperature forecasts from a normal summer to an extremely warm summer cause relatively small increases in temperature (+1.5%) and load (+3.0%). In contrast, the increases in prices are large (+20%). The conclusion is that the seasonal outlook forecasts provided by NOAA are potentially valuable for predicting prices in electricity markets. The traditional option models, based on Geometric Brownian Motion are not appropriate for electricity prices. An option model using the regime-switching framework is developed to value a European call option. The model includes volatility risk and allows changes

  20. Electricity and gas market observatory. 2. Quarter 2007

    International Nuclear Information System (INIS)

    2007-01-01

    The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web site (www.cre.fr). The present observatory is dedicated only to eligible customers before 1 July 2007, i.e. non-residential customers. Statistics related to residential customers will be published in the next observatory (1 December 2007). Content: A - The electricity market: The retail electricity market (Introduction, Non-residential customer segments and their respective weights, Status at July 1, 2007, Dynamic analysis: 2. Quarter 2007); The wholesale electricity market (Introduction, Wholesale market activity in France, Wholesale market activity in France, Prices on the French wholesale market and European comparison, Import and export volumes, Concentration of the French electricity market, Striking fact of the second quarter 2007); B - The gas market: The retail gas market (Introduction, The non-residential customer segments and their respective weights, Status at July 1, 2007); The wholesale gas market (Gas pricing and gas markets in Europe, The wholesale market in France); C - Appendices: Electricity and gas market observatories combined glossary, Specific electricity market observatory glossary, Specific gas market observatory glossary

  1. Carbon pricing, nuclear power and electricity markets

    Energy Technology Data Exchange (ETDEWEB)

    Cameron, R.; Keppler, J. H. [OECD Nuclear Energy Agency, 12, boulevard des Iles, 92130 Issy-les-Moulineaux (France)

    2012-07-01

    In 2010, the NEA in conjunction with the International Energy Agency produced an analysis of the Projected Costs of Electricity for almost 200 power plants, covering nuclear, fossil fuel and renewable electricity generation. That analysis used lifetime costs to consider the merits of each technology. However, the lifetime cost analysis is less applicable in liberalised markets and does not look specifically at the viewpoint of the private investor. A follow-up NEA assessment of the competitiveness of nuclear energy against coal- and gas-fired generation under carbon pricing has considered just this question. The economic competition in electricity markets is today between nuclear energy and gas-fired power generation, with coal-fired power generation not being competitive as soon as even modest carbon pricing is introduced. Whether nuclear energy or natural gas comes out ahead in their competition depends on a number of assumptions, which, while all entirely reasonable, yield very different outcomes. The analysis in this study has been developed on the basis of daily data from European power markets over the last five-year period. Three different methodologies, a Profit Analysis looking at historic returns over the past five years, an Investment Analysis projecting the conditions of the past five years over the lifetime of plants and a Carbon Tax Analysis (differentiating the Investment Analysis for different carbon prices) look at the issue of competitiveness from different angles. They show that the competitiveness of nuclear energy depends on a number of variables which in different configurations determine whether electricity produced from nuclear power or from CCGTs generates higher profits for its investors. These are overnight costs, financing costs, gas prices, carbon prices, profit margins (or mark-ups), the amount of coal with carbon capture and electricity prices. This paper will present the outcomes of the analysis in the context of a liberalised

  2. Carbon pricing, nuclear power and electricity markets

    International Nuclear Information System (INIS)

    Cameron, R.; Keppler, J. H.

    2012-01-01

    In 2010, the NEA in conjunction with the International Energy Agency produced an analysis of the Projected Costs of Electricity for almost 200 power plants, covering nuclear, fossil fuel and renewable electricity generation. That analysis used lifetime costs to consider the merits of each technology. However, the lifetime cost analysis is less applicable in liberalised markets and does not look specifically at the viewpoint of the private investor. A follow-up NEA assessment of the competitiveness of nuclear energy against coal- and gas-fired generation under carbon pricing has considered just this question. The economic competition in electricity markets is today between nuclear energy and gas-fired power generation, with coal-fired power generation not being competitive as soon as even modest carbon pricing is introduced. Whether nuclear energy or natural gas comes out ahead in their competition depends on a number of assumptions, which, while all entirely reasonable, yield very different outcomes. The analysis in this study has been developed on the basis of daily data from European power markets over the last five-year period. Three different methodologies, a Profit Analysis looking at historic returns over the past five years, an Investment Analysis projecting the conditions of the past five years over the lifetime of plants and a Carbon Tax Analysis (differentiating the Investment Analysis for different carbon prices) look at the issue of competitiveness from different angles. They show that the competitiveness of nuclear energy depends on a number of variables which in different configurations determine whether electricity produced from nuclear power or from CCGTs generates higher profits for its investors. These are overnight costs, financing costs, gas prices, carbon prices, profit margins (or mark-ups), the amount of coal with carbon capture and electricity prices. This paper will present the outcomes of the analysis in the context of a liberalised

  3. Green light for the opening of the French electricity market

    International Nuclear Information System (INIS)

    Alary-Grall, L.

    2000-01-01

    The French market of electricity is progressively opening to competitiveness. A recent act of parliament allows main industrialists to choose their electricity suppliers, this choice concerns only one third of the electricity market. A regulatory authority has been set up to assure a fair competition and a fair access to the French distribution network for electricity producers. (A.C.)

  4. Realistic electricity market simulator for energy and economic studies

    International Nuclear Information System (INIS)

    Bernal-Agustin, Jose L.; Contreras, Javier; Conejo, Antonio J.; Martin-Flores, Raul

    2007-01-01

    Electricity market simulators have become a useful tool to train engineers in the power industry. With the maturing of electricity markets throughout the world, there is a need for sophisticated software tools that can replicate the actual behavior of power markets. In most of these markets, power producers/consumers submit production/demand bids and the Market Operator clears the market producing a single price per hour. What makes markets different from each other are the bidding rules and the clearing algorithms to balance the market. This paper presents a realistic simulator of the day-ahead electricity market of mainland Spain. All the rules that govern this market are modeled. This simulator can be used either to train employees by power companies or to teach electricity markets courses in universities. To illustrate the tool, several realistic case studies are presented and discussed. (author)

  5. Electricity Markets, Smart Grids and Smart Buildings

    Science.gov (United States)

    Falcey, Jonathan M.

    A smart grid is an electricity network that accommodates two-way power flows, and utilizes two-way communications and increased measurement, in order to provide more information to customers and aid in the development of a more efficient electricity market. The current electrical network is outdated and has many shortcomings relating to power flows, inefficient electricity markets, generation/supply balance, a lack of information for the consumer and insufficient consumer interaction with electricity markets. Many of these challenges can be addressed with a smart grid, but there remain significant barriers to the implementation of a smart grid. This paper proposes a novel method for the development of a smart grid utilizing a bottom up approach (starting with smart buildings/campuses) with the goal of providing the framework and infrastructure necessary for a smart grid instead of the more traditional approach (installing many smart meters and hoping a smart grid emerges). This novel approach involves combining deterministic and statistical methods in order to accurately estimate building electricity use down to the device level. It provides model users with a cheaper alternative to energy audits and extensive sensor networks (the current methods of quantifying electrical use at this level) which increases their ability to modify energy consumption and respond to price signals The results of this method are promising, but they are still preliminary. As a result, there is still room for improvement. On days when there were no missing or inaccurate data, this approach has R2 of about 0.84, sometimes as high as 0.94 when compared to measured results. However, there were many days where missing data brought overall accuracy down significantly. In addition, the development and implementation of the calibration process is still underway and some functional additions must be made in order to maximize accuracy. The calibration process must be completed before a reliable

  6. International energy technology collaboration: wind power integration into electricity systems

    International Nuclear Information System (INIS)

    Justus, D.

    2006-01-01

    A rapid growth of wind power since the 1990s has led to notable market shares in some electricity markets. This growth is concentrated in a few countries with effective Research, Development and Demonstration (RD and D) programmes and with policies that support its diffusion into the market place. The speed and depth of its penetration in these electricity markets have amplified the need to address grid integration concerns, so as not to impede the further penetration of wind power. Research on technologies, tools and practices for integrating large amounts of wind power into electricity supply systems is attempting to respond to this need. In recent years, existing international collaborative research efforts have expanded their focus to include grid integration of wind power and new consortia have been formed to pool knowledge and resources. Effective results benefit a few countries that already have a significant amount of wind in their electricity supply fuel mix, as well as to the potential large markets worldwide. This paper focuses on the challenge of bringing significant amounts of intermittent generating sources into grids dominated by large central generating units. It provides a brief overview of the growth of wind power, mainly since 1990, the technical and operational issues related to integration and selected collaborative programmes underway to address grid integration concerns. (author)

  7. Forecasting the Electricity Demand and Market Shares in Retail Electricity Market Based on System Dynamics and Markov Chain

    OpenAIRE

    Qingyou Yan; Chao Qin; Mingjian Nie; Le Yang

    2018-01-01

    Due to the deregulation of retail electricity market, consumers can choose retail electric suppliers freely, and market entities are facing fierce competition because of the increasing number of new entrants. Under these circumstances, forecasting the changes in all market entities, when market share stabilized, is important for suppliers making marketing decisions. In this paper, a market share forecasting model was established based on Markov chain, and a system dynamics model was construct...

  8. Integrating Ethics into the Marketing Curriculum.

    Science.gov (United States)

    Martin, James H.

    1990-01-01

    Describes how John Carroll University successfully integrated ethics into existing marketing courses. Provides a summary of the current literature on marketing ethics, discusses the educational goals that are met by integrating ethics into the curriculum, examines available curricular options, and details the design and implementation of a segment…

  9. The electricity prices in the European Union. The role of renewable energies and regulatory electric market reforms

    International Nuclear Information System (INIS)

    Moreno, Blanca; López, Ana J.; García-Álvarez, María Teresa

    2012-01-01

    The European Union electricity market has been gradually liberalized since 1990s. Theoretically, competitive markets should lead to efficiency gains in the economy thus reducing electricity prices. However, there is a controversial debate about the real effects of the electricity liberalization on electricity prices. Moreover, the increased generation of electricity from renewable energies RES-E (Electricity from Renewable Energy Sources) is also integrated in wholesale market reducing wholesale prices, but the final effect over household prices is not clear. In order to contribute to this debate, this paper provides an empirical investigation into the electricity prices determinants. In fact we develop econometric panel models to explore the relationship between the household electricity prices and variables related to the renewable energy sources and the competition in generation electricity market. More specifically we use a panel data set provided by Eurostat and covering 27 European Union countries during the period 1998–2009. Our results suggest that electricity prices increase with the deployment of RES-E and with the expansion of greenhouse gas emissions produced by energy industries- as a European Union CO 2 emission trading scheme exists. Results also reveal that country's characteristics can affect household electricity prices. -- Highlights: ► Electricity liberalized markets should lead to reduce electricity prices. ► The use of renewable energies (RES) reduce wholesale electricity prices. ► However, household electricity prices are increasing in European Union. ► Panel data models are developed to investigate the effect of RES and electricity competition on household electricity prices. ► We find that the deployment of RES increases prices paid by consumers in a liberalized market.

  10. Government intervention and market integration in Indonesian rice markets

    OpenAIRE

    Ismet, Mohammad; Barkley, Andrew P.; Llewelyn, Richard V.

    1998-01-01

    Long-run spatial price relationships in Indonesian rice markets and factors affecting the degree of market integration are evaluated using multivariate cointegration tests with weekly price data for the 1982-1993 period. The analysis includes evaluation of pre-self-sufficiency and post-self-sufficiency periods as well as for the entire period. The cointegration tests for entire Indonesian rice market, represented by the nine most relevant price series, indicate that relative to the pre-selfsu...

  11. The single European energy market: the electricity supply sector

    International Nuclear Information System (INIS)

    Halliwell, A.A.

    1991-01-01

    The completion of the Internal Market in the Community by the end of 1992 has become a key objective and the focal point of the revival of the European Community. Within this overall objective, the development of the Single European Energy Market, the Internal Energy market, is a major element. The energy objectives for the Community, adopted in 1986 by the Council of Ministers and relating to targets in the energy sector to be achieved by 1995, contain what are effectively the aims of the Internal Energy Market. This is in a reference to the need for greater integration, free from barriers to trade, of the Internal Energy Market with a view to improving security of supply, reducing costs and improving economic competitiveness. In the light of these aims, the Commission drew up, in 1988, an inventory of potential obstacles to the achievement of the Internal Energy Market. This was accepted by the Council, together with a list of suggested priority areas of work, and has formed the basis of the Commission's efforts to move forward as quickly as possible in the development of the Internal Energy Market, in all branches of the energy sector. The impact on the electricity sector, in particular, is considered here. (author)

  12. Legal unbundling and auctions in vertically integrated (utilities) markets

    Czech Academy of Sciences Publication Activity Database

    van Koten, Silvester

    2013-01-01

    Roč. 36, č. 3 (2013), s. 543-573 ISSN 0929-1261 R&D Projects: GA MŠk LC542 Institutional support: RVO:67985998 Keywords : regulation * vertical integration * electricity markets Subject RIV: AH - Economics Impact factor: 0.330, year: 2013

  13. Price dynamics among U.S. electricity spot markets

    International Nuclear Information System (INIS)

    Park, Haesun; Mjelde, James W.; Bessler, David A.

    2006-01-01

    Combining recent advances in causal flows with time series analysis, relationships among 11 U.S. spot market electricity prices are examined. Results suggest that the relationships among the markets vary by time frame. In contemporaneous time, the western markets are separated from the eastern markets and the Electricity Reliability Council of Texas. At longer time frames these separations disappear, even though electricity transmission between the regions is limited. It appears the relationships among markets are not only a function of physical assets (such as transmissions lines among markets), but by similar and dissimilar institutional arrangements among the markets. (Author)

  14. Methods for Estimation of Market Power in Electric Power Industry

    Science.gov (United States)

    Turcik, M.; Oleinikova, I.; Junghans, G.; Kolcun, M.

    2012-01-01

    The article is related to a topical issue of the newly-arisen market power phenomenon in the electric power industry. The authors point out to the importance of effective instruments and methods for credible estimation of the market power on liberalized electricity market as well as the forms and consequences of market power abuse. The fundamental principles and methods of the market power estimation are given along with the most common relevant indicators. Furthermore, in the work a proposal for determination of the relevant market place taking into account the specific features of power system and a theoretical example of estimating the residual supply index (RSI) in the electricity market are given.

  15. Integral marketing auditing: Basic features

    Directory of Open Access Journals (Sweden)

    Rakić Mira

    2006-01-01

    Full Text Available Instead of emphasize the "primacy of planning" in management process marketing control should be viewed as an activity that counterbalances marketing planning and strategy, and not as a "post hoc" adjunct to the planning function. Rather, it is a separate marketing function, which by continuously checking on the validity of plans, provides time and flexibility to an organization. Therefore, in this view, marketing planning and control are counterbalances processes which are performed simultaneously. The essence of feedback control is a measurement of the actual and desired states after action has been taken, and a subsequent correction of activities. In feedforward control the activities are corrected by predicting whether current activities would lead to desired states. The single most important reason why feedforward control is different from feedback control is that its use of information is prognostic. While feedback control tries to solve problems that have occurred, feedforward control tries to discover problems waiting to occur. It is also important to distinguish between financial non-financial and multiple control. Financial control of marketing activities involves control of sales revenue, profitability and return on marketing investment (ROMI. Non-financial control of marketing activities consists of control market share, customer satisfaction, customer loyalty, brand equity and customer equity. Key components of multiple control marketing activities are control of efficiency, effectiveness and marketing audit. Marketing performance measures have moved in three consistent directions over the years: from financial to non-financial output measures, from output to input measures and from undimensional to multidimensional measures.

  16. Renewable Electricity-to-Grid Integration | Energy Systems Integration

    Science.gov (United States)

    Facility | NREL Renewable Electricity-to-Grid Integration Renewable Electricity-to-Grid Integration NREL works with industry partners to optimize strategies for effectively interconnecting renewable renewable electric grid integration work includes research and development (R&D) on advanced inverters

  17. Market prices for solar electricity in Ontario

    International Nuclear Information System (INIS)

    Rowlands, I.H.

    2006-01-01

    The Ontario electricity supply is facing considerable challenges while demand is increasing due to a growing population and increased economic growth needs. In response to these challenges, the government of Ontario established the Ontario Power Authority (OPA) in 2004 to ensure adequate, reliable and secure electricity supply and resources in Ontario. The OPA has also engaged in activities to facilitate the diversification of sources of electricity supply by promoting the use of cleaner energy sources and technologies, including alternative energy sources and renewable energy. The purpose of this paper was to advance discussions regarding the contribution that solar PV can make to Ontario's supply mix. In particular, it determined the value of the electricity that would have been produced by a PV system located in Waterloo, Ontario under the following 4 pricing regimes: (1) the conventional small user tariff system currently in place in Ontario, (2) the time-of-use pricing system that is voluntarily available to those who have smart meters installed in their facilities, (3) the spot market, hourly prices, to which some of Ontario's largest electricity users are exposed, and (4) the recently-proposed rate for standard offer contracts for PV systems. The study showed that a solar PV system that produces 3,000 kWh of electricity over the course of a year would generate different revenue amounts, ranging from the smallest amount of approximately $174.00 to $1,260.00, depending on the pricing regime. The pricing regime that reflects real, time-of-day electricity prices appears to be most advantageous to solar PV systems. It was recommended that additional work is needed regarding the other benefits of solar PV, such as avoided capacity/generation needs, avoided transmission and distribution cost and losses, environmental benefits, and job creation. 3 refs., 4 tabs., 8 figs

  18. Basic Principles of Electrical Network Reliability Optimization in Liberalised Electricity Market

    Science.gov (United States)

    Oleinikova, I.; Krishans, Z.; Mutule, A.

    2008-01-01

    The authors propose to select long-term solutions to the reliability problems of electrical networks in the stage of development planning. The guide lines or basic principles of such optimization are: 1) its dynamical nature; 2) development sustainability; 3) integrated solution of the problems of network development and electricity supply reliability; 4) consideration of information uncertainty; 5) concurrent consideration of the network and generation development problems; 6) application of specialized information technologies; 7) definition of requirements for independent electricity producers. In the article, the major aspects of liberalized electricity market, its functions and tasks are reviewed, with emphasis placed on the optimization of electrical network development as a significant component of sustainable management of power systems.

  19. Strategies for Charging Electric Vehicles in the Electricity Market

    DEFF Research Database (Denmark)

    Juul, Nina; Pantuso, Giovanni; Iversen, Jan Emil Banning

    2015-01-01

    . We show that all vehicle owners will benefit from acting more intelligently on the energy market. Furthermore, the high value of the stochastic solution shows that, in case the regulating price differs from the expected, the solution to the deterministic problem becomes infeasible.......This paper analyses different charging strategies for a fleet of electric vehicles. Along with increasing the realism of the strategies, the opportunity for acting on the regulating market is also included. We test the value of a vehicle owner that can choose when and how to charge; by presenting...... optimally in response to predicted spot prices, and – in some settings – additional gains from using the up and down regulating prices. Particularly, strategies are chosen from uncontrolled charging through deterministic optimization, to modelling the charging and bidding problem with stochastic programming...

  20. Investment incentives in the Korean electricity market

    International Nuclear Information System (INIS)

    Park, Jung-Yeon; Ahn, Nam-Sung; Yoon, Yong-Beum; Koh, Kyung-Ho; Bunn, Derek W.

    2007-01-01

    This paper develops a model-based analysis of the effects of various capacity incentive systems on new investment in the Korean electricity market. The restructuring process in Korea allocated power generation to six firms, competing within a wholesale market, albeit strictly on a cost basis. Because of this cost-based pool, capacity payments were also introduced to encourage new investment. However, it is an open question whether the current fixed capacity payment scheme is enough to secure resource adequacy, and consideration is being given to alternative mechanisms such as the use of LOLP. Using a detailed market simulation model, based on system dynamics, we compare these approaches in terms of how they may influence the investors' decisions and thereby determine the system reserve margin. The simulation results suggest that there may be serious problems in staying with the current fixed capacity payments in order to achieve resource adequacy. In contrast, an LOLP-based capacity mechanism may, in the longer term, increase the reserve margin compared with a fixed capacity payment. More generally, this paper indicates how crucial the effective modeling of the investment behavior of the independent power producers is for adequate policy support, even if they only constitute a fringe in a substantially centrally influenced market

  1. Hierarchical energy management mechanisms for an electricity market with microgrids

    Directory of Open Access Journals (Sweden)

    Hong-Tzer Yang

    2014-08-01

    Full Text Available This study addresses a micro-grid electricity market (MGEM with day-ahead (DA and real-time market mechanisms integrated. The bidding mechanisms for the market are described in this study, considering the generation cost of different distributed energy resources (DERs, like distributed generator, energy storage system and demand response. Including load and renewable generation forecasting systems and a fuzzy decision supporting system, a hierarchical micro-grid energy management system (MG-EMS is then proposed to ensure the benefits of involved micro-grid central controller, DER owners and customers. To verify the feasibility of the proposed system, the whole-year historical pricing and load data for New England independent system operator are employed. The numerical results show that the proposed MG-EMS is promising and effective for the operations of MGEM.

  2. Capacity Market Design: Motivation and Challenges in Alberta’s Electricity Market

    OpenAIRE

    David Brown

    2018-01-01

    Alberta’s electricity market is currently undergoing a period of substantial transition. The province should proceed with caution as it switches from an energy-only electricity market to a capacity market by 2021. Many other jurisdictions have already made the changeover and Alberta can learn from their experiences in order to avoid common mistakes and pitfalls that can arise with the deployment of a capacity market.There were growing concerns that the existing electricity market structure wo...

  3. Markets and pricing for interruptible electric power

    International Nuclear Information System (INIS)

    Gedra, T.W.; Varaiya, P.P.

    1993-01-01

    The authors propose a market for interruptible, or callable, forward contracts for electric power, in which the consumer grants the power supplier the right to interrupt a given unit of load in return for a price discount. The callable forward contracts are traded continuously until the time of use. This allows recourse for those customers with uncertain demand, while risk-averse consumers can minimize their price risk by purchasing early. Callable forward contracts are simple in form, and can be directly incorporated into the utility's economic dispatch procedure

  4. Electricity Market Optimization of Heat Pump Portfolio

    DEFF Research Database (Denmark)

    Biegel, Benjamin; Andersen, Palle; Pedersen, Tom S.

    2013-01-01

    We consider a portfolio of domestic heat pumps controlled by an aggregator. The aggregator is able to adjust the consumption of the heat pumps without affecting the comfort in the houses and uses this ability to shift the main consumption to hours with low electricity prices. Further......, the aggregator is able to place upward and downward regulating bids in the regulating power market based on the consumption flexibility. A simulation is carried out based on data from a Danish domestic heat pump project, historical spot prices, regulating power prices, and spot price predictions. The simulations...

  5. Nuclear power in competitive electricity markets

    International Nuclear Information System (INIS)

    2000-01-01

    Economic deregulation in the power sector raises new challenges for the prospects of nuclear power. A key issue is to assess whether nuclear power can be competitive in a de-regulated electricity market. Other important considerations include safety, nuclear liability and insurance, the nuclear power infrastructure, and health and environmental protection. This study, conducted by a group of experts from twelve OECD Member countries and three international organisations, provides a review and analysis of these issues, as related to both existing and future nuclear power plants. It will be of particular interest to energy analysts, as well as to policy makers in the nuclear and government sectors. (author)

  6. Nodal pricing in a coupled electricity market

    OpenAIRE

    Bjørndal, Endre; Bjørndal, Mette; Cai, Hong

    2014-01-01

    This paper investigates a pricing model for an electricity market with a hybrid congestion management method, i.e. part of the system applies a nodal pricing scheme and the rest applies a zonal pricing scheme. The model clears the zonal and nodal pricing areas simultaneously. The nodal pricing area is affected by the changes in the zonal pricing area since it is directly connected to the zonal pricing area by commercial trading. The model is tested on a 13-node power system. Within the area t...

  7. The design of tomorrow's European electricity market; Das europaeische Strommarktdesign der Zukunft

    Energy Technology Data Exchange (ETDEWEB)

    Kranner, Karl; Sharma, Stephan [Verbund AG, Wien (Austria). Geschaefststeuerung und Marketing

    2013-01-15

    In today's times of rising feed-in rates from renewable energy and competing market models, the need for an integrated European energy market is growing ever more urgent. The first phase of liberalisation of the European electricity markets was marked by the development of national sub-markets which differed in their degree of liberty. Due to network bottlenecks at the borders, substantial price differences were seen to arise between market regions, with the exception of those between Germany and Austria. This leads to the question as to how the integration of the internal European energy market can best be brought about. A six-point programme elaborated by Verbund AG banks on market mechanisms rather than regulation as a means of strengthening the electricity market.

  8. Development of the Electricity Market in Macedonia and Future Challenges

    International Nuclear Information System (INIS)

    Taleski, R.; Cerepnalkovski, T.

    2008-01-01

    The power sector in the Republic of Macedonia started the restructuring process in 2000 by corporatization of the state owned vertically integrated utility 'Elektrostopanstvo na Makedonija' (ESM). However, major changes happened after 2003. First, an independent Energy Regulatory Commission (ERC) was established and later ESM was unbundled into three companies: MEPSO (TSO), 'ELEM' (Generation) and ESM-Distribution (DSO). The market model that was adopted, in essence, was a combination of the Single Buyer and wholesale competition models. The idea was to establish a transitional legal framework that would later be further developed to allow competition on retail level in accordance with EU directives and the SEE Energy Treaty. The wholesale competition was meant for the large industrial customers that had right to choose if they would buy electricity in the (regional) market or stay on the tariff system. However, since there is no competition on generation level in the country, and regional market prices were higher than the regulated prices, the wholesale component didn't really worked. In 2007 and 2008 the Energy law was changed to enforce the wholesale competition. With these changes MEPSO was replaced by ELEM to serve as Single buyer for captive (distribution) customers. Although the Government of Macedonia (GoM) claimed that these changes further enhance the market model, in reality they provide very little (if any) improvements in the sector since 2005. As a result, there were no possibilities to open the market for all non-residential customers as of January 1, 2008. There are several reasons that led to stagnation in the liberalization process. Failure to develop a number of secondary legislation documents and very low electricity prices for captive customers were probably the most relevant issues. In order to proceed with the liberalization process relevant institutions need to develop market code, establish sustainable balancing market, and upgrade the

  9. Flexible reserve markets for wind integration

    Science.gov (United States)

    Fernandez, Alisha R.

    The increased interconnection of variable generation has motivated the use of improved forecasting to more accurately predict future production with the purpose to lower total system costs for balancing when the expected output exceeds or falls short of the actual output. Forecasts are imperfect, and the forecast errors associated with utility-scale generation from variable generators need new balancing capabilities that cannot be handled by existing ancillary services. Our work focuses on strategies for integrating large amounts of wind generation under the flex reserve market, a market that would called upon for short-term energy services during an under or oversupply of wind generation to maintain electric grid reliability. The flex reserve market would be utilized for time intervals that fall in-between the current ancillary services markets that would be longer than second-to-second energy services for maintaining system frequency and shorter than reserve capacity services that are called upon for several minutes up to an hour during an unexpected contingency on the grid. In our work, the wind operator would access the flex reserve market as an energy service to correct for unanticipated forecast errors, akin to paying the generators participating in the market to increase generation during a shortfall or paying the other generators to decrease generation during an excess of wind generation. Such a market does not currently exist in the Mid-Atlantic United States. The Pennsylvania-New Jersey-Maryland Interconnection (PJM) is the Mid-Atlantic electric grid case study that was used to examine if a flex reserve market can be utilized for integrating large capacities of wind generation in a lowcost manner for those providing, purchasing and dispatching these short-term balancing services. The following work consists of three studies. The first examines the ability of a hydroelectric facility to provide short-term forecast error balancing services via a flex

  10. Price-elastic demand in deregulated electricity markets

    OpenAIRE

    Siddiqui, Afzal S.

    2003-01-01

    The degree to which any deregulated market functions efficiently often depends on the ability of market agents to respond quickly to fluctuating conditions. Many restructured electricity markets, however, experience high prices caused by supply shortages and little demand-side response. We examine the implications for market operations when a risk-averse retailer's end-use consumers are allowed to perceive real-time variations in the electricity spot price. Using a market-equilibrium mo...

  11. The liberalisation of the European electricity market : an unstructured restructuring process?

    International Nuclear Information System (INIS)

    Boisseleau, F.; Hakvoort, R.

    2005-01-01

    The European Union (EU) directive 96/92/EC defines common rules for the generation, transmission and distribution of electricity, paving the way for the liberalization of the electricity markets of EU member states. Member states are obliged to open their national electricity supply markets, meaning that eligible customers can choose their own suppliers. This paper discussed the process by which the countries of the EU have restructured their electricity markets, arguing that the process has focused on legal and organizational issues, rather than specific prescriptions for the economic design of the market. Although the objective of the EU directive was to create a competitive market, restructuring has led to 15 or more fragmented markets, each liberalized to a different degree and shaped following a wide range of different principles. Areas where the EU has failed to provide a coherent market view were discussed. Issues concerning short-term market arrangements, congestion management and long-term investment were examined. Section 1 of the paper focused on policy issues in the liberalization process, while section 2 emphasized the importance of market design. Section 3 addressed the need for market monitoring and the issue of market power. It was concluded that liberalization is only one step in the process that alone cannot deliver the expected benefits of single integrated European-wide market. At present, the European electricity market is hindered by a lack of proper design and sufficient transparency. 32 refs., 3 tabs., 4 figs

  12. A comprehensive market-based scheme for VAR management and pricing in the electricity markets

    Energy Technology Data Exchange (ETDEWEB)

    El-Araby, E.E. [Qassim Univ., Alqassim, Meldia (Saudi Arabia). Dept. of Electrical Engineering

    2009-07-01

    In order to enable a power system to operate within an acceptable degree of reliability and security, the provision of VAR ancillary services from the VAR sources in electricity markets is the most effective method. The procurement of VAR services is particularly problematic for transmission operators as it relates to pricing mechanism and various technical issues during system operation. This paper proposed an integrated market-based approach for pricing VAR service in the electricity market. The paper was an extension of the authors' proposal for the provision of the VAR service from dynamic VAR sources in a competitive market-based environment. The formulation was modified to include VAR utilization payment and possible power system transition states multiple base cases and contingencies with their associated occurrence probabilities. The paper discussed the basic terms of the proposed approach including the VAR market objective and generator VAR output and its compensation. The mathematical formulation that considered VAR capacity payment, utilization payment and operating costs under the previous transition states in a unified single problem were introduced. The overall problem formulation and solution algorithm were also presented as a large-scale mixed integer nonlinear optimization problem. It was concluded that the proposed method was suited for the simulation and analysis of the existing VAR market. 8 refs., 3 tabs., 5 figs., 2 appendices.

  13. Product Market Integration, Comparative Advantages and Labour Market Performance

    DEFF Research Database (Denmark)

    Andersen, Torben M.; Rose Skaksen, Jan

    2004-01-01

    of the specialization gains are similar to anincrease in labour productivity, whereas the labour market reform effectis similar to an increase in the degree of competition in the labourmarket. Wages, employment and welfare increase as a result of furtherproduct market integration. It is interesting to note......In this paper, we set up a two-country general equilibrium modelwhere trade unions have wage bargaining power. We show that adecrease in trade distortions inducing further product market integrationgives rise to specialization gains as well as a labour market reformeffect. The implications...... that the labourmarket reform effect of product market integration is achieved despitean increase in the wage level.JEL Classification: F15, J30, J50.Keywords: Trade frictions, wage formation, employment, welfaregains....

  14. U.S. Renewable Electricity Market

    Science.gov (United States)

    The US green energy market is broken up into two main groups: the mandatory markets including state Renewable Portfolio Standards (RPS) and voluntary markets, also referred to as green power markets.  This page delineates this two markets.

  15. The Mexican market for electrical equipment and services

    International Nuclear Information System (INIS)

    Robinson, J.

    1994-05-01

    Most of Mexico's electric power needs are supplied by the Comision Federal de Electricidad (CFE). Total installed capacity is ca 33,000 MW, of which ca 42% comes from oil-fired generation and 26% hydroelectric. Electricity consumption is expected to grow at ca 6%/y between 1993 and 2000; to meet this demand, CFE plans to build nearly 14,000 MW of additional generating capacity to cost ca $34 billion. A new law governing the electric power sector recently privatized electrical project construction and provided for private financing. Construction of all larger generation and transmission projects has been privatized, thereby deregulating and simplifying the bidding process for Canadian firms wishing to bid, subcontract, or supply equipment or materials. The most notable opportunities for Canadian firms are in transmission projects. The Mexican electrical manufacturing industry comprises ca 2,000 firms employing 150,000 people. Branch plants of global firms plus domestic companies supply over 70% of market demand. Production of equipment and materials for the electrical sector is well integrated with suppliers and customers, and manufacturers are seeking imports to replace abandoned product lines as the industry rationalizes. These, along with more sophisticated equipment not made in Mexico, provide opportunities for Canadian suppliers. The North American Free Trade Agreement gives preference to Canadians over offshore competitors, and eliminates many barriers to exports. Canada's Export Development Corporation provides financing with a line of credit for the electrical sector. Marketing in Mexico is best done through personal visits and capable local representation. A directory of Mexican electrical manufacturers who import is appended. 1 tab

  16. Decentralized energy supply and electricity market structures

    OpenAIRE

    Weber, Christoph; Vogel, Philip

    2005-01-01

    Small decentralized power generation units (DG) are politically promoted because of their potential to reduce GHG-emissions and the existing dependency on fossil fuels. A long term goal of this promotion should be the creation of a level playing field for DG and conventional power generation. Due to the impact of DG on the electricity grid infrastructure, future regulation should consider the costs and benefits of the integration of decentralized energy generation units. Without an adequate c...

  17. Electricity trade under financial market supervision; Der Stromhandel unter Finanzmarktaufsicht

    Energy Technology Data Exchange (ETDEWEB)

    Hagena, Martin

    2011-07-01

    With the competitive opening of the electricity market at European and national level, the goods electricity became a freely traded commodity. The author of the contribution under consideration describes the legal consequences related to financial market for trading electricity in the context of the current Directive 2004/39/EC now under consideration of the commodity futures trading in its representational scope. The statements clearly indicate that the power market is a goods market with its own laws and not a classical financial market. It considers what characteristics exist in electricity trading and whether and how they are considered for regulatory purposes.

  18. The value of electricity storage in energy-only electricity markets

    Science.gov (United States)

    McConnell, D.; Forcey, T.; Sandiford, M.

    2015-12-01

    Price volatility and the prospect of increasing renewable energy generation have raised interest in the potential opportunities for storage technologies in energy-only electricity markets. In this paper we explore the value of a price-taking storage device in such a market, the National Electricity Market (NEM) in Australia. Our analysis suggests that under optimal operation, there is little value in having more than six hours of storage in this market. However, the inability to perfectly forecast wholesale prices, particularly extreme price spikes, may warrant some additional storage. We found that storage devices effectively provide a similar service as peak generators (such as Open Cycle Gas Turbines) and are similarly dependent on and exposed to extreme price events, with revenue for a merchant generator highly skewed to a few days of the year. In contrast to previous studies, this results in the round trip efficiency of the storage being relatively insignificant. Financing using hedging strategies similar to a peak generator effectively reduces the variability of revenue and exposure of storage to extreme prices. Our case study demonstrates that storage may have a competitive advantage over other peaking generators on the NEM, due to its ability to earn revenue outside of extreme peak events. As a consequence the outlook for storage options on the NEM is dependent on volatility, in turn dependent on capacity requirements. Further to this, increased integration of renewable energy may both depend on storage and improve the outlook for storage in technologies in electricity markets.

  19. Integration of decentralized electricity production

    International Nuclear Information System (INIS)

    Tomekova, A.

    2004-01-01

    The project SustelNet also deals with the possibilities of future development of DG sources. Within the project frame a quite general concept of the so-called 'equal field' for centralized and decentralized production was chosen for the better integration of DG. Its aim was to the achieve demanded level on the market in the future term (by 2020). Looking at the problem in the wider context means, that both forms of the production should be admitted on the market on the same conditions. The result of this project is a regulatory map, which actually serves as a definite regulatory strategy for more effective employment of DG sources. On the basis of the national regulatory strategies a proposition of regulatory map for EU will be launched, including some recommendations for European Commission. A few expert papers (scenario of proceeding, benchmarking, economical tools and criteria) are also output of this project. Five member states of the EU and four entering countries have been involved in this project. The final results of this procedure will be presented from April 2004 on international and national conferences, seminaries, or by means of other ways of publicity

  20. Electricity market price volatility: The case of Ontario

    International Nuclear Information System (INIS)

    Zareipour, Hamidreza; Bhattacharya, Kankar; Canizares, Claudio A.

    2007-01-01

    Price volatility analysis has been reported in the literature for most competitive electricity markets around the world. However, no studies have been published yet that quantify price volatility in the Ontario electricity market, which is the focus of the present paper. In this paper, a comparative volatility analysis is conducted for the Ontario market and its neighboring electricity markets. Volatility indices are developed based on historical volatility and price velocity concepts, previously applied to other electricity market prices, and employed in the present work. The analysis is carried out in two scenarios: in the first scenario, the volatility indices are determined for the entire price time series. In the second scenario, the price time series are broken up into 24 time series for each of the 24 h and volatility indices are calculated for each specific hour separately. The volatility indices are also applied to the locational marginal prices of several pricing points in the New England, New York, and PJM electricity markets. The outcomes reveal that price volatility is significantly higher in Ontario than the three studied neighboring electricity markets. Furthermore, comparison of the results of this study with similar findings previously published for 15 other electricity markets demonstrates that the Ontario electricity market is one of the most volatile electricity markets world-wide. This high volatility is argued to be associated with the fact that Ontario is a single-settlement, real-time market

  1. Using Intelligent System Approaches for Simulation of Electricity Markets

    Science.gov (United States)

    Hamagami, Tomoki

    Significances and approaches of applying intelligent systems to artificial electricity market is discussed. In recent years, with the moving into restructuring of electric system in Japan, the deregulation for the electric market is progressing. The most major change of the market is a founding of JEPX (Japan Electric Power eXchange.) which is expected to help lower power bills through effective use of surplus electricity. The electricity market designates exchange of electric power between electric power suppliers (supplier agents) themselves. In the market, the goal of each supplier agents is to maximize its revenue for the entire trading period, and shows complex behavior, which can model by a multiagent platform. Using the multiagent simulations which have been studied as “artificial market" helps to predict the spot prices, to plan investments, and to discuss the rules of market. Moreover, intelligent system approaches provide for constructing more reasonable policies of each agents. This article, first, makes a brief summary of the electricity market in Japan and the studies of artificial markets. Then, a survey of tipical studies of artificial electricity market is listed. Through these topics, the future vision is presented for the studies.

  2. Liberalization of the Flemish market for electricity and natural gas

    International Nuclear Information System (INIS)

    2002-01-01

    In this first report of the Flemish Regulating Institute for the Electricity and Natural Gas Market (VREG) only attention is paid to the market for electricity. Every 3 months a state of the art will be given of the liberalization process of the energy market in Flanders [nl

  3. The electricity market in Croatia and eligible customers

    International Nuclear Information System (INIS)

    Kucic, D.; Baric, A.; Tomasic-Skevin, S.

    2003-01-01

    The paper first presents the model and main characteristics of the Croatian electricity market concerning eligible customers. The first phase of the market opening and the estimated inclusion of eligible customers as well as independent suppliers are also described. Presumed steps of opening of the electricity market are given.(author)

  4. Energy market for energy. Natural gas and electricity

    International Nuclear Information System (INIS)

    Van Scherpenzeel, H.; De Boer, I.

    2000-10-01

    The aim of the title market study is to provide insight into the energy market in Argentina for the Dutch industry and business sector, focusing on the structure of the natural gas and electricity sector and the market for equipment for the production and processing of natural gas and equipment for electricity generation

  5. Functioning of the Finnish electricity wholesale markets; Saehkoen tukkumarkkinan toimivuus Suomessa

    Energy Technology Data Exchange (ETDEWEB)

    Vehvilainen, I.; Broeckl, M.; Hakala, L.; Vanhanen, J.

    2012-12-15

    The purpose of common Nordic electricity market has been to increase competition and efficiency. Market seems to be moving to the opposite direction in the 2010s. Wholesale market has become more fragmented as the market is split to larger number of price areas more often. Poor functioning of the wholesale markets is also the largest contributor to problems in the retail market. Politicians, market regulators, transmission system operators, and market players need to take action to improve the functioning of the market. Separation of price areas reduces competition in all market areas. The Finnish wholesale market is moderately or highly concentrated when Finland is separated from other price areas. Concentration is moderate, if all production capacity is considered. If only price setting hydropower and condensing power capacity are considered, the market is highly concentrated. High concentration can provide opportunities for the biggest producers to use strategic bidding to increase market prices. Larger number of price areas has reduced competition and liquidity with the financial area price products or CfDs. Poor functioning of CfD markets is emphasized by the low competition within the price areas. Bottlenecks between market areas create income for the Transmission System Operators (TSOs) that are responsible of the border transmissions. TSOs have no economic incentives to maintain and repair the border transmission lines, which seems peculiar when compared to e.g. regulation of electricity distribution companies. Finnish Fingrid shows a good example on transparent disclosure of received income and how the accrued funds are used. Import of electricity from Russia to Finland has been reduced since the end of 2011 because of the changes made in the Russian electricity market. Market liberalization in Russia has lead to a market structure that is different from the Nordic markets. Despite the differences, the two markets are becoming more integrated as the

  6. Electricity prices, large-scale renewable integration, and policy implications

    International Nuclear Information System (INIS)

    Kyritsis, Evangelos; Andersson, Jonas; Serletis, Apostolos

    2017-01-01

    This paper investigates the effects of intermittent solar and wind power generation on electricity price formation in Germany. We use daily data from 2010 to 2015, a period with profound modifications in the German electricity market, the most notable being the rapid integration of photovoltaic and wind power sources, as well as the phasing out of nuclear energy. In the context of a GARCH-in-Mean model, we show that both solar and wind power Granger cause electricity prices, that solar power generation reduces the volatility of electricity prices by scaling down the use of peak-load power plants, and that wind power generation increases the volatility of electricity prices by challenging electricity market flexibility. - Highlights: • We model the impact of solar and wind power generation on day-ahead electricity prices. • We discuss the different nature of renewables in relation to market design. • We explore the impact of renewables on the distributional properties of electricity prices. • Solar and wind reduce electricity prices but affect price volatility in the opposite way. • Solar decreases the probability of electricity price spikes, while wind increases it.

  7. Class 1 overview of cultural resources for the Western Area Power Administration Salt Lake City Area Integrated Projects electric power marketing environmental impact statement

    Energy Technology Data Exchange (ETDEWEB)

    Moeller, K.L.; Malinowski, L.M.; Hoffecker, J.F.; Walitschek, D.A.; Shogren, L.; Mathews, J.E.; Verhaaren, B.T.

    1993-11-01

    Argonne National Laboratory conducted an inventory of known archaeological and historic sites in areas that could be affected by the hydropower operation alternatives under analysis in the power marketing environmental impact statement for the Western Area Power Administration`s Salt Lake City Area Integrated Projects. The study areas included portions of the Green River (Flaming Gorge Dam to Cub Creek) in Utah and Colorado and the Gunnison River (Blue Mesa Reservoir to Crystal Dam) in Colorado. All previous archaeological surveys and previously recorded prehistoric and historic sites, structures, and features were inventoried and plotted on maps (only survey area maps are included in this report). The surveys were classified by their level of intensity, and the sites were classified according to their age, type, and contents. These data (presented here in tabular form) permit a general assessment of the character and distribution of archaeological remains in the study areas, as well as an indication of the sampling basis for such an assessment. To provide an adequate context for the descriptions of the archaeological and historic sites, this report also presents overviews of the environmental setting and the regional prehistory, history, and ethnography for each study area.

  8. Risk management of power supply in open electricity market

    International Nuclear Information System (INIS)

    Rinta-Runsala, E.; Kiviniemi, J.

    1999-12-01

    The open electricity market has increased the need of risk management in electric utilities. In this publication the concepts of risk assessment and measures mostly concentrating on market risks for power supply companies are reported. An essential past of the risk management includes the electricity derivates and trade

  9. Design of reactive power procurement in deregulated electricity market

    African Journals Online (AJOL)

    Reactive power management is different in the deregulated electricity market of various countries. In this paper, a novel reactive power procurement model is proposed, which ensure secure and reliable operation of deregulated electricity market. Various issues of reactive power management in the deregulated electricity ...

  10. Seminar on support mechanisms to renewable energy sources and on electricity markets evolution

    International Nuclear Information System (INIS)

    Abadie, Pierre-Marie; Leinekugel Le Cocq, Thibaut; Najdawi, Celine; Rathmann, Max; Soekadar, Ann-Christin

    2013-01-01

    The French-German office for Renewable energies (OFAEnR) organised a Seminar on support mechanisms to renewable energy sources and on electricity markets evolution. In the framework of this French-German exchange of experience, about 150 participants exchanged views on support instruments to renewable energy sources in a context of decentralized power generation and evolving market design. This document brings together the available presentations (slides) made during this event: 1 - Overview of Support mechanisms to renewable energy sources and electricity market evolution in France (Pierre-Marie Abadie); 2 - Support mechanisms in Germany and in France. Similarities and Synergy potentials (Celine Najdawi); 3 - Keynote 'introduction to the French capacity market' (Thibaut Leinekugel Le Cocq); 4 - Power market design for a high renewables share (Max Rathmann); 5 - German electricity System and Integration of Renewable energies. The Current Discussion on the Necessity of Adapting the electricity Market Design (Ann-Christin Soekadar)

  11. The current situation and mid-term prospects for European electricity markets

    International Nuclear Information System (INIS)

    Helm, Dieter

    2013-01-01

    This analysis of the current situation and mid-term prospects for European electricity markets presents: the objectives of energy policy, the historical legacy, the attempts at European integration and the Internal Energy Market (IEM), the coming of the Climate Change Package, the impact of the world economic and Euro-zone crises, the impact of shale gas and the new world of fossil fuel abundance, the impact of renewables on emissions, the impact of renewables on electricity markets, the EU emissions trading system (EU ETS) and the renewables and the electricity markets, the coming of capacity crunch in some cases, the capacity markets, the return of central buyers and national energy policies, and what is to be done for the world electricity markets

  12. The draft of the new electricity market law at a glance

    International Nuclear Information System (INIS)

    Voss, Jan Ole; Kirschnick, Stephan

    2016-01-01

    The conclusion of the new electricity market law is: ''The market will judge it''. A refined market where the renewable energies are increasingly integrated, shall guarantee reasonable prices, security of supply and environmental protection. Whether this can be achieved in reality, is highly questionable. This would require that the overcapacity of the German electricity market confirmed in several reports and the wholesale price for electricity recovers the long term. Only then can it be assumed that investment incentives arise in the construction of modern and efficient power generation plants. Such a ''market-faithful'' system is also absolutely dependent on the behavior of neighboring European countries. Only when these go along the path and affect the price and capacity development not regulatory, the completion of a functioning, liberalized EU internal market for electricity can succeed. [de

  13. Trends in electricity markets and international investment in Mexico

    International Nuclear Information System (INIS)

    Bohigas, N.

    1999-01-01

    A review of current market trends in the energy sector around the world was presented. There is a global movement towards the restructuring of public utility companies. The Americas are opening new energy markets, integrating gas and electricity, privatising public utilities and making mass investments. Mexico has made a proposal to liberalize the market since extensive restructuring is needed to encourage foreign investment. Over the next ten years, energy needs are expected to reach 22,000 MW. Much of this paper focused on how Hydro-Quebec International would be a partner of choice in the Mexican energy market. Hydro-Quebec International is a wholly owned subsidiary of Hydro-Quebec. It has a wide range of expertise in hydroelectric power. The utility has completed more than 300 contracts in 80 countries. Their projects in Mexico include the ECOMEX NGV project which involves the construction of compressed stations, and the CLOROTEC project which includes the construction of a thermal generating station and cogeneration with a capacity of 105 MW. This paper also described the ideal conditions for investing as being political stability, a defined regulatory structure, an established legal system, complementary partners, and acceptable rate of return. It was determined that in order to promote a more favourable investment climate, Mexico must approve the structural reform proposed to the electrical sector

  14. Market, Country and World Effects on Regional Equity Market Integration

    Directory of Open Access Journals (Sweden)

    Chee Wooi Hooy

    2014-08-01

    Full Text Available This study explores the fundamental driving forces of regional equity market integration in a trading bloc. The determinant factors are categorized into market attribute, economic fundamentals and world information. Our sample consists of 26 equity markets of ive regional trading blocs, namely AFTA, CER, EFTA, EU and NAFTA over the period of January 1999 to  August  2005.  We  measure  market  integration  based  on  pricing  errors  as  proposed  by Korajczyk (1996 and Levine and Zervos (1998. Using panel regressions, our results show that  equity  integration  in  these  trading  blocs  is  driven  internally,  where  only  individual-market  volatility  and  economic  fundamentals  play  a  signiicant  role  in  the  process.  Intra-bloc  trade  is  found  to  enhance  regional  equity  market  integration,  supporting  the  notion that  regional  convergence  extends  beyond  the  trade  sector  that  is  promoted  in  the  trade agreements.  We  also  document  regime  shifting  effects  during  stock  market  crises,  where most  of  these  markets  became  strongly  integrated  after  a  regional  crisis,  but  integration was signiicantly weakened during a crisis that affected the world markets. Also, the level of equity market integration differs across trading blocs, where the blocs with a smaller number of country members are relatively more integrated. ";} // -->activate javascript

  15. Electric Vehicle Integration into Modern Power Networks

    DEFF Research Database (Denmark)

    software tools to assess the impacts resulting from the electric vehicles deployment on the steady state and dynamic operation of electricity grids, identifies strategies to mitigate them and the possibility to support simultaneously large-scale integration of renewable energy sources. New business models......Electric Vehicle Integration into Modern Power Networks provides coverage of the challenges and opportunities posed by the progressive integration of electric drive vehicles. Starting with a thorough overview of the current electric vehicle and battery state-of-the-art, this work describes dynamic...... and control management architectures, as well as the communication infrastructure required to integrate electric vehicles as active demand are presented. Finally, regulatory issues of integrating electric vehicles into modern power systems are addressed. Inspired by two courses held under the EES...

  16. Electric Vehicle Integration into Modern Power Networks

    DEFF Research Database (Denmark)

    Electric Vehicle Integration into Modern Power Networks provides coverage of the challenges and opportunities posed by the progressive integration of electric drive vehicles. Starting with a thorough overview of the current electric vehicle and battery state-of-the-art, this work describes dynamic...... software tools to assess the impacts resulting from the electric vehicles deployment on the steady state and dynamic operation of electricity grids, identifies strategies to mitigate them and the possibility to support simultaneously large-scale integration of renewable energy sources. New business models...... and control management architectures, as well as the communication infrastructure required to integrate electric vehicles as active demand are presented. Finally, regulatory issues of integrating electric vehicles into modern power systems are addressed. Inspired by two courses held under the EES...

  17. Hedging strategies in energy markets: the case of electricity retailers

    International Nuclear Information System (INIS)

    Boroumand, Raphael Homayoun; Goutte, Stephane; Porcher, Simon; Porcher, Thomas

    2015-01-01

    As market intermediaries, electricity retailers buy electricity from the wholesale market or self-generate for re(sale) on the retail market. Electricity retailers are uncertain about how much electricity their residential customers will use at any time of the day until they actually turn switches on. While demand uncertainty is a common feature of all commodity markets, retailers generally rely on storage to manage demand uncertainty. On electricity markets, retailers are exposed to joint quantity and price risk on an hourly basis given the physical singularity of electricity as a commodity. In the literature on electricity markets, few articles deals on intra-day hedging portfolios to manage joint price and quantity risk whereas electricity markets are hourly markets. The contributions of the article are twofold. First, we define through a VaR and CVaR model optimal portfolios for specific hours (3 a.m., 6 a.m.,...,12 p.m.) based on electricity market data from 2001 to 2011 for the French market. We prove that the optimal hedging strategy differs depending on the cluster hour. Secondly, we demonstrate the significantly superior efficiency of intra-day hedging portfolios over daily (therefore weekly and yearly) portfolios. Over a decade (2001-2011), our results clearly show that the losses of an optimal daily portfolio are at least nine times higher than the losses of optimal intra-day portfolios. (authors)

  18. Engineering Electricity Markets for a Decarbonized Energy System

    DEFF Research Database (Denmark)

    Jenle, Rasmus Ploug; Pallesen, Trine

    Decarbonization of the Danish electricity sector has recently been sought achieved through the introduction of a novel retail electricity market, named EcoGrid, designed to create price responsive consumers. By following the market design process undertaken by engineers at the Technical Universit...... of introducing synthetic markets as means of governance.......Decarbonization of the Danish electricity sector has recently been sought achieved through the introduction of a novel retail electricity market, named EcoGrid, designed to create price responsive consumers. By following the market design process undertaken by engineers at the Technical University...... of Denmark, the analysis addresses the question: how do engineers make markets? The answer to this question as presented here is: engineers design control systems. By tracing the origins of EcoGrid, this paper documents the governing of electricity consumers through a ‘synthetic market’, i.e. a market...

  19. Integration of European Banking and Financial Markets

    OpenAIRE

    Marques Ibanez, David; Molyneux, Philip

    2002-01-01

    This paper investigates banking and capital market developments in Europe and the moves towards the creation of a single financial services market. A critical element in the integration process is the success of the EU's Financial Services Action Plan (FSAP). This seeks to introduce a wide range of legislation aimed at reducing barriers and promoting cross-border trade in financial services - especially for capital markets and retail / SME financial service areas. As was the case in 1992, it ...

  20. Integrating Strategic Marketing on an Institutional Level.

    Science.gov (United States)

    Liu, Sandra S.

    1998-01-01

    Higher education differs from other service enterprises in its social responsibility and the context for decision making. An integrated marketing strategy based on the identified positioning of the institution plays a crucial role in successful enrollment and long-term institutional development. Marketing can make a significant contribution to…

  1. Merging Advertising and PR: Integrated Marketing Communications.

    Science.gov (United States)

    Rose, Patricia B.; Miller, Debra A.

    1994-01-01

    Identifies and compares the perceived educational needs of advertising and public relations practitioners. Explores differences between practitioners in small versus large markets, and assesses practitioners' beliefs about integrated marketing communications (the merger of advertising and public relations under a single organizational unit). (SR)

  2. Integrating Sustainability Education into International Marketing Curricula

    Science.gov (United States)

    Perera, Chamila Roshani; Hewege, Chandana Rathnasiri

    2016-01-01

    Purpose: The purpose of this study is to extend the current knowledge of curriculum developments in international business and marketing curricula. Integrating sustainability into business and marketing curricula of the universities are widely debated in previous literature. Sustainability is a global phenomenon; however, curriculum development…

  3. Mergers in the GB Electricity Market: effects on Retail Charges

    International Nuclear Information System (INIS)

    Salies, Evens

    2006-05-01

    The opening up of the UK residential electricity sector in 1999 prompted several studies of the impact this had on both the level and structuring of retail charges, and on incumbent players' market power. Drawing on observations of regional tariffs for the month of January 2004, this paper supports previous conclusions based on simulated retail charges, looking at the response of real tariffs to distribution and transmission costs, customer density, and the length of low voltage underground circuit. We also investigate whether vertically integrated suppliers have a particular effect on charges ceteris paribus the effect of cost drivers and supplier-related factors. (author)

  4. Micro-economic analysis of the physical constrained markets: game theory application to competitive electricity markets

    Science.gov (United States)

    Bompard, E.; Ma, Y. C.; Ragazzi, E.

    2006-03-01

    Competition has been introduced in the electricity markets with the goal of reducing prices and improving efficiency. The basic idea which stays behind this choice is that, in competitive markets, a greater quantity of the good is exchanged at a lower price, leading to higher market efficiency. Electricity markets are pretty different from other commodities mainly due to the physical constraints related to the network structure that may impact the market performance. The network structure of the system on which the economic transactions need to be undertaken poses strict physical and operational constraints. Strategic interactions among producers that game the market with the objective of maximizing their producer surplus must be taken into account when modeling competitive electricity markets. The physical constraints, specific of the electricity markets, provide additional opportunity of gaming to the market players. Game theory provides a tool to model such a context. This paper discussed the application of game theory to physical constrained electricity markets with the goal of providing tools for assessing the market performance and pinpointing the critical network constraints that may impact the market efficiency. The basic models of game theory specifically designed to represent the electricity markets will be presented. IEEE30 bus test system of the constrained electricity market will be discussed to show the network impacts on the market performances in presence of strategic bidding behavior of the producers.

  5. Micro-economic analysis of the physical constrained markets: game theory application to competitive electricity markets

    Energy Technology Data Exchange (ETDEWEB)

    Bompard, E.; Ma, Y.C. [Politecnico di Torino, Dept. of Electrical Engineering, Torino (Italy); Ragazzi, E. [CERIS, Institute for Economic Research on Firms and Growth, CNR, National Research Council, Moncalieri, TO (Italy)

    2006-03-15

    Competition has been introduced in the electricity markets with the goal of reducing prices and improving efficiency. The basic idea which stays behind this choice is that, in competitive markets, a greater quantity of the good is exchanged at a lower price, leading to higher market efficiency. Electricity markets are pretty different from other commodities mainly due to the physical constraints related to the network structure that may impact the market performance. The network structure of the system on which the economic transactions needs to be undertaken poses strict physical and operational constraints. Strategic interactions among producers that game the market with the objective of maximizing their producer surplus must be taken into account when modeling competitive electricity markets. The physical constraints, specific of the electricity markets, provide additional opportunity of gaming to the market players. Game theory provides a tool to model such a context. This paper discussed the application of game theory to physical constrained electricity markets with the goal of providing tools for assessing the market performance and pinpointing the critical network constraints that may impact the market efficiency. The basic models of game theory specifically designed to represent the electricity markets will be presented. IEEE30 bus test system of the constrained electricity market will be discussed to show the network impacts on the market performances in presence of strategic bidding behavior of the producers. (authors)

  6. Competition ambiguities. Electricite de France and the electricity market liberalization

    International Nuclear Information System (INIS)

    Boiteux, M.

    2007-04-01

    The European Union decided to open the electricity market to the competition and the last step will be in July 2007. Meanwhile the first part, the opening to big consumers, is a deception. The market saw an increase of the electricity prices. The author explains the effects of the liberalization, presenting the inevitable limits of the competition, the disappointing evaluation, the historical aspects of the electric market facing the today situation. (A.L.B.)

  7. Market Integration, Choice of Technology and Welfare

    DEFF Research Database (Denmark)

    Hansen, Jørgen Drud; Nielsen, Jørgen Ulff-Møller

    2010-01-01

    technologies. Market integration may induce a technological restructuring where firms either diversify their technologies or switch to a homogeneous technology. In general, market integration improves welfare. However, a small decrease of trade costs which induces a switch from heterogeneous technologies...... to a homogeneous technology may locally reduce global welfare. The model also shows that productivity differences lead to intra-industry firm heterogeneity in size and exports similar to the "new-new" trade models with monopolistic competition....

  8. The Renewables Influence on Market Splitting: the Iberian Spot Electricity Market

    OpenAIRE

    Nuno Carvalho Figueiredo; Patrícia Pereira da Silva; Pedro Cerqueira

    2014-01-01

    This paper aims to assess the influence of wind power generation on the market splitting behaviour of the Iberian electricity spot markets. We use logit models to express the probability response for market splitting of day-ahead spot electricity prices together with explanatory variables like, wind speed, available transmission capacity and electricity demand. The results show that the probability of market splitting increases with the increase of wind power generation. The European intercon...

  9. Information Uncertainty in Electricity Markets: Introducing Probabilistic Offers

    DEFF Research Database (Denmark)

    Papakonstantinou, Athanasios; Pinson, Pierre

    2016-01-01

    We propose a shift from the current paradigm of electricity markets treating stochastic producers similarly to conventional ones in terms of their offers. We argue that the producers’ offers should be probabilistic to reflect the limited predictability of renewable energy generation, while we...... should design market mechanisms to accommodate such offers. We argue that the transition from deterministic offers is a natural next step in electricity markets, by analytically proving our proposal’s equivalence with a two-price conventional market....

  10. Applicability Analysis of Bidding Strategy in Electricity Market

    OpenAIRE

    Zhou Suyan; Chen Fei; Qiao Yahui; Zhang Wenzhe; Zhang Kaifeng; Yuan Kun; Dai Xuemei

    2017-01-01

    With the development of the electricity market, competition has been introduced in the generation side. It is the overall development trend of the electricity market reformulation to optimize the allocation of different resources through bidding. Therefore, it is significant to research the bidding strategies of the generation companies and the large consumers. This paper reviews the existing research methods of bidding strategy. According to the different market mechanisms, the market partic...

  11. Production inefficiency of electricity markets with hydro generation

    International Nuclear Information System (INIS)

    Philpott, Andy; Guan, Ziming; Khazaei, Javad; Zakeri, Golbon

    2010-01-01

    Electricity market designs that decentralize decision making for participants can lead to inefficiencies in the presence of nonconvexity or missing markets. This has been shown in the case of unit-commitment problems that can make a decentralized market equilibrium less efficient than a centrally planned solution. Less attention has been focused on systems with large amounts of hydro-electric generation. We describe the results of an empirical study of the New Zealand wholesale electricity market that attempts to quantify production efficiency losses by comparing market outcomes with a counterfactual central plan. (author)

  12. RESTRUCTURED ELECTRICITY MARKETS: Three States' Experiences in Adding Generating Capacity

    National Research Council Canada - National Science Library

    2002-01-01

    ...., restructured electricity markets by shifting from service provided through a regulated monopoly-the local electric utility-to service provided through open competition among the local utility and its competitors...

  13. Organisation development possibilities of Croatian electricity markets

    International Nuclear Information System (INIS)

    Toljan, I.

    1999-01-01

    Organisational development of the European Union members' power sector is defined by the obligatory legislative document D irectives 92/96 EC, 19.12.1996 . The development goal is a natural monopoly decrease and introduction of competition, having in mind environmental protection which will enable sustainable development of each member. This would provide the European economy to become globally more competitive and to protect macro economic stability more efficiently. The EU members are allowed to make their own decisions regarding the mode of implementation they will use to establish the organisation of electricity market. Non-members of EU are also involved in defining future changes. Developed non-members are more efficient in that process and promptly follow all changes. Transition countries, among them also Croatia, are trying to adjust to such demands, with different success. The aim of this paper is analyse the current Croatian power system and the possibilities if its modernisation. (author)

  14. Measuring competitiveness of the EPEX spot market for electricity

    International Nuclear Information System (INIS)

    Graf, Christoph; Wozabal, David

    2013-01-01

    The issue of market concentration in electricity markets and resulting possible anti-competitive behavior of producers is a much discussed topic in many countries. We investigate the day-ahead market for electricity at the EPEX, the largest central European market for electricity. To analyze whether generating companies use their market power to influence prices, we use a conjectural variations approach as well as a direct approach to construct marginal costs of electricity production. Given the available data, we cannot reject the hypothesis that there was no systematic abuse of market power by the suppliers of electricity on the EPEX day-ahead spot market for the years 2007–2010. These results are essentially robust when restricting the sample to high load hours, which are generally considered to be the most prone to market manipulation. -- Highlights: •We investigate the efficiency of the German spot market for electricity. •We employ a conjectural variations approach and a fundamental market model. •Peak load hours and base load hours are analyzed separately. •We find that the market was competitive from 2007 to 2010 for both base and peak hours. •Policies to promote market transparency in Germany can be regarded as successful

  15. Retail markets. Electricity and natural gas retail markets Observatory 2. Quarter 2014

    International Nuclear Information System (INIS)

    2014-06-01

    The retail markets Observatory aims to provide general monitoring indicators of electricity and natural gas retail markets in France. This Observatory is updated on a Quarterly basis and published on CRE's web site (www.cre.fr). The first part of the report summarises the highlights of the electricity market (situation, market shares, suppliers, sales, dynamic analysis, regulated prices). The natural gas market is detailed in the second part

  16. Retail markets. Electricity and natural gas retail markets Observatory 4. Quarter 2013

    International Nuclear Information System (INIS)

    2013-12-01

    The retail markets Observatory aims to provide general monitoring indicators of electricity and natural gas retail markets in France. This Observatory is updated on a Quarterly basis and published on CRE's web site (www.cre.fr). The first part of the report summarises the highlights of the electricity market (situation, market shares, suppliers, sales, dynamic analysis, regulated prices). The natural gas market is detailed in the second part

  17. Retail markets. Electricity and natural gas retail markets Observatory 1. Quarter 2014

    International Nuclear Information System (INIS)

    2014-03-01

    The retail markets Observatory aims to provide general monitoring indicators of electricity and natural gas retail markets in France. This Observatory is updated on a Quarterly basis and published on CRE's web site (www.cre.fr). The first part of the report summarises the highlights of the electricity market (situation, market shares, suppliers, sales, dynamic analysis, regulated prices). The natural gas market is detailed in the second part

  18. Retail markets. Electricity and natural gas retail markets Observatory 1. Quarter 2015

    International Nuclear Information System (INIS)

    2015-03-01

    The retail markets Observatory aims to provide general monitoring indicators of electricity and natural gas retail markets in France. This Observatory is updated on a Quarterly basis and published on CRE's web site (www.cre.fr). The first part of the report summarises the highlights of the electricity market (situation, market shares, suppliers, sales, dynamic analysis, regulated prices). The natural gas market is detailed in the second part

  19. Retail markets. Electricity and natural gas retail markets Observatory 3. Quarter 2015

    International Nuclear Information System (INIS)

    2015-09-01

    The retail markets Observatory aims to provide general monitoring indicators of electricity and natural gas retail markets in France. This Observatory is updated on a Quarterly basis and published on CRE's web site (www.cre.fr). The first part of the report summarises the highlights of the electricity market (situation, market shares, suppliers, sales, dynamic analysis, regulated prices). The natural gas market is detailed in the second part

  20. Retail markets. Electricity and natural gas retail markets Observatory 4. Quarter 2015

    International Nuclear Information System (INIS)

    2015-12-01

    The retail markets Observatory aims to provide general monitoring indicators of electricity and natural gas retail markets in France. This Observatory is updated on a Quarterly basis and published on CRE's web site (www.cre.fr). The first part of the report summarises the highlights of the electricity market (situation, market shares, suppliers, sales, dynamic analysis, regulated prices). The natural gas market is detailed in the second part

  1. Retail markets. Electricity and natural gas retail markets Observatory 1. Quarter 2016

    International Nuclear Information System (INIS)

    2016-03-01

    The retail markets Observatory aims to provide general monitoring indicators of electricity and natural gas retail markets in France. This Observatory is updated on a Quarterly basis and published on CRE's web site (www.cre.fr). The first part of the report summarises the highlights of the electricity market (situation, market shares, suppliers, sales, dynamic analysis, regulated prices). The natural gas market is detailed in the second part

  2. Retail markets. Electricity and natural gas retail markets Observatory 2. Quarter 2015

    International Nuclear Information System (INIS)

    2015-06-01

    The retail markets Observatory aims to provide general monitoring indicators of electricity and natural gas retail markets in France. This Observatory is updated on a Quarterly basis and published on CRE's web site (www.cre.fr). The first part of the report summarises the highlights of the electricity market (situation, market shares, suppliers, sales, dynamic analysis, regulated prices). The natural gas market is detailed in the second part

  3. Retail markets. Electricity and natural gas retail markets Observatory 3. Quarter 2014

    International Nuclear Information System (INIS)

    2014-09-01

    The retail markets Observatory aims to provide general monitoring indicators of electricity and natural gas retail markets in France. This Observatory is updated on a Quarterly basis and published on CRE's web site (www.cre.fr). The first part of the report summarises the highlights of the electricity market (situation, market shares, suppliers, sales, dynamic analysis, regulated prices). The natural gas market is detailed in the second part

  4. Retail markets. Electricity and natural gas retail markets Observatory 3. Quarter 2013

    International Nuclear Information System (INIS)

    2013-09-01

    The retail markets Observatory aims to provide general monitoring indicators of electricity and natural gas retail markets in France. This Observatory is updated on a Quarterly basis and published on CRE's web site (www.cre.fr). The first part of the report summarises the highlights of the electricity market (situation, market shares, suppliers, sales, dynamic analysis, regulated prices). The natural gas market is detailed in the second part

  5. Retail markets. Electricity and natural gas retail markets Observatory 4. Quarter 2014

    International Nuclear Information System (INIS)

    2014-12-01

    The retail markets Observatory aims to provide general monitoring indicators of electricity and natural gas retail markets in France. This Observatory is updated on a Quarterly basis and published on CRE's web site (www.cre.fr). The first part of the report summarises the highlights of the electricity market (situation, market shares, suppliers, sales, dynamic analysis, regulated prices). The natural gas market is detailed in the second part

  6. Evaluating the market splitting determinants: evidence from the Iberian spot electricity prices

    International Nuclear Information System (INIS)

    Figueiredo, Nuno Carvalho; Silva, Patrícia Pereira da; Cerqueira, Pedro A.

    2015-01-01

    This paper aims to assess the main determinants on the market splitting behaviour of the Iberian electricity spot markets. Iberia stands as an ideal case-study, where the high level deployment of wind power is observed, together with the implementation of the market splitting arrangement between the Portuguese and the Spanish spot electricity markets. Logit and non-parametric models are used to express the probability response for market splitting of day-ahead spot electricity prices as a function of the explanatory variables representing the main technologies in the generation mix: wind, hydro, thermal and nuclear power, together with the available transfer capacity and electricity demand. Logit models give preliminary indications about market splitting behaviour, and then, notwithstanding the demanding computational challenge, a non-parametric model is applied in order to overcome the limitations of the former models. Results show an increase of market splitting probability with higher wind power generation or, more generally, with higher availability of low marginal cost electricity such as nuclear power generation. The European interconnection capacity target of 10% of the peak demand of the smallest interconnected market might be insufficient to maintain electricity market integration. Therefore, pro-active coordination policies, governing both interconnections and renewables deployment, should be further developed. -- Highlights: •Assess determinants on market splitting behaviour of Iberian electricity markets. •Logit and non-parametric models to express market splitting probability response. •Explanatory variables: wind, hydro, thermal and nuclear power; ATC and demand. •Results: increase of market splitting probability with higher availability of low marginal cost electricity. •Coordination policies governing both interconnections and renewables deployment

  7. Dual technology energy storage system applied to two complementary electricity markets using a weekly differentiated approach

    NARCIS (Netherlands)

    Ferreira, H.L.; Staňková, K.; Peças Lopes, J.; Slootweg, J.G.; Kling, W.L.

    2017-01-01

    This paper deals with integration of energy storage systems into electricity markets. We explain why the energy storage systems increase flexibility of both power systems and energy markets and why such flexibility is desirable, particularly when variable renewable energy sources are being used in

  8. Product market integration, rents and wage inequality

    DEFF Research Database (Denmark)

    Andersen, Torben M.; Sørensen, Allan

    "protection" and "specialization" rents. In particular, wage inequality among similar workers (residual wage inequality) may be U-shaped, at first decreasing and then increasing in the process of product market integration. Consequently, there may be gains in both the efficiency and the equity dimension until......Globalization in the form of product market integration affects labour markets and produces winners and losers. While there are aggregate gains, it is in general ambiguous how inequality is affected. We explore this issue in a Ricardian model and show that it depends on the balance between...

  9. Strategies for Charging Electric Vehicles in the Electricity Market

    Directory of Open Access Journals (Sweden)

    Nina Juul

    2015-06-01

    Full Text Available This paper analyses different charging strategies for a fleet of electric vehicles. Along with increasing the realism of the strategies, the opportunity for acting on the regulating market is also included. We test the value of a vehicle owner that can choose when and how to charge; by presenting a model of four alternative charging strategies. We think of them as increasing in sophistication from dumb via delayed to deterministic and stochastic model-based charging. We show that 29% of the total savings from ‘dumb’ are due to delayed charging and that substantial additional gains come charging optimally in response to predicted spot prices, and – in some settings – additional gains from using the up and down regulating prices. Particularly, strategies are chosen from uncontrolled charging through deterministic optimization, to modelling the charging and bidding problem with stochastic programming. We show that all vehicle owners will benefit from acting more intelligently on the energy market. Furthermore, the high value of the stochastic solution shows that, in case the regulating price differs from the expected, the solution to the deterministic problem becomes infeasible.

  10. Enabling Communications in Heterogeneous Multi-Agent Systems: Electricity Markets Ontology

    Directory of Open Access Journals (Sweden)

    Gabriel SANTOS

    2016-11-01

    Full Text Available Electricity markets worldwide are complex and dynamic environments with very particular characteristics, resulting from their restructuring and evolution into regional and continental scales, along with the constant changes brought by the increasing necessity for an adequate integration of renewable energy sources. The rising complexity and unpredictability in electricity markets has increased the need for the intervenient entities in foreseeing market behaviour. Several modelling tools directed to the study of restructured wholesale electricity markets have emerged. However, they have a common limitation: the lack of interoperability between the various systems to allow the exchange of information and knowledge, to test different market models and to allow market players from different systems to interact in common market environments. This paper proposes the Electricity Markets Ontology, which integrates the essential necessary concepts related with electricity markets, while enabling an easier cooperation and adequate communication between related systems. Additionally, it can be extended and complemented according to the needs of other simulators and real systems in this area

  11. Obstacles to the use of natural gas in electric markets

    International Nuclear Information System (INIS)

    Lynch, M.M.

    1992-01-01

    A brief overview of the New England Electric System (NEES) and its current and planned natural gas fired generation is presented. Some statistics are given that indicate that electric generation is the biggest growth market for natural gas, underscoring the importance of overcoming the obstacles to the use of gas in electric generation markets. What is seen as the major obstacles to gas use in the electric power industry and some ways to overcome these obstacles are reviewed

  12. Model of the electric energy market in Poland. Assumptions, structure and operation principles

    International Nuclear Information System (INIS)

    Kulagowski, W.

    1994-01-01

    Present state of works on model of electric energy market in Poland with special consideration of bulk energy market is presented. The designed model based on progressive, evolutionary changes is so elastic, that when keeping general structure and fundamentals the particular solutions can be verified or corrected. The changes in the electric energy market are considered as an integral part of existing restructuring process of Polish electric energy sector. The rate of those changes and the mode of their introduction influence on introduction speed of the new solutions. (author). 14 refs, 4 figs

  13. EIA model documentation: Electricity market module - electricity fuel dispatch

    International Nuclear Information System (INIS)

    1997-01-01

    This report documents the National Energy Modeling System Electricity Fuel Dispatch Submodule (EFD), a submodule of the Electricity Market Module (EMM) as it was used for EIA's Annual Energy Outlook 1997. It replaces previous documentation dated March 1994 and subsequent yearly update revisions. The report catalogues and describes the model assumptions, computational methodology, parameter estimation techniques, model source code, and forecast results generated through the synthesis and scenario development based on these components. This document serves four purposes. First, it is a reference document providing a detailed description of the model for reviewers and potential users of the EFD including energy experts at the Energy Information Administration (EIA), other Federal agencies, state energy agencies, private firms such as utilities and consulting firms, and non-profit groups such as consumer and environmental groups. Second, this report meets the legal requirement of the Energy Information Administration (EIA) to provide adequate documentation in support of its statistical and forecast reports. Third, it facilitates continuity in model development by providing documentation which details model enhancements that were undertaken for AE097 and since the previous documentation. Last, because the major use of the EFD is to develop forecasts, this documentation explains the calculations, major inputs and assumptions which were used to generate the AE097

  14. EIA model documentation: Electricity market module - electricity fuel dispatch

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1997-01-01

    This report documents the National Energy Modeling System Electricity Fuel Dispatch Submodule (EFD), a submodule of the Electricity Market Module (EMM) as it was used for EIA`s Annual Energy Outlook 1997. It replaces previous documentation dated March 1994 and subsequent yearly update revisions. The report catalogues and describes the model assumptions, computational methodology, parameter estimation techniques, model source code, and forecast results generated through the synthesis and scenario development based on these components. This document serves four purposes. First, it is a reference document providing a detailed description of the model for reviewers and potential users of the EFD including energy experts at the Energy Information Administration (EIA), other Federal agencies, state energy agencies, private firms such as utilities and consulting firms, and non-profit groups such as consumer and environmental groups. Second, this report meets the legal requirement of the Energy Information Administration (EIA) to provide adequate documentation in support of its statistical and forecast reports. Third, it facilitates continuity in model development by providing documentation which details model enhancements that were undertaken for AE097 and since the previous documentation. Last, because the major use of the EFD is to develop forecasts, this documentation explains the calculations, major inputs and assumptions which were used to generate the AE097.

  15. How the physical electricity markets will work in Ontario

    International Nuclear Information System (INIS)

    Murphy, P.

    1998-01-01

    The issue of how the physical electricity markets in Ontario will operate was the focus of this presentation. Principal topics addressed included a definition of the physical market, (a mechanism through which the terms and conditions, including price, for the physical exchange of a commodity are established, and delivery is realized); a discussion on the role of the Independent Market Operator; wholesale and retail electricity markets; retail market proposals; the staging of congestion pricing; and the life cycle of physical transactions and payments. Market price components were summarized, and a typical transaction from bids and offers to billing and fund transfer was illustrated

  16. Failing electricity markets: should we shoot the pools?

    International Nuclear Information System (INIS)

    Green, Richard

    2003-01-01

    This paper discusses the electricity reforms in California and in England and Wales. In both cases, a centralised spot market played a major role, and both markets have now been abolished. This paper argues that their disappearance is not evidence that future electricity restructuring should avoid the use of spot markets. Instead, the problems in England and Wales were largely due to market power. In California, problems arising from market power and a tightening demand-supply balance were turned into a disaster because the spot market had not been backed up by hedging contracts. (Author)

  17. INTEGRATION OF ROMANIAN INSURANCES MARKET IN EU

    Directory of Open Access Journals (Sweden)

    Gheorghe MOROŞAN

    2015-08-01

    Full Text Available One of the most important phenomena of the last decade has been the convergence of the financial services industry, especially the capital and insurance markets. The convergence in the insurance industry was determined by the increased frequency and the severity of catastrophic risks, market inefficiency in the past, and the new technologies in IT and communications. These globally developments can be observed much better at EU level, one of the most integrated areas of the world, which aimed the convergence of financial market, including an important component such as insurance market. As part of the EU, Romania also aims to financial market convergence with the EU countries. The article offers an overview and an analysis of the insurance market in the EU and Romania. Through a wide series of indicators such as: the amount of insurance premiums, degree of penetration, number of employees or number of insurance companies, it will analyze the evolution of this market convergence, as per all EU countries and Romania. It will identify the stage in which the insurance market in Romania is, regarding the requirements of full integration. Finally, there will be identified factors encouraging and particularly those who are impediments to insurance market convergence in Romania.

  18. The challenges of the electricity trade in liberalised markets

    International Nuclear Information System (INIS)

    Wanzek, S.

    2001-01-01

    As a consequence of the electricity market liberalization a new market emerged allowing electr