WorldWideScience

Sample records for spot market power

  1. Effects of series compensation on spot price power markets

    International Nuclear Information System (INIS)

    Shrestha, G.B.; Wang Feng

    2005-01-01

    The operation of a deregulated power market becomes more complex as the generation scheduling is dependent on suppliers' and consumers' bids. With large number of transactions in the power market changing in time, it is more likely for some transmission lines to face congestion. Series compensation, such as TCSC, with its ability to directly control the power flow can be very helpful to improve the operation of transmission networks. The effects of TCSC on the operation of a spot price power market are studied in this paper using the modified IEEE 14-bus system. Optimal Power Flow incorporating TCSC is used to implement the spot price market. Linear bids are used to model suppliers' and consumers' bids. Issues of location and cost of TCSC are discussed. The effects of levels of TCSC compensation on wide range of system quantities are studied. The effects on the total social benefit, the spot prices, transmission congestion, total generation and consumption, benefit to individual supplier and consumer etc. are discussed. It is demonstrated that though use of TCSC makes the system more efficient and augments competition in the market, it is not easy to establish general relationships between the levels of compensation and various market quantities. Simulation studies like these can be used to assess the effects of TCSC in specific systems. (Author)

  2. Research on spot power market equilibrium model considering the electric power network characteristics

    International Nuclear Information System (INIS)

    Wang, Chengmin; Jiang, Chuanwen; Chen, Qiming

    2007-01-01

    Equilibrium is the optimum operational condition for the power market by economics rule. A realistic spot power market cannot achieve the equilibrium condition due to network losses and congestions. The impact of the network losses and congestion on spot power market is analyzed in this paper in order to establish a new equilibrium model considering the network loss and transmission constraints. The OPF problem formulated according to the new equilibrium model is solved by means of the equal price principle. A case study on the IEEE-30-bus system is provided in order to prove the effectiveness of the proposed approach. (author)

  3. 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

  4. 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

  5. Dead battery? Wind power, the spot market, and hydro power interaction in the Nordic electricity market

    OpenAIRE

    Mauritzen, Johannes

    2011-01-01

    It is well established within both the economics and power system engineering literature that hydro power can act as a complement to large amounts of intermittent energy. In particular hydro power can act as a "battery" where large amounts of wind power are installed. In this paper I use simple distributed lag models with data from Denmark and Norway. I find that increased wind power in Denmark causes increased marginal exports to Norway and that this effect is larger during periods of net ex...

  6. Spot market for uranium

    International Nuclear Information System (INIS)

    Colhoun, C.

    1982-01-01

    The spot market is always quoted for the price of uranium because little information is available about long-term contracts. A review of the development of spot market prices shows the same price curve swings that occur with all raw materials. Future long-term contracts will probably be lower to reflect spot market prices, which are currently in the real-value range of $30-$35. An upswing in the price of uranium could come in the next few months as utilities begin making purchases and trading from stockpiles. The US, unlike Europe and Japan, has already reached a supply and demand point where the spot market share is increasing. Forecasters cannot project the market price, they can only predict the presence of an oscillating spot or a secondary market. 5 figures

  7. Spot Markets Indices as Benchmarks of Formation of Future Price Trends in the Power Exchanges of Eastern Europe

    Directory of Open Access Journals (Sweden)

    Polikevych Nataliya I.

    2016-01-01

    Full Text Available The article is concerned with a theoretical generalization of the use of indices for electric power at the European spot exchanges and elaborating proposals on establishment of a similar spot index for the Ukrainian power exchange. 16 indices that are published daily by the power exchanges BSP Regional Energy Exchange, Power Exchange Central Europe, Polish Power Exchange and Opcom have been analyzed. It has been indicated that these indices are used for electricity price forecasting and monitoring the situation in the power market. The article examines the way spot indices are calculated by power exchanges, based on the value of the arithmetic average of market prices «day ahead». Imperfection of such way of calculation for price index values has been substantiated. The key characteristics of the future price index for Ukrainian spot market as benchmarks within the introduction of futures contracts for electricity have been identified.

  8. Analyzing power pools and understanding the spot market based approach to electricity trading

    Energy Technology Data Exchange (ETDEWEB)

    Goulding, D. [Ontario Hydro, Toronto, ON (Canada)

    1997-12-31

    Highlights of the evolution of the electricity industry from franchised monopoly to commoditized markets were presented. Trends in commoditized markets include increased competition, a decline in profit margins and increases in price volatility. Examples of highly regulated industries that have commoditized include long distance telephone, airline and the trucking industries. Models of possible market structures for electricity were reviewed, among them: (1) mandatory one-sided spot market, (2) mandatory spot market, less central control, (3) optional two-sided spot market, and (4) physical bilateral based market. Management of the marketplace regardless of the model used, must assure system security and system reliability and meet real-time demand on the system. Possible roles for the Independent System Operator were discussed. The principal role was predicted to be the operation of an electronic exchange for forward contracts, operation of the spot market, and acting as a clearinghouse for buyers and sellers of forward contracts. 1 tab., 4 figs.

  9. Blind spot in free power market debate. Reactive power problems are unavoidable

    International Nuclear Information System (INIS)

    Maessen, T.

    2002-01-01

    Import restrictions, switching problems, remotely readable meters appear to be temporary problems in a liberalised power market, according to statement of the Dutch the government. However, the issues surrounding reactive power management in the Dutch transmission and distribution networks are of a far more fundamental nature. The import of cheap foreign electricity could overload the domestic power grid sufficiently to compromise the security of supply [nl

  10. Hydropower planning coordinated with wind power in areas with congestion problems for trading on the spot and the regulating market

    International Nuclear Information System (INIS)

    Matevosyan, Julija; Olsson, Magnus; Soeder, Lennart

    2009-01-01

    In this paper a day-ahead planning algorithm for a multi-reservoir hydropower system coordinated with wind power is developed. Coordination applies to real situations, where wind power and hydropower are owned by different utilities, sharing the same transmission lines, though hydropower has priority for transmission capacity. Coordination is thus necessary to minimize wind energy curtailments during congestion situations. The planning algorithm accounts for the uncertainty of wind power forecasts and power market price uncertainty. Planning for the spot market and the regulating market is considered in the algorithm. The planning algorithm is applied to a case study and the results are summarized in the paper. (author)

  11. Optimal Operation and Value Evaluation of Pumped Storage Power Plants Considering Spot Market Trading and Uncertainty of Bilateral Demand

    Science.gov (United States)

    Takahashi, Kenta; Hara, Ryoichi; Kita, Hiroyuki; Hasegawa, Jun

    In recent years, as the deregulation in electric power industry has advanced in many countries, a spot market trading of electricity has been done. Generation companies are allowed to purchase the electricity through the electric power market and supply electric power for their bilateral customers. Under this circumstance, it is important for the generation companies to procure the required electricity with cheaper cost to increase their profit. The market price is volatile since it is determined by bidding between buyer and seller. The pumped storage power plant, one of the storage facilities is promising against such volatile market price since it can produce a profit by purchasing electricity with lower-price and selling it with higher-price. This paper discusses the optimal operation of the pumped storage power plants considering bidding strategy to an uncertain spot market. The volatilities in market price and demand are represented by the Vasicek model in our estimation. This paper also discusses the allocation of operational reserve to the pumped storage power plant.

  12. Oil futures and spot markets

    International Nuclear Information System (INIS)

    Samii, M.V.

    1992-01-01

    In the last decade, the oil futures market has risen to prominence and has become a major factor in influencing oil market psychology and the crude oil market. On a normal day, over 92 thousand contracts, the equivalent of 92 million barrels per day, change hands on the New York Mercantile Exchange, NYMEX. This market has provided a vehicle for hedging against risk. At the same time, it has also created opportunities for speculation. Those who previously were unable to participate in oil market transactions can now become involved through the futures market. The large number of participants in the future market and the availability of information has made this market more efficient and transparent, relative to the crude oil market. While there has been considerable in-depth analysis of other future markets, relatively little theoretical attention has focused on that of oil. This paper looks at the following issues. First, what is the relationship between futures and spot oil prices? And secondly, are futures prices a good predictor of spot crude prices in the future? (author)

  13. Power marketing

    International Nuclear Information System (INIS)

    Sioshansi, F.P.; Altman, A.M.

    1998-01-01

    One of the most significant developments in the US electric power industry in recent years has been the phenomenal growth of power marketing. What was barely a blimp on the radar screen in 1992 has turned out to be a jumbo jet. This article explains what is power marketing who are power marketers, what role play these players and what will be their longer-term impact on the traditional industry [it

  14. 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...

  15. Interactions between the German Electricity Spot Market and the Reserve Energy Market

    International Nuclear Information System (INIS)

    Graeber, Bernhardt

    2005-01-01

    Eight years after market opening, Germany has well established spot and future markets for electricity. Besides OTC and Internet broker platforms the main market place is the European Energy Exchange in Leipzig (EEX) with its spot and future market. Less known is the reserve energy market in Germany. The four German transmission system operators (TSOs) EnBW, EON, RWE and Vattenfall purchase network services on the reserve energy market. Products with specific technical requirements are primary, secondary and tertiary reserve. (Details about the technical requirements and typical means for providing the required services will be presented.) Each TSO organises a separate auction for these products - for primary and secondary reserve half-yearly, for tertiary reserve daily. Due to the technical requirements the liquidity on these markets is limited, but especially on the tertiary reserve market it is recently growing significantly due to new participants marketing several smaller municipal and industrial reserve power plants as combined bids which meet the 30 MW min. capacity requirement. Every power plant or interruptible load could not only be offered as capacity on the reserve market but could also be dispatched for the spot market. Therefore the developments of prices on these markets are not independent and opportunity costs against the spot market can be estimated for different type of plants bidding in the reserve market. Another interaction between reserve and spot market is caused by the balancing price system in Germany. Prices for balancing energy meeting deviations between load, trading balance and production of a market participant are based on quarter-hourly reserve energy costs encountered by the TSO. As unbiased load and production forecasts are not strictly enforced by the TSOs so far, part of the planned demand could be met with balancing energy if EEX spot market prices rise above expected balancing energy prices. This interrelationship has a

  16. 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

  17. Energy is not Coffee. An assessment of blind spots on energy spot-markets

    International Nuclear Information System (INIS)

    Jepma, C.J.; Spijker, E.; Van der Gaast, W.; De Jong, F.; Overmars, P.

    2006-01-01

    This study was to be the first in a series of studies on the title subject. It specifically focuses on the differences and similarities with a number of other spot-markets and aims to frame the energy spot markets and their potential development into a broader perspective. Main conclusion is that energy spot-markets differ from several other physical and non-physical spot-markets in many ways. This implies that 'perfect' energy spot-markets may inherently be (much) less perfect than other spot-markets that have approximated the stage of theoretical perfection

  18. The spot market and the spot price: applicability and limitations

    International Nuclear Information System (INIS)

    White, G. Jr.

    1987-01-01

    The subject of spot prices and their relationship to long-term contracting is addressed. The author is associated with Nuexco, which originally was called the Nuclear Exchange Corporation. They use the term Exchange Value which originated in the idea that Nuexco operated an exchange 'bank' - those with too much uranium could 'bank it', those with short-term needs could borrow from the 'bank'. If the borrower repaid slightly more or less the difference was settled using the 'exchange value'. This became used for longer-term transactions and now settling the monthly value is an important part of Nuexco's activities. The exact nature of the Exchange Value is defined. Now more and more buyers are insisting on spot market related pricing even where this is not meaningfully related to uranium production costs. (U.K.)

  19. Market integration of Virtual Power Plants

    DEFF Research Database (Denmark)

    Petersen, Mette Kirschmeyer; Hansen, Lars Henrik; Bendtsen, Jan Dimon

    2013-01-01

    develop a three stage market model, which includes Day-Ahead (Spot), Intra-Day and Regulating Power Markets. This allows us to test the hypothesis that the Virtual Power Plant can generate additional profit by trading across several markets. We find that even though profits do increase as more markets...

  20. 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.

  1. Forward reliability markets: Less risk, less market power, more efficiency

    International Nuclear Information System (INIS)

    Cramton, Peter; Stoft, Steven

    2008-01-01

    A forward reliability market is presented. The market coordinates new entry through the forward procurement of reliability options - physical capacity bundled with a financial option to supply energy above a strike price. The market assures adequate generating resources and prices capacity from the bids of competitive new entry in an annual auction. Efficient performance incentives are maintained from a load-following obligation to supply energy above the strike price. The capacity payment fully hedges load from high spot prices, and reduces supplier risk as well. Market power is reduced in the spot market, since suppliers enter the spot market with a nearly balanced position in times of scarcity. Market power in the reliability market is addressed by not allowing existing supply to impact the capacity price. The approach, which has been adopted in New England and Colombia, is readily adapted to either a thermal system or a hydro system. (author)

  2. Market based solutions for power pricing

    International Nuclear Information System (INIS)

    Wangensteen, Ivar

    2002-06-01

    The report examines how the price for effect reserves, spot market power and regulated power is formed provided ideal market conditions rule. Primarily the price determining factors in a market for power reserves are examined and how the connection between this market and the energy market (the spot market) is. In a free market there would be a balance between what the actors may obtain by operating in the open market for power reserves/regulated power on the one hand and the market for spot power on the other. Primarily we suppose that the desired amount of power reserve is known. Secondly the problem constellation is extended to comprise the size of the effect reserves i.e. the optimising of the requirement to the power reserves. The optimal amount of power reserves is obtained when there is a balance between the cost and the benefit. This optimal balance is achieved when expected macro economical loss due to outfacing balances against the cost of maintaining larger reserves. By using a simple model it is demonstrated that a system operator regulates the maximal price in the regulated market and this equals the rationing price. The actors will offer sufficient reserves even if the reserve price is zero (provided risk neutrality). If the maximal price for regulated power is lower the price of effect reserves will rise. Based on the same simple model calculations are made for how short and long term market balance will be for increasing demands

  3. Crude oil spot market pricing: Pearsonian analysis of crude oil spot market prices

    International Nuclear Information System (INIS)

    Akinnusi, Ayo

    1994-01-01

    This paper presents a brief overview of crude oil pricing before describing a study of sets of 1991 spot market prices, and examining Pearson's model. Empirical distribution characteristics for 14 crude oils are tabulated, and skewness-kurtosis relationship and implication are considered. (UK)

  4. 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...

  5. Feast or famine: 1992 spot market review

    International Nuclear Information System (INIS)

    Anon.

    1993-01-01

    There was nothing temperate about the uranium spot market in 1992. It was a year of extremes. Demand took off at a brisk pace early in the year as utilities, enticed by low U3O8 prices and interest rates, stepped up their discretionary purchases. With the NUKEM price range sinking to an all-time low of US$6.75-7.70 in November 1991, utilities reckoned that prices had bottomed out and decided to buy and hold material. Indeed, the upper end of NUKEM's range remained below $8.00 per lb for much of the first half of 1992. The main cause of low prices was the flood of imports from the crumbling Soviet Union and its successor, the Commonwealth of Independent States [CIS]. The CIS republics quickly embraced a free-market philosophy to boost their faltering economies, and several hoped to use uranium as a source of badly-needed hard currency. But they were about to get a harsh introduction to capitalism. It came in the form of government intervention, in both the US and Europe. In May, the US Department of Commerce made its preliminary determination that the uranium-producing republics of the CIS were selling material in the US at less than fair market value. The antidumping case was eventually settled in October when the CIS republics [Russia, Ukraine, Uzbekistan, Kazakhstan, Tajikistan and Kyrgyzstan] signed suspension agreements subjecting CIS origin uranium to price and quantity quotas in the US

  6. Intraday price dynamics in spot and derivatives markets

    Science.gov (United States)

    Kim, Jun Sik; Ryu, Doojin

    2014-01-01

    This study examines intraday relationships among the spot index, index futures, and the implied volatility index based on the VAR(1)-asymmetric BEKK-MGARCH model. Analysis of a high-frequency dataset from the Korean financial market confirms that there is a strong intraday market linkage between the spot index, KOSPI200 futures, and VKOSPI and that asymmetric volatility behaviour is clearly present in the Korean market. The empirical results indicate that the futures return shock affects the spot market more severely than the spot return shock affects the futures market, though there is a bi-directional causal relationship between the spot and futures markets. Our results, based on a high-quality intraday dataset, satisfy both the positive risk-return relationship and asymmetric volatility effect, which are not reconciled in the frameworks of previous studies.

  7. Power Markets. Creating a regional power market

    International Nuclear Information System (INIS)

    Beckman, K.; Belin, H.

    2009-01-01

    One article and one column in the section 'Power markets'. In the article attention is paid to the leading role of the Netherlands in the pursuit of a fully integrated North West European electricity market. the column 'View from Brussels' focuses on the 'Sustainable Energy Europe' campaign and the related EU Sustainable Energy Week in February 2009

  8. Risks versus savings in the international spot market

    International Nuclear Information System (INIS)

    Karalus, J.L.

    1988-01-01

    This paper describes the international spot market, some of its risks and difficulties, and examples of the ways potential savings can be realized. Fuel cycle goods and services available in the international spot market include uranium as U 3 O 8 , natural UF 6 , enriched UF 6 , conversion services, and enriching services

  9. Sequential bidding in day-ahead auctions for spot energy and power systems reserve

    International Nuclear Information System (INIS)

    Swider, Derk J.

    2005-01-01

    In this paper a novel approach for sequential bidding on day-ahead auction markets for spot energy and power systems reserve is presented. For the spot market a relatively simple method is considered as a competitive market is assumed. For the reserve market one bidder is assumed to behave strategically and the behavior of the competitors is summarized in a probability distribution of the market price. This results in a method for sequential bidding, where the bidding prices and capacities on the spot and reserve markets are calculated by maximizing a stochastic non-linear objective function of expected profit. With an exemplary application is shown that the trading sequence leads to increasing bidding capacities and prices in the reverse rank number of the markets. Hence, the consideration of a defined trading sequence greatly influences the mathematical representation of the optimal bidding behavior under price uncertainty in day-ahead auctions for spot energy and power systems reserve. (Author)

  10. Market Power in Power Markets: Evidence from Forward Prices of Electricity

    DEFF Research Database (Denmark)

    Christensen, Bent Jesper; Jensen, Thomas Elgaard; Mølgaard, Rune

    We examine the forward market for electricity for indications of misuse of market power, using a unique data set on OTC price indications posted by Elsam A/S, the dominant producer in Western Denmark, which is one of the price areas under the Nordic power exchange Nord Pool. The Danish Competition...... Council (the regulatory government agency) has ruled that Elsam has used its dominant position to obtain excessive spot prices over a period from July 2003 through December 2006. We show that significant forward premia exist, and that they are related both to spot market volatility and misuse of market...... are consistent across forward premium regressions and structural forward pricing models....

  11. 7 CFR 27.93 - Bona fide spot markets.

    Science.gov (United States)

    2010-01-01

    ... Southwest Markets and the New Mexico counties of Union, Quay, Curry, Roosevelt and Lea. Desert Southwest The..., Hudspeth and El Paso, all New Mexico counties except those included in the West Texas market, all counties... 7 Agriculture 2 2010-01-01 2010-01-01 false Bona fide spot markets. 27.93 Section 27.93...

  12. Power market competition

    International Nuclear Information System (INIS)

    Kelly, J.

    1998-01-01

    In the Unites States the prospect of greater competition in wholesale power market was immediately eclipsed by talk of retail competition. Attempts to move to retail competition have been costly and complex. Prudent public policy and economic analyses suggest that retail competition not be implemented until it can first be demonstrated that effective competition exists in wholesale power markets [it

  13. Spot market activity remains weak as prices continue to fall

    International Nuclear Information System (INIS)

    Anon.

    1996-01-01

    A summary of financial data for the uranium spot market in November 1996 is provided. Price ranges for the restricted and unrestricted markets, conversion, and separative work are listed, and total market volume and new contracts are noted. Transactions made are briefly described. Deals made and pending in the spot concentrates, medium and long-term, conversion, and markets are listed for U.S. and non-U.S. buyers. Spot market activity increased in November with just over 1.0 million lbs of U3O8 equivalent being transacted compared to October's total of 530,000 lbs of U3O8 equivalent. The restricted uranium spot market price range slipped from $15.50-$15.70/lb U3O8 last month to $14.85/lb - $15.25/lb U3O8 this month. The unrestricted uranium spot market price range also slipped to $14.85/lb - $15.00/lb this month from $15.00/lb - $15.45/lb in October. Spot prices for conversion and separative work units remained at their October levels

  14. Forward and Spot Prices in Multi-Settlement Wholesale Electricity Markets

    Science.gov (United States)

    Larrieu, Jeremy

    In organized wholesale electricity markets, power is sold competitively in a multi-unit multi-settlement single-price auction comprised of a forward and a spot market. This dissertation attempts to understand the structure of the forward premium in these markets, and to identify the factors that may lead forward and spot prices to converge or diverge. These markets are unique in that the forward demand is price-sensitive, while spot residual demand is perfectly inelastic and must be met in full, a crucial design feature the literature often glosses over. An important contribution of this dissertation is the explicit modeling of each market separately in order to understand how generation and load choose to act in each one, and the consequences of these actions on equilibrium prices and quantities given that firms maximize joint profits over both markets. In the first essay, I construct a two-settlement model of electricity prices in which firms that own asymmetric capacity-constrained units facing convex costs compete to meet demand from consumers, first in quantities, then in prices. I show that the forward premium depends on the costliness of spot production relative to firms' ability to exercise market power by setting quantities in the forward market. In the second essay, I test the model from the first essay with unit-level capacity and marginal cost data from the California Independent System Operator (CAISO). I show that the model closely replicates observed price formation in the CAISO. In the third essay, I estimate a time series model of the CAISO forward premium in order to measure the impact that virtual bidding has had on forward and spot price convergence in California between April 2009 and March 2014. I find virtual bidding to have caused forward and spot prices to diverge due to the large number of market participants looking to hedge against - or speculate on - the occurrence of infrequent but large spot price spikes by placing virtual demand bids.

  15. 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)

  16. 78 FR 9330 - Revision of Regulations Defining Bona Fide Cotton Spot Markets

    Science.gov (United States)

    2013-02-08

    ... Cotton Spot Markets AGENCY: Agricultural Marketing Service, USDA. ACTION: Proposed rule. SUMMARY: The... bona fide cotton spot markets in order to assure consistency with the revised Cotton Research and Promotion Act. Updated bona fide spot market definitions will allow for published spot quotes to consider...

  17. 7 CFR 27.94 - Spot markets for contract settlement purposes.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Spot markets for contract settlement purposes. 27.94... CONTAINER REGULATIONS COTTON CLASSIFICATION UNDER COTTON FUTURES LEGISLATION Regulations Spot Markets § 27.94 Spot markets for contract settlement purposes. The following are designated as spot markets for...

  18. New types of contracts. Part 1. Too high prices on the spot market for electricity

    International Nuclear Information System (INIS)

    Van Gelder, J.W.

    1999-01-01

    In two articles, the state of the art of new types of contract such as swaps, futures and spot contracts is covered. What is the situation of the Dutch deregulating market in this respect? In this first article the focus is on the spot market for electricity, while the second article in the next month's issue will deal with the gas market. Four foreign brokers are active in the Dutch electricity market in addition to Amsterdam Power Exchange (APX). The four major power producing companies, being subject to a Protocol, are not allowed to trade their power directly on the APX. That's why most of the power traded through the APX comes from outside the Netherlands. Thus, the foreign brokers complement the service package of the APX

  19. Economic Dispatch of Hydrogen Systems in Energy Spot Markets

    DEFF Research Database (Denmark)

    You, Shi; Nørgård, Per Bromand

    2015-01-01

    of energy spot markets. The generic hydrogen system is comprised of an electrolysis for hydrogen production, a hydrogen storage tank and a fuel cell system for cogeneration of electricity and heat. A case study is presented with information from practical hydrogen systems and the Nordic energy markets...

  20. 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

  1. New types of contracts. Part 2. The natural gas spot market. Many options, many constraints

    International Nuclear Information System (INIS)

    Van Gelder, J.W.

    1999-01-01

    In two articles, new types of contracts such as swaps, futures and spot contracts are surveyed. How far has the Dutch liberalised market developed in this field? This article focuses on the spot market for gas, whilst in the previous issue attention was paid to the electricity market. Bilateral spot contracts have been used in the Netherlands for years and years. The only gas exchange in Europe, the International Petroleum Exchange (IPE), was established in London, UK, at the end of 1994. This is a screen exchange, just like the APX (Amsterdam Power Exchange), where natural gas traders can enter into various types of contracts. An organised gas exchange has as yet not been established on the continent. The most suitable candidate is Zeebrugge in Belgium, where all the large players are represented. To do so, however, more transparency is required on the transmission market so that supply and demand can find each other quickly at standard conditions

  2. The impact of heat waves on electricity spot markets

    International Nuclear Information System (INIS)

    Pechan, Anna; Eisenack, Klaus

    2014-01-01

    Thermoelectric power plants depend on cooling water drawn from water bodies. Low river run-off and/or high water temperatures limit a plant's production capacity. This problem may intensify with climate change. Our study quantifies the impact of forced capacity reductions on market prices, production costs, consumer and producer surplus, as well as emissions by means of a bottom-up power generation system model. First, we simulate the German electricity spot market during the heat wave of 2006. Then we conduct a sensitivity study that accounts for future climatic and technological conditions. We find an average price increase of 11% during the heat wave 2006, which is even more pronounced during times of peak demand. Production costs accumulate to an additional but moderate 16 m. Due to the price increase, producers gain from the heat wave, whereas consumers disproportionately bear the costs. Carbon emissions in the German electricity sector increase during the heat wave. The price and cost effects are more pronounced and increase significantly if assumptions on heat-sensitive demand, hydropower capacity, net exports, and capacity reductions are tightened. These are potential additional effects of climate change. Hence, if mitigation fails or is postponed globally, the impacts on the current energy system are very likely to rise. Increases in feed-in from renewable resources and demand-side management can counter the effects to a considerable degree. Countries with a shift toward a renewable energy supply can be expected to be much less susceptible to cooling water scarcity than those with a high share of nuclear and coal-fired power plants. - Highlights: • We quantify the impact of thermal capacity reductions on the electricity market. • German heat wave 2006 caused moderate rise in production costs. • Capacity reductions have substantial impact on prices and raise producer surplus. • Impacts on prices, production cost and surplus amplify under climate

  3. Seasonality in cocoa spot and forward markets: empirical evidence

    OpenAIRE

    Sarfo, S.; Geman, Hélyette

    2012-01-01

    This paper first describes the main features of supply and demand in cocoa spot markets. A state- variable model is proposed to describe the random evolution of cocoa forward curves over time, which essentially adapts to agricultural commodities, introduced by Borovkova and Geman (2006) for energy. In contrast to most of the literature on the subject, the first state variable is not the spot price, as it combines seasonal and stochastic features and may not be observable, instead, the average...

  4. Wind power and the conditions at a liberalized power market

    International Nuclear Information System (INIS)

    Morthorst, P.E.

    2003-01-01

    Wind power is undergoing a rapid development nationally as well as globally and in a number of countries covers an increasing part of the power supply. At the same time an ongoing liberalization of power markets is taking place and to an increasing extent the owners of wind power plants will themselves have to be responsible for trading the power at the spot market and financially handling the balancing. In the western part of Denmark (Jutland/Funen area), wind-generated power from time to time covers almost 100% of total power consumption. Therefore some examples are chosen from this area to analyse in more detail how well large amounts of wind power in the short-term are handled at the power spot market. It turns out that there is a tendency that more wind power in the system in the short run leads to relatively lower spot prices, while less wind power implies relatively higher spot prices, although, with the exception of December 2002, in general no strong relationship is found. A stronger relationship is found at the regulating market, where there is a fairly clear tendency that the more wind power produced, the higher is the need for down-regulation, and, correspondingly, the less wind power produced, the higher is the need for up-regulation. In general for the Jutland/Funen area the average cost of down-regulation is calculated as 1 2 c euros/kWh regulated for 2002, while the cost of up-regulation amounts to 0 7 c euros/kWh regulated. (author)

  5. 7 CFR 27.96 - Quotations in bona fide spot markets.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Quotations in bona fide spot markets. 27.96 Section 27... Differences § 27.96 Quotations in bona fide spot markets. The price or value and differences between the price... determined by the sale of spot cotton in such spot market. Quotations shall be determined and maintained in...

  6. Development of educational Web-based simulator for the electricity spot market in Korea

    International Nuclear Information System (INIS)

    Lee, J.W.; Yang, K.M.; Jeong, Y.W.; Park, J.B.; Shin, J.R.

    2006-01-01

    Market simulation approaches are used frequently by electric utilities to resolve the spot market-related problems that are often encountered in competitive electricity markets. A well constructed market simulator offers the possibility to foresee the effect of new market structures or rules before they are actually implemented. This paper presented a newly developed educational market simulator that simulates the power exchange methods and market rules of the Two Way Bidding Pool (TWBP) in Korea. It allows users to set information related with market and market entities. In particular, it is an educational tool that enables interaction between lecturers and students via Web-based programs. Students can learn the effectiveness of an electricity spot market by bidding and examining the market with lecturers. Measures have been taken to address the problem of multi-users trying to manage the complex data sets. The developed application program is composed of 3 tiers where the middle tier is logically divided into 2 kinds of application programs. The divided application programs are interconnected by using the Web-service based on Extended Markup Technology and Hyper Text Transfer Protocol which make the distributed computing technology possible. Unlike most existing educational simulators, this one has the advantage of allowing students to make bids just like in a real market, thus showing them how the real electricity market runs and how market participants make their revenues. 10 refs., 4 tabs., 13 figs

  7. Development of educational Web-based simulator for the electricity spot market in Korea

    Energy Technology Data Exchange (ETDEWEB)

    Lee, J.W.; Yang, K.M.; Jeong, Y.W.; Park, J.B.; Shin, J.R. [Konkuk Univ., Seoul (Korea, Republic of). Dept. of Electrical Engineering

    2006-07-01

    Market simulation approaches are used frequently by electric utilities to resolve the spot market-related problems that are often encountered in competitive electricity markets. A well constructed market simulator offers the possibility to foresee the effect of new market structures or rules before they are actually implemented. This paper presented a newly developed educational market simulator that simulates the power exchange methods and market rules of the Two Way Bidding Pool (TWBP) in Korea. It allows users to set information related with market and market entities. In particular, it is an educational tool that enables interaction between lecturers and students via Web-based programs. Students can learn the effectiveness of an electricity spot market by bidding and examining the market with lecturers. Measures have been taken to address the problem of multi-users trying to manage the complex data sets. The developed application program is composed of 3 tiers where the middle tier is logically divided into 2 kinds of application programs. The divided application programs are interconnected by using the Web-service based on Extended Markup Technology and Hyper Text Transfer Protocol which make the distributed computing technology possible. Unlike most existing educational simulators, this one has the advantage of allowing students to make bids just like in a real market, thus showing them how the real electricity market runs and how market participants make their revenues. 10 refs., 4 tabs., 13 figs.

  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. Value assessment of hydrogen-based electrical energy storage in view of electricity spot market

    DEFF Research Database (Denmark)

    You, Shi; Hu, Junjie; Zong, Yi

    2016-01-01

    electricity spot market that has high price volatility due to its high share of wind power. An economic dispatch model is developed as a mixed-integer programming (MIP) problem to support the estimation of variable cost of such a system taking into account a good granularity of the technical details. Based...

  10. Market Power in Laboratory Emission Permit Markets

    International Nuclear Information System (INIS)

    Godby, R.

    2002-01-01

    Many proposals suggesting the use of markets to control pollution assume markets will be competitive. When markets do not exhibit competitive characteristics, however, should they still be expected to result in efficiency improvement relative to traditional approaches? This paper employs experimental economic methods to examine the effect of market structure on the use of marketable emissions permits. Results indicate that in a market with one dominant firm and a number of fringe firms, strategic manipulation occurs repeatedly in the laboratory as predicted by market power models, undermining the allocative and dynamic efficiency benefits such markets offer. When firms compete in a downstream product market dominated by the same single firm, market efficiency can actually be reduced with the implementation of permit markets. Final market efficiencies reflect initial endowments and are influenced by competitive conditions elsewhere in the economy, indicating that policy-makers should carefully consider whether markets are appropriate in such circumstances

  11. 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)

  12. Ownership structure and market power in the nordic power market

    International Nuclear Information System (INIS)

    Amundsen, E.S.; Bergman, L.

    1999-01-01

    The opening of Nord Pool in 1996 seriously constrained the power companies' ability to exercise market power within their national borders. Currently there is an integration process going on among the power companies in the Nord Pool area. It manifest itself in terms of take-over and reciprocal acquisition of shares in the power companies - nationally and abroad. This process may undo what the introduction of the common power market achieved in curtailing market power. The aim of this paper is to investigate the effects on market power of increased cross- ownership in the Nordic power market. (au)

  13. Production Contracts and the Spot Market Price of Hogs

    OpenAIRE

    Key, Nigel D.

    2010-01-01

    The increasing use of production contracts in the hog sector has reduced the number of spot market transactions, raised concerns about price manipulation and helped to spur legislation requiring price reporting by packers. Using data from the 2002 and 2007 Censuses of Agriculture, this study looks for evidence of market manipulation by examining whether the local prevalence of contracting affects the average price received by independent producers. The empirical approach uses a fixed-effects ...

  14. A review of the deregulated power market since market opening

    International Nuclear Information System (INIS)

    Runge, C.

    2003-01-01

    The Alberta electrical industry structure was discussed along with the market opportunities and historic market data pertaining to Alberta. The Alberta electrical industry is responsible for 20,000 kilometres of transmission lines, connections with British Columbia and Saskatchewan, operates in excess of 90 generating units, with 200 Power Pool participants. The Alberta electricity generation breakdown was provided (coal, gas, hydro), and a look at the projected growth in installed capacity provided. General information concerning the Power Pool of Alberta was presented. In discussing market opportunities, the author began by looking at the evolution of the Alberta market, noting that the Pool commenced operations in 1996. A discussion followed on real time spot market, direct sales, contract for differences (CfD), and other market opportunities. The last part of the presentation dealt with historical market data. The Alberta annual Pool price from 1996 to 2002 was presented, along with daily pool price 1996-2002. The factors affecting Pool price are: other markets, input costs, supply-demand balance, and other market elements. Alberta imports and exports were discussed, followed by a look at forward trading activity. Market evolution was addressed, including considerations in next phase of Alberta market. figs

  15. 7 CFR 27.95 - Spot markets to conform to Act and regulations.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Spot markets to conform to Act and regulations. 27.95 Section 27.95 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE... and Differences § 27.95 Spot markets to conform to Act and regulations. Every bona fide spot market...

  16. Los spots factor, esencial del marketing político

    Directory of Open Access Journals (Sweden)

    María de Jesús Origel Gutiérrez

    2000-01-01

    Full Text Available EI objetivo del presente trabajo es demostrar que en las elecciones presidenciales de julio de 2000, la forma de hacer política en México se modificó al introducir en las campanas electorales el marketing político y nuevas estrategias de comunicación, en especial los spots televisivos

  17. Price signals and investment incentives in wholesale electricity spot markets

    International Nuclear Information System (INIS)

    Vassilopoulos, Philippe

    2007-01-01

    We look at how prices from energy-only power markets can send the right signals and give the correct incentives for investments in production capacity. Through numerical simulations of spot prices over 2003-2005 we compare the investment signal sent by observed electricity prices in France and what would be competitive prices with an optimal mix and with the installed capacity. Observed prices tend to overestimate profitability for the base-load, making the signal too strong and underestimate profitability for the peak load, making the signal too weak. However, as a large share of consumers is still paying regulated tariffs, scarcity rents are capped. We simulate future prices for France for 2010 to 2020 to understand the incentives to invest. When the entry is free, the incentives to invest given by the future prices are consistent with the optimal mix including the interconnections and nuclear build is strong. With political or regulatory barriers to the construction of new power plants for new entrants (i.e. finding new sites), there are no incentives for the incumbent (that owns all existing base-load and peak load capacity) to add more nuclear capacity. In this situation, new entry would have to be coal or gas except if units are bid strategically to maintain profitability and market share. Moreover, it can also be profitable to limit prices and restrain entry in order to receive higher future revenues. When the base-load is less concentrated and instead of a dominant firm the nuclear capacity is divided into five (equal share) firms, the incentives to invest reappear and the threat of entry becomes more credible. (author) [fr

  18. 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

  19. Spatial dependencies of wind power and interrelations with spot price dynamics

    Energy Technology Data Exchange (ETDEWEB)

    Elberg, Christina; Hagspiel, Simeon

    2013-06-15

    Wind power has seen a strong growth over the last decade. Due to its high intermittency, spot prices have become more volatile and exhibit correlated behavior with wind power fed into the system. In this paper, we develop a stochastic simulation model that incorporates the spatial dependencies of wind power and its interrelations with spot prices: We employ a structural supply and demand based model for the electricity spot price that takes into account stochastic production quantities of wind power. Spatial dependencies are modeled with the help of copulas, thus linking the single turbine wind power to the aggregated wind power in a market. The model is applied to the German electricity market where wind power already today makes up a significant share of total power production. Revenue distributions and the market value of different wind power plants are analyzed. We find that the specific location of the considered wind turbine, i.e. its spatial dependency with respect to the aggregated wind power in the system, is of high relevance for its market value. Many of the analyzed locations show an upper tail dependence that adversely impacts the market value. This effect becomes more important for increasing levels of wind power penetration.

  20. Spatial dependencies of wind power and interrelations with spot price dynamics

    International Nuclear Information System (INIS)

    Elberg, Christina; Hagspiel, Simeon

    2013-01-01

    Wind power has seen a strong growth over the last decade. Due to its high intermittency, spot prices have become more volatile and exhibit correlated behavior with wind power fed into the system. In this paper, we develop a stochastic simulation model that incorporates the spatial dependencies of wind power and its interrelations with spot prices: We employ a structural supply and demand based model for the electricity spot price that takes into account stochastic production quantities of wind power. Spatial dependencies are modeled with the help of copulas, thus linking the single turbine wind power to the aggregated wind power in a market. The model is applied to the German electricity market where wind power already today makes up a significant share of total power production. Revenue distributions and the market value of different wind power plants are analyzed. We find that the specific location of the considered wind turbine, i.e. its spatial dependency with respect to the aggregated wind power in the system, is of high relevance for its market value. Many of the analyzed locations show an upper tail dependence that adversely impacts the market value. This effect becomes more important for increasing levels of wind power penetration.

  1. Influence of TCSC on congestion and spot price in electricity market with bilateral contract

    International Nuclear Information System (INIS)

    Acharya, Naresh; Mithulananthan, Nadarajah

    2007-01-01

    This paper presents a quantitative analysis of the effect of TCSC on congestion and spot price in deregulated electricity markets. The paper could also be considered as a comprehensive tutorial on the influence of TCSC in electricity market. A voluntary pool market, where the market participants can trade electricity either via a pool or through bilateral contracts is considered. The electricity market is modeled in an optimal power flow framework with the objective of maximizing the social welfare. In such formulation, the Lagrange operators associated with the equality constraints associated with real power balance give the spot prices of energy at each bus of the system. Studies are carried out with and without TCSC at peak and low loading conditions to capture the influence and to see the effectiveness of TCSC at different loading conditions. The paper further explores the effect of TCSC compensation level on the spot prices and the congestion under varying pool and bilateral loading conditions. A 5-bus test system is used for numerical studies and to showcase the influence of TCSC in an electricity market environment. (author)

  2. SMART II : the spot market agent research tool version 2.0.

    Energy Technology Data Exchange (ETDEWEB)

    North, M. J. N.

    2000-12-14

    Argonne National Laboratory (ANL) has worked closely with Western Area Power Administration (Western) over many years to develop a variety of electric power marketing and transmission system models that are being used for ongoing system planning and operation as well as analytic studies. Western markets and delivers reliable, cost-based electric power from 56 power plants to millions of consumers in 15 states. The Spot Market Agent Research Tool Version 2.0 (SMART II) is an investigative system that partially implements some important components of several existing ANL linear programming models, including some used by Western. SMART II does not implement a complete model of the Western utility system but it does include several salient features of this network for exploratory purposes. SMART II uses a Swarm agent-based framework. SMART II agents model bulk electric power transaction dynamics with recognition for marginal costs as well as transmission and generation constraints. SMART II uses a sparse graph of nodes and links to model the electric power spot market. The nodes represent power generators and consumers with distinct marginal decision curves and varying investment capital as well individual learning parameters. The links represent transmission lines with individual capacities taken from a range of central distribution, outlying distribution and feeder line types. The application of SMART II to electric power systems studies has produced useful results different from those often found using more traditional techniques. Use of the advanced features offered by the Swarm modeling environment simplified the creation of the SMART II model.

  3. Green certificates and market power in the Nordic power market

    DEFF Research Database (Denmark)

    Amundsen, Eirik S; Bergman, Lars

    2012-01-01

    principles and a numerical model based on that to investigate the Swedish TGC market operating in a setting of a common Nordic electricity market. The analysis shows that Swedish producers may exercise market power using the TGC-market but that this problem will be eliminated by opening the TGC-market......The purpose of this study is to elucidate under which circumstances, how, and to what extent market power on a Tradable Green Certificates (TGC) market can be used to affect an entire electricity market. There are basically two reasons for being concerned with this. One is that a small number...

  4. Power marketing and renewable energy

    International Nuclear Information System (INIS)

    Fang, J.M.

    1997-01-01

    Power marketing refers to wholesale and retail transactions of electric power made by companies other than public power entities and the regulated utilities that own the generation and distribution lines. The growth in power marketing has been a major development in the electric power industry during the last few years, and power marketers are expected to realize even more market opportunities as electric industry deregulation proceeds from wholesale competition to retail competition. This Topical Issues Brief examines the nature of the power marketing business and its relationship with renewable power. The information presented is based on interviews conducted with nine power marketing companies, which accounted for almost 54% of total power sales by power marketers in 1995. These interviews provided information on various viewpoints of power marketers, their experience with renewables, and their respective outlooks for including renewables in their resource portfolios. Some basic differences exist between wholesale and retail competition that should be recognized when discussing power marketing and renewable power. At the wholesale level, the majority of power marketers stress the commodity nature of electricity. The primary criteria for developing resource portfolios are the same as those of their wholesale customers: the cost and reliability of power supplies. At the retail level, electricity may be viewed as a product that includes value-added characteristics or services determined by customer preferences

  5. Market Power in Hydro-Thermal Supply

    International Nuclear Information System (INIS)

    Edin, Karl-Axel

    2006-12-01

    Despite having had a deregulated electricity market in Sweden for over ten years we still need to increase our understanding as to how deregulated electricity markets actually work and how possible problems are to be solved. One question that is always in focus is if the competition between generators in the Nordic electricity market really works the way it was intended. Many argue that the concentration in ownership of generation plants already has gone too far. Together with joint ownership in nuclear facilities and barriers for entrance, critics say that this has resulted in higher electricity prices than necessary. In this report different methods to (ex ante) study potential possibilities for generating firms to influence the electricity price (market power) and (ex post) discover possible manipulation through analysing the spot price and other observed factors on the electricity market are analysed. The purpose of the longer underlying paper is to give a comprehensive treatment of the electricity market with storage, i.e. hydro power, with an auction market organisation and to test the models on the Nordic market in order to explore the explanatory power of auction market theory and the theory of contestable market. The main theoretical effort in the paper concerns auction theory with inventories. The paper develops an inter-temporal auction model of a thermal-hydro power market. Parallel to the derivation of the basic equations a numerical model is developed in order to illustrate the results of the model. Section 2 of the present paper summarizes the basic equations (derived in the longer paper) for an inter-temporal auction thermal-hydro market. Section 3 contains the illustrations of solutions to equations for some stylized markets. In section 4 the auction model is tested on the Nordic market

  6. Market value of wind power

    NARCIS (Netherlands)

    Haan, de J.E.S.; Shoeb, M.A.; Lopes Ferreira, H.M.; Kling, W.L.

    2013-01-01

    Variability and predictability constraints of wind hinder the cost-efficient integration of wind power generation into power markets. Within the framework of EIT KIC INNOENERGY Offwindtech project, a ‘Market Value’ tool is developed. Here, the market value of wind power generation can be assessed

  7. Computation of spot prices and congestion costs in large interconnected power systems

    International Nuclear Information System (INIS)

    Mukerji, R.; Jordan, G.A.; Clayton, R.; Haringa, G.E.

    1995-01-01

    Foremost among the new paradigms for the US utility industry is the ''poolco'' concept proposed by Prof. William W. Hogan of Harvard University. This concept uses a central pool or power exchange in which physical power is traded based on spot prices or market clearing prices. The rapid and accurate calculation of these ''spot'' prices and associated congestion costs for large interconnected power systems is the central tenet upon which the poolco concept is based. The market clearing price would be the same throughout the system if there were no system losses and transmission limitations did not exist. System losses cause small differences in market clearing prices as the cost of supplying a MW at various load buses includes the cost of losses. Transmission limits may cause large differences in market clearing prices between regions as low cost generation is blocked by the transmission constraints from serving certain loads. In models currently in use in the electric power industry spot price calculations range from ''bubble diagram'' type contract path models to full electrical representation such as GE-MAPS. The modeling aspects of the full electrical representation are included in the Appendix. The problem with the bubble diagram representation is that these models are liable to produce unacceptably large errors in the calculation of spot prices and congestion costs. The subtleties of the calculation of spot prices and congestion costs are illustrated in this paper

  8. Green Certificates and Market Power on the Nordic Power Market

    International Nuclear Information System (INIS)

    Bergman, Lars; Amundsen, Eirik S

    2007-06-01

    In Sweden a market for Tradable Green Certificates (TGCs) was introduced in 2003. The purpose was to stimulate investments in electricity generation based on renewable energy sources without using direct governmental subsidies to renewable energy. More precisely the aim is to create a market where different types of renewable electricity can compete on equal terms, thus relieving governments and public agencies from being directly involved in power industry investment decisions. The purpose of this study is to elucidate under which circumstances, how, and to what extent market power in the TGC market can be used to affect the entire electricity market. There are basically two reasons for being concerned with market power in TGC markets. The first is the fact that the industry average cost curve for 'green' electricity tends to be upward sloping. This is because the cost of wind power, the main source of green electricity, depends on the location of the power plants, and that the availability of first rate sites that do not involve sizable investments in new transmission and network infrastructure, is limited. The situation is similar for environmentally friendly hydro power, and, to some extent, for other types of 'green' electricity. Thus, given the state of technology and an upper cost limit, there is a maximum amount of 'green' electricity that can be produced within a country. This means that some generators, by getting access to the suitable sites, will become dominating producers of 'green' electricity and thus may be able to exercise market power in the TGC market. The second reason for being concerned with market power in a TGC market is that, as a result of the percentage requirement, the withdrawal of a given number of TGCs from the market forces a much larger reduction of electricity consumption. Thus relatively modest exercise of market power in the TGC market may have a significant impact on the price of electricity and the allocation of resources in

  9. The regulating power market on the Nordic power exchange Nord Pool. An econometric analysis

    International Nuclear Information System (INIS)

    Skytte, K.

    1999-08-01

    What differentiates the structure of Nord Pool from other power exchanges around the world is the way the balance from the spot market is maintained until the actual, physical delivery takes place, via the regulating power market in Norway. This paper reveals the pattern of the prices on the regulating power market, by analysing the cost of being unable to fulfil the commitments made on the spot market. Some power producers with unpredictable fluctuations (e.g. wind) will need to buy regulation services. The disclosed pattern implies that these producers must pay a limited premium of readiness in addition to the spot price; this premium is independent of the amount of regulation. The level of the premium of readiness for down-regulation is shown to be strongly influenced by the level of the spot price. On the other hand, it is demonstrated that the premium for up-regulation is less correlated to the spot price. Furthermore, it is found that the amount of regulation affects the price of regulating power for up-regulation more strongly than it does for down-regulation. The disclosed cost of using the regulating power market is a quadratic function of the amount of regulation. This asymmetric cost may encourage bidders with fluctuating production to be more strategic in their way of bidding on the spot market. By using such strategies the extra costs (for example wind power) needed to counter unpredictable fluctuations may be limited. 12 refs

  10. Market Power Europe

    DEFF Research Database (Denmark)

    Kelstrup, Jesper Dahl

    2015-01-01

    Market Power Europe (MPE) constitutes an important contribution to the literature on the global role and actorness of the EU. In order to develop MPE as a theory, this contribution provides an assessment of how Russia, the USA and China have converged towards three EU trade policies in 2013....... The analysis finds that MPE fails to account for important dynamics related to externalization in the three cases. In order to improve MPE analytically, the article suggests that MPE should include three intervening variables to account for the EU’s ability to externalize its policies and act as MPE...

  11. Introduction to market power issues

    International Nuclear Information System (INIS)

    2002-01-01

    This paper presents an initial introduction to market power issues in wholesale electric power markets. Market power was described as the ability of sellers to act together to profitably maintain prices above competitive levels for a significant period of time. The two general forms of market power, vertical and horizontal market power, were described with reference to how they may be exercised. The factors that should be considered when evaluating the competitiveness of a market include: (1) market share of suppliers, (2) overall market concentration, (3) elasticity of demand, (4) shape of the industry supply curve, (5) the amount and distribution of excess supply, (6) typical contractual arrangements and the process for establishing prices, and (7) the relative ease to enter the market. It was noted that a narrow market scope allows only wholesale market sector (such as municipal utilities) to access competitive electricity supplies, however, a more expansive definition of market scope would consider the sale of electricity to industrial customers. This would allow more players to enter the Nova Scotia market. The barriers to entry for wholesale electric power markets are: (1) access to the transmission grids and services, (2) sites for new capacity development, (3) major inputs to power generation, (4) transportation of major inputs to generation, and (5) lack of liquidity

  12. Market information and price volatility in petroleum derivatives spot and future markets

    International Nuclear Information System (INIS)

    Khalid Nainar, S.M.

    1993-01-01

    This paper examines the relationship between petroleum futures trading, market information and spot prices. It tests the hypothesis that there is increased spot market information with futures trading of various petroleum derivatives for weekly data during the period January 1970 to July 1985 at the new York Mercantile Exchange. Increased market information with futures trading is indicated by the insignificance of coefficients of past prices in spot price regressions in periods with futures trading. However, the estimates of the coefficient of variation indicate that price volatility tends to increase with futures trading. Thus, traders seem better informed with futures trading although the advantages of increased market information might potentially be undermined by increased price volatility as in the case of regular gasoline. (author)

  13. Competition in electricity spot markets. Economic theory and international experience

    Energy Technology Data Exchange (ETDEWEB)

    Fehr, Nils-Henrik von der; Harbord, David

    1998-09-01

    This publication gives a survey of economic theory and international experience connected to electricity spot markets. The main purpose is to consider the attempts that have been made to apply economic theory and empirical methods to the analysis of electricity markets, and to evaluate them in light of theoretical considerations and empirical evidence. The publication describes in simple terms the basic pool pricing mechanism, and experience with pools in a number of countries. It is worth emphasizing that it is not the purpose to treat in extensive detail the structure of electricity pools around the world. Key factors of the markets in England and Wales, Norway and Australia are described in order to allow for a comparison of design issues and evaluation of competitive performance. 80 refs., 14 figs., 15 tabs.

  14. Pre-announcements of price increase intentions in liner shipping spot markets

    DEFF Research Database (Denmark)

    Chen, Gang; Rytter, Niels G M; Jiang, Liping

    2017-01-01

    competition perspective, which will indirectly indicate whether carriers are able to manipulate spot rates following GRI announcements. Taking the Far East–North Europe trade between 2009 and 2013 as an example, the paper first reveals the gradual increase of GRI frequency and size, which reflects carriers...... factors, in sequence of explanation power, are the total capacity of GRI carriers, the idling fleet size, the spot rate level, and the average ship-loading factor. Clearly the latter three factors are market fundamentals, which are unlikely to be influenced by an individual carrier in the short term....... In actual fact, the conclusion reached is that there is little evidence that carriers can manipulate and distort spot rates through GRIs...

  15. High penetration wind generation impacts on spot prices in the Australian national electricity market

    International Nuclear Information System (INIS)

    Cutler, Nicholas J.; Boerema, Nicholas D.; MacGill, Iain F.; Outhred, Hugh R.

    2011-01-01

    This paper explores wind power integration issues for the South Australian (SA) region of the Australian National Electricity Market (NEM) by assessing the interaction of regional wind generation, electricity demand and spot prices over 2 recent years of market operation. SA's wind energy penetration has recently surpassed 20% and it has only a limited interconnection with other regions of the NEM. As such, it represents an interesting example of high wind penetration in a gross wholesale pool market electricity industry. Our findings suggest that while electricity demand continues to have the greatest influence on spot prices in SA, wind generation levels have become a significant secondary influence, and there is an inverse relationship between wind generation and price. No clear relationship between wind generation and demand has been identified although some periods of extremely high demand may coincide with lower wind generation. Periods of high wind output are associated with generally lower market prices, and also appear to contribute to extreme negative price events. The results highlight the importance of electricity market and renewable policy design in facilitating economically efficient high wind penetrations. - Highlights: → In South Australia (SA) wind generation is having an influence on market prices. → Little or no correlation is found between wind generation and demand. → Wind farms in SA are receiving a lower average price than in other States. → The results highlight the importance of appropriate electricity market design.

  16. Assembling Markets for Wind Power

    DEFF Research Database (Denmark)

    Pallesen, Trine

    hand, as an economic good, wind power is said to suffer from (techno-economic) ‘disabilities’, such as high costs, fluctuating and unpredictable generation, etc. Therefore, because of its performance as a good, it is argued that the survival of wind power in the market is premised on different......This project studies the making of a market for wind power in France. Markets for wind power are often referred to as ‘political markets: On the one hand, wind power has the potential to reduce CO2-emissions and thus stall the effects of electricity generation on climate change; and on the other...... instruments, some of which I will refer to as ‘prosthetic devices’. This thesis inquires into two such prosthetic devices: The feed-in tariff and the wind power development zones (ZDE) as they are negotiated and practiced in France, and also the ways in which they affect the making of markets for wind power....

  17. 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

  18. Analysis of the efficiency of the Iberian power futures market

    International Nuclear Information System (INIS)

    Capitan Herraiz, Alvaro; Rodriguez Monroy, Carlos

    2009-01-01

    Market efficiency is analysed for the Iberian Power Futures Market and other European Power Markets, as well as other fuel markets through evaluation of ex-post Forward Risk Premium. The equilibrium price from compulsory call auctions for distribution companies within the framework of the Iberian Power Futures Market is not optimal for remuneration purposes as it seems to be slightly upward biased. In the period considered (August 2006-July 2008), monthly futures contracts behave similarly to quarterly contracts. Average risk premia have been positive in power and natural gas markets but negative in oil and coal markets. Different hypotheses are tested regarding increasing volatility with maturity and regarding Forward Risk Premium variations (decreasing with variance of spot prices during delivery period and increasing with skewness of spot prices during delivery period). Enlarged data sets are recommended for stronger test results. Energy markets tend to show limited levels of market efficiency. Regarding the emerging Iberian Power Futures Market, price efficiency is improved with market development of all the coexistent forward contracting mechanisms and with further integration of European Regional Electricity Markets. (author)

  19. Wind power and market power in competitive markets

    International Nuclear Information System (INIS)

    Twomey, Paul; Neuhoff, Karsten

    2010-01-01

    Average market prices for intermittent generation technologies are lower than for conventional generation. This has a technical reason but can be exaggerated in the presence of market power. When there is much wind smaller amounts of conventional generation technologies are required, and prices are lower, while at times of little wind prices are higher. This effect reflects the value of different generation technologies to the system. But under conditions of market power, conventional generators with market power can further depress the prices if they have to buy back energy at times of large wind output and can increase prices if they have to sell additional power at times of little wind output. This greatly exaggerates the effect. Forward contracting does not reduce the effect. An important consequence is that allowing market power profit margins as a support mechanism for generation capacity investment is not a technologically neutral policy.

  20. Spanish Power Exchange Market Concepts and Operating Experience

    International Nuclear Information System (INIS)

    Gonzalez, J. J.; Gamito, C.

    2000-01-01

    On January, 1st, 1998, the Spanish Electricity Market started operations. All generators, distributors, commercialization companies, and final consumers negotiate al power exchanges either through the spot market or using bilateral contracts. The Spanish Power Exchange Market Operator (Compania Operadora del Mercado Espanol de electricidad, OMEL) is responsible for the management of the market and for the economic settlement and billing of a transactions on the Power Exchange market, and the technical operational process handled by the System Operator. This paper describes in detail the Spanish market principles and the experience gathered through the design, installation and first two years of market operation. The paper presents also the Spanish market results from January 1998 up to December 1999 indicating each specific market results and aggregate statistics. (Author)

  1. The 1996 uranium spot market: Low volume, prices spiral upward then downward

    International Nuclear Information System (INIS)

    Anon.

    1997-01-01

    A summary of financial data for the 1996 uranium spot market is provided. The market was characterized by an overall decrease in uranium demand coupled with dramatically rising prices from January to July. Prices declined steadily during the second half of the year. Factors affecting price fall and historical spot market data are presented

  2. The market value and impact of offshore wind on the electricity spot market: Evidence from Germany

    International Nuclear Information System (INIS)

    Ederer, Nikolaus

    2015-01-01

    Highlights: • Market value of offshore wind based on feed-in and weather data is assessed. • Merit order effect caused by wind energy is simulated for 2006–2014. • Results indicate same impact of on- and offshore wind on market price and value. • Steadier wind resource offshore imposes less variability on market price. • Characteristic of variable wind feed-in cannot be blamed for price deterioration. - Abstract: Although the expansion of offshore wind has recently increased in Germany, as in other countries, it is still forced to defend its role in long-term energy policy plans, particularly against its onshore counterpart, to secure future expansion targets and financial support. The objective of this article is to investigate the economic effects of offshore wind on the electricity spot market and thus open up another perspective that has not been part of the debate about offshore vs. onshore wind thus far. A comprehensive assessment based on a large amount of market, feed-in and weather data in Germany revealed that the market value of offshore wind is generally higher than that of onshore wind. Simulating the merit order effect on the German day-ahead electricity market for the short term and long term in the years 2006–2014 aimed to identify the reason for this observation and show whether it is also an indication of a lower impact on the electricity spot market due to a steadier wind resource prevailing offshore. Although the results suggest no difference regarding the impact on market price and value, they indeed reveal that offshore wind imposes less variability on the spot market price than onshore wind. In addition, the long-term simulation proved that the ongoing price deterioration cannot be blamed on the characteristic of variable wind production

  3. A green certificate market combined with a liberalised power market

    International Nuclear Information System (INIS)

    Morthorst, P.E.

    2003-01-01

    The development of renewable energy sources is expected to play an important role in the implementation of greenhouse gas (GHG) reduction targets in the EU member states. Among the highly relevant instruments for promoting the renewable development is the establishment of a market for tradable green certificates (TGCs) and markets based on TGCs or equivalent instruments are already established a number of places, among these Australia, Holland, England, Italy and Texas. Other countries are in the preparation phase. Sweden and Belgium (Flanders) are moving fast towards certificate-schemes, while although an early mover the Danish Parliament has postponed the introduction in Denmark until 2004-2005. The initiatives for establishing national TGC-markets are very much in line with the fixed targets for renewable development launched by the EU-commission. Thus, although the different countries have not chosen the same concept for establishing national TGC-markets, nevertheless there seems to be a good starting point for establishing an international one. This paper discusses the separate introduction of an international tradable green certificate market into a liberalised power market, especially in relation to cost-effectiveness and the possible contributions to national GHG-reduction strategies. The combination of a TGC and a liberalised power market encounters a number of problems in relation to achieving national GHG-reduction targets. One of the main results from a three-country case study described in the paper is that those countries most ambitious in renewable target setting by increasing their TGC-quotas will only partly be gaining the CO 2 -reduction benefits themselves. How large a share they gain themselves will depend only on the marginal conditions at the spot market

  4. Four essays on market power in energy economics

    Energy Technology Data Exchange (ETDEWEB)

    Hansen, Petter Vegard

    2008-07-01

    Market power in energy markets is discussed intensively in both academic and public arenas. There has been an intense energy debate on market power at least since the Organization of Petroleum Exporting Countries (OPEC) exercised its market power and caused the 'oil crisis' of the 1970s, and again following the deregulation of electricity markets at the beginning of the 1990s. However, this debate is not new. In 1911, for example, the US Supreme Court divided Standard Oil into 34 separate companies using antitrust law. With increasing energy prices and the ongoing process of liberalization of electricity markets throughout the world, the topic is still relevant for future markets. The four essays in this dissertation discuss specific aspects of market power in energy markets. The first essay concerns the crude oil market, and the remaining three essays relate to market power in the Nordic and Norwegian electricity markets. In the first essay, a multi-equation dynamic econometric model tests whether the behaviour of OPEC, as a whole or as different subgroups, is consistent with the behaviour of dominant producers in the world crude oil market. The second essay is a theoretical work that introduces uncertainty in inflow to the discussion of market power in hydropower markets by analysing the effects of uncertainty in inflow on market performance under alternative assumptions about market structure. In the third essay, high-frequency data are used to analyse how price signals from the spot market affect end-user demand in the Norwegian and Swedish electricity markets. Finally, in the fourth essay, retailer and household behaviour in the Norwegian electricity market are analysed using detailed information on prices and other market characteristics. In the following section, I provide highlights from a general discussion of market power in order to set the essays included in this dissertation in context. (Author). refs., figs., tabs

  5. Independent power and cogeneration in Ontario's new competitive electricity market

    International Nuclear Information System (INIS)

    Barnstable, A.G.

    1999-01-01

    The factors influencing the initial market pricing in the early years of Ontario's new electricity market were discussed with particular insight on the potential for near term development of independent power and cogeneration. The major factors influencing prices include: (1) no increase in retail prices, (2) financial restructuring of Ontario Hydro, (3) the Market Power Mitigation Agreement, (4) tighter power plant emissions standards, and (5) an electricity supply and demand balance. Generation competition is not expected to influence market pricing in the early years of the new electricity market. Prices will instead reflect the restructuring decisions of the Ontario government. The decision to have Ontario Power Generation Inc. (OPGI) as a single generator for Ontario Hydro's generation assets will ensure that average spot market pricing in the early market years will be close to a 3.8 c/kWh revenue cap

  6. The impact of wind generation on the electricity spot-market price level and variance: The Texas experience

    International Nuclear Information System (INIS)

    Woo, C.K.; Horowitz, I.; Moore, J.; Pacheco, A.

    2011-01-01

    The literature on renewable energy suggests that an increase in intermittent wind generation would reduce the spot electricity market price by displacing high fuel-cost marginal generation. Taking advantage of a large file of Texas-based 15-min data, we show that while rising wind generation does indeed tend to reduce the level of spot prices, it is also likely to enlarge the spot-price variance. The key policy implication is that increasing use of price risk management should accompany expanded deployment of wind generation. - Highlights: → Rising wind generation in ERCOT tends to reduce electricity spot prices. → Rising wind generation in ERCOT is also likely to enlarge the spot-price variance. → Increased price risk management should accompany expanded wind power deployment.

  7. Asymmetric price responses, market integration and market power: A study of the U.S. natural gas market

    International Nuclear Information System (INIS)

    Murry, Donald; Zhu, Zhen

    2008-01-01

    We studied the market performance at selected, representative natural gas trading hubs in the U.S. and documented different price behaviors among various hubs. With NYMEX prices as the competitive benchmark, we found empirically that the spot price responses at some trading hubs were systematically asymmetric, thus demonstrating a market advantage by either buyers or sellers. We further found that the presence of market power was a very plausible explanation for this price behavior at some hubs. (author)

  8. The 1995 uranium spot market: Rising volume - rising prices

    International Nuclear Information System (INIS)

    Anon.

    1996-01-01

    1995 Uranium Spot Market volume increased by 7.8 million lbs U308 equivalent from 1994 levels to over 42.1 million lbs U308 equivalent the largest since 1991. This increased volume was accompanied by increased prices. The restricted market price rose by over $2.20/lb U308 from the January range of $9.75-$10.00 per lb U308 to the December range of $11.95-$12.25 per pound U308. The unrestricted market price rose by over $2.65/lb U308 from the January range of $7.15-$7.30 per lb U308 to the December range of $9.80-$10.15 per pound U308. Unrestricted prices rose at a relatively steady pace each month for the first half of the year and at a greater pace through the second half of the year, while restricted prices rose faster during the first half of the year and leveled out during the second half of the year. The result was a partial closure of the gap between restricted and unrestricted prices

  9. Modelling of hydro and wind power in the regulation market

    International Nuclear Information System (INIS)

    Kiviluoma, J.; Holttinen, H.; Meibom, P.

    2006-01-01

    The amount of required regulation capacity in the power system is affected by the wind power prediction errors. A model has been developed which can evaluate the monetary effects of prediction errors. The model can be used to evaluate (1) the regulation costs of wind power, (2) regulation market prices including effects related to the participation of power producers in the regulating power market, (3) value of accurate wind forecasts and (4) the effect of decreasing the length of the spot market clearance. This article discusses the problems related to developing a realistic model of the regulating power market including the interaction between the spot market and the regulating power market. There are several issues that make things complicated. (1) How to calculate the minimum amount of needed secondary (minute) reserves. Traditionally the Nordic TSOs have used an N-1 criteria in each country to determine the required amounts of positive secondary reserve, but as installed wind power capacity grows, it will become relevant to include the wind power prediction errors in the estimation of secondary reserves. (2) Consumption forecast errors and plant outages also contribute to activation of regulating power and should have stochastic input series besides wind power. (3) Risk premiums and transaction costs in the regulating power market are difficult to estimate as well as the effects of the possible use of market power. This is especially true in the Nordic system with the high share of hydro power, since the water value and hydrological limitations make things more complex than in a thermal system. (4) The available regulation capacity is not necessarily equal to the truly available capacity. All producers don't participate in the regulation market although in principle they could. (orig.)

  10. 1997 begins quietly in the spot market as prices continue to drop

    International Nuclear Information System (INIS)

    Anon.

    1997-01-01

    A summary of financial data for the uranium spot market in January 1997 is provided. Price ranges for the restricted and unrestricted markets, conversion, and separative work are listed, and total market volume and new contracts are noted. Transactions made are briefly described. Deals made and pending in the spot concentrates, medium and long-term, conversion, and markets are listed for U.S. and non-U.S. buyers

  11. THE CAUSALITY TEST BETWEEN THE VARIANCES OF SPOT AND FUTURE MARKET PRICES

    Directory of Open Access Journals (Sweden)

    EMRAH İSMAİL ÇEVİK

    2013-06-01

    Full Text Available Volatility in financial markets urges importance of risk management with respect to investors and especially firms. Information and interaction between spot and futures markets plays an important role on formation of market prices. In this study, causality and information flows are examined on spot and futures prices of ISE 100 Index, US Dollar, and Euro which are traded at Turkish Derivatives Exchange (VOB. Dynamic causality test that is originally created by Cheung and Ng (1996 is applied. Dynamic causality test results show that in the ISE 100 Index model spot prices affect futures prices and in the exchange model futures prices affect spot prices.

  12. Market Efficiency of Oil Spot and Futures: A Stochastic Dominance Approach

    NARCIS (Netherlands)

    H.H. Lean (Hooi Hooi); M.J. McAleer (Michael); W.-K. Wong (Wing-Keung)

    2010-01-01

    textabstractThis paper examines the market efficiency of oil spot and futures prices by using a stochastic dominance (SD) approach. As there is no evidence of an SD relationship between oil spot and futures, we conclude that there is no arbitrage opportunity between these two markets, and that both

  13. Artificial neural networks applied to the prediction of spot prices in the market of electric energy

    International Nuclear Information System (INIS)

    Rodrigues, Alcantaro Lemes; Grimoni, Jose Aquiles Baesso

    2010-01-01

    The commercialization of electricity in Brazil as well as in the world has undergone several changes over the past 20 years. In order to achieve an economic balance between supply and demand of the good called electricity, stakeholders in this market follow both rules set by society (government, companies and consumers) and set by the laws of nature (hydrology). To deal with such complex issues, various studies have been conducted in the area of computational heuristics. This work aims to develop a software to forecast spot market prices in using artificial neural networks (ANN). ANNs are widely used in various applications especially in computational heuristics, where non-linear systems have computational challenges difficult to overcome because of the effect named 'curse of dimensionality'. This effect is due to the fact that the current computational power is not enough to handle problems with such a high combination of variables. The challenge of forecasting prices depends on factors such as: (a) foresee the demand evolution (electric load); (b) the forecast of supply (reservoirs, hydrology and climate), capacity factor; and (c) the balance of the economy (pricing, auctions, foreign markets influence, economic policy, government budget and government policy). These factors are considered be used in the forecasting model for spot market prices and the results of its effectiveness are tested and huge presented. (author)

  14. Electricity storages - optimised operation based on spot market prices; Stromspeicher. Optimierte Fahrweise auf Basis der Spotmarktpreise

    Energy Technology Data Exchange (ETDEWEB)

    Bernhard, Dominik; Roon, Serafin von [FfE Forschungsstelle fuer Energiewirtschaft e.V., Muenchen (Germany)

    2010-06-15

    With its integrated energy and climate package the last federal government set itself ambitious goals for the improvement of energy efficiency and growth of renewable energy production. These goals were confirmed by the new government in its coalition agreement. However, they can only be realised if the supply of electricity from fluctuating renewable sources can be made to coincide with electricity demand. Electricity storages are therefore an indispensable component of the future energy supply system. This article studies the optimised operation of an electricity storage based on spot market prices and the influence of wind power production up to the year 2020.

  15. Global power: Markets and strategies

    International Nuclear Information System (INIS)

    Poirer, J.L.

    1998-01-01

    The author will first present an updated view of the global power market activity, including opportunities in power generation, transmission and distribution. This will include a review of the trends in closings and transaction flowed by type of activity and geographic area. Estimates will be based on Hagler Bailly's comprehensive database on global power transactions and project announcements. The firm has also worked with dozens of global power companies since 1990. Second, the author will review trends in terms of regulatory changes, project cost trends, developers' project experiences, and financing issues. This systematic review will be the foundation for projection of future market activity (e.g., number of closing by type of project through 2000). A forecast of future greenfield and privatization activity will be provided and the key markets will be highlighted. Third, the author will present an updated view of the competition in the global power market (including the various types of competitors and changes in their respective market posture). Finally, the author will discuss the various types of strategies and business models that are followed by key global power players

  16. Forecasting Electricity Spot Prices Accounting for Wind Power Predictions

    DEFF Research Database (Denmark)

    Jónsson, Tryggvi; Pinson, Pierre; Nielsen, Henrik Aalborg

    2013-01-01

    A two-step methodology for forecasting of electricity spot prices is introduced, with focus on the impact of predicted system load and wind power generation. The nonlinear and nonstationary influence of these explanatory variables is accommodated in a first step based on a nonparametric and time...

  17. Do regulatory mechanisms promote competition and mitigate market power? Evidence from Spanish electricity market

    International Nuclear Information System (INIS)

    Moutinho, Victor; Moreira, António C.; Mota, Jorge

    2014-01-01

    This paper estimates the relationships between bidding quantities, marginal cost and market power measures in the Spanish wholesale electricity market for two different regulatory periods: 2002–2005 and 2006–2007. Using panel econometric techniques we find differences in the impacts on bidding strategies for both periods. Hence, the marginal cost and the market power measures affect bid and net quantities. The market power measures also suggest that the coefficient is consistently positive and highly significant for both periods. Moreover, the market power and marginal costs have mixed effects according to the models proposed for both periods. In addition, our results point to the effectiveness of the different effects of mitigating the market power in the Spanish electricity market. For the 2006–2007 period, the proposed causal relationships are partially validated by the cointegration results, which assumes there is a significant causality between the Lerner Index and the marginal cost. - Highlights: • Competition and regulation in the Spanish electricity market. • Net supplier and net demander behavior in the spot market. • Panel cointegration methods used: FMOLS, PMG, MG, DFE and DOLS. • The price cap regulation is effective in mitigating market power. • Market power and marginal cost have positive effects on bidding strategies

  18. Operation of Modern Distribution Power Systems in Competitive Electricity Markets

    DEFF Research Database (Denmark)

    Hu, Weihao

    , DG units, loads and electricity price are studied. Further, the effect of energy storage systems will be considered, and an optimal operation strategy for energy storage devices in a large scale wind power system in the electricity market is proposed. The western Danish power system, which has large...... strategy for trading wind power in the Danish short-term electricity market in order to minimize the imbalance costs for regulation. A load optimization method based on spot price for demand side management in Denmark is proposed in order to save the energy costs for 3 types of typical Danish consumers...... maximum profit of the BESS is proposed. Two kinds of BESS, based on polysulfide-bromine (PSB) and vanadium redox (VRB) battery technologies, are studied. Optimal operation strategies of PEV in the spot market are then proposed in order to decrease the energy cost for PEV owners. Furthermore...

  19. 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

  20. Aggregators’ Optimal Bidding Strategy in Sequential Day-Ahead and Intraday Electricity Spot Markets

    Directory of Open Access Journals (Sweden)

    Xiaolin Ayón

    2017-04-01

    Full Text Available This paper proposes a probabilistic optimization method that produces optimal bidding curves to be submitted by an aggregator to the day-ahead electricity market and the intraday market, considering the flexible demand of his customers (based in time dependent resources such as batteries and shiftable demand and taking into account the possible imbalance costs as well as the uncertainty of forecasts (market prices, demand, and renewable energy sources (RES generation. The optimization strategy aims to minimize the total cost of the traded energy over a whole day, taking into account the intertemporal constraints. The proposed formulation leads to the solution of different linear optimization problems, following the natural temporal sequence of electricity spot markets. Intertemporal constraints regarding time dependent resources are fulfilled through a scheduling process performed after the day-ahead market clearing. Each of the different problems is of moderate dimension and requires short computation times. The benefits of the proposed strategy are assessed comparing the payments done by an aggregator over a sample period of one year following different deterministic and probabilistic strategies. Results show that probabilistic strategy reports better benefits for aggregators participating in power markets.

  1. Green power marketing

    Energy Technology Data Exchange (ETDEWEB)

    Wiltshire, S. [Selectpower Inc., Guelph, ON (Canada)

    2005-07-01

    Selectpower Inc. is an unregulated affiliate of Guelph Hydro and was formed to market green energy alternatives. Details of their Selectwind program were reviewed in this presentation. The program is available to both individuals and organizations. Customers sign a 3 or 5 year agreement to purchase monthly blocks of wind energy at a premium of $6.53 per month, which is billed on their Hydro bill. Details of the program's business strategy and branding policy were presented. The program markets itself by using full page colour newspaper ads, direct mailing and making forms available at Selectpower retail stores, mall kiosks and community events. In addition, Selectwind leaders are profiled in Enernews, and also have a quarterly newsletter. An example of an order form was provided, as well as an outline of Selectwind educational materials and details of their quality assurance procedures, EcoLogo certification and guarantees. Fifty percent of customers currently buy more than 100 kWh per month, and several customers buy 100 per cent equivalent of their electricity use as Selectwind. Minimum Selectwind purchase is 1200 kWh per year with a 3 year contract. Approximately 100 MWh are purchased every month, and 3,607,494 kWh have been sold for the life of the contracts. Selectwind's combined emissions reduction commitments are 3,206 tonnes of CO{sub 2}. It was observed that 45,000 Ontario customer using wind energy represented 6.2 MW of installed capacity. refs., tabs., figs.

  2. The Empirical Analysis of the Dynamic Prices Relationship between Cotton Spot Market and Futures Market in Xinjiang

    Institute of Scientific and Technical Information of China (English)

    2011-01-01

    The thesis analyzes the causal relationship between the cotton spot,and the tendency and impact of prices of futures markets in Xinjiang by using ADF test,co-integration analysis,Granger causality test and other econometric methods in order to discuss the interacted relationship between futures market prices of cotton and spot market prices since the futures of cotton in Xinjiang go public.The results of empirical analysis show that the spot market prices of cotton and the futures market prices in Xinjiang fluctuate prominently in the short run and tend to counterpoise in the long run;the futures market of cotton plays the role of leading the spot market prices of cotton in Xinjiang,while the spot market prices of cotton in Xinjiang impacts little on the futures market prices.The corresponding countermeasures are put forward.The government should continuously perfect the construction of the futures market of cotton in Xinjiang,so as to exert the function of price discovery and the function of hedging,and promote the development of cotton industry in Xinjiang.

  3. The strategic use of forward contracts: Applications in power markets

    Science.gov (United States)

    Lien, Jeffrey Scott

    This dissertation develops three theoretical models that analyze forward trading by firms with market power. The models are discussed in the context of recently restructured power markets, but the results can be applied more generally. The first model considers the profitability of large firms in markets with limited economies of scale and free entry. When large firms apply their market power, small firms benefit from the high prices without incurring the costs of restricted output. When entry is considered, and profit opportunity is determined by the cost of entry, this asymmetry creates the "curse of market power;" the long-run profits of large firms are reduced because of their market power. I suggest ways that large power producers can cope with the curse of market power, including the sale of long-term forward contracts. Past research has shown that forward contracts can demonstrate commitment to aggressive behavior to a competing duopolist. I add explicitly modeled entry to this literature, and make the potential entrants the audience of the forward sale. The existence of a forward market decreases equilibrium entry, increases the profits of large firms, and enhances economic efficiency. In the second model, a consumer representative, such as a state government or regulated distribution utility, bargains in the forward market on behalf of end-consumers who cannot organize together in the spot market. The ability to organize in forward markets allows consumers to encourage economic efficiency. When multiple producers are considered, I find that the ability to offer contracts also increases consumer surplus by decreasing the producers' profits. In some specifications of the model, consumers are able to capture the full gains from trade. The third model of this dissertation considers the ability of a large producer to take advantage of anonymity by randomly alternating between forward sales and forward purchases. The large producer uses its market power to

  4. Spot markets vs. long-term contracts - modelling tools for regional electricity generating utilities

    International Nuclear Information System (INIS)

    Grohnheit, P.E.

    1999-01-01

    A properly organised market for electricity requires that some information will be available for all market participants. Also a range of generally available modelling tools are necessary. This paper describes a set of simple models based on published data for analyses of the long-term revenues of regional utilities with combined heat and power generation (CHP), who will operate a competitive international electricity market and a local heat market. The future revenues from trade on the spot market is analysed using a load curve model, in which marginal costs are calculated on the basis of short-term costs of the available units and chronological hourly variations in the demands for electricity and heat. Assumptions on prices, marginal costs and electricity generation by the different types of generating units are studied for selected types of local electricity generators. The long-term revenue requirements to be met by long-term contracts are analysed using a traditional techno-economic optimisation model focusing on technology choice and competition among technologies over 20.30 years. A possible conclusion from this discussion is that it is important for the economic and environmental efficiency of the electricity market that local or regional generators of CHP, who are able to react on price signals, do not conclude long-term contracts that include fixed time-of-day tariff for sale of electricity. Optimisation results for a CHP region (represented by the structure of the Danish electricity and CHP market in 1995) also indicates that a market for CO 2 tradable permits is unlikely to attract major non-fossil fuel technologies for electricity generation, e.g. wind power. (au)

  5. Power plant engineering for overseas market

    Energy Technology Data Exchange (ETDEWEB)

    Chun, K.S.

    1994-12-31

    Korea`s experience in power plant engineering for the overseas market is reviewed. The following topics are discussed: the Asian electric power market, ordering characteristics, country situations, and overseas market requirements.

  6. Some models for electric power price clearing in liberalized market area

    International Nuclear Information System (INIS)

    Chogelja, Goran; Pavlov, Risto

    2001-01-01

    This paper presents some of the basic models for electrical energy price clearing in liberalized market area and competition on level of consumption and level of production. As an example the Amsterdam power exchange APX (spot market) is given and some of another types of markets and methodology for pricing are presented. In detal 'clearing pricing mechanism in day athead market' from the Amsterdam power exchange is presented as well as the methodology for market balancing and financial clearing. (Original)

  7. 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.)

  8. Real-time versus day-ahead market power in a hydro-based electricity market

    OpenAIRE

    Tangerås, Thomas P.; Mauritzen, Johannes

    2014-01-01

    We analyse in a theoretical framework the link between real-time and day-ahead market performance in a hydro-based and imperfectly competitive wholesale electricity market. Theoretical predictions of the model are tested on data from the Nordic power exchange, Nord Pool Spot (NPS).We reject the hypothesis that prices at NPS were at their competitive levels throughout the period under examination. The empirical approach uses equilibrium prices and quantities and does not rely on bid data nor o...

  9. Investigate Volatility Jumps in Chinese Stock Index Future and Spot Markets Based on Realized Volatility

    Institute of Scientific and Technical Information of China (English)

    Zhang qiang

    2014-01-01

    This paper aims to investigate Chinese stock index future and spot market's volatility jumps characteristics by using recentlydeveloped jumpstest(Barndorff-Nielsenand Shephard,2004).Thedataisoneyearhigh frequencydatafromthe period19/04/2012 to 19/04/2013. The empirical results show two important points. Firstly, the logarithm of adjusted realized volatility shows a high degree of autocorrelation and folows a normal distribution nearly perfect. These characteristics show a potential high forecast ability. Secondly,thedailyrealizedvolatilityjumpsshowalowdegreeofautocorrealtionbutwithsignificantvolatilityclusters.Ingeneral,thejumps component has a low percentage in realized volatility estimation for both future and spot market. On average, there is one significant jumpswithinevery ten continue trading days.Spotmarkets showshigherdegree of jumps,anda rapidly jumpscharacterises.It implies that jumps may transmission from spot to future market, and spot market dominate future market at some degree.

  10. Equilibrium pricing in electricity markets with wind power

    Science.gov (United States)

    Rubin, Ofir David

    precision is still low. Therefore, it is crucial that the uncertainty in forecasting wind power is considered when modeling trading behavior. Our theoretical framework is based on finding a symmetric Cournot-Nash equilibrium in double-sided auctions in both forwards and spot electricity markets. The theoretical framework allows for the first time, to the best of our knowledge, a model of electricity markets that explain two main empirical findings; the existence of forwards premium and spot market mark-ups. That is a significant contribution since so far forward premiums have been explained exclusively by the assumption of risk-averse behavior while spot mark-ups are the outcome of the body of literature assuming oligopolistic competition. In the next step, we extend the theoretical framework to account for deregulated electricity markets with wind power. Modeling a wind-integrated electricity market allows us to analyze market outcomes with respect to three main factors; the introduction of uncertainty from the supply side, ownership of wind power capacity and the geographical diversification of wind power capacity. For the purpose of modeling trade in electricity forwards one should simulate the information agents have regarding future availability of aggregate wind power. This is particularly important for modeling accurately traders' ability to predict the spot price distribution. We develop a novel numerical methodology for the simulation of the conditional distribution of regional wind power at the time of trading short-term electricity forwards. Finally, we put the theoretical framework and the numerical methodology developed in this study to work by providing a detailed computational experiment examining electricity market outcomes for a particular expansion path of wind power capacity.

  11. Stochastic factor model for electricity spot price-the case of the Nordic market

    International Nuclear Information System (INIS)

    Vehvilaeinen, Iivo; Pyykkoenen, Tuomas

    2005-01-01

    This paper presents a stochastic factor based approach to mid-term modeling of spot prices in deregulated electricity markets. The fundamentals affecting the spot price are modeled independently and a market equilibrium model combines them to form spot price. Main advantage of the model is the transparency of the generated prices because each underlying factor and the dynamics between factors can be modeled and studied in detail. Paper shows realistic numerical examples on the forerunner Scandinavian electricity market. The model is used to price an exotic electricity derivative

  12. Stochastic factor model for electricity spot price - the case of the Nordic market

    International Nuclear Information System (INIS)

    Vehvilainen, I.; Pyykkoenen, T.

    2005-01-01

    This paper presents a stochastic factor based approach to mid-term modeling of spot prices in deregulated electricity markets. The fundamentals affecting the spot price are modeled independently and a market equilibrium model combines them to form spot price. Main advantage of the model is the transparency of the generated prices because each underlying factor and the dynamics between factors can be modeled and studied in detail. Paper shows realistic numerical examples on the forerunner Scandinavian electricity market. The model is used to price an exotic electricity derivative. (author)

  13. Market efficiency of oil spot and futures: A mean-variance and stochastic dominance approach

    International Nuclear Information System (INIS)

    Lean, Hooi Hooi; McAleer, Michael; Wong, Wing-Keung

    2010-01-01

    This paper examines the market efficiency of oil spot and futures prices by using both mean-variance (MV) and stochastic dominance (SD) approaches. Based on the West Texas Intermediate crude oil data for the sample period 1989-2008, we find no evidence of any MV and SD relationships between oil spot and futures indices. This infers that there is no arbitrage opportunity between these two markets, spot and futures do not dominate one another, investors are indifferent to investing spot or futures, and the spot and futures oil markets are efficient and rational. The empirical findings are robust to each sub-period before and after the crises for different crises, and also to portfolio diversification.

  14. Market efficiency of oil spot and futures: A mean-variance and stochastic dominance approach

    Energy Technology Data Exchange (ETDEWEB)

    Lean, Hooi Hooi [Economics Program, School of Social Sciences, Universiti Sains Malaysia (Malaysia); McAleer, Michael [Econometric Institute, Erasmus School of Economics, Erasmus University Rotterdam, and, Tinbergen Institute (Netherlands); Wong, Wing-Keung, E-mail: awong@hkbu.edu.h [Department of Economics, Hong Kong Baptist University (Hong Kong)

    2010-09-15

    This paper examines the market efficiency of oil spot and futures prices by using both mean-variance (MV) and stochastic dominance (SD) approaches. Based on the West Texas Intermediate crude oil data for the sample period 1989-2008, we find no evidence of any MV and SD relationships between oil spot and futures indices. This infers that there is no arbitrage opportunity between these two markets, spot and futures do not dominate one another, investors are indifferent to investing spot or futures, and the spot and futures oil markets are efficient and rational. The empirical findings are robust to each sub-period before and after the crises for different crises, and also to portfolio diversification.

  15. Market efficiency of oil spot and futures. A mean-variance and stochastic dominance approach

    Energy Technology Data Exchange (ETDEWEB)

    Lean, Hooi Hooi [Economics Program, School of Social Sciences, Universiti Sains Malaysia (Malaysia); McAleer, Michael [Econometric Institute, Erasmus School of Economics, Erasmus University Rotterdam (Netherlands); Wong, Wing-Keung [Department of Economics, Hong Kong Baptist University (China); Tinbergen Institute (Netherlands)

    2010-09-15

    This paper examines the market efficiency of oil spot and futures prices by using both mean-variance (MV) and stochastic dominance (SD) approaches. Based on the West Texas Intermediate crude oil data for the sample period 1989-2008, we find no evidence of any MV and SD relationships between oil spot and futures indices. This infers that there is no arbitrage opportunity between these two markets, spot and futures do not dominate one another, investors are indifferent to investing spot or futures, and the spot and futures oil markets are efficient and rational. The empirical findings are robust to each sub-period before and after the crises for different crises, and also to portfolio diversification. (author)

  16. The Nordic power exchange Nord pool and the Nordic model for a liberalised power market

    International Nuclear Information System (INIS)

    Houmoller, A. P.

    2000-01-01

    As the first countries in the world, the Nordic countries Norway, Sweden, Finland and denmark have established a common, multinational power exchange. By means of this common power exchange, these countries also have established a common power market. this is also the first - and for the time being - the only place in the world, where you can find a multinational, truly competitive power market. This Nordic model has attracted much interest from other countries in Europe, Asia, North America and South America. The presentation will explain, how the common power exchange makes it possible for the four countries and the five system operators in Scandinavia physically and financially to operate a common, multinational, competitive power market. The presentation will explain how this systems works in the Nordic countries by discussion the following items: - The non-commercial players: The Transmission System Operators and the local grid operators; - The market players: the producers, the retailers, the traders, the brokers and the end users; - The access to the grid: The point tariff system; - The fairness towards the market players and the security of supply: The balancing power and the regulating power; - The power exchange handles bottlenecks in the grid. The presentation will explain how this is done and will demonstrate how this gives the power market a bottleneck handing method which:- Is neutral and fair towards all the market players, - Ensures that all the capacity of any bottleneck is utilised during every hour of operation, - Is extremely easy to use for the Transmission System Operators - also if the bottleneck is cross-border bottleneck; - The Nord Pool spot market Elspot; - The Nord Pool futures market Eltermin; - Area prices; - How financial contracts replace physical contracts when the power market is liberalised; - The day-to-day market and the market for long-term contracts in a liberalised power market; - How to eliminate the c ounter party risk

  17. Investments in liberalised power markets

    International Nuclear Information System (INIS)

    Grenaa Jensen, S.; Meibom, P.

    2005-01-01

    There is considerable uncertainty in the Nordic electricity system with respect to the long-term development in production capacity. The process towards liberalisation of the electricity sector started with a situation of a large capacity margin, but this margin is gradually vanishing. Since the potential investors in new production capacity are unaccustomed with investments under the new regime, it is unknown if and when investments will take place. The purpose of the present study is to analyze if and when investors choose to invest in new electricity production capacity depending on their existing portfolio of power producing units. Electricity price scenarios generated with a partial equilibrium model (Balmorel) are combined with a model of investment decisions. In this, various scenarios concerning the development in the Nordic power market, such as new transmission lines between neighbouring countries, more installed wind power, and changes in CO 2 emission trading costs, are used to investigate the consequences for investments in a natural gas fired, combined cycle power plant. The main result of the analysis is that new investments are highly sensitive to investors existing power production portfolio, as new production units affect the merit order in the power market, i.e. compete with the existing power plants. (au)

  18. Modeling market power in Korea's emerging power market

    International Nuclear Information System (INIS)

    Ahn, Nam-sung; Niemeyer, Victor

    2007-01-01

    The Korean power market is being formed from the unbundled generation, transmission and distribution assets of Korea Electric Power Corporation. The KEPCO generation has been allocated to six independent gencos with a combined generating capacity of 46,629 MW in 2002. This gave an 11% margin over the peak load that year (41,921 MW). One of the concerns for any power market is whether individual participants can increase profits (and prices) by withholding generation from the market. To address this concern, a Cournot-based model of Korean power system was created and applied to a set of loads representing the load duration curve for Korea's system loads in 2002. Our simulation results show a strong possibility for exercise of market power to increase market price in Korean market. Under tight market conditions, even 1 GW of withholding can cause a large increase in market price. If loads unexpectedly grow faster than the 5% recent experience, the gencos will have the collective ability and incentive to spike prices further. Vesting contracts can reduce the incentive to act strategically. Requiring that the gencos offer 50% of their capacity in long-term forward contracts greatly reduces the payoff to act strategically, and requiring vesting for 75% of their capacity results in prices that are essentially the same as the competitive equilibrium. Depending on the price for the vesting contracts, this policy can reduce the incentives to add new generation by gencos or the competitive fringe. Another approach to reducing the effects of market power is establishing demand-response programs, simulated here by increasing the elasticity of overall demand. These programs can reduce the incentives to withhold capacity, but to a lesser degree than vesting contracts. The genco with the greatest ability to influence prices through withholding is the largest, KNHP. However, acting on its own, without the support of the other gencos, its ability to raise prices is limited. This

  19. 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.

  20. 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.

  1. 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)

  2. 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.

  3. Pricing of reserves. Valuing system reserve capacity against spot prices in electricity markets

    International Nuclear Information System (INIS)

    Just, Sebastian; Weber, Christoph

    2008-01-01

    This paper models the interdependencies between markets for secondary reserve capacity and spot electricity to derive the pricing of reserves under equilibrium conditions. Starting with the indifference condition between offering in both markets, the reservation price is derived from the opportunity cost consideration and the unit commitment conditions in a fundamental interrelated market framework. The reserve market examined compares widely to the German market for secondary reserves, but the general approach may also be used to investigate other reserve markets. The approach explores and formalizes the influence of reserve capacity on the spot market supply function. A numerical solution procedure is provided to this non-trivial case of market interaction. The model is used to estimate the expected reservation price development over the last years in Germany. (author)

  4. Underdeveloped spot markets and futures trading: The Soya Oil exchange in India

    OpenAIRE

    Bharat Ramaswami; Jatinder Bir Singh

    2006-01-01

    Abstract The limited presence of futures exchanges in developing countries where commodity markets fall short of the ideal underscore the importance of understanding the relation between spot and futures markets. The paper examines the exceptional success of the soya oil contract at the National Board of Trade (NBOT) in India. The paper asks whether the NBOT contract exhibits the fundamental features of mature futures markets in terms of its use by hedgers. If the market offers arbitrage oppo...

  5. 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.

  6. The role of price elastic demand in market power in the Nordic electricity markets

    International Nuclear Information System (INIS)

    Ravn, H.F.

    2004-01-01

    The paper discusses the modelling and analysis of market power and price elastic demand in the Nordic electricity spot market, Nordpool. The modelling of market power in the electricity sector must take into account a number of features that are specific to the electricity sector. First, electricity cannot be stored, but must be produced simultaneously with consumption. This aspect is, however, modified by the possibility of using hydro reservoirs as an indirect electricity storage. Second, the electricity transmission network plays an important role by breaking the market into several geographically separate sub-markets with different prices. Moreover, the specific bottlenecks may differ from hour to hour, according to the balance between supply and demand in each sub-market. Third, the demand side is presently characterised by very limited experience with hour to-hour-changes in electricity prices and very limited experience with short time adjustments of electricity consumption in response to changes in the electricity price. In the present paper three basic models for supply side competition on the Nordpool spot market will be presented, viz., perfect competition, Cournot competition and Supply Function Equilibrium. The models represent price and quantity settlement, including determination of price areas (bottle necks), in accordance with the way the Nordpool market functions. The models will incorporate electricity demand which is responsive to the electricity price. The paper describes the role of demand response for the determination of the electricity prices in each of the three supply side competition models. (au)

  7. The relationship between spot and futures prices in the Nord Pool electricity market

    International Nuclear Information System (INIS)

    Botterud, Audun; Kristiansen, Tarjei; Ilic, Marija D.

    2010-01-01

    We analyze 11 years of historical spot- and futures prices from the hydro-dominated Nord Pool electricity market. We find that futures prices tend to be higher than spot prices. The average convenience yield is therefore negative, but varies by season and depends on the storage levels in hydro reservoirs. The average realized return on holding a long position in the futures market is also negative. The negative convenience yield and risk premium contrast empirical findings in most other commodity markets. We argue that differences between the supply and demand sides in terms of risk preferences and the ability to take advantage of short-term price variations can contribute to explain the observed relationship between spot- and futures prices. In addition, our analysis shows that the relationship between spot and futures prices is clearly linked to the physical state of the system, such as hydro inflow, reservoir levels, and demand. (author)

  8. 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

  9. Market Design and Supply Security in Imperfect Power Markets

    DEFF Research Database (Denmark)

    Schwenen, Sebastian

    2014-01-01

    Supply security in imperfect power markets is modelled under different market designs. In a uniform price auction for electricity with two firms, strategic behaviour may leave firms offering too few capacities and unable to supply all realized demand. Market design that relies oncapacity markets...... increases available generation capacities for sufficiently high capacity prices and consequently decreases energy prices. However, equilibrium capacity prices are non-competitive. Capacity markets can increase security of supply, but cannot mitigate market power, which is exercised in the capacity market...

  10. Carbon auctions, energy markets and market power: An experimental analysis

    International Nuclear Information System (INIS)

    Dormady, Noah C.

    2014-01-01

    This paper provides an experimental analysis of a simultaneous energy-emissions market under conditions of market power. The experimental design employs real-world institutional features; including stochastic demand, permit banking, inter-temporal (multi-round) dynamics, a tightening cap, and resale. The results suggest that dominant firms can utilize energy-emissions market linkages to simultaneously inflate the price of energy and suppress the price of emissions allowances. Whereas under prior market designs, regulators were concerned with dominant firms exercising their market power over the emissions market to exclude rivals and manipulate the permit market by hoarding permits; the results of this paper suggest that this strategy is less profitable to dominant firms in contemporary auction-based markets than strategic capacity withholding in the energy market and associated demand reduction in the emissions market. - Highlights: • Laboratory simulation of joint energy-emissions market. • Evaluates market power under collusion and real-world institutional features. • Dominant firms can exercise market power to inflate energy prices. • Dominant firms can exercise market power to suppress emissions prices. • Supply withholding is an implicit demand reduction in the emissions market

  11. Large-scale Wind Power integration in a Hydro-Thermal Power Market

    OpenAIRE

    Trøtscher, Thomas

    2007-01-01

    This master thesis describes a quadratic programming model used to calculate the spot prices in an efficient multi-area power market. The model has been adapted to Northern Europe, with focus on Denmark West and the integration of large quantities of wind power. In the model, demand and supply of electricity are equated, at an hourly time resolution, to find the spot price in each area. Historical load values are used to represent demand which is assumed to be completely inelastic. Supply i...

  12. A great potential for market power

    International Nuclear Information System (INIS)

    Trong, Maj Dang

    2003-01-01

    In a report the competition authorities of Norway, Sweden and Denmark conclude that there is a great potential for exerting market power in the Nordic countries. Bottlenecks in the transmission grid divide the Nordic market in shifting constellations of geographic markets and the market concentration in each market may therefore become very high

  13. Forecasting volatility and spillovers in crude oil spot, forward and future markets

    NARCIS (Netherlands)

    C-L. Chang (Chia-Lin); M.J. McAleer (Michael); R. Tansuchat (Roengchai)

    2009-01-01

    textabstractCrude oil price volatility has been analyzed extensively for organized spot, forward and futures markets for well over a decade, and is crucial for forecasting volatility and Value-at-Risk (VaR). There are four major benchmarks in the international oil market, namely West Texas

  14. Analyzing and Forecasting Volatility Spillovers and Asymmetries in Major Crude Oil Spot, Forward and Futures Markets

    NARCIS (Netherlands)

    C-L. Chang (Chia-Lin); M.J. McAleer (Michael); R. Tansuchat (Roengchai)

    2010-01-01

    textabstractCrude oil price volatility has been analyzed extensively for organized spot, forward and futures markets for well over a decade, and is crucial for forecasting volatility and Value-at-Risk (VaR). There are four major benchmarks in the international oil market, namely West Texas

  15. Transmission rights and market power

    International Nuclear Information System (INIS)

    Bushnell, J.

    1999-01-01

    Most of the concerns about physical transmission rights relate to the ability to implicitly or explicitly remove that transmission capacity from the market-place. Under a very strict form of physical right, owners could simply choose not to sell it if they don't want to use it. Modifications that require the release of spare capacity back into an open market could potentially alleviate this problem but there is concern that such releases would not occur far enough in advance to be of much use to schedulers. Similarly, the transmission capacity that is made available for use by non-rights holders can also be manipulated by the owners of transmission rights. The alternative form, financial transmission rights, provide to their owners congestion payments, but physical control of transmission paths. In electricity markets such as California's, even financial transmission rights could potentially be utilized to effectively withhold transmission capacity from the marketplace. However, methods for withholding transmission capacity are somewhat more convoluted, and probably more difficult, for owners of financial rights than for owners of physical rights. In this article, the author discusses some of the potential concerns over transmission rights and their use for the exercise of various forms of market power

  16. Money, Markets and Social Power

    Directory of Open Access Journals (Sweden)

    Garry Jacobs

    2016-05-01

    Full Text Available The future science of Economics must be human-centered, value-based, inclusive, global in scope and evolutionary in perspective. It needs to be fundamentally interdisciplinary to reflect the increasingly complex sectoral interconnections that characterize modern society. It must also be founded on transdisciplinary principles of social existence and human development that constitute the theoretical foundation for all the human sciences. This paper examines three fundamental aspects of modern economy to illustrate the types of issues and perspectives relevant to a reformulation of Economics framed within a broader political, social, cultural, psychological and ecological context. It examines the social forces responsible for the present functioning of economies, which can be effectively addressed and controlled only when they are made conscious and explicit. Whatever the powers that have shaped its development in the past, the rightful aim of economic science is a system of knowledge that promotes the welfare and well-being of all humanity. Markets and money are instruments for the conversion of social potential into social power. They harness the power of organization to transform human energies into the capacity for social accomplishment. The distribution of rights and privileges in society determines how these social institutions function and who benefits. Freedom means access to social power and is only possible in the measure all forms of that power—political, economic and social—are equitably distributed. The current system is inherently biased in favor of privileged elites reinforcing domination by the more powerful. The emergence of the individual is the vanguard of social evolution and the widest manifestation of creative individuality is its pinnacle. This emergence can only be fully achieved in conditions of freedom and equality. Economic theory needs to make explicit the underlying forces determining the distribution of power and

  17. Optimal operation strategies of compressed air energy storage (CAES) on electricity spot markets with fluctuating prices

    DEFF Research Database (Denmark)

    Lund, Henrik; Salgi, Georges; Elmegaard, Brian

    2009-01-01

    on electricity spot markets by storing energy when electricity prices are low and producing electricity when prices are high. In order to make a profit on such markets, CAES plant operators have to identify proper strategies to decide when to sell and when to buy electricity. This paper describes three...... plants will not be able to achieve such optimal operation, since the fluctuations of spot market prices in the coming hours and days are not known. Consequently, two simple practical strategies have been identified and compared to the results of the optimal strategy. This comparison shows that...... independent computer-based methodologies which may be used for identifying the optimal operation strategy for a given CAES plant, on a given spot market and in a given year. The optimal strategy is identified as the one which provides the best business-economic net earnings for the plant. In practice, CAES...

  18. Market power behaviour in the danish food marketing chain

    DEFF Research Database (Denmark)

    Jensen, Jørgen Dejgård

    2009-01-01

    The paper presents and demonstrates an econometric approach to analysing food industry firms' market pricing behaviour within the framework of translog cost functions and based on firm-level accounts panel data. The study identifies effects that can be interpreted as firms' market power behaviour...... in output or input markets. The most robust indications of market power behaviour in output markets are found in the pork and poultry processing sectors, as well as for firms in the bakeries sector. On the other hand, the most robust market power behaviour indications regarding input markets are found...... for poultry processing. In general, the patterns with regard to market power behaviour seem to be more clearly identified in the processing sectors than in the distribution sectors....

  19. Market design and supply security in imperfect power markets

    International Nuclear Information System (INIS)

    Schwenen, Sebastian

    2014-01-01

    Supply security in imperfect power markets is modelled under different market designs. In a uniform price auction for electricity with two firms, strategic behaviour may leave firms offering too few capacities and unable to supply all realized demand. Market design that relies on capacity markets increases available generation capacities for sufficiently high capacity prices and consequently decreases energy prices. However, equilibrium capacity prices are non-competitive. Capacity markets can increase security of supply, but cannot mitigate market power, which is exercised in the capacity market instead of the energy market. - Highlights: • I model two power generating firms who compete to serve stochastic demand in a multiunit uniform price auction. • In equilibrium, blackout probabilities can arise through capacity withholding. • Capacity mechanisms decrease capacity withholding and the expected energy price. • With dominant firms, capacity mechanisms are only effective if capacity prices are non-competitive and include a mark-up for leaving the energy-only market optimum

  20. Peak Power Markets for Satellite Solar Power

    Science.gov (United States)

    Landis, Geoffrey A.

    2002-01-01

    This paper introduces first Indonesia, comprises 15,000 islands, has land area of two millions square kilometers. Extending from 95 to 141 degrees East longitude and from 6 degrees North to 11 degrees South latitude. Further the market of the Space Solar Power/SPS must be worldwide, including Indonesia. As we know, it can provide electricity anywhere in the world from the Earth's orbit, mostly Indonesia an equator country. We have to perform case studies of various countries to understand their benefits and disadvantages provided by the SSP, because each country has much different condition on energy from other countries. We are at the moment starting the international collaboration between Indonesia and Japan to carry out the case study for Indonesia. We understand that in Indonesia itself each province has much different micro-climate between one province compared to the other. In Japan, METI (Ministry of Economy, Trade and Industry) has already organized a committee to investigate the feasibility of Space Solar Power and to make a plan to launch a space demonstration of the SPS. While, Indonesia is quickly developing economy and increasing their energy demand. We are investigating the detailed energy conditions of Indonesia, the benefits and disadvantages of the Space Solar Power for Indonesia. Especially, we will perform the investigation on the receiving system for the Japanese pilot Space Power Satellite.

  1. Comparison of power exchanges. Liquidity and prices in spot transactions; Stromboersen im Vergleich. Liquiditaet und Preise im Spothandel

    Energy Technology Data Exchange (ETDEWEB)

    Simon, Manuel

    2012-07-01

    The liberalization of the world's electricity markets in the past 20 years provided new challenges for operators of power distribution systems as well as producers: Especially in Europe, the integration of renewable energy sources is another challenge. The increasing importance of wind energy, solar energy and hydro power as a CO{sub 2} free energy source raises the question which market design is the best for the description of the constant fluctuations of these energy sources. As a result of liberalization, two market models are distinguished: the stock market model and the pool model. The author of the contribution under consideration analyzes empirically the power exchanges EEX (European energy Exchange, Leipzig, Federal Republic of Germany), Nordpool (Lysaker, Norway) and PJM (Norristown, Pennsylvania, USA). The parameters are determined which significantly affect the prices and the liquidity in the spot market.

  2. The Relationship Between Electricity Price and Wind Power Generation in Danish Electricity Markets

    DEFF Research Database (Denmark)

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

    2010-01-01

    of competitive electricity markets in some ways, is chosen as the studied power system. The relationship between the electricity price (both the spot price and the regulation price) and the wind power generation in an electricity market is investigated in this paper. The spot price, the down regulation price...... and the up regulation price generally decreases when the wind power penetration in the power system increases. The statistical characteristics of the spot price for different wind power penetration are analyzed. The findings of this paper may be useful for wind power generation companies to make the optimal...... bidding strategy and may be also useful for the optimal operation of modern power systems with high wind power penetrations....

  3. Photovoltaic power. Industries and market

    International Nuclear Information System (INIS)

    Muller, J.C.

    2007-01-01

    Photovoltaic conversion should become competitive with respect to other power generation sources before the second half of the 21. century. This article treats first of the different solar cell technologies (monocrystalline and polycrystalline silicon, thin film silicon, cadmium telluride-based materials, copper-indium selenide-based materials, multi-spectral cells, organic cells) with respect to their conversion efficiency, production and energy cost, and environmental impact. A second part describes the solar cells market, its growth with respect to the different applications (isolated sites, decentralized generation, power plants). A third part deals with the perspectives of photovoltaic conversion with respect to the advance in the development of new cell materials. (J.S.)

  4. Green Power Marketing - from Niches to Mass Markets

    International Nuclear Information System (INIS)

    Wuestenhagen, Rolf

    2000-01-01

    In the process of liberalization of the electricity market the customers are now in a position to participate in the decision on how their electricity is produced. In particular, many consumers have a preference for renewable energies. For the producers, marketing of 'eco-power' is an opportunity to achieve sustainable competitive advantage. However, the market share of these products is still quite small today, and 'eco-power' is usually marketed as an expensive niche product. From the perspective of sustainable development these niches are a necessary but not sufficient step. In this book, ways are discussed which could lead to a mass-market penetration of eco-power products. A theoretical analysis is combined with empirical evidence derived from the eco-power market in Germany, Switzerland, Great Britain and the U.S. as well as with a comparison with other market segments [de

  5. 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

  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. 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%

  8. Optimal methodology for a machining process scheduling in spot electricity markets

    International Nuclear Information System (INIS)

    Yusta, J.M.; Torres, F.; Khodr, H.M.

    2010-01-01

    Electricity spot markets have introduced hourly variations in the price of electricity. These variations allow the increase of the energy efficiency by the appropriate scheduling and adaptation of the industrial production to the hourly cost of electricity in order to obtain the maximum profit for the industry. In this article a mathematical optimization model simulates costs and the electricity demand of a machining process. The resultant problem is solved using the generalized reduced gradient approach, to find the optimum production schedule that maximizes the industry profit considering the hourly variations of the price of electricity in the spot market. Different price scenarios are studied to analyze the impact of the spot market prices for electricity on the optimal scheduling of the machining process and on the industry profit. The convenience of the application of the proposed model is shown especially in cases of very high electricity prices.

  9. 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.)

  10. A new computational method for reactive power market clearing

    International Nuclear Information System (INIS)

    Zhang, T.; Elkasrawy, A.; Venkatesh, B.

    2009-01-01

    After deregulation of electricity markets, ancillary services such as reactive power supply are priced separately. However, unlike real power supply, procedures for costing and pricing reactive power supply are still evolving and spot markets for reactive power do not exist as of now. Further, traditional formulations proposed for clearing reactive power markets use a non-linear mixed integer programming formulation that are difficult to solve. This paper proposes a new reactive power supply market clearing scheme. Novelty of this formulation lies in the pricing scheme that rewards transformers for tap shifting while participating in this market. The proposed model is a non-linear mixed integer challenge. A significant portion of the manuscript is devoted towards the development of a new successive mixed integer linear programming (MILP) technique to solve this formulation. The successive MILP method is computationally robust and fast. The IEEE 6-bus and 300-bus systems are used to test the proposed method. These tests serve to demonstrate computational speed and rigor of the proposed method. (author)

  11. Market power in interactive environmental and energy markets

    DEFF Research Database (Denmark)

    Amundsen, Eirik S; Nese, Gjermund

    2017-01-01

    electricity and TGC markets, and focus on the role of market power (i.e., Stackelberg leadership). One result is that a certificate system faced with market power may collapse into a system of per-unit subsidies. Also, the model shows that TGCs may be an imprecise instrument for regulating the generation......A market for tradable green certificates (TGCs) is strongly interwoven in the electricity market in that the producers of green electricity are also the suppliers of TGCs. Therefore, strategic interaction may result. We formulate an analytic equilibrium model for simultaneously functioning...

  12. 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)

  13. Market power mitigation, monitoring and surveillance

    International Nuclear Information System (INIS)

    Chandler, H.

    2001-01-01

    This power point presentation described the working of the Independent Market Operator (IMO) in Ontario in terms of its function and structure, competencies, operating principles, and interagency coordination in the electricity sector. An independent market surveillance panel (MSP) appointed by the IMO Board empowers the IMO to monitor, investigate and request information from market participants regarding power system operations, market and strategic development and industrial economics. The six operating principles of the MSP are efficiency, consistency, fairness, transparency, timeliness and confidentiality

  14. Wind power in a deregulated market

    International Nuclear Information System (INIS)

    Ravn, Hans F.

    2000-01-01

    The paper describes organisational and economic elements related to wind power in a deregulated market, it describes physical and technical characteristics of wind power and it describes how wind power is handled in daily operation as well as on the market. (author)

  15. Will cross-ownership reestablish market power in the Nordic power market?

    International Nuclear Information System (INIS)

    Amundsen, Eirik S.; Bergman, Lars

    2000-01-01

    The integration of the power markets in Norway and Sweden in 1996 significantly constrained the major power companies' ability to exercise market power within their national borders. In recent years, however, mergers and reciprocal acquisition of shares have reduced the number of independent players on the Norwegian-Swedish power market. The aim of this paper is to explore to what extent increasing cross-ownership among major power companies in Norway and Sweden might re-establish the market power that was lost when the two national power markets were integrated. The analysis is based on a numerical model, assuming Cournot quantity setting behaviour, of the Norwegian-Swedish power market. The simulation results suggest that partial ownership relations between major generators and other power-producing firms tend to increase horizontal market power and thus the market price of electricity. (author)

  16. Empirical evaluation of the efficiency of the Iberian power futures market

    Directory of Open Access Journals (Sweden)

    Álvaro Capitán Herráiz

    2008-12-01

    Full Text Available Market efficiency is analysed for the Iberian Power Futures Market and other European Power Markets, as well as other fuel markets through evaluation of ex-post Forward Risk Premium. The equilibrium price from compulsory call auctions for distribution companies within the framework of the Iberian Power Futures Market is not optimal for remuneration purposes as it seems to be slightly upward biased, though such a premium is not significant (only around 2% above the average of Settlement Prices. In the period considered (August 2006 to September 2008, monthly futures contracts behave similarly to quarterly contracts. Average risk premia have been positive in power and natural gas markets but negative in oil and coal markets. Different hypotheses are tested regarding increasing volatility with maturity and regarding Forward Risk Premium correlations (negative with variance of spot prices during delivery period and positive with skewness of spot prices during delivery period. Enlarged data sets are recommended for stronger test results. Energy markets tend to show limited levels of market efficiency. Regarding the emerging Iberian Power Futures Market, price efficiency is improved with market development and with further integration of European Regional Power Markets.

  17. Dealing with risk in the power market

    International Nuclear Information System (INIS)

    Holtan, J.A.; Mo, B.

    1995-01-01

    The report describes the most important sources of risk in the electric power market and how risk can be dealt with by the actors in the market. It stresses recharge risk, price risk, and quantity risk in various types of contracts. It is shown how these risk sources interact and how power traders can exploit the opportunities in the power market to their own benefit. 17 refs

  18. France liberalizes its power supply market

    International Nuclear Information System (INIS)

    Anon.

    2004-01-01

    The French market of power supply to companies is now free. This means that Electricite de France (EdF), the first world electric utility now has competitors in its domestic market. This is an important challenge for EdF because 3 millions of clients (70% of the French power consumption) are now concerned by the opening of the power market. According to A. Merlin, head of the energy transportation network (RTE), the opening of the market does not increase the risk of black-out, it just makes the operation of power networks more complex. The implementation of a single power transportation company (RTE) simplifies the mastery of networks safety but the development of investments is necessary to ensure the maintenance of 400 kV power lines. A comparison of the situation of power market liberalization is made for 6 countries (Germany, UK, Spain, US, Netherlands and Italy). Short paper. (J.S.)

  19. "Forecasting Volatility and Spillovers in Crude Oil Spot, Forward and Futures Markets"

    OpenAIRE

    Chia-Lin Chang; Michael McAleer; Roengchai Tansuchat

    2009-01-01

    Crude oil price volatility has been analyzed extensively for organized spot, forward and futures markets for well over a decade, and is crucial for forecasting volatility and Value-at- Risk (VaR). There are four major benchmarks in the international oil market, namely West Texas Intermediate (USA), Brent (North Sea), Dubai/Oman (Middle East), and Tapis (Asia- Pacific), which are likely to be highly correlated. This paper analyses the volatility spillover effects across and within the four mar...

  20. 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

  1. How does market power affect the impact of large scale wind investment in 'energy only' wholesale electricity markets?

    International Nuclear Information System (INIS)

    Browne, Oliver; Poletti, Stephen; Young, David

    2015-01-01

    In the short run, it is well known that increasing wind penetration is likely to reduce spot market electricity prices due to the merit order effect. The long run effect is less clear because there will be a change in new capacity investment in response to the wind penetration. In this paper we examine the interaction between capacity investment, wind penetration and market power by first using a least-cost generation expansion model to simulate capacity investment with increasing amounts of wind generation, and then using a computer agent-based model to predict electricity prices in the presence of market power. We find the degree to which firms are able to exercise market power depends critically on the ratio of capacity to peak demand. For our preferred long run generation scenario we show market power increases for some periods as wind penetration increases however the merit order counteracts this with the results that prices overall remain flat. Returns to peakers increase significantly as wind penetration increases. The market power in turn leads to inefficient dispatch which is exacerbated with large amounts of wind generation. - Highlights: • Increasing investment in wind generation is analyzed using an agent based model. • In an energy only market, increased total capacity reduces market power. • Increasing wind penetration results in more market power in some periods. • Market power causes dispatch inefficiencies, which grow as wind capacity increases.

  2. Adequate intraday market design to enable the integration of wind energy into the European power systems

    Energy Technology Data Exchange (ETDEWEB)

    Weber, Christoph [University Duisburg-Essen, Chair for Energy Economics and Management Sciences, Universitaetsstrasse 12, 45 117 Essen (Germany)

    2010-07-15

    This contribution analyses the European electricity markets with respect to their aptitude to absorb large amounts of wind energy. Thereby in a first step the market designs of the major European power markets in France, Germany, Scandinavia, Spain and UK are reviewed, with a particular focus on liquidity in the spot and intraday markets. Then some key features of the short-term adjustments required by wind energy are discussed and the necessity of sufficient liquidity in intraday markets is highlighted. For the example of the German market subsequently the discrepancy between the physical short-term adjustment needs and the traded volumes on the intraday market is analyzed. This leads to an evaluation of proposals for improving the liquidity on the short-term market, including the use of continuous spot trading like in UK or the use of intraday auctions like in Spain. (author)

  3. Generation Companies’ Operative Strategies in the Spot Electricity Market

    Directory of Open Access Journals (Sweden)

    Tovar-Hernández J.H.

    2012-07-01

    Full Text Available In traditional regulation the obligation to meet the consumer demand was assumed, this guaranteed to generation companies the full recovery of their costs. However, in order to achieve greater efficiency, reduce the price of electricity, meet the continuously growing electricity consumption, and equalize prices in different regions, a new structure of the electricity industry has been created, where electric energy is traded through a market. Generation company’s future cash flows depend on day to day market participation, in order to satisfy all of their financial and economic requirements. In this paper, future cash flows required to fulfill with economic and financial commitments by a generation company immerse in this new market structure are studied. For this purpose, future cash flows are considered to be dependent on a single asset: electricity. Several scenarios with different fuel prices are generated in order to estimate the generation company’s future cash flows. The response of the competing generation companies is taken into account at each scenario. The fuel price changes are modelled using a concurrent binary tree.

  4. An Analysis of Colombian Power Market Price Behavior from an Industrial Organization Perspective

    Directory of Open Access Journals (Sweden)

    Ona Duarte Venslauskas

    2015-12-01

    Full Text Available We analyze the behavior of spot prices in the Colombian wholesale power market, using a series of models derived from industrial organization theory.  We first create a Cournot-based model that simulates the strategic behavior of the market-leader power generators, which we use to estimate two industrial organization variables, the Index of Residual Demand and the Herfindahl-Hirschman Index (HHI.  We use these variables to create VAR models that estimate spot prices and power market impulse-response relationships.  The results from these models show that hydroelectric generators can use their water storage capability strategically to affect off-peak prices primarily, while the thermal generators can manage their capacity strategically to affect on-peak prices.  In addition, shocks to the Index of Residual Capacity and to the HHI cause spot price fluctuations, which can be interpreted as the generators´ strategic response to these shocks.

  5. Validity of urinary monoamine assay sales under the "spot baseline urinary neurotransmitter testing marketing model".

    Science.gov (United States)

    Hinz, Marty; Stein, Alvin; Uncini, Thomas

    2011-01-01

    Spot baseline urinary monoamine assays have been used in medicine for over 50 years as a screening test for monoamine-secreting tumors, such as pheochromocytoma and carcinoid syndrome. In these disease states, when the result of a spot baseline monoamine assay is above the specific value set by the laboratory, it is an indication to obtain a 24-hour urine sample to make a definitive diagnosis. There are no defined applications where spot baseline urinary monoamine assays can be used to diagnose disease or other states directly. No peer-reviewed published original research exists which demonstrates that these assays are valid in the treatment of individual patients in the clinical setting. Since 2001, urinary monoamine assay sales have been promoted for numerous applications under the "spot baseline urinary neurotransmitter testing marketing model". There is no published peer-reviewed original research that defines the scientific foundation upon which the claims for these assays are made. On the contrary, several articles have been published that discredit various aspects of the model. To fill the void, this manuscript is a comprehensive review of the scientific foundation and claims put forth by laboratories selling urinary monoamine assays under the spot baseline urinary neurotransmitter testing marketing model.

  6. Exchange Rates’ Effect on Spot and Futures Equity Index Markets: A Study on Borsa Istanbul

    Directory of Open Access Journals (Sweden)

    Ayben Koy

    2017-06-01

    Full Text Available This paper examines the linkages between the foreign exchange rates, spot equity index and equity index futures. The study aims to investi-gate whether there is difference between the spot and futures markets in the scope of relation with the foreign exchange rates’ returns and which leads the other. The relationships are examined by using the vector autoregression (VAR model, impulse-response functions, variance decomposition and Granger Causality tests. The sample of the study consists of US dollar to Turkish Lira rate (USD/TRY, Euro to Turkish Lira rate (EUR/TRY, BIST 30 Index and BIST 30 Index Futures. The data of the study includes the period between January 2011 and December 2014 with daily data range. Our results have evidence that the foreign exchange rate markets in Turkey are driven by the equity market.

  7. Impacts of Western Area Power Administration's power marketing alternatives on electric utility systems

    International Nuclear Information System (INIS)

    Veselka, T.D.; Portante, E.C.; Koritarov, V.

    1995-03-01

    This technical memorandum estimates the effects of alternative contractual commitments that may be initiated by the Western Area Power Administration's Salt Lake City Area Office. It also studies hydropower operational restrictions at the Salt Lake City Area Integrated Projects in combination with these alternatives. Power marketing and hydropower operational effects are estimated in support of Western's Electric Power Marketing Environmental Impact Statement (EIS). Electricity production and capacity expansion for utility systems that will be directly affected by alternatives specified in the EIS are simulated. Cost estimates are presented by utility type and for various activities such as capacity expansion, generation, long-term firm purchases and sales, fixed operation and maintenance expenses, and spot market activities. Operational changes at hydropower facilities are also investigated

  8. Financial derivatives in power marketing: The basics

    International Nuclear Information System (INIS)

    Ramesh, V.C.; Ghosh, K.

    1996-01-01

    With the ongoing changes in the power industry worldwide, electricity is beginning to be traded like other commodities. The use of financial derivative instruments in power markets is on the rise. The purpose of this paper is to explain the role of these derivatives in risk management which is vital for survival in the increasingly competitive industry. Starting with the familiar cash markets, the paper discusses the basics of futures, options, and swap markets as applied to electric energy trading

  9. State of the art in the estimation of energy prices in the spot market

    International Nuclear Information System (INIS)

    Botero B, Sergio; Cano C, Jovan A

    2007-01-01

    Since the start energy markets deregulation in the world, several spot market (short term) price prediction methods have been developed? this article identifies and compares the main methods of prediction used in Colombia and other international markets. With this review it is possible to determine the state of the knowledge in the specific subject and then to look for the development of new forecasting techniques that can contribute to the solution of this problem. The prediction horizon is something that must be taken into account in the review of the several techniques, given that both the magnitude of the final model of estimation, and the time series treatment type, depend on this horizon.

  10. A bid solicitation and selection method for developing a competitive spot priced electric market

    International Nuclear Information System (INIS)

    Ancona, J.J.

    1997-01-01

    The electric utility industry is in the beginning throes of a transformation from a cost-based regulated structure to a more market based less regulated system. Traditional unit commitment and economic dispatch methodologies can continue to provide reliable least-cost solutions, providing they are modified to accommodate a larger sphere of market participants. This paper offers a method for an entity such as an Independent System Operator (ISO) to solicit and evaluate bids for developing a spot priced electric market by replicating existing utility practices that are effective and efficient, while creating an open and equitable competitive marketplace for electricity

  11. Effects of long-term contracts on firms exercising market power in transmission constrained electricity markets

    International Nuclear Information System (INIS)

    Nam, Young Woo; Yoon, Yong Tae; Park, Jong-Keun; Hur, Don; Kim, Sung-Soo

    2006-01-01

    The electricity markets with only few large firms are often vulnerable to less competitive behaviors than the desired. The presence of transmission constraints further restrict the competition among firms and provide more opportunities for firms to exercise market power. While it is generally acknowledged that the long-term contracts provide good measures for mitigating market power in the spot market (thus reducing undesired price spikes), it is not even more clear how effective these contracts are if the market is severely limited due to transmission constraints. In this paper, an analytical approach through finding a Nash equilibrium is presented to investigate the effects of long-term contracts on firms exercising market power in a bid-based pool with transmission constraints. Surprisingly the analysis in this paper shows that the presence of long-term contracts may result in the reduced expected social welfare. A straightforward consequence of the analysis presented in this paper will be helpful for the regulators in Korea to reconsider offering vesting contracts to generating companies in the near future. (author)

  12. Modelling of demand response and market power

    International Nuclear Information System (INIS)

    Kristoffersen, B.B.; Donslund, B.; Boerre Eriksen, P.

    2004-01-01

    Demand-side flexibility and demand response to high prices are prerequisites for the proper functioning of the Nordic power market. If the consumers are unwilling to respond to high prices, the market may fail the clearing, and this may result in unwanted forced demand disconnections. Being the TSO of Western Denmark, Eltra is responsible of both security of supply and the design of the power market within its area. On this basis, Eltra has developed a new mathematical model tool for analysing the Nordic wholesale market. The model is named MARS (MARket Simulation). The model is able to handle hydropower and thermal production, nuclear power and wind power. Production, demand and exchanges modelled on an hourly basis are new important features of the model. The model uses the same principles as Nord Pool (The Nordic Power Exchange), including the division of the Nordic countries into price areas. On the demand side, price elasticity is taken into account and described by a Cobb-Douglas function. Apart from simulating perfect competition markets, particular attention has been given to modelling imperfect market conditions, i.e. exercise of market power on the supply side. Market power is simulated by using game theory, including the Nash equilibrium concept. The paper gives a short description of the MARS model. Besides, focus is on the application of the model in order to illustrate the importance of demand response in the Nordic market. Simulations with different values of demand elasticity are compared. Calculations are carried out for perfect competition and for the situation in which market power is exercised by the large power producers in the Nordic countries (oligopoly). (au)

  13. The Nordic electric power market. A study of the market characteristics, price factors and the competitive environment of the Nordic power market

    International Nuclear Information System (INIS)

    Keskikallio, J.; Lindholm, J.

    2003-06-01

    power derivatives (since the TSO may affect the area price directly) and the use of bottleneck payments (income resulting from grid congestion). The supervision of spot and derivatives trading has been sporadic, and suspected cases with abuse of market power or market manipulation have not been processed in a satisfactory manner. Competent regulatory authorities (ex. RATA) should be empowered to extend supervision to encompass all market participants and be able to impose effective sanctions. Terms and regulations should be the same for market participants based in any country within the Nordic power market. (orig.)

  14. Tender frequency and market concentration in balancing power markets

    Energy Technology Data Exchange (ETDEWEB)

    Knaut, Andreas; Obermueller, Frank; Weiser, Florian

    2017-01-15

    Balancing power markets ensure the short-term balance of supply and demand in electricity markets and their importance may increase with a higher share of fluctuating renewable electricity production. While it is clear that shorter tender frequencies, e.g. daily or hourly, are able to increase the efficiency compared to a weekly procurement, it remains unclear in which respect market concentration will be affected. Against this background, we develop a numerical electricity market model to quantify the possible effects of shorter tender frequencies on costs and market concentration. We find that shorter time spans of procurement are able to lower the costs by up to 15%. While market concentration decreases in many markets, we - surprisingly - identify cases in which shorter time spans lead to higher concentration.

  15. Tender frequency and market concentration in balancing power markets

    International Nuclear Information System (INIS)

    Knaut, Andreas; Obermueller, Frank; Weiser, Florian

    2017-01-01

    Balancing power markets ensure the short-term balance of supply and demand in electricity markets and their importance may increase with a higher share of fluctuating renewable electricity production. While it is clear that shorter tender frequencies, e.g. daily or hourly, are able to increase the efficiency compared to a weekly procurement, it remains unclear in which respect market concentration will be affected. Against this background, we develop a numerical electricity market model to quantify the possible effects of shorter tender frequencies on costs and market concentration. We find that shorter time spans of procurement are able to lower the costs by up to 15%. While market concentration decreases in many markets, we - surprisingly - identify cases in which shorter time spans lead to higher concentration.

  16. Transmission of prices and price volatility in Australian electricity spot markets: a multivariate GARCH analysis

    International Nuclear Information System (INIS)

    Worthington, A.; Kay-Spratley, A.; Higgs, H.

    2005-01-01

    This paper examines the transmission of spot electricity prices and price volatility among the five regional electricity markets in the Australian National Electricity Market: namely, New South Wales, Queensland, South Australia, the Snowy Mountains Hydroelectric Scheme and Victoria. A multivariate generalised autoregressive conditional heteroskedasticity model is used to identify the source and magnitude of price and price volatility spillovers. The results indicate the presence of positive own mean spillovers in only a small number of markets and no mean spillovers between any of the markets. This appears to be directly related to the physical transfer limitations of the present system of regional interconnection. Nevertheless, the large number of significant own-volatility and cross-volatility spillovers in all five markets indicates the presence of strong autoregressive conditional heteroskedasticity and generalised autoregressive conditional heteroskedasticity effects. This indicates that shocks in some markets will affect price volatility in others. Finally, and contrary to evidence from studies in North American electricity markets, the results also indicate that Australian electricity spot prices are stationary. (author)

  17. Controlling total spot power from holographic laser by superimposing a binary phase grating.

    Science.gov (United States)

    Liu, Xiang; Zhang, Jian; Gan, Yu; Wu, Liying

    2011-04-25

    By superimposing a tunable binary phase grating with a conventional computer-generated hologram, the total power of multiple holographic 3D spots can be easily controlled by changing the phase depth of grating with high accuracy to a random power value for real-time optical manipulation without extra power loss. Simulation and experiment results indicate that a resolution of 0.002 can be achieved at a lower time cost for normalized total spot power.

  18. Water: The Only Factor Influencing the Price of Energy in the Spot Market?

    Directory of Open Access Journals (Sweden)

    Vinicius Mothé Maia

    2016-04-01

    Full Text Available The Brazilian electric energy generation system is based on its hydroelectric power plants, making the country dependent on proper rainfall and, thus, raising the possibility of energy stress situations, such as the energy-rationing scenario observed in the beginning of the century and the latest water crisis (2014. Moments of water scarcity are followed by an increase in energy prices, which affects the economy as whole. Therefore, it is relevant to understand which factors in the Brazilian Electric System affect the energy price and the individual importance of each. This paper aimed to analyze which the key variables influencing the energy price in the spot market are by using official data from the National Electric System Operator. The used data was from the period July/2001 to July/2014, which was employed in a multiple regression methodology along with time series. The results suggest an inverse relationship between the natural flow of rivers (directly related to rainfall and the energy price. Moreover, they also point to an inverse relationship between the potential energy stored in reservoirs as water and the energy price.

  19. Coal gasification and the power production market

    International Nuclear Information System (INIS)

    Howington, K.; Flandermeyer, G.

    1995-01-01

    The US electric power production market is experiencing significant changes sparking interest in the current and future alternatives for power production. Coal gasification technology is being marketed to satisfy the needs of the volatile power production industry. Coal gasification is a promising power production process in which solid coal is burned to produce a synthesis gas (syn gas). The syn gas may be used to fuel combustion integrated into a facility producing electric power. Advantages of this technology include efficient power production, low flue gas emissions, flexible fuel utilization, broad capability for facility integration, useful process byproducts, and decreased waste disposal. The primary disadvantages are relatively high capital costs and lack of proven long-term operating experience. Developers of coal gasification intend to improve on these disadvantages and lop a strong position in the power generation market. This paper is a marketing analysis of the partial oxidation coal gasification processes emerging in the US in response to the market factors of the power production industry. A brief history of these processes is presented, including the results of recent projects exploring the feasibility of integrated gasification combined cycle (IGCC) as a power production alternative. The current power generation market factors are discussed, and the status of current projects is presented including projected performance

  20. Modeling and analysis of strategic forward contracting in transmission constrained power markets

    International Nuclear Information System (INIS)

    Yu, C.W.; Chung, T.S.; Zhang, S.H.; Wang, X.

    2010-01-01

    Taking the effects of transmission network into account, strategic forward contracting induced by the interaction of generation firms' strategies in the spot and forward markets is investigated. A two-stage game model is proposed to describe generation firms' strategic forward contracting and spot market competition. In the spot market, generation firms behave strategically by submitting bids at their nodes in a form of linear supply function (LSF) and there are arbitrageurs who buy and resell power at different nodes where price differences exceed the costs of transmission. The owner of the grid is assumed to ration limited transmission line capacity to maximize the value of the transmission services in the spot market. The Cournot-type competition is assumed for the strategic forward contract market. This two-stage model is formulated as an equilibrium problem with equilibrium constraints (EPEC); in which each firm's optimization problem in the forward market is a mathematical program with equilibrium constraints (MPEC) and parameter-dependent spot market equilibrium as the inner problem. A nonlinear complementarity method is employed to solve this EPEC model. (author)

  1. Marketing of wind power; Vermarktung von Windenergie

    Energy Technology Data Exchange (ETDEWEB)

    Roon, Serafin von [Forschungsstelle fuer Energiewirtschaft e.V., Muenchen (Germany)

    2011-07-01

    With the integration of the fluctuating production in the system of power supply, there is the question about the impact on the electricity market. The special features of the commercialization of wind energy are: (1) The production exclusively takes place supply-dependent; (2) With fex exceptions, the supplied current is compensated according to the Renewable Energy Law; (3) The actual sale is performed by the operators of transmission systems; (4) The marginal cost are close to zero; (5) The day-ahead marketing solely based on a faulty prognosis. The author of the contribution under consideration reports on the actors and the process of wind power marketing. The alternative of direct marketing and the associated barriers and opportunities are discussed. The impact of the marketing of wind power on pricing in the electricity market is shown by means of an empirical analysis. The compensation amounts are be quantified, and the resulting cost to the balance of the forecast error are estimated.

  2. Examining market power in the European natural gas market

    International Nuclear Information System (INIS)

    Egging, R.G.; Gabriel, S.A.

    2006-01-01

    In this paper, we develop a mixed complementarity equilibrium model for the European natural gas market. This model has producers as Cournot players with conjectured supply functions relative to their rivals. As such, these producers can withhold production to increase downstream prices for greater profits. The other players are taken to be perfectly competitive and are combined with extensive pipeline, seasonal, and other data reflecting the current state of the market. Four market scenarios are run to analyze the extent of market power by these producers as well as the importance of pipeline and storage capacity. (author)

  3. Examining market power in the European natural gas market

    International Nuclear Information System (INIS)

    Egging, Rudolf G.; Gabriel, Steven A.

    2006-01-01

    In this paper, we develop a mixed complementarity equilibrium model for the European natural gas market. This model has producers as Cournot players with conjectured supply functions relative to their rivals. As such, these producers can withhold production to increase downstream prices for greater profits. The other players are taken to be perfectly competitive and are combined with extensive pipeline, seasonal, and other data reflecting the current state of the market. Four market scenarios are run to analyze the extent of market power by these producers as well as the importance of pipeline and storage capacity

  4. Time-varying convergence in European electricity spot markets and their association with carbon and fuel prices

    International Nuclear Information System (INIS)

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

    2016-01-01

    Long-run dynamics of electricity prices are expected to reflect fuel price developments, since fuels generally account for a large share in the cost of generation. As an integrated European market for electricity develops, wholesale electricity prices should be converging as a result of market coupling and increased interconnectivity. Electricity mixes are also changing, spurred by a drive to significantly increase the share of renewables. Consequently, the electricity wholesale price dynamics are evolving, and the fuel–electricity price nexus that has been described in the literature is likely to reflect this evolution. This study investigates associations between spot prices from the British, French and Nordpool markets with those in connected electricity markets and fuel input prices, from December 2005 to October 2013. In order to assess the time-varying dynamics of electricity spot price series, localized autocorrelation functions are used. Electricity spot prices in the three markets are found to have stationary and non-stationary periods. When a trend in spot prices is observed, it is likely to reflect the trend in fuel prices. Cointegration analysis is then used to assess co-movement between electricity spot prices and fuel inputs to generation. The results show that British electricity spot prices are associated with fuel prices and not with price developments in connected markets, while the opposite is observed in the French and Nordpool day-ahead markets. - Highlights: • Electricity market integration policies may have altered EU spot electricity prices. • LACF is used to assess the changing nature of electricity spot prices. • EU electricity spot prices show both stationary and non-stationary periods. • Carbon and fuel prices have greater impact on British spot prices. • In continental Europe, electricity prices have decoupled from fuel prices.

  5. Price interactions and discovery among natural gas spot markets in North America

    International Nuclear Information System (INIS)

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

    2008-01-01

    Recent advances in modeling causal flows with time series analysis are used to study relationships among eight North American natural gas spot market prices. Results indicate that the Canadian and US natural gas market is a single highly integrated market. Further results indicate that price discovery tends to reflect both regions of excess demand and supply. Across North America, Malin Hub in Oregon, Chicago Hub, Illinois, Waha, Texas, and Henry Hub, Louisiana region, are the most important markets for price discovery. Opal Hub in Wyoming is an information sink in contemporaneous time, receiving price information but passing on no price information. AECO Hub in Alberta, Canada, receives price signals from several markets and passes on information to Opal and the Oklahoma region. (author)

  6. Evaluation of market samples of ′Yashada bhasma′ using ′Namburi Phased Spot Test′

    Directory of Open Access Journals (Sweden)

    Santhosh Bhojashettar

    2011-01-01

    Full Text Available Yashada bhasma (Calx of Yashada i.e. Zinc which has its main indication in Prameha (Diabetes and Netra vikaras (Eye disorders was prepared according to the prescription in the Ayurvedic classics and subjected to various bhasma parikshas, including the Namburi Phased Spot Test (NPST, one of the qualitative tests described for various Ayurvedic preparations. NPST helps differentiate between, and thus identify, various bhasmas. It depends upon the pattern of the spot, which develops after a specific chemical reaction. Three market samples of Yashada bhasma, which were said to be Parada marita (incinerated using Mercury, were also subjected to the above tests and results compared. The various bhasmas exhibited marked differences in colour, and though NPST yielded desired results for all the samples, there were differences in their spot patterns and colour. The bhasma prepared in our department produced the most accurate results.

  7. Market power monitoring and mitigation in the US wholesale power markets

    Energy Technology Data Exchange (ETDEWEB)

    Helman, Udi [Federal Energy Regulatory Commission, 888 First Street, N.E., Washington, DC 20426 (United States)

    2006-05-15

    Under current statutory requirements, the Federal Energy Regulatory Commission (FERC) must ensure that prices in US wholesale power markets are 'just and reasonable'. This has been interpreted by the agency and the courts as requiring the monitoring and mitigation of undue market power. This paper focuses on generation market power. Prior to electricity sector restructuring, wholesale bilateral power trading took place among vertically integrated monopoly utilities trading at the margin or between small independent producers and the utilities. Under those conditions, the authorization of trading at market prices, called 'market-based rates', required only that the generation supplier pass a simple market share screen for market power. As restructuring unfolded, and market conditions changed, there has been a steady evolution in FERC's market power mitigation rules, encompassing (a) changes in the market power assessment required for granting market-based rates and related methods for merger approval, and (b) development and refinement of new techniques for screening and mitigating offers into the organized day-ahead and real-time markets operated by Independent System Operators (ISOs) and Regional Transmission Organizations (RTOs). This paper reviews these changes to date, as FERC continues to clarify its approved rules and procedures. It also examines recent methods for quantitative market power analysis that could augment current procedures or supplant them, as found appropriate. (author)

  8. Simulation of power plant construction in competitive Korean electricity market

    International Nuclear Information System (INIS)

    Ahn, Nam Sung; Huh, Sung Chul

    2001-01-01

    power plant. Under these postulations, there is the potential for power plant construction to appear in waves causing alternating periods of over and under supply of electricity like commodity production or real estate construction. A computer model was developed to study the possibility that construction will appear in waves of boom and burst in Korean electricity market. This model was constructed using System Dynamics method pioneered by Forrester (MIT, 1961) and explained in recent text by Sternman (Business Dynamics, MIT, 2000) and the recent work by Andrew Ford (Energy Policy, 1999). This model was designed based on the Energy Policy results (Ford, 1999) with parameters for loads and resources in Korea. This Korea Market Model was developed and tested in a small scale project to demonstrate the usefulness of the System Dynamics approach, Korea electricity market is isolated and not allowed to import electricity from outsides. In this model, the base load such as nuclear and large coal power plant are assumed to be user specified investment and only CCGT is selected for new investiment by investors in the market. This model may be used to learn if government investment in new nuclear plants could compensate for the unstable actions of private developers. This model can be used to test the policy focused on the role of nuclear investments over time. This model also can be used to test whether the future power plant construction can meet the government targets for the mix of generating resources and to test whether to maintain stable price in the spot market

  9. Recipe for success in solar power marketing

    International Nuclear Information System (INIS)

    Frauenfelder, S.

    2000-01-01

    This article presents the results of a campaign run jointly by the Swiss Federal Office of Energy and the Association of Swiss Electricity Utilities called 'Solar Power from your Utility'. An analysis of solar power marketing efforts made by ten utilities is presented. The results of assessments of these market measures made by solar power customers and non-customers are presented and questions of pricing, product-image and product-confidence are discussed. Finally, suggestions for the optimisation of the marketing measures are made

  10. Legal market abuse regulations of WpHG (law on stock trading) and the REMIT-VO in the electricity spot trading

    International Nuclear Information System (INIS)

    Retsch, Alexander T.

    2014-01-01

    The thesis on legal market abuse regulations of WpHG (law on stock trading) and the REMIT-VO in the electricity spot trading include the discussion of the following issues: market abuse, its forms of appearance (market manipulation, insider trade, insider information), electricity spot trading, relevant legislative frame, market abuse regulations (WpHG), interdiction of market manipulation and related regulations.

  11. A metric and topological analysis of determinism in the crude oil spot market

    International Nuclear Information System (INIS)

    Barkoulas, John T.; Chakraborty, Atreya; Ouandlous, Arav

    2012-01-01

    We test whether the spot price of crude oil is determined by stochastic rules or exhibits deterministic endogenous fluctuations. In our analysis, we employ both metric (correlation dimension and Lyapunov exponents) and topological (recurrence plots) diagnostic tools for chaotic dynamics. We find that the underlying system for crude oil spot prices (i) is of high dimensionality (no stabilization of the correlation dimension), (ii) does not exhibit sensitive dependence on initial conditions, and (iii) is not characterized by the recurrence property. Thus, the empirical evidence suggests that stochastic rather than deterministic rules are present in the system dynamics of the crude oil spot market. Recurrent plot analysis indicates that volatility clustering is an adequate, but not complete, explanation of the morphology of oil spot prices. - Highlights: ► We test whether the spot price of crude oil exhibits deterministic chaos. ► We employ both metric and topological diagnostic tools for chaos. ► Stochastic rules appear to govern the temporal evolution of oil prices. ► Volatility clustering explains the morphology of oil prices largely, but not entirely.

  12. The effect of ethanol listing on corn prices: Evidence from spot and futures markets

    International Nuclear Information System (INIS)

    Demirer, Rıza; Kutan, Ali M.; Shen, Fanglin

    2012-01-01

    The use of corn for ethanol has been the topic of heated discussions in the media and among policy makers. As part of this debate, some observers have argued that the use of corn in the production of ethanol has had adverse effects on corn prices. This paper contributes to this reviving debate by examining the impact of the listing of ethanol futures in the Chicago Board of Trade on the spot and futures prices for corn. We find a significant listing effect, indicating that the listing of ethanol has had a positive contribution to both price and volatility in the corn market, especially in the spot and the shorter maturity futures contracts, and mostly through its interaction with trading volume in the corn market. We discuss the policy implications of the findings for investors and its relevance for the ongoing debate on US energy policy. We conclude with some suggestions for future research.

  13. Long-term contract auctions and market power in regulated power industries

    International Nuclear Information System (INIS)

    Soledad Arellano, M.; Serra, Pablo

    2010-01-01

    A number of countries with oligopolistic power industries have used marginal cost pricing to set the price of energy for small customers. This course of action, however, does not necessarily ensure an efficient outcome when competition is imperfect. The purpose of this paper is to study how the auction of long-term contracts could reduce market power. We do so in a two-firm, two-technology, linear-cost, static model where demand is summarized by a price inelastic load curve. In this context we show that the larger the proportion of total demand auctioned in advance, the lower are both the contract and the average spot price of energy.

  14. Multiobjective clearing of reactive power market in deregulated power systems

    International Nuclear Information System (INIS)

    Rabiee, A.; Shayanfar, H.; Amjady, N.

    2009-01-01

    This paper presents a day-ahead reactive power market which is cleared in the form of multiobjective context. Total payment function (TPF) of generators, representing the payment paid to the generators for their reactive power compensation, is considered as the main objective function of reactive power market. Besides that, voltage security margin, overload index, and also voltage drop index are the other objective functions of the optimal power flow (OPF) problem to clear the reactive power market. A Multiobjective Mathematical Programming (MMP) formulation is implemented to solve the problem of reactive power market clearing using a fuzzy approach to choose the best compromise solution according to the specific preference among various non-dominated (pareto optimal) solutions. The effectiveness of the proposed method is examined based on the IEEE 24-bus reliability test system (IEEE 24-bus RTS). (author)

  15. Testing the Efficiency of the Foreign Exchange Spot Market in Iran

    OpenAIRE

    Borhan-Azad, Lida

    2006-01-01

    This dissertation aimed at testing the efficiency of the foreign exchange market of Iran in the weak and semi-strong form using data on the black market spot exchange rates between Iranian currency (i.e., Rial) and four major foreign currencies including US Dollar, German Mark/Euro, UK Pound and Japanese Yen. The weak form efficiency is examined by unit root tests including Augmented Dickey-Fuller (1979, 1981) (ADF) test and Phillips-Perron (1988) (PP) test. The results of these tests are con...

  16. Optimal Operation of Electric Vehicles in Competitive Electricity Markets and Its Impact on Distribution Power Systems

    DEFF Research Database (Denmark)

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

    2011-01-01

    represent the future of electricity markets in some ways, is chosen as the studied power system in this paper. The impact of the optimal operation strategy for electric vehicles together with the optimal load response to spot market price on the distribution power system with high wind power penetrations...... are also discussed in the paper. Simulation results show that the proposed optimal operation strategy is an effective measure to achieve minimum energy costs of the PEV. The optimal operation strategy of the PEV and the optimal load response may have significant effects on the distribution power system......Since the hourly spot market price is available one day ahead in Denmark, the electricity price could be transferred to the consumers and they may make some optimal charge and discharge schedules for their electric vehicles in order to minimize their energy costs. This paper presents an optimal...

  17. A Market-Based Virtual Power Plant

    DEFF Research Database (Denmark)

    You, Shi; Træholt, Chresten; Poulsen, Bjarne

    2009-01-01

    The fast growing penetration of Distributed Energy Resources (DER) and the continuing trend towards a more liberalized electricity market requires more efficient energy management strategies to handle both emerging technical and economic issues. In this paper, a market-based Virtual Power Plant...... (MBVPP) model is proposed which provides individual DER units the accesses to current electricity markets. General bidding scenario and price signal scenario as two optional operation scenarios are operated by one MBVPP. In the end, a use case of a MBVPP with micro Combined Heat and Power (μCHP) systems...

  18. A time-series analysis of the crude oil spot and futures markets

    International Nuclear Information System (INIS)

    Quan Jing.

    1990-01-01

    First, the existence of the relationship is tested. Second, after the relationship is established, it is tested to determine the direction of causality. Most of previous research on this issue ignored the first step, and the existence of the relationship was taken for granted. Unfortunately, however, this assumption is not justified since it does not necessarily hold. The first relationship investigated in this study is between the crude oil spot and futures prices. It is found that spot price leads futures prices instead of the futures price providing information on the spot price. Two additional relationships studied are those between the OPEC oil supply and the futures prices and that between the same supply and spot prices. In the case of OPEC supply and spot prices, a self-adaptive model with supply interruption dummy variables is introduced to study the price behavior. It is found that prices follow an adaptive process, that is, the previous price information offers powerful influence on the current price

  19. Market architecture and power demand management

    International Nuclear Information System (INIS)

    Rious, Vincent; Roques, Fabien

    2014-12-01

    Demand response is a cornerstone problem in electricity markets considering climate change constraint. Most liberalized electricity markets have a poor track record at developing demand response. In Europe, different models are considered for demand response, from a development under a regulated regime to a development under competitive perspectives. In this paper, focusing on demand response for mid-size and small consumers, we investigate which types of market signals should be sent to demand response aggregators to see demand response emerge as a competitive activity. Using data from the French power system over eight years, we compare the possible market design options to allow demand response to develop. Our simulations demonstrate that with the current market rules, demand response is not a profitable activity in the French electricity industry. Introducing a capacity remuneration could bring additional revenues to demand response aggregators if the power system has no over-capacity

  20. 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

  1. Risk handling in the power market

    International Nuclear Information System (INIS)

    Lindbaek-Nilsen, Brian; Strand, Krister

    2004-01-01

    In 1991 a new energy law was implemented in Norway. The Norwegian power market became deregulated and the law created a basis for a market based trade of electrical energy in Norway. In 1998 Nord Pool was founded and this has gradually become a common Nordic power exchange. The power market is characterized by large price fluctuations periodically. The reason is a variable resource supply and demand. In important factor in this context is that electricity cannot be stored after production. The large variations in supply and demand lead to large market risks for the involved parties. The derivate markets make hedging possible and thereby make it possible for the parties to guard against risks connected to future prices. This study presents risk elements in the power market, supplier and consumer sectors in view of the deregulation. In addition the present and future risk management is studied in with focus upon power suppliers that offer one-year fixed price contracts to the consumers. A study focuses on how a supplier may secure a certain volume of power in a year against price fluctuations in the market. As a basis the term market at Nord Pool is used and based on historical facts an estimated price for a supplier to eliminate the price risk for the volume is stipulated. This price is called the hedging cost and is compared with the offer a selection of power suppliers have for their one-year fixed price contracts. The possible difference between the two prices may be regarded as the power supplier risk price (premium) by offering these one-year fixed price contracts to the end consumers. The most surprising in the results in this study is how close the hedging costs are to the prices on the fixed price contracts. This means that compared to the hedging costs in the study the power suppliers operated with a small margin. Another tendency is that the fixed price contracts do not seem to have a high correlation to the hedging costs even if some companies follow the

  2. Wind power generation and dispatch in competitive power markets

    Science.gov (United States)

    Abreu, Lisias

    Wind energy is currently the fastest growing type of renewable energy. The main motivation is led by more strict emission constraints and higher fuel prices. In addition, recent developments in wind turbine technology and financial incentives have made wind energy technically and economically viable almost anywhere. In restructured power systems, reliable and economical operation of power systems are the two main objectives for the ISO. The ability to control the output of wind turbines is limited and the capacity of a wind farm changes according to wind speeds. Since this type of generation has no production costs, all production is taken by the system. Although, insufficient operational planning of power systems considering wind generation could result in higher system operation costs and off-peak transmission congestions. In addition, a GENCO can participate in short-term power markets in restructured power systems. The goal of a GENCO is to sell energy in such a way that would maximize its profitability. However, due to market price fluctuations and wind forecasting errors, it is essential for the wind GENCO to keep its financial risk at an acceptable level when constituting market bidding strategies. This dissertation discusses assumptions, functions, and methodologies that optimize short-term operations of power systems considering wind energy, and that optimize bidding strategies for wind producers in short-term markets. This dissertation also discusses uncertainties associated with electricity market environment and wind power forecasting that can expose market participants to a significant risk level when managing the tradeoff between profitability and risk.

  3. Wind Generators and Market Power

    DEFF Research Database (Denmark)

    Misir, Nihat

    price thresholds are significantly higher when the monopolist at the peakload level owns both types of generators. Furthermore, when producing electricity with the peakload generator, the monopolist can avoid facing prices below marginal cost by owning a certain share of the wind generators.......Electricity production from wind generators holds significant importance in European Union’s 20% renewable energy target by 2020. In this paper, I show that ownership of wind generators affects market outcomes by using both a Cournot oligopoly model and a real options model. In the Cournot...... oligopoly model, ownership of the wind generators by owners of fossil-fueled (peakload) generators decreases total peakload production and increases the market price. These effects increase with total wind generation and aggregate wind generator ownership. In the real options model, start up and shut down...

  4. The move to power marketing

    International Nuclear Information System (INIS)

    Lemon, C.

    1998-01-01

    The concept of energy convergence was defined as being able to freely substitute any form of energy, be it oil, natural gas or electricity for another. In order for convergence to occur, there must be price transparency, competition between energy providers, liquidity in both the physical and financial energy markets, arbitrage between energy sources, and end users having the ability to switch fuels quickly and cost effectively. It was predicted that the core markets will be dominated by string retailers that can deliver multiple energy offerings along with other commodities and services. Their success will depend on structuring joint ventures and partnerships. Customers, too, will benefit from competition through lower prices, and a choice of suppliers and commodities. 1 fig

  5. Modelling price and volatility inter-relationships in the Australian wholesale spot electricity markets

    International Nuclear Information System (INIS)

    Higgs, Helen

    2009-01-01

    This paper examines the inter-relationships of wholesale spot electricity prices among the four regional electricity markets in the Australian National Electricity Market (NEM): namely, New South Wales, Queensland, South Australia and Victoria using the constant conditional correlation and Tse and Tsui's (Tse, Y.K., Tsui, A.K.C., 2002. A multivariate generalised autoregressive conditional heteroscedasticity model with time-varying correlations. Journal of Business and Economic Statistics 20 (3), 351-362.) and Engle's (Engle, R., 2002. Dynamic conditional correlation: a sample class of multivariate generalized autoregressive conditional heteroskedasticity models. Journal of Business and Economic Statistics 20 (3), 339-350.) dynamic conditional correlation multivariate GARCH models. Tse and Tsui's (Tse, Y.K., Tsui, A.K.C., 2002. A multivariate generalised autoregressive conditional heteroscedasticity model with time-varying correlations. Journal of Business and Economic Statistics 20 (3), 351-362.) dynamic conditional correlation multivariate GARCH model which takes account of the Student t specification produces the best results. At the univariate GARCH(1,1) level, the mean equations indicate the presence of positive own mean spillovers in all four markets and little evidence of mean spillovers from the other lagged markets. In the dynamic conditional correlation equation, the highest conditional correlations are evident between the well-connected markets indicating the presence of strong interdependence between these markets with weaker interdependence between the not so well-interconnected markets. (author)

  6. Consumption, price asymmetries, transmission congestion and market power in the Norwegian electricity market

    Energy Technology Data Exchange (ETDEWEB)

    Mirza, Faisal Mehmood

    2011-07-01

    The results from this dissertation add to the ongoing debate in Norway if NordPool spot should shift from zonal price scheme to the nodal price scheme. Academically, the individual papers provide a number of theoretical frameworks that are helpful in analyzing electricity markets around the world. The PhD dissertation investigates price determination process in the Norwegian electricity market and evaluates if the market works at perfectly competitive level or producers exercise market power to drive prices away from their marginal cost of production. Using aggregate hourly electricity supply and demand data, the empirical analysis carried out in this dissertation leads to the following conclusions. 1. Market power at the generation level is not a major problem for the Norwegian electricity market. On average, when we consider the events of binding transmission capacity as exogenous, the average markup in economic terms is small and has not exceeded one percent. 2. Producers can use the information on available transmission capacity between different price areas in Norway and restrict their output to induce transmission congestion in their price area to exercise market power. Average markup during such instances has remained high at 20 percent. 3. Transmission capacity in Norway is not being optimally utilized as import capacity remains at its lowest level during the hours when southern Norway is generally a net importer of electricity, when compared to the rest of the hours of the day. 4. A segment of electricity retailers in the Norwegian electricity market exercises its market power by controlling the pass-through of price changes in the wholesale market to the retail market for variable price contract consumers. The pass-through is asymmetric, whereby cost increase is transmitted completely and quickly when compared to the case of cost decrease. 5.The Daylight saving time (Summer time) policy is helpful in ensuring energy efficiency. It results in electricity

  7. The hydroelectric power market in the world

    International Nuclear Information System (INIS)

    Junius, A.

    2004-10-01

    This work makes a synthesis of the hydroelectric power market, of its present day capacity in the world, and of its perspectives of development in the future. The first part treats of the hydroelectric facilities and of the market of hydroelectric power plants. It presents the technology used and the different types of plants, the evolution of their geographical setting and the future potentialities of development. The second part deals with the competitiveness of this industry with respect to: the energy policy stakes, the profitability, the energy independence of countries, the regulation of power networks and the environmental impacts. (J.S.)

  8. Price signals in the power market

    International Nuclear Information System (INIS)

    2000-01-01

    Which price signals should be given to the players in the power market to promote a socio-economic power supply in the short term and the long term? In a model with perfect competition, without problems involving delivery quality, and with free scalable capacity in both transmission and production, price signals that reflect marginal losses and shortage of transmission capacity are all that is needed. Stepwise investments create a need for measures that are specific to the situation. Price signals reflecting delivery reliability are probably too weak today. Market power may create a need for greater transmission capacity, but gives no reason for new price signals. Tariffs that reduce installed capacity weakens delivery quality and increases the probability of market power

  9. Novel approach to assess local market power considering transmission constraints

    International Nuclear Information System (INIS)

    Li, Canbing; Xia, Qing; Kang, Chongqing; Jiang, Jianjian

    2008-01-01

    Market power (MP) assessment and mitigation affect the efficiency of the generation market. The traditional indices such as HHI and Lerner index can not express local market power, which caused by transmission constraints. Transmission constraints divide the market into some smaller parts. Some generators can abuse their MP in one part but not in the whole market. This paper describes a new approach to assess market power. The main contributions of the new method can be summarized as following. First, the concept of local market is developed, and the whole power system is divided into several local markets, as transmission congestions dividing the market. In the local markets, there are no transmission constraints so local market power does not exist. Then the local market power index (LMPI) is calculated according to market concentration, transmission constraints, and demand-supply ratio. Based on LMPI, the integrated local market power index which describes the whole picture of market can be obtained. It has been proved that the new approach can assess market power exactly, and identify the critical factor that results in market power and where generators are easy to exercise market power. The finding in this paper is helpful for market monitoring and mitigating market power. Moreover, the new index can be used to evaluate the power grid availability to generation competition and the power transmission expansion planning. (author)

  10. 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

  11. Empirical analysis of the spot market implications of price-responsive demand

    International Nuclear Information System (INIS)

    Siddiqui, A.S.

    2006-01-01

    Although electricity is theoretically an inelastic good in the short term, the steep slope of the supply stack implies that even modest response by demand could translate into reduced capacity requirements and significant price decreases. This article examined the effect of price-responsive demand strategies in an actual deregulated electricity industry. Auction data from the New York Independent System Operator (NYISO) day-ahead electricity market were used to form supply stacks for various zones. A simple linear demand function was used to determine the effect of price responsiveness on equilibrium spot market price and consumption. The aim was to quantify the benefits from the pricing protocol and to determine whether modest levels of price elasticity can significantly lower prices and consumption. Market-clearing prices and quantities were estimated using various supply curves in order to quantify the responsiveness necessary to achieve given price reductions. Price response was induced in the demand curve by varying its slope. Estimates were then used to estimate the average level of slope needed to reduce the average market-clearing price during the year by a certain percentage. Results showed that an average slope of -50.04 was necessary for prices to be reduced by 25 per cent. Results also showed that necessary price responses can be ascertained for any desired reduction in the market-clearing price or quantity. Although price responsiveness unambiguously reduces the spot market price and quantity, its effect on the forward price is not yet clear. It was concluded that a separate analysis of peak hours may reveal the effectiveness of enhanced price response. 8 refs., 1 tab., 8 figs

  12. Forecasting electricity spot market prices with a k-factor GIGARCH process

    International Nuclear Information System (INIS)

    Diongue, Abdou Ka; Guegan, Dominique; Vignal, Bertrand

    2009-01-01

    In this article, we investigate conditional mean and conditional variance forecasts using a dynamic model following a k-factor GIGARCH process. Particularly, we provide the analytical expression of the conditional variance of the prediction error. We apply this method to the German electricity price market for the period August 15, 2000-December 31, 2002 and we test spot prices forecasts until one-month ahead forecast. The forecasting performance of the model is compared with a SARIMA-GARCH benchmark model using the year 2003 as the out-of-sample. The proposed model outperforms clearly the benchmark model. We conclude that the k-factor GIGARCH process is a suitable tool to forecast spot prices, using the classical RMSE criteria. (author)

  13. Green power marketing. Volume 1

    International Nuclear Information System (INIS)

    Wiltshire, S.

    2005-01-01

    Selectpower Inc. is an unregulated affiliate of Guelph Hydro and was formed to market green energy alternatives. Details of their Selectwind program were reviewed in this presentation. The program is available to both individuals and organizations. Customers sign a 3 or 5 year agreement to purchase monthly blocks of wind energy at a premium of $6.53 per month, which is billed on their Hydro bill. Details of the program's business strategy and branding policy were presented. The program markets itself by using full page colour newspaper ads, direct mailing and making forms available at Selectpower retail stores, mall kiosks and community events. In addition, Selectwind leaders are profiled in Enernews, and also have a quarterly newsletter. An example of an order form was provided, as well as an outline of Selectwind educational materials and details of their quality assurance procedures, EcoLogo certification and guarantees. Fifty percent of customers currently buy more than 100 kWh per month, and several customers buy 100 per cent equivalent of their electricity use as Selectwind. Minimum Selectwind purchase is 1200 kWh per year with a 3 year contract. Approximately 100 MWh are purchased every month, and 3,607,494 kWh have been sold for the life of the contracts. Selectwind's combined emissions reduction commitments are 3,206 tonnes of CO 2 . It was observed that 45,000 Ontario customer using wind energy represented 6.2 MW of installed capacity. refs., tabs., figs

  14. The development of market power in the Spanish power generation sector: Perspectives after market liberalization

    International Nuclear Information System (INIS)

    Ciarreta, Aitor; Nasirov, Shahriyar; Silva, Carlos

    2016-01-01

    This paper provides a comprehensive analysis of the market power problem in the Spanish power generation sector and examines how and to which extent the market has developed in terms of market power concerns after the market liberalization reforms. The methodology applied in this study includes typical ex-post structural and behavioral measures employed to estimate potential for market power, namely: concentration ratios (CR) (for the largest and the three largest suppliers), the Herfindahl–Hirschman Index (HHI), Entropy, Pivotal Supply Index, the Residual Supply Index and Residual Demand Elasticity (RDE). The results are presented for the two largest Spanish generating companies (Endesa and Iberdrola) acting in the Iberian Electricity Market (MIBEL), and in the Spanish Day-ahead electricity market. The results show evidence that these companies have behaved much more competitively in recent periods than in the beginning of the market liberalization. In addition, the paper discusses important structural and regulatory changes through market liberalization processes in the Spanish Day-ahead electricity market. - Highlights: •Competition and regulation in the Spanish electricity market. •The methodology applied in this study: ex-post structural and behavioral measures. •Key dominant companies behaved more competitively in recent periods. •Important structural and regulatory changes in the Spanish electricity market.

  15. Mathematical models and methods for analysis of distributed power generation on market conditions

    DEFF Research Database (Denmark)

    Schaumburg-Müller, Camilla

    2008-01-01

    day and a common hourly electricity spot price is found. Intra-day markets for balancing power also exist. The raison d’etre for this type of market is that although supply and demand are balanced on a day-ahead basis, actual demand is impossible to forecast with complete accuracy. Thus on the day...... of operation actual demand and planned supply never match precisely. The system operator must then procure so-called balancing power in the intra-day market to maintain the physical balance of the system at all times. The present thesis considers the effects of large amounts of distributed electricity...... in advance as opposed to purchasing the needed volumes in the intra-day balancing market. The thesis itself provides an introduction to the Nordic power system and market with emphasis on the Danish situation. After presenting a few classic topics in power system operation, the situation post...

  16. 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)

  17. Photovoltaic energy in power market

    NARCIS (Netherlands)

    Ho, D.T.; Frunt, J.; Myrzik, J.M.A.

    2009-01-01

    Photovoltaic (PV) penetration in the grid connected power system has been growing. Currently, PV electricity is usually directly sold back to the energy supplier at a fixed price and subsidy. However, subsidies should always be a temporary policy, and will eventually be terminated. A question is

  18. Power market model with energy- and power dimension

    International Nuclear Information System (INIS)

    Johnsen, T.A.; Larsen, B.M.

    1995-01-01

    This report discusses a mathematical model of the Norwegian power market. The year is divided into three seasons. Each season is subdivided into a high-load period and a low-load period according to the demand. High-load occurs in daytime on workdays while low-load occurs at night and on holidays. The model is intended to be a tool for studying variations in prices, production, demand and trade throughout the year in a market of free competition. The model establishes equilibrium prices of electricity in Norway in high-load and low-load periods. Equilibrium prices with added transport tariffs and charges give customer an indication of the cost of using electricity. And the equilibrium prices indicate to the power producers the value of further energy or power capacity. Examples of calculations using the model show that extended export and import between Norway and other countries affect power prices and production in Norway. In the examples, power intensive industry and wood processing are subjected to market prices on energy. World market prices which give unilateral power export in the high-load periods cause the Norwegian power prices to rise strongly. If to the export from Norway in periods of high-load there corresponds import in periods of low-load, then the pressure on the prices in the power market is significantly reduced. A more extensive power exchange implies that foreign power producers may use the Norwegian power system to avoid large variations in their thermal power production. 23 refs., 21 figs., 1 tab

  19. The value of millisecond expiry options in spot foreign exchange markets

    Directory of Open Access Journals (Sweden)

    John Stevenson

    2016-12-01

    Full Text Available The spot foreign exchange marketplaces are split into two types by their respective trading rules: markets with conventional resting orders versus markets with resting that orders that include optionality. This optionality is owned by the counterparty who placed the resting order and provides the option to refuse the aggressive order matched against the resting order. This paper describes and contrasts these two types of markets. A valuation method for these very short expiry options on the later marketplace is proposed. Appropriate historical volatility metrics are defined and applied for these uniquely short expiry timescales. These historical volatility and valuation methods are used to describe some historical intraday periods, and are applied to various trading scenarios. Unique behaviors driven by the value of these options are highlighted. The benefits and risks of trading on these markets are described in light of this valuation approach. The effects of various addition constraints on the liquidity providers for these optionality matching marketplaces are introduced. Through judicious timing of order placement and appropriate constraints on the behaviors of the liquidity providers on these markets, the result is shown to be tighter spreads, greater breath and depth of liquidity, and the high fill ratios than the more conventional non-optionality matching markets.

  20. Green power marketing. Volume 1

    Energy Technology Data Exchange (ETDEWEB)

    Wiltshire, S. [Selectpower Inc., Guelph, ON (Canada)

    2005-07-01

    Selectpower Inc. is an unregulated affiliate of Guelph Hydro and was formed to market green energy alternatives. Details of their Selectwind program were reviewed in this presentation. The program is available to both individuals and organizations. Customers sign a 3 or 5 year agreement to purchase monthly blocks of wind energy at a premium of $6.53 per month, which is billed on their Hydro bill. Details of the program's business strategy and branding policy were presented. The program markets itself by using full page colour newspaper ads, direct mailing and making forms available at Selectpower retail stores, mall kiosks and community events. In addition, Selectwind leaders are profiled in Enernews, and also have a quarterly newsletter. An example of an order form was provided, as well as an outline of Selectwind educational materials and details of their quality assurance procedures, EcoLogo certification and guarantees. Fifty percent of customers currently buy more than 100 kWh per month, and several customers buy 100 per cent equivalent of their electricity use as Selectwind. Minimum Selectwind purchase is 1200 kWh per year with a 3 year contract. Approximately 100 MWh are purchased every month, and 3,607,494 kWh have been sold for the life of the contracts. Selectwind's combined emissions reduction commitments are 3,206 tonnes of CO{sub 2}. It was observed that 45,000 Ontario customer using wind energy represented 6.2 MW of installed capacity. refs., tabs., figs.

  1. Market Prices in a Power Market with more than 50% Wind Power

    DEFF Research Database (Denmark)

    Skytte, Klaus; Grohnheit, Poul Erik

    2018-01-01

    Denmark has the highest proportion of wind power in the world. Wind power provided a world record of 39.1% of the total annual Danish electricity consumption in 2014 with as much as 51.7% in Western Denmark. Many would argue that the present power markets are not designed for such high shares...... of wind power production and that it would be hard to get good and stable prices. However, analyses in this chapter show that the Nordic power market works, extreme events have been few, and the current infrastructure and market organization has been able to handle the amount of wind power installed so...... far. It is found that geographical bidding areas for the wholesale electricity market reflect external transmission constraints caused by wind power. The analyses in this chapter use hourly data from West Denmark—which has the highest share of wind energy in Denmark and which is a separate price area...

  2. Market Prices in a Power Market with more than 50% Wind Power

    DEFF Research Database (Denmark)

    Skytte, Klaus; Grohnheit, Poul Erik

    2017-01-01

    Denmark has the highest proportion of wind power in the world. Wind power provided a world record of 39.1% of the total annual Danish electricity consumption in 2014 with as much as 51.7% in Western Denmark. Many would argue that the present power markets are not designed for such high shares...... of wind power production and that it would be hard to get good and stable prices. However, analyses in this chapter show that the Nordic power market works, extreme events have been few, and the current infrastructure and market organization has been able to handle the amount of wind power installed so...... far. It is found that geographical bidding areas for the wholesale electricity market reflect external transmission constraints caused by wind power. The analyses in this chapter use hourly data from West Denmark—which has the highest share of wind energy in Denmark and which is a separate price area...

  3. The challenge of market power under globalization

    OpenAIRE

    David Arie Mayer-Foulkes

    2014-01-01

    The legacy of Adam Smith leads to a false confidence on the optimality of laissez faire policies for the global market economy. Instead, the polarized character of current globalization deeply affects both developed and underdeveloped economies. Current globalization is characterized by factor exchange between economies of persistently unequal development. This implies the existence of persistent extraordinary market power in transnational corporations, reflected in their disproportionate par...

  4. Development of Danish wind power market

    International Nuclear Information System (INIS)

    Meyer, Niels I.

    2004-01-01

    The modern phase of Danish wind power started after the oil crisis in 1973. Based on long traditions of Danish wind power dating back to the beginning of the century a new commercial phase was initiated by small industrial entrepreneurs with support by the Danish government, the Danish Academy of Technical Sciences and green organizations. During the eighties technological development resulted in increased cost efficiency, while the investment subsidies from the state were gradually phased out. Conflicts between utilities and wind power producers over tariffs and the costs of grid connections, then slowed down the penetration of wind power on the Danish market. In addition, many local municipalities were setting up administrative barriers for wind turbines. These barriers were removed by government intervention in the early nineties when favourable feed-in tariffs were introduced together with easy access to the grid, simple procedures for construction allowances and priority to green electricity. As a result wind power was booming in the Danish home market and Danish turbines achieved a global market share of around 50%. After a change of government in December 2001, however the Danish home market for wind power has more or less collapsed. (Author)

  5. Insurer Market Power Lowers Prices In Numerous Concentrated Provider Markets.

    Science.gov (United States)

    Scheffler, Richard M; Arnold, Daniel R

    2017-09-01

    Using prices of hospital admissions and visits to five types of physicians, we analyzed how provider and insurer market concentration-as measured by the Herfindahl-Hirschman Index (HHI)-interact and are correlated with prices. We found evidence that in the range of the Department of Justice's and Federal Trade Commission's definition of a moderately concentrated market (HHI of 1,500-2,500), insurers have the bargaining power to reduce provider prices in highly concentrated provider markets. In particular, hospital admission prices were 5 percent lower and cardiologist, radiologist, and hematologist/oncologist visit prices were 4 percent, 7 percent, and 19 percent lower, respectively, in markets with high provider concentration and insurer HHI above 2,000, compared to such markets with insurer HHI below 2,000. We did not find evidence that high insurer concentration reduced visit prices for primary care physicians or orthopedists, however. The policy dilemma that arises from our findings is that there are no insurer market mechanisms that will pass a portion of these price reductions on to consumers in the form of lower premiums. Large purchasers of health insurance such as state and federal governments, as well as the use of regulatory approaches, could provide a solution. Project HOPE—The People-to-People Health Foundation, Inc.

  6. Reactive power management and voltage control in deregulated power markets

    Science.gov (United States)

    Spangler, Robert G.

    The research that is the subject of this dissertation is about the management of reactive power and voltage support in the wholesale open access power markets in the United States (US). The purpose of this research is to place decisions about open access market structures, as they relate to reactive power and voltage control, on a logical and consistent economic basis, given the engineering needs of a commercial electric power system. An examination of the electricity markets operating in the US today reveals that current approaches to reactive power management and voltage support are extensions of those based on historical, regulated monopoly electric service. A case for change is built by first looking at the subject of reactive power from an engineering viewpoint and then from an economic perspective. Ultimately, a set of market rules for managing reactive power and voltage support is proposed. The proposal suggests that cost recovery for static and dynamic VARs is appropriately accomplished through the regulated transmission cost of service. Static VAR cost recovery should follow traditional rate recovery methodologies. In the case of dynamic VARs, this work provides a methodology based on the microeconomic theory of the firm for determining such cost. It further suggests that an operational strategy that reduces and limits the use of dynamic VARs, during normal operations, is appropriate. This latter point leads to an increase in the fixed cost of the transmission network but prevents price spikes and short supply situations from affecting, or being affected by, the reactive capability limitations associated with dynamic VARs supplied from synchronous generators. The rules are consistent with a market structure that includes competitive generation and their application will result in the communication of a clear understanding of the responsibilities, related to voltage control, of each type of market entity. In this sense, their application will contribute to

  7. Carbon Pricing, Power Markets and the Competitiveness of Nuclear Power

    International Nuclear Information System (INIS)

    2011-01-01

    This study assesses the competitiveness of nuclear power against coal- and gas-fired power generation in liberalized electricity markets with either CO 2 trading or carbon taxes. It uses daily price data for electricity, gas, coal and carbon from 2005 to 2010, which encompasses the first years of the European Emissions Trading System (EU ETS), the world's foremost carbon trading framework. The study shows that even with modest carbon pricing, competition for new investment in electricity markets will take place between nuclear energy and gas-fired power generation, with coal-fired power struggling to be profitable. The data and analyses contained in this study provide a robust framework for assessing cost and investment issues in liberalized electricity markets with carbon pricing. (authors)

  8. Environmental Assessment for power marketing policy for Southwestern Power Administration

    Energy Technology Data Exchange (ETDEWEB)

    1993-12-01

    Southwestern Power Administration (Southwestern) needs to renew expiring power sales contracts with new term (10 year) sales contracts. The existing contracts have been in place for several years and many will expire over the next ten years. Southwestern completed an Environmental Assessment on the existing power allocation in June, 1979 (a copy of the EA is attached), and there are no proposed additions of any major new generation resources, service to discrete major new loads, or major changes in operating parameters, beyond those included in the existing power allocation. Impacts from a no action plan, proposed alternative, and market power for less than 10 years are described.

  9. Environmental Assessment for power marketing policy for Southwestern Power Administration

    International Nuclear Information System (INIS)

    1993-01-01

    Southwestern Power Administration (Southwestern) needs to renew expiring power sales contracts with new term (10 year) sales contracts. The existing contracts have been in place for several years and many will expire over the next ten years. Southwestern completed an Environmental Assessment on the existing power allocation in June, 1979 (a copy of the EA is attached), and there are no proposed additions of any major new generation resources, service to discrete major new loads, or major changes in operating parameters, beyond those included in the existing power allocation. Impacts from a no action plan, proposed alternative, and market power for less than 10 years are described

  10. Marketing trials, marketing tricks - how to spot them and how to stop them.

    Science.gov (United States)

    Matheson, Alastair

    2017-03-08

    Last this year in this journal, Barbour and colleagues reported a study of "marketing trials" in leading medical journals (Trials 2016;17:31). In this commentary I discuss their research, describe new analyses of the study cohort and consider measures to address marketing within academic medical literature. Barbour et al. sought to identify a subgroup of "marketing trials" within leading medical journals, but in reality, nearly all industry-financed trials serve marketing functions, and many exhibit marketing-related features, including biases, in their framing, methodology or reporting. I conducted new analyses of the cohort of Barbour et al., showing that most trials funded exclusively by drug manufacturers had direct involvement of the manufacturer in design, analysis and reporting, and features supportive of product seeding. However, these commercial enterprises were without exception presented to journal readers as academic-led projects, using attributional spin, which should itself be considered an important form of marketing bias. Barbour et al. correctly conclude that commercial bias in industry clinical trials articles often requires expertise to recognize, and in many cases cannot be identified from the published journal report. Several potential remedies are discussed, including independent clinical research, data sharing, improved reporting guidance, improved tools for assessing research quality, reforms to article attribution, submission checklists and new editorial standards. Medicine's journals have a responsibility to uphold rigorous scientific and reporting standards, require ready trials data access and ensure the commercial dimensions of research are brought prominently to their readers' attention. Failure to meet these responsibilities constitutes an enduring threat to the integrity of biomedical literature.

  11. On the correlation of electricity spot market prices and photovoltaic electricity generation

    International Nuclear Information System (INIS)

    Meyer, Tim; Luther, Joachim

    2004-01-01

    Discussions about market introduction of grid connected photovoltaics (PV) and its costs usually concentrate only on the gross energy produced without taking the time dependency of electricity prices and, thus, the time dependency of the value of PV electricity into account. To make a first approximation of what the effect of the time variance of electricity cost on the value of PV electricity is, the correlation with spot market prices is analysed in this paper. PV is not dispatchable by nature, but is relatively well predictable in the range of one day, if the average of spatially dispersed systems is considered. Thus, this correlation gives a good indication for the additional value of PV electricity

  12. On the correlation of electricity spot market prices and photovoltaic electricity generation

    International Nuclear Information System (INIS)

    Meyer, T.; Luther, J.

    2004-01-01

    Discussions about market introduction of grid connected photovoltaics (PV) and its costs usually concentrate only on the gross energy produced without taking the time dependency of electricity prices and, thus, the time dependency of the value of PV electricity into account. To make a first approximation of what the effect of the time variance of electricity cost on the value of PV electricity is, the correlation with spot market prices is analysed in this paper. PV is not dispatchable by nature, but is relatively well predictable in the range of one day, if the average of spatially dispersed systems is considered. Thus, this correlation gives a good indication for the additional value of PV electricity. (Author)

  13. Financing power projects in emerging markets

    International Nuclear Information System (INIS)

    Matsumoto, G.T.

    1996-01-01

    Financing for power generation projects in the developing countries of the world has been provided by the United States Export-Import Bank. The loans provided by its new Project Finance Division, totalling $8.3 billion are described. The future of project financing for the power generation industry should, it is argued, rest not with government financing agencies, but with private sector financial markets. (UK)

  14. Canada in the world power market

    International Nuclear Information System (INIS)

    Anon.

    1980-01-01

    Canadian exports around the world are discussed. Canada is already playing a role, or has entered into an agreement with development of nuclear power in Argentina, South Korea, Romania and Mexico. Power generation projects are underway in parts of Asia, Africa and Pacific regions. Exports are taking place to Central and South America, Europe and the Middle East. Federal government assistance in the export market is also discussed. (T.I.)

  15. The market value of nuclear power

    International Nuclear Information System (INIS)

    Gupta, N.K.; Thompson, H.G. Jr.

    1999-01-01

    What are the factors and circumstances that have made some plants more valuable to others than to their original owners? What is currently keeping nuclear plants, with their relatively low operating cost and environmental impacts, at the bottom of the heap? Why will some nuclear plants have significantly higher market values in the future while others will fail? What circumstances are likely to change in the near future that could significantly alter this market? In this article, the authors address these questions and attempt to provide insights into the unique market for nuclear power. The authors will proceed by first introducing the components of generation asset valuation, then discussing recent experiences with the sales of non-nuclear and nuclear power plants. Next, the authors will provide some explanation for why non-nuclear assets are enjoying a robust market while the market for nuclear plants remains immature. Finally, the authors present an analysis of the future value of nuclear power and a view of one road to take to get there

  16. The market value of nuclear power

    Energy Technology Data Exchange (ETDEWEB)

    Gupta, N.K.; Thompson, H.G. Jr.

    1999-10-01

    What are the factors and circumstances that have made some plants more valuable to others than to their original owners? What is currently keeping nuclear plants, with their relatively low operating cost and environmental impacts, at the bottom of the heap? Why will some nuclear plants have significantly higher market values in the future while others will fail? What circumstances are likely to change in the near future that could significantly alter this market? In this article, the authors address these questions and attempt to provide insights into the unique market for nuclear power. The authors will proceed by first introducing the components of generation asset valuation, then discussing recent experiences with the sales of non-nuclear and nuclear power plants. Next, the authors will provide some explanation for why non-nuclear assets are enjoying a robust market while the market for nuclear plants remains immature. Finally, the authors present an analysis of the future value of nuclear power and a view of one road to take to get there.

  17. Genetic Spot Optimization for Peak Power Estimation in Large VLSI Circuits

    Directory of Open Access Journals (Sweden)

    Michael S. Hsiao

    2002-01-01

    Full Text Available Estimating peak power involves optimization of the circuit's switching function. The switching of a given gate is not only dependent on the output capacitance of the node, but also heavily dependent on the gate delays in the circuit, since multiple switching events can result from uneven circuit delay paths in the circuit. Genetic spot expansion and optimization are proposed in this paper to estimate tight peak power bounds for large sequential circuits. The optimization spot shifts and expands dynamically based on the maximum power potential (MPP of the nodes under optimization. Four genetic spot optimization heuristics are studied for sequential circuits. Experimental results showed an average of 70.7% tighter peak power bounds for large sequential benchmark circuits was achieved in short execution times.

  18. An equal opportunity power market

    International Nuclear Information System (INIS)

    Williams, P.L.

    1992-01-01

    As the House and Senate head to conference on the energy bill, the outlook for PUHCA reform and mandatory wholesale transmission access is excellent. During the opening months of 1991, the US Senate was debating the administration's proposal for a comprehensive national energy strategy. Reform of the Public Utilities Holding Company Act of 1935 (PUHCA) was a controversial issue in that debate. Independent energy producers and others strongly supported reform but investor-owned utilities were sharply split on the issue. The Senate refused to consider transmission access, and it was the one issue which had the potential to unite the investor-owned utility community in opposition to PUHCA reform. Now, as we approach the mid-point of 1992, the Senate and the House have passed energy bills and are headed to conference to work out their differences. There is no longer effective opposition to PUHCA reform, and although the Senate would still prefer to avoid the issue, transmission access appears likely to be included in the final energy package. Energy legislation will almost certainly be enacted before the November elections and was expected possibly as early as June. This article addresses transmission access, transmission policies, voluntary transmission, independent power producers influence, the retail wheeling juggernaut, and Public Utilities Holding Company Act reform

  19. Impacts of subsidized renewable electricity generation on spot market prices in Germany: evidence from a Garch model with panel data

    International Nuclear Information System (INIS)

    Pham, Thao; Lemoine, Killian

    2015-01-01

    Electricity generated by renewable energy sources creates a downward pressure on wholesale prices through - the so-called 'merit order effect'. This effect tends to lower average power prices and average market revenue that renewables producers should have received, making integration costs of renewables very high at large penetration rate. It is therefore crucial to determine the amplitude of this merit order effect particularly in the context of increasing burden of renewable support policies borne by final consumers. Using hourly data for the period 2009-2012 in German electricity wholesale market for GARCH model under panel data framework, we find that wind and solar power generation injected into German electricity network during this period induces a decrease of electricity spot prices and a slight increase of their volatility. The model-based results suggest that the merit-order effect created by renewable production ranges from 3.86 to 8.34 euro/MWh which implies to the annual volume of consumers' surplus from 1.89 to 3.92 billion euros. However this surplus has not been re-distributed equally among different types of electricity consumers. (authors)

  20. Market: why is thermal solar power down?

    International Nuclear Information System (INIS)

    Le Jannic, N.

    2010-01-01

    After a 10 year period of steady growth the French market of the thermal solar power dropped by 15% in 2009. Only 265.000 m 2 were installed instead of 313.000 m 2 in 2008. The main reason of this decrease is the economic crisis: the European market for thermal solar energy dropped by 10%. The second reason is the unfair competition of the photovoltaic power that benefits from very favourable electricity purchase prices, from higher subsidies and from a better image in the public's eye. Another competitor on the market is the new equipment called 'thermodynamic water heater' that involves a heat pump, this equipment is cheaper but only on a short term basis. (A.C.)

  1. Artificial neural networks applied to the prediction of spot prices in the market of electric energy; Redes neurais artificiais aplicadas na previsao de precos spot no mercado de energia eletrica

    Energy Technology Data Exchange (ETDEWEB)

    Rodrigues, Alcantaro Lemes; Grimoni, Jose Aquiles Baesso [Univesidade de Sao Paulo (USP), SP (Brazil). Inst. de Eletrotecnica e Energia], emails: alcantaro@iee.usp.br, aquiles@iee.usp.br

    2010-07-01

    The commercialization of electricity in Brazil as well as in the world has undergone several changes over the past 20 years. In order to achieve an economic balance between supply and demand of the good called electricity, stakeholders in this market follow both rules set by society (government, companies and consumers) and set by the laws of nature (hydrology). To deal with such complex issues, various studies have been conducted in the area of computational heuristics. This work aims to develop a software to forecast spot market prices in using artificial neural networks (ANN). ANNs are widely used in various applications especially in computational heuristics, where non-linear systems have computational challenges difficult to overcome because of the effect named 'curse of dimensionality'. This effect is due to the fact that the current computational power is not enough to handle problems with such a high combination of variables. The challenge of forecasting prices depends on factors such as: (a) foresee the demand evolution (electric load); (b) the forecast of supply (reservoirs, hydrology and climate), capacity factor; and (c) the balance of the economy (pricing, auctions, foreign markets influence, economic policy, government budget and government policy). These factors are considered be used in the forecasting model for spot market prices and the results of its effectiveness are tested and huge presented. (author)

  2. Local Buyer Market Power and Horizontally Differentiated Manufacturers

    OpenAIRE

    Wang, Shinn-Shyr; Rojas, Christian; Lavoie, Nathalie

    2010-01-01

    In this paper we study a farmer-processor relationship, where market power is bidirectional: processors have buyer as well as seller market power. Farmers supply a homogeneous raw input to the processors, which, in turn, process it into a horizontally differentiated product. The analysis shows that the spread between prices that both parties receive can be decomposed into two components: one due to buyer market power in the agricultural input market and one due to seller market power in the d...

  3. International technologies market for coal thermal power plants

    International Nuclear Information System (INIS)

    1998-01-01

    This paper reports a general framework of potential market of clean coal combustion technologies in thermal power plants, specially for commercialization and market penetration in developing countries [it

  4. 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

  5. Optimization of Joint Power and Bandwidth Allocation in Multi-Spot-Beam Satellite Communication Systems

    Directory of Open Access Journals (Sweden)

    Heng Wang

    2014-01-01

    Full Text Available Multi-spot-beam technique has been widely applied in modern satellite communication systems. However, the satellite power and bandwidth resources in a multi-spot-beam satellite communication system are scarce and expensive; it is urgent to utilize the resources efficiently. To this end, dynamically allocating the power and bandwidth is an available way. This paper initially formulates the problem of resource joint allocation as a convex optimization problem, taking into account a compromise between the maximum total system capacity and the fairness among the spot beams. A joint bandwidth and power allocation iterative algorithm based on duality theory is then proposed to obtain the optimal solution of this optimization problem. Compared with the existing separate bandwidth or power optimal allocation algorithms, it is shown that the joint allocation algorithm improves both the total system capacity and the fairness among spot beams. Moreover, it is easy to be implemented in practice, as the computational complexity of the proposed algorithm is linear with the number of spot beams.

  6. New wholesale power market design using linked forward markets :

    Energy Technology Data Exchange (ETDEWEB)

    Silva Monroy, Cesar Augusto; Loose, Verne William; Ellison, James F.; Elliott, Ryan Thomas; Byrne, Raymond Harry; Guttromson, Ross; Tesfatsion, Leigh S.

    2013-04-01

    This report proposes a reformulation of U.S. ISO/RTO-managed wholesale electric power mar- kets for improved reliability and e ciency of system operations. Current markets do not specify or compensate primary frequency response. They also unnecessarily limit the participation of new technologies in reserve markets and o er insu cient economic inducements for new capacity invest- ment. In the proposed market reformulation, energy products are represented as physically-covered rm contracts and reserve products as physically-covered call option contracts. Trading of these products is supported by a backbone of linked ISO/RTO-managed forward markets with planning horizons ranging from multiple years to minutes ahead. A principal advantage of this reformulation is that reserve needs can be speci ed in detail, and resources can o er the services for which they are best suited, without being forced to conform to rigid reserve product de nitions. This should improve the business case for electric energy storage and other emerging technologies to provide reserve. In addition, the facilitation of price discovery should help to ensure e cient energy/reserve procurement and adequate levels of new capacity investment.

  7. Real-time Pricing in Power Markets

    DEFF Research Database (Denmark)

    Boom, Anette; Schwenen, Sebastian

    We examine welfare e ects of real-time pricing in electricity markets. Before stochastic energy demand is known, competitive retailers contract with nal consumers who exogenously do not have real-time meters. After demand is realized, two electricity generators compete in a uniform price auction...... to satisfy demand from retailers acting on behalf of subscribed customers and from consumers with real-time meters. Increasing the number of consumers on real-time pricing does not always increase welfare since risk-averse consumers dislike uncertain and high prices arising through market power...

  8. Real-time Pricing in Power Markets

    DEFF Research Database (Denmark)

    Boom, Anette; Schwenen, Sebastian

    We examine welfare eects of real-time pricing in electricity markets. Before stochastic energy demand is known, competitive retailers contract with nal consumers who exogenously do not have real-time meters. After demand is realized, two electricity generators compete in a uniform price auction...... to satisfy demand from retailers acting on behalf of subscribed customers and from consumers with real-time meters. Increasing the number of consumers on real-time pricing does not always increase welfare since risk-averse consumers dislike uncertain and high prices arising through market power...

  9. Power system models - A description of power markets and outline of market modelling in Wilmar

    International Nuclear Information System (INIS)

    Meibom, P.; Morthors, P.E.; Nielsen, L.H.; Weber, C.; Snader, K.; Swider, D.; Ravn, H.

    2003-12-01

    This report is Deliverable 3.2 of the Wilmar project. The report describes the power markets in the Nordic countries and Germany, together with the market models to be implemented in the Wilmar Planning model-ling tool developed in the project. (au)

  10. 18 CFR 284.503 - Market-power determination.

    Science.gov (United States)

    2010-04-01

    ... 18 Conservation of Power and Water Resources 1 2010-04-01 2010-04-01 false Market-power determination. 284.503 Section 284.503 Conservation of Power and Water Resources FEDERAL ENERGY REGULATORY... RELATED AUTHORITIES Applications for Market-Based Rates for Storage § 284.503 Market-power determination...

  11. Analysis of M-stationary points to an EPEC modeling oligopolistic competition in an electricity spot market

    Czech Academy of Sciences Publication Activity Database

    Henrion, R.; Outrata, Jiří; Surowiec, T.

    2012-01-01

    Roč. 18, č. 2 (2012), s. 295-317 ISSN 1292-8119 R&D Projects: GA ČR GA201/09/1957 Institutional support: RVO:67985556 Keywords : Equilibrium problems with equilibrium constraints * EPEC * M-stationary solutions * electricity spot market * calmness Subject RIV: BA - General Mathematics Impact factor: 1.282, year: 2012 http://library.utia.cas.cz/separaty/2012/MTR/outrata-analysis of m-stationary points to an epec modeling oligopolistic competition in an electricity spot market.pdf

  12. PRICING ELECTRIC POWER UNDER A HYBRID WHOLESALE MECHANISM: EVALUATING THE TURKISH ELECTRICITY MARKET

    Directory of Open Access Journals (Sweden)

    Hatice Karahan

    2013-01-01

    Full Text Available During the restructuring process, Turkish electricity sector has gone through significant changes both in wholesale and retail markets. In this framework, the Market Financial Settlement Mechanism established for handling market imbalances has become a spot market in time. So, it can be claimed that the wholesale electricity market in Turkey is a hybrid mechanism composed of bilateral contracts and the balancing market. On the other hand, the main target of liberalization program is providing consumers with affordable electric power. Hence, this study attempts to explore the link between retail tariffs for ineligible consumers and prices in the two wholesale mechanisms, in the period after the launch of the day-ahead market. Findings suggest that regulated wholesale prices are more effective in the determination of end-user prices, whereas unregulated ones might have a price reduction effect in case the free market dominates. However, the volatility in spot market prices implies that the sector would better continue with the hybrid mechanism for quite some time.

  13. 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)

  14. 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

  15. Statistical Analysis of the Impact of Wind Power on Market Quantities and Power Flows

    DEFF Research Database (Denmark)

    Pinson, Pierre; Jónsson, Tryggvi; Zugno, Marco

    2012-01-01

    In view of the increasing penetration of wind power in a number of power systems and markets worldwide, we discuss some of the impacts that wind energy may have on market quantities and cross-border power flows. These impacts are uncovered through statistical analyses of actual market and flow data...... of load and wind power forecasts on Danish and German electricity markets....

  16. Are daily and weekly load and spot price dynamics in Australia's National Electricity Market governed by episodic nonlinearity?

    International Nuclear Information System (INIS)

    Wild, Phillip; Hinich, Melvin J.; Foster, John

    2010-01-01

    In this article, we use half hourly spot electricity prices and load data for the National Electricity Market (NEM) of Australia for the period from December 1998 to June 2009 to test for episodic nonlinearity in the dynamics governing daily and weekly cycles in load and spot price time series data. We apply the portmanteau correlation, bicorrelation and tricorrelation tests introduced in Hinich (1996) to the time series of half hourly spot prices and load demand from 7/12/1998 to 30/06/2009 using a FORTRAN 95 program. We find the presence of significant third and fourth-order (nonlinear) serial dependence in the weekly load and spot price data in particular, but to a much more marginal extent, in the daily data. (author)

  17. Do we need a power exchange if there are enough power marketers ?

    OpenAIRE

    SMEERS, Yves; WEI, Jing-Yuan

    1997-01-01

    Decentralization in electricity restructuring is a growing trend that Power Marketers are ex- pected to take advantage of. We consider a market composed of Power Marketers, an Indepen- dent System Operator, generators and retailers. Power Marketers behave a` la Cournot-Nash and the ISO implements a Transmission Capacity Reservation market a` la FERC. Retailers are price taker. Generators’ behavior is only reflected in the purchase costs of the Power Marketers. Their behavior is thus not reall...

  18. 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

  19. 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

  20. Information Brief on Green Power Marketing, 2nd Edition

    Energy Technology Data Exchange (ETDEWEB)

    Sweezey, B.; Houston, A.

    1998-02-01

    This document is the second in a series of information briefs on green power marketing activity in the United States. It includes descriptions of utility green pricing programs, green power marketing activity, retail access legislation and pilot programs, and other data and information supporting the development of green power markets.

  1. 18 CFR 35.37 - Market power analysis required.

    Science.gov (United States)

    2010-04-01

    ... 18 Conservation of Power and Water Resources 1 2010-04-01 2010-04-01 false Market power analysis required. 35.37 Section 35.37 Conservation of Power and Water Resources FEDERAL ENERGY REGULATORY... Wholesale Sales of Electric Energy, Capacity and Ancillary Services at Market-Based Rates § 35.37 Market...

  2. Dutch Wholesale Power Market Review 2002. Executive Summary

    International Nuclear Information System (INIS)

    Vollebregt, T.; Rusch, H.

    2002-01-01

    Chapter 1 provides a background to the Dutch power market, covering generation, transmission, distribution, supply, and laws and regulations. Chapter 2 reviews the key market events during 2001 and early 2002, providing analysis and background on an important and tumultuous period in the Dutch market. Chapter 3 explains the structure and timing of the key market mechanisms (Amsterdam Power Exchange, interconnector capacity auctions, TenneT 15-minute balancing market). Chapter 4 briefly reviews fuel price developments and discusses their impact on the costs of generation. Chapter 5 contains a detailed review of the traded Dutch power markets (APX, OTC, interconnection), including the linkages between these markets and an analysis of arbitrage opportunities

  3. Research on market power and market structure: A direct measure of market power of internet platform enterprises

    Directory of Open Access Journals (Sweden)

    Baowen Sun

    2017-09-01

    Full Text Available Purpose – This paper aims to clear whether the monopoly structure of the internet industry has produced market power and discussed the welfare change of the internet industry monopoly. Design/methodology/approach – By using new empirical industrial organization methods and taking the e-commerce market as an example, the authors measured market power and economies of scale of the internet platform companies. Findings – Internet platform enterprises have formed scale economy, but it has not had market power, and the industry still maintains high levels of competition; also, the emergence of large enterprises may increase the welfare of consumers. Originality/value – The conclusion of this paper clarified actual competition status of internet industry and provided a new foothold for regulation and ideas for the traditional industry to crack the Marshall Conflict.

  4. New Markets for Solar Photovoltaic Power Systems

    Science.gov (United States)

    Thomas, Chacko; Jennings, Philip; Singh, Dilawar

    2007-10-01

    Over the past five years solar photovoltaic (PV) power supply systems have matured and are now being deployed on a much larger scale. The traditional small-scale remote area power supply systems are still important and village electrification is also a large and growing market but large scale, grid-connected systems and building integrated systems are now being deployed in many countries. This growth has been aided by imaginative government policies in several countries and the overall result is a growth rate of over 40% per annum in the sales of PV systems. Optimistic forecasts are being made about the future of PV power as a major source of sustainable energy. Plans are now being formulated by the IEA for very large-scale PV installations of more than 100 MW peak output. The Australian Government has announced a subsidy for a large solar photovoltaic power station of 154 MW in Victoria, based on the concentrator technology developed in Australia. In Western Australia a proposal has been submitted to the State Government for a 2 MW photovoltaic power system to provide fringe of grid support at Perenjori. This paper outlines the technologies, designs, management and policies that underpin these exciting developments in solar PV power.

  5. Sharing wind power forecasts in electricity markets: A numerical analysis

    DEFF Research Database (Denmark)

    Exizidis, Lazaros; Pinson, Pierre; Kazempour, Jalal

    2016-01-01

    In an electricity pool with significant share of wind power, all generators including conventional and wind power units are generally scheduled in a day-ahead market based on wind power forecasts. Then, a real-time market is cleared given the updated wind power forecast and fixed day......-ahead decisions to adjust power imbalances. This sequential market-clearing process may cope with serious operational challenges such as severe power shortage in real-time due to erroneous wind power forecasts in day-ahead market. To overcome such situations, several solutions can be considered such as adding...... flexible resources to the system. In this paper, we address another potential solution based on information sharing in which market players share their own wind power forecasts with others in day-ahead market. This solution may improve the functioning of sequential market-clearing process through making...

  6. Waste Heat to Power Market Assessment

    Energy Technology Data Exchange (ETDEWEB)

    Elson, Amelia [ICF International, Fairfax, VA (United States); Tidball, Rick [ICF International, Fairfax, VA (United States); Hampson, Anne [ICF International, Fairfax, VA (United States)

    2015-03-01

    Waste heat to power (WHP) is the process of capturing heat discarded by an existing process and using that heat to generate electricity. In the industrial sector, waste heat streams are generated by kilns, furnaces, ovens, turbines, engines, and other equipment. In addition to processes at industrial plants, waste heat streams suitable for WHP are generated at field locations, including landfills, compressor stations, and mining sites. Waste heat streams are also produced in the residential and commercial sectors, but compared to industrial sites these waste heat streams typically have lower temperatures and much lower volumetric flow rates. The economic feasibility for WHP declines as the temperature and flow rate decline, and most WHP technologies are therefore applied in industrial markets where waste heat stream characteristics are more favorable. This report provides an assessment of the potential market for WHP in the industrial sector in the United States.

  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. The international power market: Myth and reality

    International Nuclear Information System (INIS)

    Bailly, H.C.; Roseman, E.

    1992-01-01

    As the market for independent power (IP) explodes overseas, a number of companies that have been active in project development in the United States are looking hungrily abroad. Some developers view the international market as less competitive than in the U.S., and many are attracted by its size. The backlog of IP activity overseas has now reached over 140,000 MW, primarily in Asia and Europe. The U.S. has about a ten-year head start on IP projects abroad, where project activity has taken off only in the last three years. In 1978, the Public Utility Regulatory Policies Acr (PURPA) required U.S. utilities to purchase power from developers of qualified facilities (QFs), and in the process, created a business that has thrown to over $10 billion in annual sales. Since 1985, IP has added as much new capacity as utilities. The authors project that in the 1990s, IP will add 45-50 GW of new capacity, or between 40%-50% of total U.S. capacity. With nearly 3,200 IP projects (over 46,000 MW) on line in the U.S., many developers are hoping that their U.S. experience will serve them well in developing projects elsewhere. Moreover, many developers expect that such experience will give them a leg up on foreign competitors, who have few, if any, megawatts on line. Do these hopes reflect the emerging reality, or are they dangerous misinformation? As U.S. developers approach projects elsewhere, what are the key advantages and constraints their U.S. experience confers? This paper reviews five common myths about the international market for IP and compares the U.S. market with the opportunities abroad. In the process, the authors explore issues specific to IP, not general issues of doing business outside the U.S

  10. Wind power investment within a market environment

    International Nuclear Information System (INIS)

    Baringo, L.; Conejo, A.J.

    2011-01-01

    Highlights: → The interaction of a wind power investor and the pool is represented via an MPEC. → The considered electricity pool is cleared through a network constrained auction. → Uncertainty of load and wind production is characterized by a moderate number of scenarios. → The investment model can be recast as a mixed integer linear programming problem. → Large instances of the considered model are computationally tractable. - Abstract: Within an existing transmission network, this paper considers the problem of identifying the wind power plants to be built by a wind power investor to maximize its profit. For this analysis a future target year is considered and the loads at different buses are represented by stepwise load-duration curves. The stochastic nature of both load and wind is represented via scenarios. The considered electric energy system operates under a pool-market arrangement and each producer/consumer is paid/pays the Local Marginal Price (LMP) of the bus at which it is located. The higher the wind penetration is, the lower the resulting LMPs. To tackle this problem a stochastic bilevel model is proposed, whose upper-level represents the wind investment and operation decisions with the target of maximizing profits; and its lower-level represents the market clearing under differing load and wind conditions and provides LMPs. This model can be recast as a mixed-integer linear programming problem solvable using commercially available branch-and-cut solvers. The proposed model is illustrated using an example and two case studies.

  11. 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)

  12. Uniform irradiation of adjustable target spots in high-power laser driver

    International Nuclear Information System (INIS)

    Jiang Xiujuan; Li Jinghui; Li Huagang; Li Yang; Lin Zunqi

    2011-01-01

    For smoothing and shaping the on-target laser patterns flexibly in high-power laser drivers, a scheme has been developed that includes a zoom lens array and two-dimensional smoothing by spectral dispersion (SSD). The size of the target pattern can be controlled handily by adjusting the focal length of the zoom lens array, while the profile of the pattern can be shaped by fine tuning the distance between the target and the focal plane of the principal focusing lens. High-frequency stripes inside the pattern caused by beamlet interference are wiped off by spectral dispersion. Detailed simulations indicate that SSD works somewhat differently for spots of different sizes. For small spots, SSD mainly smooths the intensity modulation of low-to-middle spatial frequency, while for large spots, SSD sweeps the fine speckle structure to reduce nonuniformity of middle-to-high frequency. Spatial spectra of the target patterns are given and their uniformity is evaluated.

  13. Market aspects of smart power grids development

    Directory of Open Access Journals (Sweden)

    Maciej Makowski

    2012-03-01

    Full Text Available Smart Grids herald a revolution in the power sector. The centralized and passive power grid model known for over a century is before our very eyes assuming a completely brand new shape: of an active and dynamic network with an increasingly relevant role of consumers – prosumers, who are offered brand new products and services. Such an active development is possible due to a number of factors, such as: 1. Synergy of ICT with power engineering – these disciplines are becoming an indispensable element of the modern power grid’s operation, 2. The European Union’s regulations in the area of reduction of CO2 emission and improved energy efficiency, as well as identification of Smart Grids as one of the optimum tools, 3. Growth, thanks to continuously increasing expenditures, public awareness of the purchase and rational use of energy. However, the Smart Grid development and ICT implementation in the power sector also carry a risk in the matter of setting up system and process links between the systems of concerned energy market players, which should be mitigated by development of technical standards, methods and principles of good cooperation between the concerned parties. Mitigation of the risk, and as a consequence, effective Smart Grids development will provide conditions for dynamic development of new roles and mechanisms on the energy market. Offering modern products and services to consumers and prosumers, and effective implementation on a national scale of demand management mechanisms will be a source of multidimensional benefits of a functional and financial nature, and will also have a positive impact on the National Lower Grid’s security.

  14. Fast Food, Addiction, and Market Power

    OpenAIRE

    Richards, Timothy J.; Patterson, Paul M.; Hamilton, Stephen F.

    2007-01-01

    Many attribute the rise in obesity since the early 1980's to the overconsumption of fast food. A dynamic model of a different-product industry equilibrium shows that a firm with market power will price below marginal cost in a steady-state equilibrium. A spatial hedonic pricing model is used to test whether fast food firms set prices in order to exploit their inherent addictiveness. The results show that firms price products dense in addictive nutrients below marginal cost, but price products...

  15. Green Power Marketing Abroad: Recent Experience and Trends

    Energy Technology Data Exchange (ETDEWEB)

    Bird, L.; Wustenhagen, R.; Aabakken, J.

    2002-04-01

    Green power marketing--the act of differentially selling electricity generated wholly or in part from renewable sources--has emerged in more than a dozen countries around the world. This report reviews green power marketing activity abroad to gain additional perspective on consumer demand and to discern key factors or policies that affect the development of green power markets. The objective is to draw lessons from experience in other countries that could be applicable to the U.S. market.

  16. Stochastic price modeling of high volatility, mean-reverting, spike-prone commodities: The Australian wholesale spot electricity market

    International Nuclear Information System (INIS)

    Higgs, Helen; Worthington, Andrew

    2008-01-01

    It is commonly known that wholesale spot electricity markets exhibit high price volatility, strong mean-reversion and frequent extreme price spikes. This paper employs a basic stochastic model, a mean-reverting model and a regime-switching model to capture these features in the Australian national electricity market (NEM), comprising the interconnected markets of New South Wales, Queensland, South Australia and Victoria. Daily spot prices from 1 January 1999 to 31 December 2004 are employed. The results show that the regime-switching model outperforms the basic stochastic and mean-reverting models. Electricity prices are also found to exhibit stronger mean-reversion after a price spike than in the normal period, and price volatility is more than fourteen times higher in spike periods than in normal periods. The probability of a spike on any given day ranges between 5.16% in NSW and 9.44% in Victoria

  17. New challenge for the Norwegian electric power market: A free market of power creates stability problems

    International Nuclear Information System (INIS)

    Gjengedal, T.; Rabbe, O.; Ongstad, E.; Uhlen, K.; Hauger, B.; Vormedal, L.; Lysheim, D.

    1997-01-01

    The article relates to problems of grid stability as a consequence of market-based power turnover. In combination with special hydrologic conditions, new approaches are formed concerning power production and transmission. Efficient counter-acting efforts must be initiated at an early stage for power system stabilization also concerning future innovations from the year of 2000. Examples on the development of systems of static magnetization and damping, problems concerning dampers, power grid testing, digital regulators, faults in high voltage 3-phase systems, and evaluation of measures of improvement are discussed. 10 figs

  18. 75 FR 15429 - Dynegy Power Marketing, Inc;. Notice of Filing

    Science.gov (United States)

    2010-03-29

    ... Marketing, Inc;. Notice of Filing March 22, 2010. Take notice that on December 15, 2008, Dynegy Power Marketing, Inc., Dynegy Power Corp., El Segundo Power LLC, Long Beach Generation LLC, Cabrillo Power I LLC... Commission, 888 First Street, NE., Washington, DC 20426. This filing is accessible online at http://www.ferc...

  19. Linking the grids : marketing power across the border

    International Nuclear Information System (INIS)

    Lawrence, G.K.

    1998-01-01

    A review of U.S. regulations such as Federal Energy Regulatory Commission (FERC) order 888 and 889, regarding the transmission and distribution of electricity by electric utilities was presented. This presentation outlined FERC market power tests for power marketer applications. Meeting the 'Market Power' Test requirements means that FERC will allow a power marketer to sell power at market-based rates provided that the applicant can demonstrate that (1) neither it, nor its affiliates, is a dominant firm in generation sales in the relevant market, (2) owns or controls transmission facilities, (3) can erect or control any other barrier to market entry, or (4) abuses the affiliate relationship or has reciprocal dealings. The market power test applies to power marketers affiliated with government-owned Canadian utilities such as Energy Alliance Partnership, TransAlta Enterprises Corp., Ontario Hydro Interconnected Markets, British Columbia Power Exchange Corp., and H.Q. Energy Services (U.S.) Inc. Present state of the FERC applications of each of these power marketers was reviewed. Some lessons learned from U.S. retail natural gas unbundling were described. The general conclusion was that the future for Canadian sales into the U.S. electricity market is exciting, even if meeting FERC conditions is going to be difficult. Those who can, will prosper

  20. The value of flexibility in power markets

    International Nuclear Information System (INIS)

    Goutte, Stephane; Vassilopoulos, Philippe

    2017-01-01

    In this paper we attempt to quantify the net revenues that can be captured by a flexible resource able to react to the short term price variations on the day-ahead and intra-day markets in Germany. We find that the difference between day-ahead and intra-day revenues for a flexible resource has been increasing (although the profitability has been decreasing on both markets). This difference is more pronounced once 15 mn price variations can be captured by a flexible resource. The net revenues from the local 15 mn auction (which is held 3 hours after the hourly 'coupled' day-ahead auction) are more than eight times higher than the day-ahead hourly auction but below the net revenues that can be captured with the high prices from the continuous market. The results of the backward-looking empirical estimations allow us to distinguish and quantify two components of flexibility: (1) the 'immediacy' value as we are approaching real-time and the urgency of the delivery increases (this value is revealed during the continuous intra-day process and is highly linked to the stochastic nature of power supply and demand (i.e. wind/solar forecasts, forced outages of thermal generation,...) forecast error risk), and (2) the 'flexibility' component as a resource can react to variations of shorter granularity (15 mn Vs 60 mn). We model and quantify the 'flexibility' component. (authors)

  1. Optimization of Power Allocation for Multiusers in Multi-Spot-Beam Satellite Communication Systems

    Directory of Open Access Journals (Sweden)

    Heng Wang

    2014-01-01

    Full Text Available In recent years, multi-spot-beam satellite communication systems have played a key role in global seamless communication. However, satellite power resources are scarce and expensive, due to the limitations of satellite platform. Therefore, this paper proposes optimizing the power allocation of each user in order to improve the power utilization efficiency. Initially the capacity allocated to each user is calculated according to the satellite link budget equations, which can be achieved in the practical satellite communication systems. The problem of power allocation is then formulated as a convex optimization, taking account of a trade-off between the maximization of the total system capacity and the fairness of power allocation amongst the users. Finally, an iterative algorithm based on the duality theory is proposed to obtain the optimal solution to the optimization. Compared with the traditional uniform resource allocation or proportional resource allocation algorithms, the proposed optimal power allocation algorithm improves the fairness of power allocation amongst the users. Moreover, the computational complexity of the proposed algorithm is linear with both the numbers of the spot beams and users. As a result, the proposed power allocation algorithm is easy to be implemented in practice.

  2. Nuclear power in the UK electricity market

    International Nuclear Information System (INIS)

    Coffey, J.M.

    1995-01-01

    Nuclear Electric was formed in the public sector to operate only nuclear power plant, and the Company has been foremost in developing the UK's capability for PWR design and construction. It is now obliged to compete on equal terms with privately-owned generators, and we have made it clear that we would invest in further nuclear plant only if the terms were commercially attractive to the company. The competitive environment in which we now operate has led us to recognise that the priority for the Company in the Nuclear Review is to seek the commercial flexibility which accompanies privatisation. Accordingly, our evidence to the Government in the Nuclear Review has shown that the problems of confidence which surrounded nuclear power in 1989 have been substantially resolved. The improved accounting costs and low avoidable costs of the existing stations make the commercial case for their continued operation. The completion of Szewell B has not only given us a gist class new, profitable power plant, but given confidence in the costs and performance of any follow-on PWRs. In the longer term, a greater recognition of the external environmental costs of fossil-fuel generation may swing the market in favour of nuclar power construction. (orig.) [de

  3. 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.

  4. Dynamic market behaviour of autonomous network based power systems

    NARCIS (Netherlands)

    Jokic, A.; Wittebol, E.H.M.; Bosch, van den P.P.J.

    2006-01-01

    Dynamic models of real-time markets are important since they lead to additional insights of the behavior and stability of power system markets. The main topic of this paper is the analysis of real-time market dynamics in a novel power system structure that is based on the concept of autonomous

  5. Prospects of the French offshore wind power market

    International Nuclear Information System (INIS)

    Anon.

    2011-12-01

    This market study about the French offshore wind power industry presents: 1 - the bases of the offshore wind power market: wind turbine operation principle, foundations and scale change; 2 - business model of offshore wind power projects: logistical, technical and financial challenges, cost structure and profitability of projects (investment, power generation costs, incentive mechanisms), project development time; 3 - European and French regulatory framework: the energy/climate package, the French 'Grenelle de l'Environnement' commitments for the development of renewable energies; 4 - start up of the French offshore wind power market: the onshore wind power market looking for growth relaying, the lateness of the offshore market, outlines of the call for bids and of the first phase launching (schedule, selected sites and candidates), market development stakes and opportunities; 5 - offshore wind power overview in Europe - lessons for the French market prospects: status of the European market (installed power/country, projects in progress), European leaders of the market (analysis of the British, Danish and German markets successful takeoff), specificities of the French market (are all favourable conditions present?); 6 - takeoff of the French market - what opportunities on the overall value chain?: front-end of the industry (manufacturers and component suppliers: industry structure, competition, R and D, subcontractors in France), back-end of the industry (developers/operators: sector analysis, ambitions, alliances, competences), specific French know-how in offshore installation and connection of wind turbines (reconversion of harbour areas, re-positioning of shipbuilding industry). (J.S.)

  6. Modeling methods for GenCo bidding strategy optimization in the liberalized electricity spot market-A state-of-the-art review

    International Nuclear Information System (INIS)

    Li, Gong; Shi, Jing; Qu, Xiuli

    2011-01-01

    The electricity market has since 1980s been gradually evolving from a monopoly market into a liberalized one for encouraging competition and improving efficiency. This brings the opportunity for generation companies (GenCos) to make more profits while embracing more risks of not being dispatched. Therefore, it has become a core interest for the GenCos to develop optimal bidding strategies to maximize the profits and minimize the risks while participating in such a competitive market. The literature pertaining to this issue has grown rapidly in recent years, and many different modeling approaches, such as mathematical programming, game theory, and agent-based models, have been investigated under the liberalized market environment. Meanwhile, along with the increasing penetration of renewable energy, the electricity market is facing more complexity and stochasticity from both uncertain generation and dynamic demands. The intermittent and unsteady nature of these renewable power sources motivates the GenCos to further optimize their bidding strategy by considering the new constraints. This paper presents a comprehensive literature analysis on the state-of-the-art research of bidding strategy modeling methods. -- Highlights: → Publications on bidding in electricity spot markets are comprehensively reviewed. → Insights on the evolution of solution methodologies of recent 10 years are provided. → The pros and cons of these solution approaches are also discussed. → Future research directions, with renewable energy participations, are pointed out.

  7. Studies in market-based electric power trade and regulation

    International Nuclear Information System (INIS)

    Hope, Einar

    2000-01-01

    This is a compilation of articles written by the author during the last fifteen years. Most of the articles are related to the reform of the Norwegian electric power market. This reform led to the Energy Act of 1990 and to the subsequent development of the power markets. Some of the sections are in Norwegian, some in English. The sections discuss (1) Markets for electricity trade in Norway, (2) Economic incentives and public firm behaviour, (3) Market alternatives to the present forms of occasional power trade, (4) Socio-economic considerations about electricity pricing, (5) Scenarios for market based power trade in Norway, (6) Markets for electricity: economic reform of the Norwegian electricity industry, (7) The Norwegian power market, (8) A common Nordic energy market?, (9) Organization of supply markets for natural gas in Europe, (10) The extent of the central grid, (11) Optimum regulation of grid monopolies in the power trade, (12) Power markets and competition policy, (13) Deregulation of the Norwegian power sector, (14) designing a market based system for the Icelandic electricity industry and (15) regulation regimes for the power sector

  8. Positioning marketing in the hospital's power structure.

    Science.gov (United States)

    Beckham, D

    1984-08-01

    Although hospitals are increasingly recognizing the importance of marketing, many have difficulty assimilating what has been primarily an industrial concern into a health care environment. The author explains the function of marketing in health care, the outlook and expectations of a good marketing executive, and why hospital management and the medical staff may have difficulty accepting marketing and the expectations of the marketing executive.

  9. Market power in interactive environmental and energy markets: the case of green certificates

    International Nuclear Information System (INIS)

    Amundsen, Eirik S.; Nese, Gjermund

    2004-01-01

    Markets for environmental externalities are typically closely related to the markets causing such externalities, whereupon strategic interaction may result. Along these lines, the market for Green Certificates is strongly interwoven in the electricity market as the producers of green electricity are also the suppliers of Green Certificates. In this paper, we formulate an analytic equilibrium model for simultaneously functioning electricity and Green Certificate markets, and focus on the role of market power. We consider two versions of a Nash-Cournot game: a standard Nash-Cournot game where the players treat the market for Green Certificates and the electricity market as separate markets; and a Nash-Cournot game with endogenous treatment of the interaction between the electricity and Green Certificate markets with conjectured price responses. One result is that a certificate system faced with market power may collapse into a system of per unit subsidies, as the producers involved start to game on the joint functioning of markets. (author)

  10. Multifractal features of spot rates in the Liquid Petroleum Gas shipping market

    International Nuclear Information System (INIS)

    Engelen, Steve; Norouzzadeh, Payam; Rahmani, Bahareh; Dullaert, Wout

    2011-01-01

    We investigate for the first time the spot rate dynamics of Very Large Gas Carriers (VLGCs) by means of multifractal detrended fluctuation analysis (MF-DFA) and rescaled range (R/S) analysis. Both non-parametric methods allow for a rigorous statistical analysis of the freight process by detecting correlation, scaling and fluctuation behavior regardless of nonlinearity issues. By applying different data-frequencies and a temporal framework, the Hurst exponents indicate that freight rates exhibit trend-reinforcement and persistence subject to limited time-dependency and controlled volatility. The found long-range dependence corroborates that a predictive freight model can be built undermining the efficient market hypothesis. Memory effects seem to each time build up until they are interrupted by seasonal transitions, stochastic events or cycles which all spark a sudden loss in correlations or increase in nonlinearities. The surrogate and shuffling data procedures demonstrate that, dependent on the data-frequency used, memory effects and fat-tail distributions should be contained differently in freight rate models. (author)

  11. Small Signal Stability Improvement of Power Systems Using Optimal Load Responses in Competitive Electricity Markets

    DEFF Research Database (Denmark)

    Hu, Weihao; Su, Chi; Chen, Zhe

    2011-01-01

    Since the hourly spot market price is available one day ahead in Denmark, the price could be transferred to the consumers and they may shift some of their loads from high price periods to the low price periods in order to save their energy costs. The optimal load response to an electricity price...... price is proposed. A 17-bus power system with high wind power penetrations, which resembles the Eastern Danish power system, is chosen as the study case. Simulation results show that the optimal load response to electricity prices is an effective measure to improve the small signal stability of power...... for demand side management generates different load profiles and may provide an opportunity to improve the small signal stability of power systems with high wind power penetrations. In this paper, the idea of power system small signal stability improvement by using optimal load response to the electricity...

  12. Pay-as-bid based reactive power market

    International Nuclear Information System (INIS)

    Amjady, N.; Rabiee, A.; Shayanfar, H.A.

    2010-01-01

    In energy market clearing, the offers are stacked in increasing order and the offer that intersects demand curve, determines the market clearing price (MCP). In reactive power market, the location of reactive power compensator is so important. A low cost reactive producer may not essentially be favorable if it is far from the consumer. Likewise, a high cost local reactive compensator at a heavily loaded demand center of network could be inevitably an alternative required to produce reactive power to maintain the integrity of power system. Given the background, this paper presents a day-ahead reactive power market based on pay-as-bid (PAB) mechanism. Generators expected payment function (EPF) is used to construct a bidding framework. Then, total payment function (TPF) of generators is used as the objective function of optimal power flow (OPF) problem to clear the PAB based market. The CIGRE-32 bus test system is used to examine the effectiveness of the proposed reactive power market.

  13. Pay-as-bid based reactive power market

    Energy Technology Data Exchange (ETDEWEB)

    Amjady, N. [Department of Electrical Engineering, Semnan University, Semnan (Iran, Islamic Republic of); Rabiee, A., E-mail: Rabiee@iust.ac.i [Center of Excellence for Power System Automation and Operation, Department of Electrical Engineering, Iran University of Science and Technology, Tehran (Iran, Islamic Republic of); Shayanfar, H.A. [Center of Excellence for Power System Automation and Operation, Department of Electrical Engineering, Iran University of Science and Technology, Tehran (Iran, Islamic Republic of)

    2010-02-15

    In energy market clearing, the offers are stacked in increasing order and the offer that intersects demand curve, determines the market clearing price (MCP). In reactive power market, the location of reactive power compensator is so important. A low cost reactive producer may not essentially be favorable if it is far from the consumer. Likewise, a high cost local reactive compensator at a heavily loaded demand center of network could be inevitably an alternative required to produce reactive power to maintain the integrity of power system. Given the background, this paper presents a day-ahead reactive power market based on pay-as-bid (PAB) mechanism. Generators expected payment function (EPF) is used to construct a bidding framework. Then, total payment function (TPF) of generators is used as the objective function of optimal power flow (OPF) problem to clear the PAB based market. The CIGRE-32 bus test system is used to examine the effectiveness of the proposed reactive power market.

  14. Wind power merit-order and feed-in-tariffs effect: A variability analysis of the Spanish electricity market

    International Nuclear Information System (INIS)

    Azofra, D.; Jiménez, E.; Martínez, E.; Blanco, J.; Saenz-Díez, J.C.

    2014-01-01

    Highlights: • M5P algorithm-based model determines influence of wind power on Spanish spot market. • Assessment of the wind power influence for different levels of wind resource. • Cost-benefit analysis is developed, accounting feed-in-tariffs and merit order effect. • The worst and best levels of wind power production for the system are determined. - Abstract: The incipient large-scale energy-storage technologies are not sufficiently developed yet, which means that the wind power production depends on the wind speed at every moment. This, along with the fact that the wind resource is not constant over time, makes wind power production quite variable. Therefore, an artificial intelligence-based technique (M5P algorithm) is applied to empirical hourly data to determine the influence of wind power technology on the spot market for different levels of wind resource in 2012. It concludes that wind power depressed the spot prices between 7.42 and 10.94 €/MW h for a wind power production of 90% and 110% of the real one, respectively. Furthermore, taking into account the important presence of wind power in the Spanish generation mix, the above range has been extended up to 0% in order to determine the worst and best level of wind power production for the Spanish electrical system (from an economical point of view). To do so, both feed-in-tariffs and wind power impact on spot market (merit order effect) have been accounted in accordance with the different levels of wind power production. Since empirical data from 2012 have been used to conduct the research, the results presented in this paper may provide policy makers with a worst and best-case scenario to discuss about the convenience of the last cutting expenses over wind power technology in Spain

  15. Emission reduction trading - a power marketer`s perspective

    Energy Technology Data Exchange (ETDEWEB)

    Stewart, M. [Powerex Inc., Vancouver, BC (Canada)

    1999-10-01

    The current situation , and the short-term and long-term outlook in emission reduction trading are reviewed from the point of view of a power marketer. The author`s view is that while the concept of emission reduction credit (ERC) is easy enough to understand, i.e. a series of measures to reduce carbon dioxide production and enhance carbon sequestration, there is no standard definition, although there are a number of models under consideration. What is being sought is clear ownership and title, a clear understanding of what qualifies as a credit, credit for early action, commodity specifications and the ability to hedge. The author predicts that in the short-tem, industry will experiment with different types of transactions to gain experience and seek partners who are willing to share risk and development cost. In the longer-term, emission reduction credits will be bought and sold as commodities and traded, swapped or exchanged as part of a portfolio in bilateral trade transactions, and used in hedging against future liabilities.

  16. The marketing concept of nuclear power plant constructors

    International Nuclear Information System (INIS)

    Czakainski, M.

    1980-01-01

    The paper examines the largely non-investigated area of marketing theory and energy sciences. The author considers the structure of the nuclear power industry and of marketing, analyses the nuclear power station market and its factors of influence, and gives a market forecast. The marketing concept requires especially a typologization of the investment good nuclear power plant. Project-dependent and project-independent marketing activities are coordinated in a marketing programme, and are integrated into mixed marketing efforts. Problems result from insecurity related to the further development of political, social and economic factors of influence. Constructors of nuclear power plants in the Federal Republic of Germany have to adapt to this insecurity and to face risks presented by entrepreneurial activities and the environment by means of flexible planning. (HSCH) [de

  17. Utility-Marketer Partnerships. An Effective Strategy for Marketing Green Power?

    Energy Technology Data Exchange (ETDEWEB)

    Bird, L. A. [National Renewable Energy Lab. (NREL), Golden, CO (United States); Brown, E. S. [National Renewable Energy Lab. (NREL), Golden, CO (United States)

    2006-04-01

    This paper explores whether partnerships between utilities and independent marketers are an effective strategy for marketing green power. We present case studies of voluntary and mandatory partnerships covering green power program design and implementation in both regulated and restructured electricity markets. We also include perspectives (based on interviews) from utilities, marketers, and regulators involved in developing and implementing these partnerships. From these case studies and interviews, we describe lessons learned about developing effective partnerships, including such issues as respective roles in marketing and administration, product branding, and contract and incentive structures. Based on experience to date, strategic partnerships between utilities and marketers can be an effective approach to marketing green power. Partnerships leverage the sales and resource procurement experience of marketers and the utility’s reputation and access to customers. Further, partnerships can create greater incentives for success because marketers have a vested financial interest in maximizing customer participation and green power sales.

  18. Utility-Marketing Partnerships: An Effective Strategy for Marketing Green Power?

    Energy Technology Data Exchange (ETDEWEB)

    Bird, L. A.; Brown, E. S.

    2006-04-01

    This paper explores whether partnerships between utilities and independent marketers are an effective strategy for marketing green power. We present case studies of voluntary and mandatory partnerships covering green power program design and implementation in both regulated and restructured electricity markets. We also include perspectives (based on interviews) from utilities, marketers, and regulators involved in developing and implementing these partnerships. From these case studies and interviews, we describe lessons learned about developing effective partnerships, including such issues as respective roles in marketing and administration, product branding, and contract and incentive structures. Based on experience to date, strategic partnerships between utilities and marketers can be an effective approach to marketing green power. Partnerships leverage the sales and resource procurement experience of marketers and the utility?s reputation and access to customers. Further, partnerships can create greater incentives for success because marketers have a vested financial interest in maximizing customer participation and green power sales.

  19. Legal market abuse regulations of WpHG (law on stock trading) and the REMIT-VO in the electricity spot trading; Marktmissbrauchsrechtliche Regelungen des WpHG und der REMIT-VO im Stromspothandel

    Energy Technology Data Exchange (ETDEWEB)

    Retsch, Alexander T.

    2014-07-01

    The thesis on legal market abuse regulations of WpHG (law on stock trading) and the REMIT-VO in the electricity spot trading include the discussion of the following issues: market abuse, its forms of appearance (market manipulation, insider trade, insider information), electricity spot trading, relevant legislative frame, market abuse regulations (WpHG), interdiction of market manipulation and related regulations.

  20. Challenges for gas and power markets

    International Nuclear Information System (INIS)

    Stice, M.

    2000-01-01

    Characteristic features of today's gas market, complicated by globalization and the emergence of e-commerce are discussed. Rising demand, due in part to the new gas-fired power generation, the sluggishness of supply response from new exploration and the influence of rising gas prices are also assessed. The challenges come principally from attempts to close the gap between demand and supply, and from price volatility and price management. Tips on ways to manage price by consumers as well as producers are proffered, and a look into the future is provided. While generally excited about possibilities, the author believes that there is cause for concern about short term supply and the limited infrastructure. In the long-term, there is reason to be concerned about problems in meeting skilled people requirements, as well as the threat represented by regulatory/political risks

  1. Canada in the world power market

    International Nuclear Information System (INIS)

    Anon.

    1979-01-01

    The role of Canadian exports in power projects and industrial development throghout the world is discussed in a series of regional articles. Sales of CANDU reactors in Argentina, South Korea and Romania are mentioned along with possible sales to Japan, China and Mexico. Other technologies, including telecommunications in the Middle East, copper smelters in Chile and pulp mills in Argentina are introduced as examples of Canadian exports. The impact of technology transfer throughout the Americas, Asia, Africa and Europe is stressed. Services available from Canadian government agencies such as the Export Development Corporation and the Canadian International Development Agency are described along wth international development agencies to illustrate the assistance available to the export market. The role of consultants in other projects is also described. (T.I.)

  2. Challenges for gas and power markets

    Energy Technology Data Exchange (ETDEWEB)

    Stice, M. [Conoco Gas and Power Marketing (United States)

    2000-07-01

    Characteristic features of today's gas market, complicated by globalization and the emergence of e-commerce are discussed. Rising demand, due in part to the new gas-fired power generation, the sluggishness of supply response from new exploration and the influence of rising gas prices are also assessed. The challenges come principally from attempts to close the gap between demand and supply, and from price volatility and price management. Tips on ways to manage price by consumers as well as producers are proffered, and a look into the future is provided. While generally excited about possibilities, the author believes that there is cause for concern about short term supply and the limited infrastructure. In the long-term, there is reason to be concerned about problems in meeting skilled people requirements, as well as the threat represented by regulatory/political risks.

  3. Science for power and the market

    International Nuclear Information System (INIS)

    Eckert, M.; Osietzki, M.

    1989-01-01

    Nuclear research and microelectronics rank foremost in importance in recent federal German technology history. So far unpublished documentary materials are made use of by the authors to demonstrate how both these technology sectors have increasingly been governed by economic, military, and political interests. The first approach to nuclear technology is represented by the purchase of the first research reactor, called 'atom egg', from the USA and the planning phase for the Kernforschungsanlage Juelich. The early history of particle accelerators and the beginning of fusion research offer insight into two areas corollary to nuclear research. The chapter on microelectronics is concerned with the beginnings of semi-conductor research at Siemens, the marketing of the first self-fabricated and fully transistorized computer in the Federal Repbulic of Germany, and solid-state physics, the science behind microelectronics. The emphasis is on the linking of scientific output to political and economic needs and aims. For instance, the accelerator development initially was a technology which the military hoped would yield a new weapon and industry hoped could be profitably exploited in the medical sector. In this situation of favour with the powers that be and the market, the scientists involved created a 'research front' that earned them high prestige. A similar case is the 'atom egg', which established nuclear researchers as the new elite in the field where science and politics are contiguous to each other. Microelectronics quickly followed suit in this respect. (orig./HP) [de

  4. 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 ...

  5. Application of Q-learning with temperature variation for bidding strategies in market based power systems

    International Nuclear Information System (INIS)

    Naghibi-Sistani, M.B.; Akbarzadeh-Tootoonchi, M.R.; Javidi-Dashte Bayaz, M.H.; Rajabi-Mashhadi, H.

    2006-01-01

    The electric power industry is confronted with restructuring in which the operation scheduling is going to be decided based on a competitive market. In this new arrangement, bidding strategy has become a major issue. Participants in this deregulated energy market place may be able to compete better by choosing a suitable bidding strategy for trading electricity. Different classical methods for decision making in the uncertain environment of the market can be applied to select a suitable strategy. Most of these methods, such as game theory, that insure reaching the best solution for all market participants, require a lot of information about the other market players and the market. However, in the real market place only a little information, such as the spot price, is available for all participants. In this paper, a modified reinforcement learning based on temperature variation has been first proposed and then applied to determine the optimal strategy for a power supplier in the electricity market. A Pool-Co model has been considered here, and the simulation results are shown to be the same as those of standard game theory. Adaptation of the method in the presence of parameter variation has been verified as well. The main advantage of the proposed method is that no information about other participants is required. Furthermore, our investigation shows that even if all participants use this method, they will stay in Nash equilibrium. (author)

  6. The electric power market in Europe. The stakes and forecasts of the market reconfiguration

    International Nuclear Information System (INIS)

    2002-01-01

    This study takes stock on the eight main european electric power markets. It provides data on the electric power sector, knowledge on the european market competition, it analyzes the european companies mastership and management, the market reconfiguration, it evaluates and compares the financial performance of the sector leaders. (A.L.B.)

  7. A review on risk-constrained hydropower scheduling in deregulated power market

    International Nuclear Information System (INIS)

    Hongling, Liu; Chuanwen, Jiang; Yan, Zhang

    2008-01-01

    In deregulated power market, hydro producer has in principle no other objective than to produce electricity and sell with maximum profit with lower market risk. Attention must focus on profit uncertainty caused by uncertainty in spot prices and reservoir inflow. The purpose of this review is to assess the state-of-the-art in hydropower operations considering profit risk under uncertainty and consider future directions for additional research and application. Physical and financial tools to hedge risk in bilateral market and risk-assessment methods are all discussed in detail. Furthermore, production resources can also be used to manage risk to a certain extent. This concept, when be integrated with variety of risk-management methods under stochastic optimal framework, has operational significance for hydro producer participating in electricity market. (author)

  8. PROMOTION OF PRODUCTS AND ANALYSIS OF MARKET OF POWER TOOLS

    Directory of Open Access Journals (Sweden)

    Sergey S. Rakhmanov

    2014-01-01

    Full Text Available The article describes the general situation of power tools on the market, both in Russia and in the world. A comparative analysis of competitors, market structure analysis of power tools, as well as assessment of competitiveness of some major product lines. Also the analysis methods of promotion used by companies selling tools, competitive analysis range Bosch, the leader in its segment, power tools available on the market in Russia.

  9. Power System Transient Stability Improvement Using Demand Side Management in Competitive Electricity Markets

    DEFF Research Database (Denmark)

    Hu, Weihao; Wang, Chunqi; Chen, Zhe

    2012-01-01

    Since the hourly spot market price is available one day ahead in Denmark, the price could be transferred to the consumers and they may shift some of their loads from high price periods to the low price periods in order to save their energy costs. The optimal load response to an electricity price...... for demand side management generates different load profiles and may provide an opportunity to improve the transient stability of power systems with high wind power penetrations. In this paper, the idea of the power system transient stability improvement by using optimal load response to the electricity...... price is proposed. A 102-bus power system which represents a simplified model of the western Danish power system is chosen as the study case. Simulation results show that the optimal load response to electricity prices is an effective measure to improve the power system transient stability with high...

  10. Bilateral contracts and the spot market for electricity: some observations on the British and the NordPool experiences

    International Nuclear Information System (INIS)

    Herguera, Inigo

    2000-01-01

    The performance of the futures and the spot market for electricity in England and Wales (EW) and in the Nordic countries have significant differences in terms of volumes traded and evolution of prices. Even though the institutional arrangements show significant differences and the data collected has important limitations we observe in EW for 1990-199 that as the coverage via bilateral contracts diminished, spot prices tended to increase, there was higher price volatility and an increasing number of plants were declared unavailable. In the NordPool, by contrast, market structure is more distributed, the bilateral contract price has tended to smooth the volatility in the spot price and a very diverse pattern behavior of prices has been observed. We interpret these observations as additional support in favor of the theoretical result by and Vila (Journal of Economic Theory 59 (1993) 1), but hint at the possibility of strategies by the firms that can diminish the welfare enhancing properties of this new bilateral market. (Author)

  11. Selling green power in California: Product, industry, and market trends

    Energy Technology Data Exchange (ETDEWEB)

    Wiser, R.H.; Pickle, S.J.

    1998-05-01

    As one of the first US stages to open its doors to retail electric competition, California offers an important opportunity to assess the effectiveness of green power marketing as a mechanism for supporting renewable energy. This report is an interim assessment of key green power product, industry, and market trends in California. The report identifies and analyzes: the potential size of the green power market in California; the companies participating in the green power market; the green power products being offered and their prices; the impact of the green market on renewable generators and the environment; and the influence of several public policies and non-governmental programs on the market for green power. Data used in this paper have been collected, in large part, from surveys and interviews with green power marketers that took place between December 1997 and April 1998. There remain legitimate concerns over the viability of green power marketing to support significant quantities of renewable energy and provide large environmental gains, and it is far too early to assess the overall strength of customer demand for renewable energy. A critical finding of this report is that, because of the high cost of acquiring and servicing residential customers and the low utility default service price, green power marketing affords new energy service providers one of the only viable entrees to California`s residential marketplace.

  12. Selling green power in California: Product, industry, and market trends

    International Nuclear Information System (INIS)

    Wiser, R.H.; Pickle, S.J.

    1998-05-01

    As one of the first US stages to open its doors to retail electric competition, California offers an important opportunity to assess the effectiveness of green power marketing as a mechanism for supporting renewable energy. This report is an interim assessment of key green power product, industry, and market trends in California. The report identifies and analyzes: the potential size of the green power market in California; the companies participating in the green power market; the green power products being offered and their prices; the impact of the green market on renewable generators and the environment; and the influence of several public policies and non-governmental programs on the market for green power. Data used in this paper have been collected, in large part, from surveys and interviews with green power marketers that took place between December 1997 and April 1998. There remain legitimate concerns over the viability of green power marketing to support significant quantities of renewable energy and provide large environmental gains, and it is far too early to assess the overall strength of customer demand for renewable energy. A critical finding of this report is that, because of the high cost of acquiring and servicing residential customers and the low utility default service price, green power marketing affords new energy service providers one of the only viable entrees to California's residential marketplace

  13. Institutional contexts of market power in the electricity industry

    International Nuclear Information System (INIS)

    Foer, A.A.

    1999-01-01

    Market power is widely recognized as one of the principal issues that must be dealt with if the electricity industry is to make the transition from regulation to competition. In this article, the author provides a legal and economic introduction to what the antitrust community means by market power and offers a primer on why market power is so central an issue in the electricity industry. Finally and most importantly, he offers comments on the institutional contexts of market power, exploring a process which he calls Shermanization that helps explain the institutional aspect of moving from regulation to competition and holds implications for where oversight should reside during this complex transition

  14. Credit risk in liberalised power and natural gas markets

    International Nuclear Information System (INIS)

    Lapson, E.; Hunter, Richard

    1999-01-01

    This chapter examines the relationship of market structure and price volatility to credit risk, and discusses credit risk and energy market structures, credit risk in bilateral contracts, market evolution, and the effect of liberalising power markets on credit quality considering the power liberalising in Europe, the pace of change, and the new risks and opportunities. The market structure in Europe is addressed, and the EU Directive 96/92/EC, structural requirements, access for new generation capacity, and transmission costs are considered. Details of the liberalisation in the UK electricity market, the German market, and the Nord Pool are given, and the best credit practices in bilateral markets, and the quantifying of expected credit loss are described. Panels highlighting the need to know your counterparty in evaluating and negotiating bilateral contracts, and lessons learnt from the June 1998 US power price spike are presented

  15. Natural gas transits and market power. The case of Turkey

    Energy Technology Data Exchange (ETDEWEB)

    Weiser, Florian; Schulte, Simon

    2017-08-15

    Turkey is a key country in order to realize the Southern Gas Corridor (SGC) due to its geographical location. However, as the main transit country within the SGC, Turkey could potentially exert market power with gas transits. Whether Turkey exerts market power or not, is crucial for an economic assessment of the SGC. Hence, the article investigates this issue quantitatively using a global partial equilibrium gas market model. An oligopolistic and a competitive supply structure in Europe in 2030 are considered in the model. If the European gas market in 2030 is characterized by an oligopolistic supply, Turkey is able to exert market power resulting in higher prices compared to competitive transits, in particular in South Eastern Europe. In a competitive market structure, however, the importance of the SGC and thus the potential of Turkish transit market power is limited.

  16. Natural gas transits and market power. The case of Turkey

    International Nuclear Information System (INIS)

    Weiser, Florian; Schulte, Simon

    2017-01-01

    Turkey is a key country in order to realize the Southern Gas Corridor (SGC) due to its geographical location. However, as the main transit country within the SGC, Turkey could potentially exert market power with gas transits. Whether Turkey exerts market power or not, is crucial for an economic assessment of the SGC. Hence, the article investigates this issue quantitatively using a global partial equilibrium gas market model. An oligopolistic and a competitive supply structure in Europe in 2030 are considered in the model. If the European gas market in 2030 is characterized by an oligopolistic supply, Turkey is able to exert market power resulting in higher prices compared to competitive transits, in particular in South Eastern Europe. In a competitive market structure, however, the importance of the SGC and thus the potential of Turkish transit market power is limited.

  17. Mechanisms of joint and microstructure formation in high power ultrasonic spot welding 6111 aluminium automotive sheet

    International Nuclear Information System (INIS)

    Bakavos, D.; Prangnell, P.B.

    2010-01-01

    Resistance spot welding (RSW) is difficult to apply to aluminium automotive alloys. High power ultrasonic spot welding (HP-USW) is a new alternative method which is extremely efficient, using ∼2% of the energy of RSW. However, to date there have been few studies of the mechanisms of bond formation and the material interactions that take place with this process. Here, we report on a detailed investigation where we have used X-ray tomography, high resolution SEM, and EBSD, and dissimilar alloy welds, to track the interface position and characterise the stages of weld formation, and microstructure evolution, as a function of welding energy. Under optimum conditions high quality welds are produced, showing few defects. Welding proceeds by the development and spread of microwelds, until extensive plastic deformation occurs within the weld zone, where the temperature reaches ∼380 deg. C. The origin of the weld interface 'flow features' characteristic of HP-USW are discussed.

  18. Sharing wind power forecasts in electricity markets: A numerical analysis

    International Nuclear Information System (INIS)

    Exizidis, Lazaros; Kazempour, S. Jalal; Pinson, Pierre; Greve, Zacharie de; Vallée, François

    2016-01-01

    Highlights: • Information sharing among different agents can be beneficial for electricity markets. • System cost decreases by sharing wind power forecasts between different agents. • Market power of wind producer may increase by sharing forecasts with market operator. • Extensive out-of-sample analysis is employed to draw reliable conclusions. - Abstract: In an electricity pool with significant share of wind power, all generators including conventional and wind power units are generally scheduled in a day-ahead market based on wind power forecasts. Then, a real-time market is cleared given the updated wind power forecast and fixed day-ahead decisions to adjust power imbalances. This sequential market-clearing process may cope with serious operational challenges such as severe power shortage in real-time due to erroneous wind power forecasts in day-ahead market. To overcome such situations, several solutions can be considered such as adding flexible resources to the system. In this paper, we address another potential solution based on information sharing in which market players share their own wind power forecasts with others in day-ahead market. This solution may improve the functioning of sequential market-clearing process through making more informed day-ahead schedules, which reduces the need for balancing resources in real-time operation. This paper numerically evaluates the potential value of sharing forecasts for the whole system in terms of system cost reduction. Besides, its impact on each market player’s profit is analyzed. The framework of this study is based on a stochastic two-stage market setup and complementarity modeling, which allows us to gain further insights into information sharing impacts.

  19. Convergence of European spot market prices for natural gas. A Real-Time Analysis of market integration using the Kalman filter

    International Nuclear Information System (INIS)

    Siliverstovs, Boriss; Neumann, Anne

    2005-01-01

    This paper provides a textbook example of an econometric analysis of the integration between two commodity markets and the subsequent price convergence or absence thereof. We analyze price relations between spot markets for natural gas in Europe. The European market for natural gas is currently undergoing a liberalization process with the aim of creating a single, unified market. We use time-varying coefficient estimation models, applying the Kalman filter to test whether price convergence between different locations is really taking place. Our results reveal that the construction of a pipeline between the UK and Zeebrugge (Belgium) has lead to almost perfect price convergence between theses locations; on the other hand, liberalization on the European continent does not seem to be working so far. (Author)

  20. State of the Voluntary Green Power Market (2016 Data)

    Energy Technology Data Exchange (ETDEWEB)

    OShaughnessy, Eric J [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Heeter, Jenny S [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Cook, Jeffrey J [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Volpi, Christina M [National Renewable Energy Laboratory (NREL), Golden, CO (United States)

    2018-03-26

    Annual report of sales and number of customers in voluntary green power markets, including utility green pricing programs, utility green partnerships, competitive suppliers, unbundled renewable energy certificates, community choice aggregations, power purchase agreements, and community solar.

  1. Market power mitigation, monitoring and surveillance in the Ontario electricity market

    International Nuclear Information System (INIS)

    Barrett, A.

    2001-01-01

    This power point presentation discussed the meaning of market power and how Ontario Power Generation's market power is one of the most contentious market implementation issues in the deregulation debate. Market power was described as being the ability to profitably maintain prices above competitive levels for a significant period of time. The presentation referred to the key elements of the market power mitigation framework (MPMF) of Ontario and how it strikes a balance between the three major objectives of creating a competitive marketplace, to pay down the stranded debt, and to ensure viable power generation in the province. It was concluded that there will be a viable competitive market in Ontario in the near future, but a pragmatic, fact-based view of the market is needed to allow market forces to work. It was emphasized that markets by nature are unpredictable and volatility does not necessarily means that the market is not working. The author stated that Ontario Power Generation recognized that it is important to coordinate roles and responsibilities to minimize duplication and reduce confusion. tags., figs

  2. The Liberating Power of Commercial Marketing

    DEFF Research Database (Denmark)

    Anker, Thomas Boysen; Kappel, Klemens; Sandøe, Peter

    2010-01-01

    The aim of this paper is to explore the impact of commercial marketing on personal autonomy. Several philosophers argue that marketing conflicts with ideals of autonomy or, at best, is neutral to these ideals. After qualifying our concept of marketing and introducing the distinctions between (i...

  3. Market power in the market for greenhouse gas emission permits - the interplay with the fossil fuel markets

    International Nuclear Information System (INIS)

    Hagem, Cathrine; Maestad, Ottar

    2002-01-01

    Implementation of the Kyoto Protocol is likely to leave Russia and other Eastern European countries with market power in the market for emission permits. Ceteris paribus, this will raise the permit price above the competitive permit price. However, Russia is also a large exporter of fossil fuels. A high price on emission permits may lower the producer price on fossil fuels. Thus, if Russia co-ordinates its permit market and fossil fuel market policies, market power will not necessarily lead to a higher permit price. Fossil fuel producers may also exert market power in the permit market, provided they conceive the permit price to be influenced by their production volumes. If higher volumes drive up the permit price Russian fuel producers may become more aggressive relative to their competitors in the fuel markets. If the sale of fuels is co-ordinated with the sale of permits. The result is reversed if high fuel production drives the permit price down. (Author)

  4. Market power in the market for greenhouse gas emission permits - the interplay with the fossil fuel markets

    Energy Technology Data Exchange (ETDEWEB)

    Hagem, Cathrine; Maestad, Ottar

    2002-07-01

    Implementation of the Kyoto Protocol is likely to leave Russia and other Eastern European countries with market power in the market for emission permits. Ceteris paribus, this will raise the permit price above the competitive permit price. However, Russia is also a large exporter of fossil fuels. A high price on emission permits may lower the producer price on fossil fuels. Thus, if Russia co-ordinates its permit market and fossil fuel market policies, market power will not necessarily lead to a higher permit price. Fossil fuel producers may also exert market power in the permit market, provided they conceive the permit price to be influenced by their production volumes. If higher volumes drive up the permit price Russian fuel producers may become more aggressive relative to their competitors in the fuel markets. If the sale of fuels is co-ordinated with the sale of permits. The result is reversed if high fuel production drives the permit price down. (Author)

  5. A review of international green power markets: recent experience, trends, and market drivers

    International Nuclear Information System (INIS)

    Bird, L.; Aabakken, J.; Wuestenhagen, R.

    2002-01-01

    Green power marketing-the act of differentially selling electricity generated wholly or in part from renewable sources - has emerged in more than a dozen countries around the world. Almost two million customers worldwide buy green power today. This paper reviews green power marketing activity in Australia, Canada, Japan, the US, and in a number of countries in Europe to gain an understanding of consumer demand for electricity generated from renewable sources. It also examines key factors that influence market penetration of green power products, such as product designs, pricing, incentives, marketing strategies, policies, and product certification.(author)

  6. MVA power flow and loss analysis for electricity market

    International Nuclear Information System (INIS)

    Wu, Z.Q.; Chen, G.Z.

    2001-01-01

    MVA power-flow and loss analysis is the basis for allocating the fixed costs and power losses under electricity-market deregulation. It is pointed out that the decomposition allocation of active and reactive power losses is not reasonable. The theory of active and reactive loss allocation and branch-power-flow decomposition has been proposed. Various contributory factors have been deduced. These contributory factors include the contribution factors of the active and reactive generation power, load-power-to-branch flows, the contribution factors of active and reactive generation power to active and reactive load power, the contribution factors of active and reactive load power to generation power, and the contribution factors of active and reactive load power and active and reactive generation power to line power losses. The detailed calculation results are presented and analysed, demonstrating that the theory presented provides a good charging algorithm for all the market participants. (Author)

  7. Parabolic Trough Solar Power for Competitive U.S. Markets

    International Nuclear Information System (INIS)

    Price, Henry W.

    1998-01-01

    Nine parabolic trough power plants located in the California Mojave Desert represent the only commercial development of large-scale solar power plants to date. Although all nine plants continue to operate today, no new solar power plants have been completed since 1990. Over the last several years, the parabolic trough industry has focused much of its efforts on international market opportunities. Although the power market in developing countries appears to offer a number of opportunities for parabolic trough technologies due to high growth and the availability of special financial incentives for renewables, these markets are also plagued with many difficulties for developers. In recent years, there has been some renewed interest in the U.S. domestic power market as a result of an emerging green market and green pricing incentives. Unfortunately, many of these market opportunities and incentives focus on smaller, more modular technologies (such as photovoltaics or wind power), and as a result they tend to exclude or are of minimum long-term benefit to large-scale concentrating solar power technologies. This paper looks at what is necessary for large-scale parabolic trough solar power plants to compete with state-of-the-art fossil power technology in a competitive U.S. power market

  8. Deregulation of the Nordic power market and environmental policy

    International Nuclear Information System (INIS)

    Amundsen, E.S.; Nesse, A.; Tjoetta, S.

    1999-01-01

    A common Nordic power market will reduce total CO2 emissions in the Nordic countries as compared to a situation of autarky and, thus, reduce the aggregate cost of complying to strict national CO2 emission targets. A common market for CO2 emission permits may reduce the aggregate cost further, but this cost reduction will be smaller the harsher the CO2 emission constraints are. The economic gain of introducing a common Nordic power market will be particularly large in the case of a Swedish nuclear power phase out. In this case, the cost reduction of introducing a common market for CO2 emission permits will not be very large. 10 refs

  9. Powernext and the liberalization of the French power market

    International Nuclear Information System (INIS)

    Conil-Lacoste, J.F.

    2003-01-01

    The 1996 European Directive concerning the opening of the power market to competition was transposed in France in February 2000, allowing the creation of a real power market. On November 26, 2001, Powernext launched standard hourly contracts with delivery of power on the French hub the day after trading. The market model chosen guarantees the liquidity, the transparency and the settlement of the transactions thanks to a very close cooperation with Clearnet and RTE. Since November 26, 2001, the volume traded on Powernext has increased on a regular basis reaching the 20 GWh daily plateau in February 2003. The liberalization of the electricity market involved the creation of new exchanges in Europe, by facilitating the power flow from one market to the other, and by causing a reduction of price spreads. Powernext's objective is to accompany the liberalization of the French and European electricity market by offering to its members products adapted to this new environment. (author)

  10. Ontario's power market post November 11

    International Nuclear Information System (INIS)

    Murphy, P.

    2003-01-01

    This paper provides a review of Ontario's first year with an open electricity market. The year 2002 to 2003 had record energy demands with challenges on the supply side. In particular, generation availability was below expectations during the summer months. This demonstrated that price predictability and volatility needs to be addressed and investment in new power generation is needed in Ontario. Ontario demand forecasts outpace supply for the long term outlook. In addition, most of Ontario's generating plants are aging and will soon exceed their nominal service life, requiring major refurbishment or replacement. Decisions are needed now on the future of coal in Ontario's generation mix. It was also noted that transmission reinforcements are needed in the Greater Toronto Area (GTA). In the short term, consumers can expect delays in return to service of nuclear units, forced extensions to planned outages, and reduced outlook for energy from hydroelectric resources. It was noted that Ontario will continue to rely on imports, although emergency generation is being installed. 5 figs

  11. Green power marketing in retail competition: an early assessment

    International Nuclear Information System (INIS)

    Wiser, R.; Porter, K.; Fang, J.

    1999-01-01

    With retail competition being introduced throughout the United States, green power marketing offers the promise of customer-driven markets for renewable energy. This paper summarizes early experience with green marketing under full retail competition. We conclude that (1) niche markets exist today among residential and non-residential consumers for green power; (2) green demand may ultimately offer an important strategic market for renewable technologies, but the market is currently rather small and the long-term prospects remain uncertain; (3) the success of green markets will depend critically on the regulatory rules established at the onset of restructuring; and (4) the biomass industry will be forced to better communicate the environmental benefits of its technology in order to play a strong role within the green market. This paper is based on a more detailed NREL Topical Issues Brief, which is available on the Internet. (author)

  12. Application scenario analysis of Power Grid Marketing Large Data

    Science.gov (United States)

    Li, Xin; Zhang, Yuan; Zhang, Qianyu

    2018-01-01

    In recent years, large data has become an important strategic asset in the commercial economy, and its efficient management and application has become the focus of government, enterprise and academia. Power grid marketing data covers real data of electricity and other energy consumption and consumption costs and so on, which is closely related to each customer and the overall economic operation. Fully tap the inherent value of marketing data is of great significance for power grid company to make rapid and efficient response to the market demand and improve service level. The development of large data technology provides a new technical scheme for the development of marketing business under the new situation. Based on the study on current situation of marketing business, marketing information system and marketing data, this paper puts forward the application direction of marketing data and designed typical scenes for internal and external applications.

  13. The Brazilian electric power market: historic and forecasting

    International Nuclear Information System (INIS)

    Carvalho Afonso, C.A. de; Azevedo, J.B.L. de

    1992-01-01

    A historical analysis of electric power market evolution in Brazil and in their regions during 1950 to 1990, is described, showing the forecasting for the next ten years. Some considerations about population, energy conservation and industrial consumers are also presented, including statistical data of the electrical power market. (C.G.C.)

  14. Bank market power, factor reallocation, and aggregate growth

    NARCIS (Netherlands)

    Inklaar, Robert; Koetter, Michael; Noth, Felix

    Using a unique firm-level sample of approximately 700,000 firm-year observations of German small and medium-sized enterprises (SMEs), this study seeks to identify the effect of bank market power on aggregate growth components. We test for a pre-crisis sample whether bank market power spurs or

  15. Anti-correlation and multifractal features of Spain electricity spot market

    NARCIS (Netherlands)

    Norouzzadeh, Payam; Dullaert, W.; Rahmani, Bahareh

    2007-01-01

    We use multifractal detrended fluctuation analysis (MF-DFA) to numerically investigate correlation, persistence, multifractal properties and scaling behavior of the hourly spot prices for the Spain electricity exchange-Compania O Peradora del Mercado de Electricidad (OMEL). Through multifractal

  16. Market power and price structure in the electricity market; Markedsmakt og prisstruktur i kraftmarkedet

    Energy Technology Data Exchange (ETDEWEB)

    Halseth, Arve

    1998-12-01

    This report evaluates the importance of market power on price formation and price structure in the Norwegian electricity market. A simple oligopoly model is used to show how the equilibrium is affected by demand, distribution of capacity between two major suppliers, and marginal production costs, given that the suppliers do not cooperate. Two important conclusions can be drawn from the calculations: (1) a high concentration on the supply side does not necessarily lead to essential market power, and (2) market power may contribute to increased stability and predictability. The main conclusion is that market power can be positive for society and it is not uniquely associated with a high concentration on the supply side. If emphasis is placed on stability and predictability, market power should not be defined as deviation from prices under free competition but rather should be related to the requirement that the suppliers should not obtain unreasonably high profit with unreasonably little utilization of capacity. 10 refs., 11 figs.

  17. Windonomics. Empirical essays on the economics of wind power in the Nordic electricity market

    Energy Technology Data Exchange (ETDEWEB)

    Mauritzen, Johannes

    2012-07-01

    From the introduction: The following chapters in this dissertation take up three topics surrounding the interaction of wind power investment in Denmark and the functioning of the deregulated Nordic electricity market. The first two chapters take up the issue of how wind power a affects prices in the deregulated market. I find that electricity price variation in the spot market is lower in days with more wind power. In the following chapter I extend this analysis to see how wind power in Denmark affects prices in neighbouring hydro power dominated Norway. I find that wind power affects the magnitude of trade between the countries asymmetrically - dependent on the net direction of trade. I also find that wind power has a slight but statistically significant negative effect on prices in Norway, likely due to a slackening of hydro power producers supply constraints. The last chapter starts with the observation that most turbines are scrapped in order to make room for a newer turbine. An opportunity cost that comes from the interaction of scarce land resources, technological change and government policy is then a dominant reason for the scrapping of wind turbines. This leads to the implication that turbines located on windier, better situated land have a higher risk of being scrapped. Policy is also shown to have a strong and in some respects unexpected effect on scrappings. Over the last two decades two major trends have taken place in power markets around the world. The first has been a movement towards market based power systems. Vertically integrated power companies have been split into component generation, transmission and retailing companies. Generation and retailing have been opened to competition. Increasingly, regulated prices and bilateral trade are being replaced by regulated markets that establish prices through auction mechanisms. The second trend has been investment in renewable and intermittent energy sources - notably wind power. What started as

  18. The European electricity market. What are the effects of market power on prices and the environment? Keywords: Electricity market; liberalisation; market power; game theory; environmental impacts; Northwestern Europe

    International Nuclear Information System (INIS)

    Lise, W.

    2005-07-01

    This paper presents a static computational game theoretic COMPETES model. This model is used to study the economic and environmental effects of the liberalisation of the European electricity market. The COMPETES model takes strategic interaction into account. The model is calibrated to four European countries: Belgium, France, Germany and the Netherlands. To analyse the impact of emission trading, a fixed permit price per tonne CO2 emissions is introduced. The effects are studied under different market structures depending on the ability of firms to exercise market power. The results indicate that the effects of liberalisation depend on the resulting market structure, while a reduction in market power of large producers may be beneficial for the consumer (i.e. lower prices), this is not necessarily true for the environment (i.e. lower reduction in CO2 emissions)

  19. Approaches and methods for econometric analysis of market power

    DEFF Research Database (Denmark)

    Perekhozhuk, Oleksandr; Glauben, Thomas; Grings, Michael

    2017-01-01

    , functional forms, estimation methods and derived estimates of the degree of market power. Thereafter, we use our framework to evaluate several structural models based on PTA and GIM to measure oligopsony power in the Ukrainian dairy industry. The PTA-based results suggest that the estimated parameters......This study discusses two widely used approaches in the New Empirical Industrial Organization (NEIO) literature and examines the strengths and weaknesses of the Production-Theoretic Approach (PTA) and the General Identification Method (GIM) for the econometric analysis of market power...... in agricultural and food markets. We provide a framework that may help researchers to evaluate and improve structural models of market power. Starting with the specification of the approaches in question, we compare published empirical studies of market power with respect to the choice of the applied approach...

  20. Modeling market power in electricity markets: Is the devil only in the details?

    Energy Technology Data Exchange (ETDEWEB)

    Bautista, Guillermo; Anjos, Miguel F.; Vannelli, Anthony

    2007-01-15

    Basic approximations of the transmission system are ubiquitous in the literature on modeling competition in electricity markets. Because the main concern of market power is with active power, reactive power and voltage-related issues are commonly neglected, even though they are inherent features of an electrical power system. However, the usefulness of stylized formulations that do not comprise these system elements may be severely limited. (author)

  1. Optional forward contracts for electric power markets

    International Nuclear Information System (INIS)

    Gedra, T.W.

    1994-01-01

    This paper extends the idea of callable forward contracts, which are potentially useful as demand-side (interruptible-load) contracts, to their supply-side analogues. Together, these contracts allow market participants to take advantage of flexibility in generation or consumption to obtain a monetary benefit, while simultaneously removing the risk of market price fluctuations. This paper also considers the effects of strategic behavior on the part of market participants in their contract sales/purchase decisions

  2. The role of public policy in emerging green power markets: an analysis of marketer preferences

    Energy Technology Data Exchange (ETDEWEB)

    Wiser, R.H. [Lawrence Berkeley National Laboratory, Berkeley, CA (United States)

    2000-06-01

    Green power marketing has been heralded by some as a means to create a private market for renewable energy that is driven by customer demand for green products. This article challenges the premise - sometimes proffered in debates over green markets - that profitable, sizable, credible markets for green products will evolve naturally without supportive public policies. Relying primarily on surveys and interviews of US green power marketers, the article examines the role of specific regulatory and legislative policies in 'enabling' the green market, and searches for those policies that are believed by marketers to be the most conducive or detrimental to the expansion of the green market. We find that marketers: (1) believe that profitable green power markets will only develop if a solid foundation of supportive policies exists; (2) believe that establishing overall price competition and encouraging customer switching are the top priorities; (3) are somewhat leery of government-sponsored or mandated public information programs; and (4) oppose three specific renewable energy policies that are frequently advocated by renewable energy enthusiasts, but that may have negative impacts on the green marketers' profitability. The stated preferences of green marketers shed light on ways to foster renewables by means of the green market. Because the interests of marketers do not coincide perfectly with those of society, however, this study also recognizes other normative perspectives and highlights policy tensions at the heart of current debates related to green markets. By examining these conflicts, we identify three key policy questions that should direct future research: To what extent should price competition and customer switching be encouraged at the expense of cost shifting? What requirements should be imposed to ensure credibility in green products and marketing? How should the green power market and broader renewable energy policies interact? (author)

  3. Market Power in Bilateral Oligopoly Markets with Nonexpendable Infrastructure

    NARCIS (Netherlands)

    Funaki, Y.; Houba, H.E.D.; Motchenkova, E.

    2012-01-01

    Abstract: We consider price-fee competition in bilateral oligopolies with perfectly-divisible goods, non-expandable infrastructures, concentrated agents on both sides, and constant marginal costs. We define and characterize stable market outcomes. Buyers exclusively trade with the supplier with whom

  4. Analysis Influence of Proactivity Power Business, Market Orientation, and Competitive Advantage toward Marketing Performance

    Directory of Open Access Journals (Sweden)

    Lili Karmela Fitriani

    2016-02-01

    Full Text Available This research is an empirical study on Batik SMEs (Small Medium Enterprises in Cirebon District, West Java. This study analyzes the effect of proactivity power business, market orientation, and competitive advantage towards marketing performance. The subjects of this research were 215 Batik SMEs in Cirebon District West Java. The analysis was done using Structural Equation Modeling (SEM, AMOS ver. 18. The result shows that proactivity power business, market orientation, and competitive advantage give positive influence on marketing performance of  Batik SMEs. The research implication is when SME businesses focus on the effort in improving their proactivity power business and competitive advantage, it will give positive impact on marketing performance. Other research finding reveals that  the orientation of customer and orientation of competitor have some effects on marketing performance. In addition, SME businesses should know what customers want and they should be able to identify their competitors in order to improve their marketing performance.

  5. Threshold values in acquisitions in the power market

    International Nuclear Information System (INIS)

    2002-01-01

    This report discusses weather the authorities should define threshold values for the market concentration in the power market for reasons of future competition. It is shown that special circumstances in the power market dictate that the competition authorities may have good reasons to adopt a precautionary attitude to acquisitions in that market. The assessment must consider the fact that it is the competition in individual hours that is relevant for the market. Thus the competition authorities should use threshold values based on the producers' share of the power capacity in all relevant market areas that are affected by the acquisition. The threshold values may still be used only as a first filtering out procedure. A final decision about intervention must be founded on a closer assessment of all the socioeconomic consequences of the acquisition in each case

  6. Electric power markets in Europe 1993; Elmarknaderna i Europa 1993

    Energy Technology Data Exchange (ETDEWEB)

    Hermanson, K; Lublin, Z; Olofsdotter, A; Petsala, B; Wuolikainen, T

    1993-12-01

    The development of power markets in Europe is described. Special attention is devoted to the development in France, Germany, Denmark, Finland and Norway. The planned deregulation of the Swedish electric power market will promote an increased trade with electricity across the border. The possibilities and consequences of this trade is elucidated. Also given is a compilation of electric power prices for different groups of consumers, and the differences among European countries. 7 figs, 26 tabs

  7. Marketing Power Tools for Building Better Connections.

    Science.gov (United States)

    Goldman, Karen Denard

    This paper proposes use of marketing methods to improve college health services and enhance their perceived value. Ten key marketing principles are defined: (1) value of the service as seen by the target population; (2) exchange clients perceive benefits received as exceeding perceived costs; (3) competition offering a better product than the…

  8. A Note on Market Power in an Emission Permits Market with Banking

    International Nuclear Information System (INIS)

    Liski, M.; Montero, J.P.

    2005-01-01

    In this paper, we investigate the effect of market power on equilibrium path of an emission permits market in which firms can bank current permits for use in later periods. In particular, we study the market equilibrium for a large (potentially dominant) firm and competitive fringe with rational expectations. We characterize the equilibrium solution for different permits allocations and discuss the large firms stock-holding constraints needed for credible market manipulation

  9. The New Electricity Market of Singapore : regulatory framework, market power and competition

    International Nuclear Information System (INIS)

    Chang, Y.

    2007-01-01

    This study examines whether the New Electricity Market of Singapore (NEMS) is functioning at a workable level of competition. The generation market of the NEMS appears highly concentrated by a four-firm concentration ratio or the Herfindahl-Hirschman Index. However, other measures of market power present that the NEMS is working at close to a competitive market. First, there seems to be a number of effective competitors in the market. Second, Supply Margin Assessment and Residual Supply Index support that the market is competitive though there are some possibilities in which the largest generator or a few large generators jointly could still have market power. Third, the Lerner Index of the NEMS shows that the generation market is fairly competitive and the Lerner Index adjusted with an industry level price elasticity of demand implies that there has not been much exercise of market power. Finally, vesting contracts - a contractual obligation of a specified quantity of electricity supply to the market - have appeared to be a strong and effective tool to mitigate market power in the NEMS. The vesting contracts are considered the force behind the lowering in the average Uniform Singapore Electricity Price and the Lerner Index in 2004. [Author

  10. The New Electricity Market of Singapore: Regulatory framework, market power and competition

    International Nuclear Information System (INIS)

    Chang Youngho

    2007-01-01

    This study examines whether the New Electricity Market of Singapore (NEMS) is functioning at a workable level of competition. The generation market of the NEMS appears highly concentrated by a four-firm concentration ratio or the Herfindahl-Hirschman Index. However, other measures of market power present that the NEMS is working at close to a competitive market. First, there seems to be a number of effective competitors in the market. Second, Supply Margin Assessment and Residual Supply Index support that the market is competitive though there are some possibilities in which the largest generator or a few large generators jointly could still have market power. Third, the Lerner Index of the NEMS shows that the generation market is fairly competitive and the Lerner Index adjusted with an industry level price elasticity of demand implies that there has not been much exercise of market power. Finally, vesting contracts-a contractual obligation of a specified quantity of electricity supply to the market-have appeared to be a strong and effective tool to mitigate market power in the NEMS. The vesting contracts are considered the force behind the lowering in the average Uniform Singapore Electricity Price and the Lerner Index in 2004

  11. Ideal Operation of a Photovoltaic Power Plant Equipped with an Energy Storage System on Electricity Market

    Directory of Open Access Journals (Sweden)

    Markku Järvelä

    2017-07-01

    Full Text Available There is no natural inertia in a photovoltaic (PV generator and changes in irradiation can be seen immediately at the output power. Moving cloud shadows are the dominant reason for fast PV power fluctuations taking place typically within a minute between 20 to 100% of the clear sky value roughly 100 times a day, on average. Therefore, operating a utility scale grid connected PV power plant is challenging. Currently, in many regions, renewable energy sources such as solar and wind receive feed-in tariffs that ensure a certain price for the energy. On the other hand, electricity markets operate on a supply-demand principle and a typical imbalance settlement period is one hour. This paper presents the energy, power and corresponding requirements for an energy storage system in a solar PV power plant to feed the power to the grid meeting the electricity spot markets practices. An ideal PV energy production forecast is assumed to be available to define reference powers of the system for the studied imbalance settlement periods. The analysis is done for three different PV system sizes using the existing irradiance measurements of the Tampere University of Technology solar PV power station research plant.

  12. The effect of laser power, traverse velocity and spot size on the peel resistance of a polypropylene/adhesive bond

    OpenAIRE

    Dowding, Colin; Dowding, Robert; Franceschini, Federica; Griffiths, Jonathan David

    2015-01-01

    Abstract The mean peel resistance force achieved with respect to variation in the laser power, incident spot traverse velocity and incident spot diameter between linear low density polyethylene film backed by a thin commercial adhesive coating that were bonded to a polypropylene substrate via thermal activation provided by a 27W CO 2 laser is discussed in this work. The results gathered for this work have been used to generate a novel empirical tool that predicts the CO...

  13. Assessing the market power due to the network constraints in competitive electricity markets

    International Nuclear Information System (INIS)

    Bompard, E.; Ma, Y.C.; Napoli, R.; Jiang, C.W.

    2006-01-01

    The physical and operational constraints of the network pose very specific problems to market power analysis in the oligopolistic electricity markets. This paper presents a direct analytical approach to find the market equilibrium based on a supply function game model. The model is exploited to undertake a sensitivity analysis of the producer surplus with reference to the line flow limits under a DC power flow model for network representation. Two different kinds of indices, that can capture the market power arising under network constraints, are proposed. The first set of indices is the location privilege (LP), that measure the effect of the generators positioning in the grid on their surplus under perfect competition. The second set is for the network market power (NMP) indices that take into account the strategic behaviors of the producers that may take advantage of the congestion of the transmission lines. The indices allow for a ranking of the lines in terms of the market power they can induce and, in this respect, they may help the market regulator to focus on the network weakness in terms of the possible market outcomes under the market power behaviors from the supply side. The application of the proposed indices is illustrated with reference to the IEEE 30-bus test system. (author)

  14. Implications of Carbon Regulation for Green Power Markets

    Energy Technology Data Exchange (ETDEWEB)

    Bird, Lori [National Renewable Energy Lab. (NREL), Golden, CO (United States); Holt, Ed [Ed Holt & Associates Inc., Harpeswell, ME (United States); Carroll, Ghita [National Renewable Energy Lab. (NREL), Golden, CO (United States)

    2007-04-01

    This paper examines the potential effects that emerging mandatory carbon markets have for voluntary markets for renewable energy, or green power markets. In an era of carbon regulation, green power markets will continue to play an important role because many consumers may be interested in supporting renewable energy development beyond what is supported through mandates or other types of policy support. The paper examines the extent to which GHG benefits motivate consumers to make voluntary renewable energy purchases and summarizes key issues emerging as a result of these overlapping markets, such as the implications of carbon regulation for renewable energy marketing claims, the demand for and price of renewable energy certificates (RECs), and the use of RECs in multiple markets (disaggregation of attributes). It describes carbon regulation programs under development in the Northeast and California, and how these might affect renewable energy markets in these regions, as well as the potential interaction between voluntary renewable energy markets and voluntary carbon markets, such as the Chicago Climate Exchange (CCX). It also briefly summarizes the experience in the European Union, where carbon is already regulated. Finally, the paper presents policy options for policymakers and regulators to consider in designing carbon policies to enable carbon markets and voluntary renewable energy markets to work together.

  15. A New Framework for Reactive Power Market Considering Power System Security

    Directory of Open Access Journals (Sweden)

    A. Rabiee

    2009-09-01

    Full Text Available This paper presents a new framework for the day-ahead reactive power market based on the uniform auction price. Voltage stability and security have been considered in the proposed framework. Total Payment Function (TPF is suggested as the objective function of the Optimal Power Flow (OPF used to clear the reactive power market. Overload, voltage drop and voltage stability margin (VSM are included in the constraints of the OPF. Another advantage of the proposed method is the exclusion of Lost Opportunity Cost (LOC concerns from the reactive power market. The effectiveness of the proposed reactive power market is studied based on the CIGRÉ-32 bus test system.

  16. Cost reduction potentials in the German market for balancing power

    International Nuclear Information System (INIS)

    Flinkerbusch, Kai; Heuterkes, Michael

    2010-01-01

    This article examines potential cost reductions in the market for balancing power by pooling all four German control areas. In a united control area both the procurement and the production of balancing power may be more efficient than in four separated control areas. Our data contain bids on energy procurement as well as balancing power flows in the period from December 2007 to November 2008. A reference scenario simulates the market results for secondary and tertiary balancing power. Subsequently, we simulate a united control area. We show that in the period under review the total costs of balancing power are reduced by 17%. (author)

  17. Power Industry Reliability Coordination in Asia in a Market Environment

    OpenAIRE

    Hammons, Thomas J.; Voropai, Nikolai I.

    2010-01-01

    This paper addresses the problems of power supply reliability in a market environment. The specific features of economic interrelations between the power supply organization and consumers in terms of reliability assurance are examined and the principles of providing power supply reliability are formulated. The economic mechanisms of coordinating the interests of power supply organization and consumers to provide power supply reliability are discussed. Reliability of restructuring China's powe...

  18. Facilitators and impediments in the adoption and implementation of the HubSpot marketing automation system

    OpenAIRE

    Leinonen, Miira

    2017-01-01

    Marketing automation is growing popularity among companies but it has not yet received great academic interest. Therefore, neither marketing automation systems have been studied thoroughly. Other preceding systems in marketing and sales, such as customer relationship management (CRM) and sales force automation (SFA) have however been explored comprehensively. The goal of this research is to increase the understanding of successful adoption and implementation of a marketing automation syst...

  19. Power system models - A description of power markets and outline of market modelling in Wilmar

    DEFF Research Database (Denmark)

    Meibom, Peter; Morthorst, Poul Erik; Nielsen, Lars Henrik

    2004-01-01

    The aim of the Wilmar project is to investigate technical and economical problems related to large-scale deployment of renewable sources and to develop a modelling tool that can handle system simulations for a larger geographical region with anInternational power exchange. Wilmar is an abbreviati...... description of the power market models usedin Wilmar is given in the second part, though the mathematical presentations of the models are left out of this report and will be treated in a later publication from the project.......The aim of the Wilmar project is to investigate technical and economical problems related to large-scale deployment of renewable sources and to develop a modelling tool that can handle system simulations for a larger geographical region with anInternational power exchange. Wilmar is an abbreviation...... of “Wind Power Integration in Liberalised Electricity Markets”. The project was started in 2002 and is funded by the EU’s 5th Research programme on energy and environment. Risø National Laboratory isco-ordinator of the project and partners include SINTEF, Kungliga Tekniska Högskola, University of Stuttgart...

  20. Green Power Marketing in Retail Competition: An Early Assessment

    Energy Technology Data Exchange (ETDEWEB)

    Wiser, R. (LBL); Fang, J.; Porter, K.; Houston, A. (NREL)

    1999-02-26

    Green power marketing-the business of selling electricity products or services based in part on their environmental values-is still in an early stage of development. This Topical Issues Brief presents a summary of early results with green power marketing under retail competition, covering both fully competitive markets and relevant direct access pilot programs. The brief provides an overview of green products that are or were offered, and discusses consumers' interest in these products. Critical issues that will impact the availability and success of green power products under retail competition are highlighted.

  1. Green Power Marketing in Retail Competition: An Early Assessment

    International Nuclear Information System (INIS)

    Kevin Porter; Ryan Wiser

    1999-01-01

    Green power marketing-the business of selling electricity products or services based in part on their environmental values-is still in an early stage of development. This Topical Issues Brief presents a summary of early results with green power marketing under retail competition, covering both fully competitive markets and relevant direct access pilot programs. The brief provides an overview of green products that are or were offered, and discusses consumers' interest in these products. Critical issues that will impact the availability and success of green power products under retail competition are highlighted

  2. Uncovering the Hidden Transaction Costs of Market Power

    DEFF Research Database (Denmark)

    Foss, Kirsten; Foss, Nicolai J.; Klein, Peter G.

    2018-01-01

    A central construct in competitive strategy research is market power, the ability to raise price above marginal cost. Positioning research focuses on attempts to build, protect, and exercise market power. However, this approach contains hidden assumptions about transaction costs. Parties made worse...... off by the exercise of market power can negotiate, bargain, form coalitions, and otherwise contract around the focal firm's attempts to appropriate monopoly profits—depending on transaction costs. We build on property rights economics to explain how transaction costs affect positioning and offer...

  3. New nuclear power plants and the electricity market competition

    International Nuclear Information System (INIS)

    Ruska, M.; Koreneff, G.

    2009-11-01

    The study assesses the effects the different nuclear power plant projects would have on crossownership, market concentration and market power in electricity market. The analyses are given both for Finnish and Nordic power markets. The authors feel that the electricity market should primarily be viewed as a common Nordic market in the future. During 2000 to 2008 the hours when Finland was an own price area ranged from 1 % to 29 % as annual averages. In the future it will be more and more seldom that Finland will become an own deficit price area, because the cross-border transmission capacity to Sweden will increase as will Finnish electricity production capacity. In addition, the extension of Nord Pool to the Baltic will increase the size of the market. The ownership of power plants is typically organized through power share companies in Finland. Two of the three nuclear power plant projects are joint ventures with several electricity producers and consumers. The current ownership relations and what effects the new projects might have on them were analyzed in this study. The competitiveness of different electricity production forms in the future was assessed using different market scenarios based on varying demand expectations. The capacity structure was assumed to stay quite unchanged, where the biggest change is expected to come from new renewable power capacity due to EU targets. Conventional condensing power production will decrease and Nordic electricity exports will increase in the future. The market concentration would increase in Finland with new nuclear plants, the most if Fortum were the builder. Vattenfall has a decidedly larger electricity production in the Nordic countries than Fortum, and Vattenfall's capacity would be unchanged by the new planned nuclear plants. The nuclear power plant projects do not therefore increase market concentration significantly on a Nordic level. Nuclear power is not used for day or hour regulation in Finland, which means

  4. Assembling markets for wind power. An inquiry into the making of market devices

    Energy Technology Data Exchange (ETDEWEB)

    Pallesen, T.

    2013-04-15

    This project studies the making of a market for wind power in France. Markets for wind power, as well as markets for other renewable energies, are often referred to as 'political markets: On the one hand, wind power has the potential to reduce CO{sub 2}-emissions and thus stall the effects of electricity generation on climate change; and on the other hand, as an economic good, wind power is said to suffer from 'disabilities', such as high costs, fluctuating and unpredictable generation, etc. Therefore, because of its performance as a good, it is argued that the survival of wind power in the market is premised on different instruments, some of which I will refer to as 'prosthetic devices'. This thesis inquires into two such prosthetic devices: The feed-in tariff and the wind power development zones (ZDE) as they are negotiated and practiced in France, and the ways in which they affect the making of markets for wind power. In this thesis, it is argued that while the two devices frame the price of wind power and the location of turbines, they also affect and address questions of costs, profitability, and efficiency; and as such, they may be investigated as market devices. (Author)

  5. 33 CFR 209.141 - Coordination of hydroelectric power operations with power marketing agencies.

    Science.gov (United States)

    2010-07-01

    ... Commanders will develop, in coordination with their respective power marketing agency, a system for exchanging operating information. The system will include general operating information and information on... power operations with power marketing agencies. 209.141 Section 209.141 Navigation and Navigable Waters...

  6. Commercial Power Centers in Emerging Markets

    National Research Council Canada - National Science Library

    Treverton, Gregory

    1998-01-01

    .... All the countries examined-Mexico, Turkey, China and Indonesia-are in transition; all are attempting in varying degrees to implement what might broadly be called "market reforms"-shrinking subsidies to state-owned enterprises (SOEs...

  7. Operation and sizing of energy storage for wind power plants in a market system

    International Nuclear Information System (INIS)

    Korpaas, M.; Holen, A.T.

    2003-01-01

    This paper presents a method for the scheduling and operation of energy storage for wind power plants in electricity markets. A dynamic programming algorithm is employed to determine the optimal energy exchange with the market for a specified scheduling period, taking into account transmission constraints. During operation, the energy storage is used to smooth variations in wind power production in order to follow the scheduling plan. The method is suitable for any type of energy storage and is also useful for other intermittent energy resources than wind. An application of the method to a case study is also presented, where the impact of energy storage sizing and wind forecasting accuracy on system operation and economics are emphasized. Simulation results show that energy storage makes it possible for owners of wind power plants to take advantage of variations in the spot price, by thus increasing the value of wind power in electricity markets. With present price estimates, energy storage devices such as reversible fuel cells are likely to be a more expensive alternative than grid expansions for the siting of wind farms in weak networks. However, for areas where grid expansions lead to unwanted interference with the local environment, energy storage should be considered as a reasonable way to increase the penetration of wind power. (author)

  8. Competitiveness of nuclear power in Japanese liberalized electricity market

    International Nuclear Information System (INIS)

    Abe, Y.

    2006-01-01

    The liberalization of Japanese electricity market expanded to customers of over 50 kV on April 1, 2005 and more than 60% of the market has been already open. The discussion about the assistance measures of nuclear power generation in Japanese liberalization of electricity market has come to grow warmer gradually. The opinions on the competitiveness of nuclear power are inconsistency among the supporters of nuclear power. Some says that nuclear power is the most competitive, others says nuclear power require some sort of financial or political assistance in the deregulation of electricity market. In this study, based on financial statements of each Japanese electric power company, the constitution of generation cost of nuclear power is illustrated and various financial and economic characteristics, including ''merit of scale'' and the impact of new nuclear power plant construction on the finance of electric power company, are discussed. In addition, the economic features of nuclear power generation are compared with those of thermal power generation through the analysis of financial statements. Finally, support policies for nuclear power required in deregulation of electric utilities are examined in terms of fairness of competition and security of electricity supply

  9. From the ecological niche to the mass market with 'Green Power Marketing' - 1st European Conference on Green Power Marketing 2001

    International Nuclear Information System (INIS)

    2001-01-01

    This report summarises the information presented at the European Conference on Green Power Marketing held in 2001 in St. Moritz, Switzerland. It takes a look at the market chances of ecologically produced electricity for use in Switzerland and for export. The opinions of experts from the areas of research, business, politics, marketing and non-governmental organisations that were presented at the meeting are summarised. European perspectives and trends in the USA are discussed and examples of green power marketing in the USA and Holland are given. Marketing issues and price policies are discussed, as are labelling strategies and customer perception of 'Green Power' issues. Also, sales issues including e-marketing, power-market rules and certificate trading are dealt with

  10. Informational Efficiency in the USD/KRW Spot Market: Some Evidence from a Joint Runs Test and Foreigners’ Trading Rule Profits

    Directory of Open Access Journals (Sweden)

    Changmo Ahn

    2010-12-01

    Full Text Available This paper examines whether the USD/KRW spot market is efficient in processing new information by employing both the Runs Test and the foreigners' securities trading rule profitability approach. Excluding the period of 2008 financial crisis, the USD/KRW spot market is efficient in terms of close rates, but not efficient in terms of open rates. The foreigners' securities trading rule can also produce statistically significant profits if the trades are based on open prices, though not high. This implies that traders can predict future exchange rates, to some degree, with the information on foreign net purchases of securities in the Korean stock/ bond markets. If we consider the related interest differentials and transaction costs, however, the profits fade out to marginal level or below. This result implies that traders can expect the existence of predictability in the USD/KRW spot market, but not profitability.

  11. Multifractal features of spot rates in the Liquid Petroleum Gas shipping market

    NARCIS (Netherlands)

    Engelen, Steve; Norouzzadeh, Payam; Dullaert, Wout; Rahmani, Bahareh

    We investigate for the first time the spot rate dynamics of Very Large Gas Carriers (VLGCs) by means of multifractal detrended fluctuation analysis (MF-DFA) and rescaled range (R/S) analysis. Both non-parametric methods allow for a rigorous statistical analysis of the freight process by detecting

  12. Selling power : marketing energy under deregulation

    Energy Technology Data Exchange (ETDEWEB)

    Drummond, J.; Hanna, F.

    2001-07-01

    This book discussed the marketing of energy in a deregulated environment. Experience from long distance telephone service providers has shown that historical dominance is not a guarantee for future success. As new brands are introduced and as consumer choice increases, so does the ability to change from one provider to another. Price is only one of the factors prompting that change. Old rules and practices do not bind new competitors who must face the challenge of open competition and must be aware of the ever-changing face of business. It was recommended that the strategic solution would be to build a brand and to develop significant market shares and create effective customer retention programs. This book focused on the elements that energy marketing professionals must use to maintain and increase share without product differentiation. It also explained how energy providers can effectively attract and retain customers over the long term while keeping marketing and service delivery costs down. It was suggested that small players can compete with the growing strength of regional providers by creating new alliances between larger energy conglomerates. The chapters of the book were entitled: (1) Introduction, (2) The Goals of Deregulation, (3) Strategic Marketing Choices, (4) Relationship Marketing, (5) The Role of Customer Service, (6) The Question of Outsourcing, and (7) Final Thoughts and Observations. 24 refs., 3 figs.

  13. Selling power : marketing energy under deregulation

    International Nuclear Information System (INIS)

    Drummond, J.; Hanna, F.

    2001-01-01

    This book discussed the marketing of energy in a deregulated environment. Experience from long distance telephone service providers has shown that historical dominance is not a guarantee for future success. As new brands are introduced and as consumer choice increases, so does the ability to change from one provider to another. Price is only one of the factors prompting that change. Old rules and practices do not bind new competitors who must face the challenge of open competition and must be aware of the ever-changing face of business. It was recommended that the strategic solution would be to build a brand and to develop significant market shares and create effective customer retention programs. This book focused on the elements that energy marketing professionals must use to maintain and increase share without product differentiation. It also explained how energy providers can effectively attract and retain customers over the long term while keeping marketing and service delivery costs down. It was suggested that small players can compete with the growing strength of regional providers by creating new alliances between larger energy conglomerates. The chapters of the book were entitled: (1) Introduction, (2) The Goals of Deregulation, (3) Strategic Marketing Choices, (4) Relationship Marketing, (5) The Role of Customer Service, (6) The Question of Outsourcing, and (7) Final Thoughts and Observations. 24 refs., 3 figs

  14. Coupled energy and reactive power market clearing considering power system security

    International Nuclear Information System (INIS)

    Rabiee, Abdorreza; Shayanfar, Heidarali; Amjady, Nima

    2009-01-01

    In a deregulated environment, when talking about electricity markets, one usually refers to energy market, paying less attention to the reactive power market. Active and reactive powers are, however, coupled through the AC power flow equations and branch loading limits as well as the synchronous generators capability curves. However, the sequential approach for energy and reactive power markets cannot present the optimal solution due to the interactions between these markets. For instance, clearing of the reactive power market can change active power dispatch (e.g. due to a change of transmission system losses and the capability curve limitation), which can lead to degradation of the energy market clearing point. This paper presents a coupled day ahead energy and reactive power market based on the pay-at-MCP settlement mechanism. Besides, the proposed coupled framework considers voltage stability and security issues and branch loading limits. The coupled market is cleared through optimal power flow (OPF). Its objective function includes total payment of generating units for their active power production along with the total payment function (TPF) of units for their reactive power compensation. Moreover, lost opportunity cost (LOC) of the units is also considered. The effectiveness of the proposed framework is examined on the IEEE 24 bus Reliability Test System

  15. Coupled energy and reactive power market clearing considering power system security

    Energy Technology Data Exchange (ETDEWEB)

    Rabiee, Abdorreza; Shayanfar, Heidarali [Center of Excellence for Power System Automation and Operation, Electrical Engineering Department, Iran University of Science and Technology (IUST), Tehran (Iran); Amjady, Nima [Department of Electrical Engineering, Semnan University, Semnan (Iran)

    2009-04-15

    In a deregulated environment, when talking about electricity markets, one usually refers to energy market, paying less attention to the reactive power market. Active and reactive powers are, however, coupled through the AC power flow equations and branch loading limits as well as the synchronous generators capability curves. However, the sequential approach for energy and reactive power markets cannot present the optimal solution due to the interactions between these markets. For instance, clearing of the reactive power market can change active power dispatch (e.g. due to a change of transmission system losses and the capability curve limitation), which can lead to degradation of the energy market clearing point. This paper presents a coupled day ahead energy and reactive power market based on the pay-at-MCP settlement mechanism. Besides, the proposed coupled framework considers voltage stability and security issues and branch loading limits. The coupled market is cleared through optimal power flow (OPF). Its objective function includes total payment of generating units for their active power production along with the total payment function (TPF) of units for their reactive power compensation. Moreover, lost opportunity cost (LOC) of the units is also considered. The effectiveness of the proposed framework is examined on the IEEE 24 bus Reliability Test System. (author)

  16. 2004 Power marketing program draft environmental impact statement

    International Nuclear Information System (INIS)

    1996-04-01

    The Western Area Power Administration (Western), created in 1977 under the Department of Energy (DOE) Organization Act, markets and transmits electric power throughout 15 western states. Western's Sierra Nevada Customer Service Region (Sierra Nevada Region) markets approximately 1,480 megawatts (MW) of power from the Central Valley Project (CVP) and other sources, and markets available nonfirm energy from the Washoe Project. The Sierra Nevada Region's marketing area is shown in Figure 1. 1. Western's mission is to sell and deliver electricity that is in excess of Project Use (power required for project operations), which for the Sierra Nevada Region is generated from CVP and Washoe Project powerplants. Western's power marketing responsibility includes managing the Federal transmission system. The hydroelectric generation facilities of the CVP are operated by the Bureau of Reclamation (Reclamation). Reclamation manages and releases water in accordance with the various acts authorizing specific projects and with other laws and enabling legislation. Western's capacity and energy sales must be in conformance with the laws that govern its sale of electrical power. Hydropower operations at each facility must comply with minimum and maximum flows and other constraints set by Reclamation, the U.S. Fish and Wildlife Service (the Service), or other regulatory agencies, acting in accordance with law or policy. This EIS describes the environmental consequences of the range of reasonable marketing alternatives that meet the needs and purposes of the proposed marketing plan

  17. The economics of energy storage in 14 deregulated power markets

    International Nuclear Information System (INIS)

    Figueiredo, F.C.; Flynn, P.C.; Cabral, E.A.

    2006-01-01

    In regulated power markets, electricity is stored to better utilize existing generation and to defer costly investment in generation. The justification is a reduction in the overall regulated price of power compared to the alternative investment in new primary generation. However, any storage of electrical power also involves a capital investment and incurs the cost of inefficiency. In deregulated energy markets, the sale of electricity or ancillary services from pumped storage can be evaluated based on each individual project. The economic basis for power storage is that power is purchased during periods of low price and resold during periods of high price. This study used historical power price data from 14 deregulated markets around the world to evaluate the economic incentive to use pumped storage for electrical energy. Each market was shown to have a unique average diurnal power price profile that results in a unique price spread for pumped storage. The diurnal price pattern and efficiency of storage was used to assess the net income potential from energy sales from pumped storage for each market. The markets were ranked in terms of the incentive to invest in pumped energy storage as well as on available revenue, and on potential return on investment. An optimal operating profile was illustrated in detail based on historical price patterns for one of the markets. The net income potential was then combined with the capital and operating cost of pumped storage. The adequacy of return on investment for pumped storage was analyzed by two different methods. The differences between markets stem from different diurnal power price patterns that reflect the generation mix, market design and participant behaviours. 17 refs., 7 tabs., 7 figs., 1 appendix

  18. A review of international green power markets: recent experience, trends, and market drivers

    OpenAIRE

    Bird, Lori; Wüstenhagen, Rolf; Aabakken, Jorn

    2002-01-01

    Green power marketing-the act of differentially selling electricity generated wholly or in part from renewable sources-has emerged in more than a dozen countries around the world. Almost two million customers worldwide buy green power today. This paper reviews green power marketing activity in Australia, Canada, Japan, the US, and in a number of countries in Europe to gain an understanding of consumer demand for electricity generated from renewable sources. It also examines key factors that i...

  19. A game theoretic model of the Northwestern European electricity market-market power and the environment

    International Nuclear Information System (INIS)

    Lise, Wietze; Linderhof, Vincent; Kuik, Onno; Kemfert, Claudia; Ostling, Robert; Heinzow, Thomas

    2006-01-01

    This paper develops a static computational game theoretic model. Illustrative results for the liberalising European electricity market are given to demonstrate the type of economic and environmental results that can be generated with the model. The model is empirically calibrated to eight Northwestern European countries, namely Belgium, Denmark, Finland, France, Germany, The Netherlands, Norway, and Sweden. Different market structures are compared, depending on the ability of firms to exercise market power, ranging from perfect competition without market power to strategic competition where large firms exercise market power. In addition, a market power reduction policy is studied where the near-monopolies in France and Belgium are demerged into smaller firms. To analyse environmental impacts, a fixed greenhouse gas emission reduction target is introduced under different market structures. The results indicate that the effects of liberalisation depend on the resulting market structure, but that a reduction in market power of large producers may be beneficial for both the consumer (i.e. lower prices) and the environment (i.e. lower greenhouse gas permit price and lower acidifying and smog emissions)

  20. Market redesign and regulatory change : how companies doing business in Alberta's power markets will be affected

    International Nuclear Information System (INIS)

    Runge, C.

    2003-01-01

    The Power Pool of Alberta (PPA) began its operations in 1996 based on a model with a single price set based on day ahead offers/bids and real time dispatch. The Electric Utilities Act was amended in 1998 and direct sales were permitted in 1999. The Power Purchase Arrangement Auction was implemented in 2000. Significant events took place in 2001, including: (1) retail competition, (2) PPAs began operations, (3) restrictions on direct sales were removed, (4) forward exchange operation, and (5) ancillary services market. In 2002, the Market Achievement Plan II was implemented and government industry structure was reviewed. There are several considerations regarding market redesign, such as day ahead market, capacity market, congestion management, and Northwest Regional Transmission Organization (RTO West). The role of the International Standard Organization (ISO) was discussed, with reference to the Independent System Operator, Independent Market Operator, and Transmission and Market Planner. Redesign must involve all participants and include informed, phased in changes

  1. The adaptation of the electric power companies to the power market

    International Nuclear Information System (INIS)

    Otterstad, B.; Ottosen, R.

    1993-02-01

    This report describes the challenges met by the Norwegian electric power companies in adapting to a more market oriented business and their possibilities and strategies when facing the uncertainties on the market side. The main principles of adaptation to the market are described and various strategies are illustrated by means of simple calculations and figures. The theoretical basis for analyses of adaptation to the market and for pricing period contracts and options are discussed. The report concludes with a discussion of the de-regulation of the North American gas market and draws parallels to the Norwegian power market. 17 figs

  2. Recipes for success in the marketing of solar power; Erfolgsrezepte fuer Solarstrom-Marketing

    Energy Technology Data Exchange (ETDEWEB)

    Frauenfelder, S. [Linder Kommunikation AG, Zuerich (Switzerland); Peter, M. [IPSO Sozial-, Marketing- und Personalforschung, Duebendorf (Switzerland)

    1999-07-01

    This report for the Swiss Federal Office of Energy (SFOE) presents the results of a study made of the different concepts used by Swiss electricity utilities in the marketing of solar power. The results of investigations made at 10 utilities and of interviews with 1000 customers are presented. The various marketing methods used by the utilities, including types of product and the methods chosen for communication and promotion, are examined. The marketing of solar power as perceived by actual and potential customers is also examined. In particular, price, image and trustworthiness of the offers are looked at and the four marketing-mix components product, price, sales and promotion are discussed. The authors conclude that the potential for selling solar power is not yet fully exhausted, as shown by customer interviews. The report is rounded off with a review of the particular problems that are still to be resolved in the marketing of solar power.

  3. The impact of the Market Power Mitigation Agreement on power prices in Ontario

    International Nuclear Information System (INIS)

    Chute, R. G.

    2000-01-01

    Market power was defined by the Market Design Committee (MDC) as 'the ability to sustain a significant price increase profitably', although it is generally understood to refer to the 'overwhelming dominance of generating capacity and supply capability of Ontario Power Generation' (OPG), the former generating arm of Ontario Hydro. The MDC sought to address market power within the context of the Ontario Government's White Paper on electricity sector reform, entitled 'Directions for Change'. The solution was the Market Power Mitigation Agreement (MPMA), a negotiated agreement between the MDC and OPG that established market share goals and provided incentives and penalties to meet these goals. Briefly, the major instrument used by the MPMA is the price of electric power sold in the Ontario market to reward, or penalize the actions of OPG in moving towards its market share goals as defined in the MPMA. This paper explains the principal elements of the MPMA and how they are expected to influence the market prices for power in Ontario. The principal elements of the Agreement are price cap and rebate, decontrol targets, and intertie capacity and limits, while the instruments comprise licence conditions, settlement agreements, market rules and ministerial directives. The issue of the impact of the MPMA on the cost of power, and the future prospects of market power after the expiration of the MPMA are also addressed

  4. Power system economics : the Nordic electricity market. 2nd ed.

    International Nuclear Information System (INIS)

    Wangensteen, Ivar

    2012-01-01

    This book written as a textbook for students of engineering is designed for the Norwegian Power Markets course which is part of the Energy and Environment Master's Program and the recently established international MSc program in Electric Power Engineering. As the title indicates, the book deals with both power system economics in general and the practical implementation and experience from the Nordic market. Areas of coverage include: -- Restructuring/deregulation of the power supply system -- Grid access including tariffs and congestion management -- Generation planning -- Market modeling -- Ancillary services -- Regulation of grid monopolies. Although Power Systems Economics is written primarily as a textbook for students, other readers will also find the book interesting. It deals with problems that have been subject of considerable attention in the power sector for some years and it addresses issues that are still relevant and important. (au)

  5. 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...

  6. Power system economics : the Nordic electricity market. 2nd ed.

    Energy Technology Data Exchange (ETDEWEB)

    Wangensteen, Ivar

    2012-07-01

    This book written as a textbook for students of engineering is designed for the Norwegian Power Markets course which is part of the Energy and Environment Master's Program and the recently established international MSc program in Electric Power Engineering. As the title indicates, the book deals with both power system economics in general and the practical implementation and experience from the Nordic market. Areas of coverage include: -- Restructuring/deregulation of the power supply system -- Grid access including tariffs and congestion management -- Generation planning -- Market modeling -- Ancillary services -- Regulation of grid monopolies. Although Power Systems Economics is written primarily as a textbook for students, other readers will also find the book interesting. It deals with problems that have been subject of considerable attention in the power sector for some years and it addresses issues that are still relevant and important. (au)

  7. Power plant operation and management in a deregulated market

    Energy Technology Data Exchange (ETDEWEB)

    Carraretto, Cristian [Department of Mechanical Engineering, University of Padova, Via Venezia, 1-35131 Padova (Italy)

    2006-05-15

    This paper analyzes the influence of electricity deregulation on the design, operation and management of the power plants owned by strategic and non-strategic producers. After a sensitivity analysis aimed at finding market conditions of profitable operation for thermal and hydroelectric power plants, a Nash-equilibrium market model is used to determine producers' optimum strategies, depending on their relative market power and overall production characteristics. Attention is then focused on the operation of single thermal power plants. Their short-term management plans and consequent effects on emission levels and residual life are described. The available reserve for primary and secondary control deriving from producers' market strategies is discussed. Some design options to improve combined cycles contribution to reserve service are finally described. The paper discusses these problems with a general approach, and uses many cases and examples derived from the current Italian scenario. (author)

  8. Power plant operation and management in a deregulated market

    International Nuclear Information System (INIS)

    Carraretto, Cristian

    2006-01-01

    This paper analyzes the influence of electricity deregulation on the design, operation and management of the power plants owned by strategic and non-strategic producers. After a sensitivity analysis aimed at finding market conditions of profitable operation for thermal and hydroelectric power plants, a Nash-equilibrium market model is used to determine producers' optimum strategies, depending on their relative market power and overall production characteristics. Attention is then focused on the operation of single thermal power plants. Their short-term management plans and consequent effects on emission levels and residual life are described. The available reserve for primary and secondary control deriving from producers' market strategies is discussed. Some design options to improve combined cycles contribution to reserve service are finally described. The paper discusses these problems with a general approach, and uses many cases and examples derived from the current Italian scenario. (author)

  9. Design of reactive power procurement in deregulated electricity market

    African Journals Online (AJOL)

    user

    novel reactive power procurement model is proposed, which ensure secure and ..... The simulation is performed in the Matlab. .... focus of this paper is a reactive procurement market model, which is a basically two-step optimization process.

  10. 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

  11. PRICE DISCRIMINATION AND MARKET POWER: A THEORETICAL ANALYSIS

    Directory of Open Access Journals (Sweden)

    Olga Smirnova

    2015-07-01

    Full Text Available This paper analyzes the contemporary theoretical and empirical research in the field of impact assessment of market power and conclusions about the possibilities of the company to implement price discrimination in different market structures. The results of the analysis allow to evaluate current approaches to antitrust regulation of price discrimination.

  12. Your School's Web Site-A Powerful Tool for Marketing.

    Science.gov (United States)

    Say, Michael W.; Collier, Karen J.; Hoya, Charlotte, G.

    2001-01-01

    A successful marketing plan requires a conceptual framework, the ability to target an audience effectively, and the strategy for positioning the school organization appropriately. A website can be a powerful marketing tool if it focuses on what users want and provides it in an organized, accessible fashion. (MLH)

  13. 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.

  14. Conjectural variation based learning model of strategic bidding in spot market

    International Nuclear Information System (INIS)

    Yiqun Song; Yixin Ni; Fushuan Wen; Wu, F.F.

    2004-01-01

    In actual electricity market, which operates repeatedly on the basis of one hour or half hour, each firm might learn or estimate other competitors' strategic behaviors from available historical market operation data, and rationally aims at its maximum profit in the repeated biddings. A conjectural variation based learning method is proposed in this paper for generation firm to improve its strategic bidding performance. In the method, each firm learns and dynamically regulates its conjecture upon the reactions of its rivals to its bidding according to available information published in the electricity market, and then makes its optimal generation decision based on the updated conjectural variation of its rivals. Through such learning process, the equilibrium reached in the market is proven a Nash equilibrium. Motivation of generation firm to learn in the changing market environment and consequence of learning behavior in the market are also discussed through computer tests. (author)

  15. A method for short term electricity spot price forecasting

    International Nuclear Information System (INIS)

    Koreneff, G.; Seppaelae, A.; Lehtonen, M.; Kekkonen, V.; Laitinen, E.; Haekli, J.; Antila, E.

    1998-01-01

    In Finland, the electricity market was de-regulated in November 1995. For the electricity purchase of power companies this has caused big changes, since the old tariff based contracts of bulk power supply have been replaced by negotiated bilateral short term contracts and by power purchase from the spot market. In the spot market, in turn, there are at the present two strong actors: The electricity exchange of Finland and the Nordic power pool which is run by the Swedish and Norwegian companies. Today, the power companies in Finland have short term trade with both of the electricity exchanges. The aim of this chapter is to present methods for spot price forecasting in the electricity exchange. The main focus is given to the Finnish circumstances. In the beginning of the presentation, the practices of the electricity exchange of Finland are described, and a brief presentation is given on the different contracts, or electricity products, available in the spot market. For comparison, the practices of the Nordic electricity exchange are also outlined. A time series technique for spot price forecasting is presented. The structure of the model is presented, and its validity is tested using real case data obtained from the Finnish power market. The spot price forecasting model is a part of a computer system for distribution energy management (DEM) in a de-regulated power market

  16. A method for short term electricity spot price forecasting

    Energy Technology Data Exchange (ETDEWEB)

    Koreneff, G; Seppaelae, A; Lehtonen, M; Kekkonen, V [VTT Energy, Espoo (Finland); Laitinen, E; Haekli, J [Vaasa Univ. (Finland); Antila, E [ABB Transmit Oy (Finland)

    1998-08-01

    In Finland, the electricity market was de-regulated in November 1995. For the electricity purchase of power companies this has caused big changes, since the old tariff based contracts of bulk power supply have been replaced by negotiated bilateral short term contracts and by power purchase from the spot market. In the spot market, in turn, there are at the present two strong actors: The electricity exchange of Finland and the Nordic power pool which is run by the Swedish and Norwegian companies. Today, the power companies in Finland have short term trade with both of the electricity exchanges. The aim of this chapter is to present methods for spot price forecasting in the electricity exchange. The main focus is given to the Finnish circumstances. In the beginning of the presentation, the practices of the electricity exchange of Finland are described, and a brief presentation is given on the different contracts, or electricity products, available in the spot market. For comparison, the practices of the Nordic electricity exchange are also outlined. A time series technique for spot price forecasting is presented. The structure of the model is presented, and its validity is tested using real case data obtained from the Finnish power market. The spot price forecasting model is a part of a computer system for distribution energy management (DEM) in a de-regulated power market

  17. Combined Heat and Power in an open market

    International Nuclear Information System (INIS)

    Hawkins, A.

    1999-01-01

    The chances and risks for combined heat and power (CHP) installations presented by the future liberalisation of the electricity market in Switzerland are discussed. A summary of papers and speeches presented at a conference in Basle is presented. New developments in the electricity marketplace are looked at from the point of view of CHP unit manufacturers, the Federal Administration, energy policy makers and marketing experts. Examples are quoted concerning the situation in Germany and possible changes in power generation philosophy

  18. Information Brief on Green Power Marketing Fourth Edition

    Energy Technology Data Exchange (ETDEWEB)

    Swezey, B.; Bird, L.

    1999-08-18

    For the first time in many decades, consumers are being given a choice of who supplies their electric power and how that power is generated. One of these choices is to support electricity generation from more environmentally beneficial energy sources. The term ''green power'' generally refers to electricity supplied from renewable energy sources. By some estimates, nearly one-quarter of all US consumers will have the option to purchase green power by the end of 1999, either from their regulated utility provider or in competitive markets. As of July 1999, consumers can choose to purchase competitively marketed green power in California, Massachusetts, Pennsylvania, and Rhode Island. As competition spreads in the electric power industry, more consumers will have this choice. The purpose of this Information Brief is to provide electric industry analysts with information on green power market trends. Descriptive information on green power marketing activities in both competitive and regulated market settings, as well as other pertinent data and information, are included.

  19. The Impact of Wind Power on European Natural Gas Markets

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2012-09-06

    Due to its clean burning properties, low investment costs and flexibility in production, natural gas is often put forward as the ideal partner fuel for wind power and other renewable sources of electricity generation with strongly variable output. This working paper examines three vital questions associated with this premise: 1) Is natural gas indeed the best partner fuel for wind power? 2) If so, to what extent will an increasing market share of wind power in European electricity generation affect demand for natural gas in the power sector? and 3) Considering the existing European natural gas markets, is natural gas capable of fulfilling this role of partner for renewable sources of electricity?.

  20. Capacity choice, technology mix and market power

    International Nuclear Information System (INIS)

    Meunier, Guy

    2010-01-01

    This paper investigates strategic capacity choices in electricity markets comprised of heterogeneous firms. Long term strategic investments are analyzed assuming that the wholesale market is competitive. There are two technologies available to produce electricity; both are efficient and used at a first best optimum. When not all firms can invest in both technologies, there can be over investment in either of these technologies. It is shown that if the number of firms that can invest in a particular technology is limited, the development of competition solely using the other technology can decrease welfare. (author)

  1. Credit Risk Evaluation of Large Power Consumers Considering Power Market Transaction

    Science.gov (United States)

    Fulin, Li; Erfeng, Xu; ke, Sun; Dunnan, Liu; Shuyi, Shen

    2018-03-01

    Large power users will participate in power market in various forms after power system reform. Meanwhile, great importance has always attached to the construction of the credit system in power industry. Due to the difference between the awareness of performance and the ability to perform, credit risk of power customer will emerge accordingly. Therefore, it is critical to evaluate credit risk of large power customers in the new situation of power market. Firstly, this paper constructs index system of credit risk of large power customers, and establishes evaluation model of interval number and AHP-entropy weight method.

  2. A combined modeling approach for wind power feed-in and electricity spot prices

    International Nuclear Information System (INIS)

    Keles, Dogan; Genoese, Massimo; Möst, Dominik; Ortlieb, Sebastian; Fichtner, Wolf

    2013-01-01

    Wind power generation and its impacts on electricity prices has strongly increased in the EU. Therefore, appropriate mark-to-market evaluation of new investments in wind power and energy storage plants should consider the fluctuant generation of wind power and uncertain electricity prices, which are affected by wind power feed-in (WPF). To gain the input data for WPF and electricity prices, simulation models, such as econometric models, can serve as a data basis. This paper describes a combined modeling approach for the simulation of WPF series and electricity prices considering the impacts of WPF on prices based on an autoregressive approach. Thereby WPF series are firstly simulated for each hour of the year and integrated in the electricity price model to generate an hourly resolved price series for a year. The model results demonstrate that the WPF model delivers satisfying WPF series and that the extended electricity price model considering WPF leads to a significant improvement of the electricity price simulation compared to a model version without WPF effects. As the simulated series of WPF and electricity prices also contain the correlation between both series, market evaluation of wind power technologies can be accurately done based on these series. - Highlights: • Wind power feed-in can be directly simulated with stochastic processes. • Non-linear relationship between wind power feed-in and electricity prices. • Price reduction effect of wind power feed-in depends on the actual load. • Considering wind power feed-in effects improves the electricity price simulation. • Combined modeling of both parameters delivers a data basis for evaluation tools

  3. A comparison between intraday market and capacity market to deal with wind power forecasting errors

    Energy Technology Data Exchange (ETDEWEB)

    Boer, W.W. de; Dekker, G.W.; Frunt, J.; Duvoort, M.R. [DNV-KEMA, Arnhem (Netherlands); Jokic, A. [Faculty of Mechanical Engineering and Naval Architecture, Zagreb (Croatia)

    2012-07-01

    Future power systems with large amounts of renewable generation require more regulating power to guarantee reliability. The ancillary service market proposed in this paper guarantees both a contracted amount of regulating power in advance and an effective activation of those resources by means of the secondary controller of the TSO. Simulation results show that a certain reliability level can be maintained, depending on incentives the TSO uses to reduce remaining imbalances. This market design shows to be preferable in some aspects compared to an intraday market, which is suboptimal in balancing and a relative large remaining imbalance occurs. (orig.)

  4. Energy and environmental efficiency in competitive power markets

    International Nuclear Information System (INIS)

    Warwick, W.M.

    1995-02-01

    For years the electric utility industry operated as a regulated monopoly, largely immune to market forces except those of competing fuels. That era came to an end with the Public Utilities Regulatory Policy Act (PURPA) of 1974, which created a market for non-utility generated power. Within twenty years, non-regulated, non-utility generators had become the primary supplier of new energy resources. Their market power is matched by their political power, as evidenced in the Energy Policy Act of 1994 (EPAct), which requires open access to utility transmission lines to facilitate inter-utility bulk power sales. The conventional wisdom is that active wholesale power markets with competition among alternative generators will lead to lower power-development costs and cheaper retail power prices. The trend towards alternative bulk power sources at low prices intersects with large retail power customers' interest in accessing alternative power supplies. In most cases, these alternatives to local utilities are at a lower cost than retail rates. For the most part, proponents of generation competition have remained silent about potential environmental consequences. However, skeptics of increased competition, including major environmental groups, cite environmental impacts among their concerns. This report examines these concerns

  5. Analysis of competition and market power in the wholesale electricity market in India

    International Nuclear Information System (INIS)

    Shukla, Umesh Kumar; Thampy, Ashok

    2011-01-01

    The electricity reforms were initiated in India with the objective of promoting competition in the electricity market. In order to promote competition, the Electricity Act 2003 was enacted and various policy initiatives were taken by the Government of India. Central Electricity Regulatory Commission (CERC) also facilitated competition through the regulatory framework of availability based tariff, Indian Electricity Grid Code, open access in inter-state transmission, inter-state trading and power exchanges. Despite these initiatives, electricity prices increased in the Wholesale Electricity Market in India (WEMI). This paper analyses the market structure and competitiveness in the WEMI. There are, of course, various potential reasons for the rise in the electricity price. This paper seeks to investigate, if market power was one of the reasons for increase in market prices. Concentration ratio, Herfindahl-Hirschman index, Supply Margin Assessment, and Residual Supply Index have been used to measure market power. This paper also uses the price-cost mark-up to examine, if exercise of market power led to higher margins. The analysis suggests that market power of firms may be part of the reason for the increase in electricity prices in WEMI. The study suggests various measures to increase competition in the WEMI.

  6. Revisiting short-term price and volatility dynamics in day-ahead electricity markets with rising wind power

    International Nuclear Information System (INIS)

    Li, Yuanjing

    2015-01-01

    This paper revisits the short-term price and volatility dynamics in day-ahead electricity markets in consideration of an increasing share of wind power, using an example of the Nord Pool day-ahead market and the Danish wind generation. To do so, a GARCH process is applied, and market coupling and the counterbalance effect of hydropower in the Scandinavian countries are additionally accounted for. As results, we found that wind generation weakly dampens spot prices with an elasticity of 0.008 and also reduces price volatility with an elasticity of 0.02 in the Nordic day-ahead market. The results shed lights on the importance of market coupling and interactions between wind power and hydropower in the Nordic system through cross-border exchanges, which play an essential role in price stabilization. Additionally, an EGARCH specification confirms an asymmetric influence of the price innovations, whereby negative shocks produce larger volatility in the Nordic spot market. While considering heavy tails in error distributions can improve model fits significantly, the EGARCH model outperforms the GARCH model on forecast evaluations. (author)

  7. A stochastic MILP energy planning model incorporating power market dynamics

    International Nuclear Information System (INIS)

    Koltsaklis, Nikolaos E.; Nazos, Konstantinos

    2017-01-01

    Highlights: •Stochastic MILP model for the optimal energy planning of a power system. •Power market dynamics (offers/bids) are incorporated in the proposed model. •Monte Carlo method for capturing the uncertainty of some key parameters. •Analytical supply cost composition per power producer and activity. •Clean dark and spark spreads are calculated for each power unit. -- Abstract: This paper presents an optimization-based methodological approach to address the problem of the optimal planning of a power system at an annual level in competitive and uncertain power markets. More specifically, a stochastic mixed integer linear programming model (MILP) has been developed, combining advanced optimization techniques with Monte Carlo method in order to deal with uncertainty issues. The main focus of the proposed framework is the dynamic formulation of the strategy followed by all market participants in volatile market conditions, as well as detailed economic assessment of the power system’s operation. The applicability of the proposed approach has been tested on a real case study of the interconnected Greek power system, quantifying in detail all the relevant technical and economic aspects of the system’s operation. The proposed work identifies in the form of probability distributions the optimal power generation mix, electricity trade at a regional level, carbon footprint, as well as detailed total supply cost composition, according to the assumed market structure. The paper demonstrates that the proposed optimization approach is able to provide important insights into the appropriate energy strategies designed by market participants, as well as on the strategic long-term decisions to be made by investors and/or policy makers at a national and/or regional level, underscoring potential risks and providing appropriate price signals on critical energy projects under real market operating conditions.

  8. Task Balanced Workflow Scheduling Technique considering Task Processing Rate in Spot Market

    Directory of Open Access Journals (Sweden)

    Daeyong Jung

    2014-01-01

    Full Text Available Recently, the cloud computing is a computing paradigm that constitutes an advanced computing environment that evolved from the distributed computing. And the cloud computing provides acquired computing resources in a pay-as-you-go manner. For example, Amazon EC2 offers the Infrastructure-as-a-Service (IaaS instances in three different ways with different price, reliability, and various performances of instances. Our study is based on the environment using spot instances. Spot instances can significantly decrease costs compared to reserved and on-demand instances. However, spot instances give a more unreliable environment than other instances. In this paper, we propose the workflow scheduling scheme that reduces the out-of-bid situation. Consequently, the total task completion time is decreased. The simulation results reveal that, compared to various instance types, our scheme achieves performance improvements in terms of an average combined metric of 12.76% over workflow scheme without considering the processing rate. However, the cost in our scheme is higher than an instance with low performance and is lower than an instance with high performance.

  9. Operations Management in Short Term Power Markets

    DEFF Research Database (Denmark)

    Heide-Jørgensen, Ditte Mølgård

    Electricity market models have often been modelled as deterministic or at most two-stage stochastic models with an hourly time resolution. This thesis looks into possible ways of extending such models and formulating new models to handle both higher time resolution than hourly and stochastics wit...

  10. Power failure in the free market

    International Nuclear Information System (INIS)

    Wyman, V.

    1992-01-01

    Two leading British energy academics are calling on the United Kingdom government to abandon its strict free-market approach to energy as irrelevant and damaging. They want conscious management of the long-term development of the energy sector - in effect an energy policy. Their arguments are summarized in this article. (author)

  11. What will become of the european nuclear power plant market

    International Nuclear Information System (INIS)

    Goulden, O.A.

    1976-01-01

    In a forecast of the development of the future market for power plants and components in Europe a British consultant comes to the conclusion that the nuclear power programs established in various countries in 1974 are oversized in the light of the reduction in the increment of electricity consumption, which is expected to continue, if they are implemented in addition to existing and planned conventional thermal power stations, and that these programs are too costly if they are intended more or less only to substitute for other sources of energy. A streamlining process, which is deemed to be inescapable, is bound to result in a major cutback of the nuclear power station market in Europe and in a hard fight for survival among the power plant manufacturers now in the market. In the author's opinion, the only way out would be a uniform European electricity generation, transmission and distribution system with all the rationalization effects this would entail. (orig.) [de

  12. Market power in the European electricity market - The impacts of dry weather and additional transmission capacity

    International Nuclear Information System (INIS)

    Lise, Wietze; Hobbs, Benjamin F.; Hers, Sebastiaan

    2008-01-01

    This paper uses a static computational game theoretic model of a fully opened European electricity market and can take strategic interaction among electricity-producing firms into account. The model is run for a number of scenarios: first, in the baseline under perfect competition, the prices differ due to the presence of various generation technologies and a limited ability to exchange electricity among countries. In addition, when large firms exercise market power, the model runs indicate that prices are the highest in countries where the number of firms is low. Second, dry weather would increase the prices in the hydro-rich Nordic countries followed by the Alpine countries. The price response would be about 20% higher with market power. Third, more transmission capacity would lower the prices in countries with high prices and it also reduces the impact of market power. Hence, more transmission capacity can improve market competitiveness. (author)

  13. Market power in the European electricity market - The impacts of dry weather and additional transmission capacity

    Energy Technology Data Exchange (ETDEWEB)

    Lise, Wietze [IBS Research and Consultancy, Agahamami Cadessi 1/6, Aga Han, Cihangir, 34433 Beyoglu, Istanbul (Turkey); Energy Markets and International Environmental Policy Group, ECN Policy Studies, Energy Research Centre of the Netherlands, Amsterdam (Netherlands); Hobbs, Benjamin F. [Department of Geography and Environmental Engineering, Johns Hopkins University, Baltimore, MD 21218 (United States); Hers, Sebastiaan [Energy Markets and International Environmental Policy Group, ECN Policy Studies, Energy Research Centre of the Netherlands, Amsterdam (Netherlands)

    2008-04-15

    This paper uses a static computational game theoretic model of a fully opened European electricity market and can take strategic interaction among electricity-producing firms into account. The model is run for a number of scenarios: first, in the baseline under perfect competition, the prices differ due to the presence of various generation technologies and a limited ability to exchange electricity among countries. In addition, when large firms exercise market power, the model runs indicate that prices are the highest in countries where the number of firms is low. Second, dry weather would increase the prices in the hydro-rich Nordic countries followed by the Alpine countries. The price response would be about 20% higher with market power. Third, more transmission capacity would lower the prices in countries with high prices and it also reduces the impact of market power. Hence, more transmission capacity can improve market competitiveness. (author)

  14. Wind power bidding in electricity markets with high wind penetration

    International Nuclear Information System (INIS)

    Vilim, Michael; Botterud, Audun

    2014-01-01

    Highlights: • We analyze the pricing systems and wind power trading in electricity markets. • We propose a model that captures the relation between market prices and wind power. • A probabilistic bidding model can increase profits for wind power producers. • Profit maximizing bidding strategies carry risks for power system operators. • We conclude that modifications of current market designs may be needed. - Abstract: Objective: The optimal day-ahead bidding strategy is studied for a wind power producer operating in an electricity market with high wind penetration. Methods: A generalized electricity market is studied with minimal assumptions about the structure of the production, bidding, or consumption of electricity. Two electricity imbalance pricing schemes are investigated, the one price and the two price scheme. A stochastic market model is created to capture the price effects of wind power production and consumption. A bidding algorithm called SCOPES (Supply Curve One Price Estimation Strategy) is developed for the one price system. A bidding algorithm called MIMICS (Multivariate Interdependence Minimizing Imbalance Cost Strategy) is developed for the two price system. Results: Both bidding strategies are shown to have advantages over the assumed “default” bidding strategy, the point forecast. Conclusion: The success of these strategies even in the case of high deviation penalties in a one price system and the implicit deviation penalties of the two price system has substantial implications for power producers and system operators in electricity markets with a high level of wind penetration. Practice implications: From an electricity market design perspective, the results indicate that further penalties or regulations may be needed to reduce system imbalance

  15. Regional power marketing opportunities : current challenges and future outlooks

    International Nuclear Information System (INIS)

    Stiers, M.

    1998-01-01

    The North American demand for electric power and natural gas by sector was described and a comparison was made between the number of FERC certified electric power marketers versus natural gas marketing companies between 1986 and 1997 to illustrate the extent of changes that occurred during the decade. Regional opportunities for energy marketers were reviewed. By way of current challenges, the author identified (1) regulatory impediments, (2) divestiture of assets, (3) creation of an effective ISO, (4) establishment of effective pricing mechanisms, (5) customer systems and infrastructure, (6) forcing legislative reform, and (7) stranded cost recovery, as the most important. figs

  16. Enforcing Transferable Permit Systems in the Presence of Market Power

    International Nuclear Information System (INIS)

    Chavez, C.A.; Stanlund, J.K.

    2003-01-01

    We derive an enforcement strategy for a transferable permit system in the presence of market power that achieves complete compliance in a cost-effective manner. We show that the presence of a firm with market influence makes designing an enforcement strategy more difficult than enforcing a perfectly competitive system. We also re-consider the suggestion that a firm with market influence should be allocated permits so that it chooses to not participate in the permit market. When enforcement and its costs are taken into account, that suggestion does not hold except in a very special case

  17. Development of Danish Wind Power Market

    DEFF Research Database (Denmark)

    Meyer, Niels I

    2007-01-01

    The modern phase of Danish wind power started after the oil crisis in 1973. During the eighties technological development resulted in increased cost efficiency. In the early nineties favourable feed-in tariffs were introduced together with easy access to the grid. As a result wind power was booming...

  18. Marketing eco-power - still lots to be done

    International Nuclear Information System (INIS)

    Baettig, I.

    2005-01-01

    This article takes a look at the various eco-power offers that can currently be found on the Swiss electricity market. Various electricity utilities offer ecologically produced power in various qualities under several different names. These range from pure solar power through to various mixes of solar, wind and hydro power. The varying marketing approaches used are discussed. Local utilities have the most success in selling eco-power, whereas a large Swiss supermarket chain had difficulty selling its customers certificates for renewable electricity. This, according to the chain's speaker, was due to the difficulty of explaining the relationship between production certificates and the actual power drawn from the wall socket. The offers of various utilities and independent power producers are looked at and discussed with those responsible

  19. Transitional rates, risk and the Ontario wholesale power market

    International Nuclear Information System (INIS)

    Rothman, M.

    2001-01-01

    Navigant Consulting is a large investor-owned management consulting firm specializing in energy-based and other networked and regulated industries across Canada. The company works with clients to create delivery and protect shareholder value in the face of uncertainty and change. This presentation discussed the issue of price volatility in competitive electricity markets. The points to keep in mind for pricing in competitive power markets is that: (1) electricity should be generated simultaneously with use, (2) rates in administered markets are average over some time period, (3) competitive pool markets do not average costs, (4) in competitive pool markets, prices are set in very short (hourly or less) intervals, (5) prices in competitive markets are more volatile than in administered markets for both economic and market structure reasons, and (6) the degree of volatility and price levels can change quickly. The Ontario power market was also discussed with reference to price volatility in Ontario and what this means for electricity customers. tabs., figs

  20. Analysis of competitive power market with constant elasticity function

    International Nuclear Information System (INIS)

    Nguyen, D.H.M.; Wong, K.P.

    2003-01-01

    A solution method, for competitive power markets formulated as a Cournot game, that allows equilibrium to be determined without an explicit model of aggregated demand is presented. The method determines market equilibrium for all feasible demand conditions and thus provides a perspective on the market, independent of representative demand function, that reveals the inherent tendencies of producers in the market. Numerical solutions are determined by use of the new controlled genetic algorithm and constraint handling techniques. The solutions give production and demand elasticity distributions of the market at any feasible equilibrium price and volume. The solution distributions evaluated for the market with unspecified demand functions, were found to be consistent with previous results obtained from markets with specific demand functions. The ability of the new approach to all, and arbitrary, solutions allow specific markets to be examined, as well as very general observations to be made. Generally it was observed that: no inherent price constraint exists; price is more volatile for low volumes and high prices; market dominance and power are unaffected by price; and inelastic demand can give rise to equilibrium with lower price than responsive demand. (Author)

  1. Bidding strategy in pay-as-bid power markets

    International Nuclear Information System (INIS)

    Oloomi-Buygi, M.; Nazarian, H.

    2007-01-01

    Electricity markets around the world can be classified as pool-based electricity markets; pure bilateral contract markets; and hybrid markets. The bidding strategy has emerged as an important issue for producers in pool-based electricity markets. Power producers can use several approaches to develop bidding strategies that determine the optimal bid to maximize profit. The various approaches fall into 2 categories, notably forecasting market clearing prices, and estimating the behaviour of other competitors. This paper presented a simple and efficient approach for developing a bidding strategy in pay-as-bid electricity markets. It used the multiple step bid to estimate the optimal bid. One step was allocated to revenue earning while the other steps were allocated to information acquiring. Information acquiring steps obtain information from the market for estimating the optimal bid of the next day. The proposed method was used at a specified power generating unit operating in the Iranian electricity market. The study showed that the proposed bidding strategy can increase the total revenue of the unit by thirty nine per cent. 22 refs., 8 figs

  2. Agora Energiewende (2016). The power market pentagon. A pragmatic power market design for Europe's energy transition

    International Nuclear Information System (INIS)

    Buck, Matthias; Redl, Christian; Steigenberger, Markus; Graichen, Patrick

    2016-01-01

    As consequence of Europe's climate and energy agenda, the European Union will generate some 50 percent of its electricity from renewables by 2030. By 2050, the EU's power system will have to be completely carbon-free. Solar photovoltaics and wind power - driven by significant cost reductions - will almost certainly contribute the biggest share of the zero-carbon technologies. Given the specific characteristics of wind power and photovoltaics (intermittent generation, high capital costs, very low variable costs), they will fundamentally change both market operations and the market design framework. Decarbonisation rests on continuous investments in these technologies. Usually it is expected that the energy market will deliver these investments, in combination with the emissions trading system. But is this view, based on simple textbook economics, enough to enable the required investments under real world conditions? In this paper, we argue that this rather theoretical view to power market design is not the way forward. Instead, a more pragmatic approach is needed, that takes into account the complex practical, political, and economic challenges of the transition towards a carbon-free power system. Thus, we propose to think of the future European market design as a Power Market Pentagon.

  3. Agora Energiewende (2016). The power market pentagon. A pragmatic power market design for Europe's energy transition

    Energy Technology Data Exchange (ETDEWEB)

    Buck, Matthias; Redl, Christian; Steigenberger, Markus; Graichen, Patrick

    2016-04-15

    As consequence of Europe's climate and energy agenda, the European Union will generate some 50 percent of its electricity from renewables by 2030. By 2050, the EU's power system will have to be completely carbon-free. Solar photovoltaics and wind power - driven by significant cost reductions - will almost certainly contribute the biggest share of the zero-carbon technologies. Given the specific characteristics of wind power and photovoltaics (intermittent generation, high capital costs, very low variable costs), they will fundamentally change both market operations and the market design framework. Decarbonisation rests on continuous investments in these technologies. Usually it is expected that the energy market will deliver these investments, in combination with the emissions trading system. But is this view, based on simple textbook economics, enough to enable the required investments under real world conditions? In this paper, we argue that this rather theoretical view to power market design is not the way forward. Instead, a more pragmatic approach is needed, that takes into account the complex practical, political, and economic challenges of the transition towards a carbon-free power system. Thus, we propose to think of the future European market design as a Power Market Pentagon.

  4. The economic analysis of power market architectures: application to real-time market design

    International Nuclear Information System (INIS)

    Saguan, M.

    2007-04-01

    This work contributes to the economic analysis of power market architectures. A modular framework is used to separate problems of market design in different modules. The work's goal is to study real-time market design. A two-stage market equilibrium model is used to analyse the two main real-time designs: the 'market' and the 'mechanism' (with penalty). Numerical simulations show that design applied in real-time is not neutral vis-a-vis of energy markets sequence and the competition dynamic. Designs using penalty (mechanisms) cause distortions, inefficiencies and can create barriers to entry. The size of distortions is given by the temporal position of the gate that closure the forward markets. This model has also allowed us to show the key role of real-time integration between zones and the importance of good harmonization between real-time designs of each zone. (author)

  5. Optimal contracts for wind power producers in electricity markets

    KAUST Repository

    Bitar, E.; Giani, A.; Rajagopal, R.; Varagnolo, D.; Khargonekar, P.; Poolla, K.; Varaiya, P.

    2010-01-01

    This paper is focused on optimal contracts for an independent wind power producer in conventional electricity markets. Starting with a simple model of the uncertainty in the production of power from a wind turbine farm and a model for the electric

  6. The Nordic power market: Are there alternatives to expensive clearing?

    International Nuclear Information System (INIS)

    Nerdrum, Per Kaare; Poulsson, Christian

    2003-01-01

    The Enron scandal of 2002 has set focus on counter party risk in the Nordic power market and is an important cause of increased clearing of bilateral financial power contracts. The article discusses whether expensive clearing is always the best tool for dealing with counter party risk

  7. Monthly bulletin of electric power market - November 1988

    International Nuclear Information System (INIS)

    1988-01-01

    This bulletin deals with the brazilian electric power consumption in November 1988, containing data about the total consumption, the growth rates, the special tariffs and monthly evolution in each brazilian region. The economic indexes of industrial production, the market and the prices of electric power and petroleum products are also presented. (C.G.C.)

  8. Monthly bulletin of electric power market - July 1988

    International Nuclear Information System (INIS)

    1988-01-01

    This bulletin deals with the brazilian electric power consumption in July 1988, containing data about the total consumption, the growth rates, the special tariffs and monthly evolution in each brazilian region. The economic indexes of industrial production, the market and the prices of electric power and petroleum products are also presented. (C.G.C.)

  9. Monthly bulletin of electric power market - September 1988

    International Nuclear Information System (INIS)

    1988-01-01

    This bulletin deals with the brazilian electric power consumption in September 1988, containing data about the total consumption, the growth rates, the special tariffs and monthly evolution in each brazilian region. The economic indexes of industrial production, the market and the prices of electric power and petroleum products are also presented. (C.G.C.)

  10. Power market restructuring in Asia : Russia, China, India, and Japan

    International Nuclear Information System (INIS)

    Hammons, T.J.; Zhong, J.; Mukhopadhyay, S.; Kurihara, I.

    2008-01-01

    Many countries are now in the process of deregulating their power industries in order to promote growth and competitiveness. This paper discussed power market restructuring activities in Russia, China, India and Japan. Economic convergence points in Russian and Asian power markets were reviewed. The state of Russia and China's power industry after the implementation of recent power restructuring initiatives was discussed. Technical characteristics of the industries were evaluated, and market development plans were outlined. Regional electricity markets in Asia were discussed, as well as issues related to domestic and foreign investment. Institutional reforms were reviewed, and individual outlines of revisions for the power industries of the 4 countries were presented. The study demonstrated that structuring processes vary from country to country. Differences in restructuring patterns were attributed to economic differences; country-specific features established within the electric power industry; and attitudes towards deregulation. It was concluded that the reforms adopted by the countries will lead to the expansion of national electric power systems. 23 refs., 4 tabs., 6 figs

  11. Deregulation and competitive power markets -- Its impact on developing economies

    International Nuclear Information System (INIS)

    Saran, K.

    1998-01-01

    The aim of privatization in developed countries is to encourage competition in generation and supply of power whereas the focus of developing economies is to bridge the demand supply gap by addition of capacity. However, there needs to be a reconciliation between these two apparently having conflicting objectives even in case of developing economies. In competitive power markets it is necessary that rules of the game are identified in advance and followed uniformly by all players. Existence of a ''referee'' would be necessary to regulate the game so as to ensure fair play. The regulatory institution would serve this purpose and work as a stimulator to development of privatization and competitive power markets in developing economies. Consumer interests should be of upper-most priority in the mind while establishing power markets and regulatory institutions, particularly as market forces are unfavorable to consumer interests in power shortage conditions. As competition fosters, gradually market forces take over and the ''harsh'' regulator would convert itself to a ''silent vigil referee'' so as to ensure genuine competition. The debate of deregulation vs. regulation will continue but the show must go on for building of an increasingly sound, competitive and vibrant power sector in the interest of end use consumers. The planned and phased restructuring though a delayed process is a preferred process and India is fully determined to achieve this

  12. Selection of power market structure using the analytic hierarchy process

    International Nuclear Information System (INIS)

    Subhes Bhattacharyya; Prasanta Kumar Dey

    2003-01-01

    Selection of a power market structure from the available alternatives is an important activity within an overall power sector reform program. The evaluation criteria for selection are both subjective as well as objective in nature and the selection of alternatives is characterised by their conflicting nature. This study demonstrates a methodology for power market structure selection using the analytic hierarchy process, a multiple attribute decision- making technique, to model the selection methodology with the active participation of relevant stakeholders in a workshop environment. The methodology is applied to a hypothetical case of a State Electricity Board reform in India. (author)

  13. Green power marketing in Canada: the state of the industry

    International Nuclear Information System (INIS)

    Dogterom, J.J.; McCulloch, M.; Pape-Salmon, A.

    2002-12-01

    The introduction of low-impact renewable energy in Canada's electricity supply is being accomplished using a relatively new, market-based initiative called green power marketing. Consumers now have the option of choosing their electricity supplier in two provinces, as a result of electricity market restructuring in those provinces. In some jurisdictions, green power is being offered at a premium price. Green power options are also available in other jurisdictions through the existing vertically integrated power companies. Green power programs are available to residential and commercial sector consumers in Alberta by ENMAX Energy and EPCOR Energy Services Inc. Prince Edward Island (Maritime Electric Company Ltd.) and Saskatchewan (SaskPower) both offer green power programs. The basis for those programs is specific amounts of electricity purchased. The success of the various programs was examined by the Pembina Institute for Appropriate Development, based on installed capacity of green power, consumer enrolment, product design, and environmental benefits. This report presented the results of this evaluation. For the purpose of this report, only those programs in place by the end of 2001 were considered. The environmental impacts of new generation technologies that were implemented as a result of green power marketing programs were analyzed. Historical emission data of the primary generation sources was used as a basis for the investigation and the quantification of the benefits in each province, since different types of power generation are used in the provinces. Greenhouse gases, acid deposition precursors, ground-level ozone precursors, particulate matter, and carbon monoxide are the significant emissions avoided through the use of green power. Included in the emissions reduction analysis in each province considered were life cycle emissions from conventional power sources and green power sources. Alberta, Saskatchewan and Prince Edward Island were the provinces

  14. Forecasting day ahead electricity spot prices: The impact of the EXAA to other European electricity markets

    OpenAIRE

    Ziel, Florian; Steinert, Rick; Husmann, Sven

    2015-01-01

    In our paper we analyze the relationship between the day-ahead electricity price of the Energy Exchange Austria (EXAA) and other day-ahead electricity prices in Europe. We focus on markets, which settle their prices after the EXAA, which enables traders to include the EXAA price into their calculations. For each market we employ econometric models to incorporate the EXAA price and compare them with their counterparts without the price of the Austrian exchange. By employing a forecasting study...

  15. Engineering approach to model and compute electric power markets settlements

    International Nuclear Information System (INIS)

    Kumar, J.; Petrov, V.

    2006-01-01

    Back-office accounting settlement activities are an important part of market operations in Independent System Operator (ISO) organizations. A potential way to measure ISO market design correctness is to analyze how well market price signals create incentives or penalties for creating an efficient market to achieve market design goals. Market settlement rules are an important tool for implementing price signals which are fed back to participants via the settlement activities of the ISO. ISO's are currently faced with the challenge of high volumes of data resulting from the increasing size of markets and ever-changing market designs, as well as the growing complexity of wholesale energy settlement business rules. This paper analyzed the problem and presented a practical engineering solution using an approach based on mathematical formulation and modeling of large scale calculations. The paper also presented critical comments on various differences in settlement design approaches to electrical power market design, as well as further areas of development. The paper provided a brief introduction to the wholesale energy market settlement systems and discussed problem formulation. An actual settlement implementation framework and discussion of the results and conclusions were also presented. It was concluded that a proper engineering approach to this domain can yield satisfying results by formalizing wholesale energy settlements. Significant improvements were observed in the initial preparation phase, scoping and effort estimation, implementation and testing. 5 refs., 2 figs

  16. Nuclear power creates new possibilities for marketing

    International Nuclear Information System (INIS)

    Van Vuren, K.

    1978-01-01

    Irradiation of food presents various advantages over other forms of food sterilization and preservation: 1) food is disinfested of insects, microorganisms and parasites without harming the fooddstuff itself; 2) food is handled in its packaged form when irradiated; 3) the irradiation process is a 'cold' process, i.e. foodstuff need not undergo a rise in temperature; this prevents harming of the tissues; and 4) the storage life is increased, creating new possibilities for marketing and trade. A few experiments with vegetables, fruit and meat are described

  17. Unit commitment and investment valuation of flexible biogas plants in German power markets

    Energy Technology Data Exchange (ETDEWEB)

    Hochloff, Patrick

    2017-07-01

    Biogas plants contribute a significant share of renewable energy sources (RES) to the electricity system. Most of them are designed to supply constant power generation. In the future biogas plants will most likely become more flexible, scheduling their power generation with respect to market prices. For this purpose power units need extended electrical capacity to convert the continuously produced gas as well as the gas held in storage. When constructing extended capacity at biogas plants, the flexibility premium is the main focus for about 8000 plants which were constructed before August 2014. Additional incomes as a result of selling at higher market prices have been considered, too. However, their relationship to the electrical capacity and storage size of biogas plants was unknown as was the impact on investment valuation. This work has shown how biogas plants with extended capacity can be analyzed when they are operated in power markets, in particular the power spot market and the control reserve markets. Models on the basis of unit commitment have been developed in order to obtain optimized schedules and financial parameters, such as gross income and net present value (NPV), when biogas plants with extended capacity capitalize on prices in each market. The models developed consider several use cases that describe possible ways of participating in German power markets, switching between static and variable gas supply, providing secondary and tertiary control reserve, and claiming the market and flexibility premium. Mixed integer linear programs (MILP) have been developed for the unit commitment of each use case. The model for the unit commitment of providing control reserve with biogas plants made significant progress compared to the state of the art and has been published in (Hochloff, Braun 2014). There are two ways to make use of this model. First of all, the model could be applied to plan daily schedules for the operation of gas plants located at a gas

  18. Unit commitment and investment valuation of flexible biogas plants in German power markets

    International Nuclear Information System (INIS)

    Hochloff, Patrick

    2017-01-01

    Biogas plants contribute a significant share of renewable energy sources (RES) to the electricity system. Most of them are designed to supply constant power generation. In the future biogas plants will most likely become more flexible, scheduling their power generation with respect to market prices. For this purpose power units need extended electrical capacity to convert the continuously produced gas as well as the gas held in storage. When constructing extended capacity at biogas plants, the flexibility premium is the main focus for about 8000 plants which were constructed before August 2014. Additional incomes as a result of selling at higher market prices have been considered, too. However, their relationship to the electrical capacity and storage size of biogas plants was unknown as was the impact on investment valuation. This work has shown how biogas plants with extended capacity can be analyzed when they are operated in power markets, in particular the power spot market and the control reserve markets. Models on the basis of unit commitment have been developed in order to obtain optimized schedules and financial parameters, such as gross income and net present value (NPV), when biogas plants with extended capacity capitalize on prices in each market. The models developed consider several use cases that describe possible ways of participating in German power markets, switching between static and variable gas supply, providing secondary and tertiary control reserve, and claiming the market and flexibility premium. Mixed integer linear programs (MILP) have been developed for the unit commitment of each use case. The model for the unit commitment of providing control reserve with biogas plants made significant progress compared to the state of the art and has been published in (Hochloff, Braun 2014). There are two ways to make use of this model. First of all, the model could be applied to plan daily schedules for the operation of gas plants located at a gas

  19. 78 FR 56691 - Sapphire Power Marketing LLC; Supplemental Notice That Initial Market-Based Rate Filing Includes...

    Science.gov (United States)

    2013-09-13

    ... Power Marketing LLC; Supplemental Notice That Initial Market-Based Rate Filing Includes Request for... Sapphire Power Marketing LLC's application for market-based rate authority, with an accompanying rate... submission of protests and interventions in lieu of paper, using the FERC Online links at http://www.ferc.gov...

  20. 78 FR 4842 - Linden VFT, LLC v. Brookfield Energy Marketing, LP, Cargill Power Markets, LLC; Notice of Complaint

    Science.gov (United States)

    2013-01-23

    ... v. Brookfield Energy Marketing, LP, Cargill Power Markets, LLC; Notice of Complaint Take notice that... Brookfield Energy Marketing, LP and Cargill Power Markets, LLC (Respondents) alleging that, Respondents... subscribed docket(s). For assistance with any FERC Online service, please email [email protected

  1. Market Integration of Virtual Power Plants

    DEFF Research Database (Denmark)

    Petersen, Mette Kirschmeyer

    increasingly challenging due to the intrinsic variability of production technologies such as photovoltaics and wind turbines. In a Smart Grid system the balancing task will therefore be handled by mobilizing flexibility on the consumption side. This Thesis assumes that the Smart Grid should be commercially......Global efforts to reduce emissions of carbon dioxide drives the introduction of renewable power production technologies into the existing power system. The real-time balance between production and consumption must, however, still be maintained at all times. Unfortunately, this is becoming....... It does however significantly sharpen the discussion of the flexibility concept and provides a categorization of flexible systems. This Thesis also investigates what value can be created from the different types of flexibility by assuming that the Virtual Power Plant will generate profit by trading...

  2. Competitive power markets and grid reliability : keeping the promise

    International Nuclear Information System (INIS)

    Goulding, D.

    2005-01-01

    This white paper discussed various links between restructuring, competitive markets and reliability in the consolidation of electricity markets in Ontario. A historical approach was used, and the first section of the paper reviewed how reliability was managed in the pre-market period. The second section discussed the current reliability model and some of the general issues it has raised, as well as lessons learned. Structural reforms were reviewed. It was noted that currently dominant generators hold more market share than is compatible with ideas of workable competition. Issues concerning the mitigation of market power were discussed, with specific reference to the importance of public opinion. The need for mandatory standards and inclusive processes was emphasized, as well as the implementation of effective communication strategies and consumer education. A resource adequacy mechanism was recommended. The role of the Ontario Power Authority (OPA) was reviewed. Issues concerning consumer protection were examined. Future priorities included investment in infrastructure and reliability, as well as a realignment of markets. It was suggested that energy and reserve trading are critical for ensuring reliability in the market paradigm. Markets and inter-regional trading were discussed in terms of promoting reliability. Improvements in infrastructure were recommended, as well as a reduction in trade barriers. It was concluded that an over-arching, industry-wide commitment to investing in reliability is essential for managing the restructuring and reliability relationship in the years ahead. 15 refs

  3. Market designs for a completely renewable power sector

    Energy Technology Data Exchange (ETDEWEB)

    Winkler, Jenny [Fraunhofer-Institut fuer System- und Innovationsforschung (ISI), Karlsruhe (Germany); Altmann, Matthias [Ludwig-Boelkow-Systemtechnik GmbH, Ottobrunn (Germany)

    2012-06-15

    The article discusses whether the current German electricity market design is suitable for an electricity system completely based on renewable sources, and analyzes alternatives. Such a system becomes ever more likely due to the phase-out of nuclear power and the carbon reduction targets. Various existing scenarios for a completely renewable electricity system are analyzed and compared with respect to the contribution of different renewable technologies. Challenges for the market design arising from the differences between the current and a completely renewable system are identified - notably problems with cost recovery and investment incentives, an increased need for balancing and/or intraday adjustments, an increased diversity of actors, grid congestion and the continuing occurrence of market power. The current market design's ability to solve these issues is assessed with the result that all but the critical problem of investment incentives and cost recovery can be solved by adapting certain rules. A comparison with other suggested market designs reveals that some designs could ensure cost recovery and investment incentives. However, these market designs have other drawbacks. Therefore, the identification of the optimal market design for a completely renewable electricity system requires further research regarding the qualitative and quantitative effects of different changes to the current market design. The article concludes by developing concrete policy recommendations. (orig.)

  4. Market partner orientation in power grid operation; Marktpartnerorientierung im Netzbetrieb

    Energy Technology Data Exchange (ETDEWEB)

    Weiss, Claudia; Gebhardt, Andreas [Buelow und Consorten GmbH, Hamburg (Germany)

    2012-11-15

    Customer orientation is often neglected in power grid operation. Power grid owners have natural monopolies and defined territories and so far had little reason to consider their customers' needs. This is changing with changed boundary conditions. In the competition for concessions and customers for non-regulated services, those grid owners will prevail in the long run wo are aware of their market partners, their power and expectations, and wo are prepared to implement profit-oriented customer orientation measures. (orig.)

  5. Electric power distribution: in the direction of a competitive market?

    International Nuclear Information System (INIS)

    Souza, J.R.A. de.

    1993-01-01

    This paper discusses the process of electric power sector deregulation, occurred in several countries, frequently followed of privatization, which the aim is activate the competition and, consequently, the efficiency between the companies of the electric power sector. The competition in the supply market of electric power, by the Great Britain, France, Spain and United States are shown as an example of this energy policy. (C.G.C.)

  6. Optimal Wind Power Uncertainty Intervals for Electricity Market Operation

    Energy Technology Data Exchange (ETDEWEB)

    Wang, Ying; Zhou, Zhi; Botterud, Audun; Zhang, Kaifeng

    2018-01-01

    It is important to select an appropriate uncertainty level of the wind power forecast for power system scheduling and electricity market operation. Traditional methods hedge against a predefined level of wind power uncertainty, such as a specific confidence interval or uncertainty set, which leaves the questions of how to best select the appropriate uncertainty levels. To bridge this gap, this paper proposes a model to optimize the forecast uncertainty intervals of wind power for power system scheduling problems, with the aim of achieving the best trade-off between economics and reliability. Then we reformulate and linearize the models into a mixed integer linear programming (MILP) without strong assumptions on the shape of the probability distribution. In order to invest the impacts on cost, reliability, and prices in a electricity market, we apply the proposed model on a twosettlement electricity market based on a six-bus test system and on a power system representing the U.S. state of Illinois. The results show that the proposed method can not only help to balance the economics and reliability of the power system scheduling, but also help to stabilize the energy prices in electricity market operation.

  7. Geometry modeling of single track cladding deposited by high power diode laser with rectangular beam spot

    Science.gov (United States)

    Liu, Huaming; Qin, Xunpeng; Huang, Song; Hu, Zeqi; Ni, Mao

    2018-01-01

    This paper presents an investigation on the relationship between the process parameters and geometrical characteristics of the sectional profile for the single track cladding (STC) deposited by High Power Diode Laser (HPDL) with rectangle beam spot (RBS). To obtain the geometry parameters, namely cladding width Wc and height Hc of the sectional profile, a full factorial design (FFD) of experiment was used to conduct the experiments with a total of 27. The pre-placed powder technique has been employed during laser cladding. The influence of the process parameters including laser power, powder thickness and scanning speed on the Wc and Hc was analyzed in detail. A nonlinear fitting model was used to fit the relationship between the process parameters and geometry parameters. And a circular arc was adopted to describe the geometry profile of the cross-section of STC. The above models were confirmed by all the experiments. The results indicated that the geometrical characteristics of the sectional profile of STC can be described as the circular arc, and the other geometry parameters of the sectional profile can be calculated only using Wc and Hc. Meanwhile, the Wc and Hc can be predicted through the process parameters.

  8. Liberalization of power generation sector in the Croatian electricity market

    International Nuclear Information System (INIS)

    Viskovic, Alfredo

    2005-01-01

    The electricity market liberalization and the restructuring of power utilities eventually leads to the establishment of a single electricity market in Europe, which is especially important for efficiency gains in electricity generation coupled with increased security of supply, economic competitiveness and fulfillment of environmental requirements. The European electricity market Directives as well as the Energy Community Treaty for South East Europe (legislative Menu) have remarkable impact on the restructuring of the Croatian power sector and the development of electricity generation. The Croatian model of restructuring includes legal un bundling (in the ownership of one holding company - Hrvatska Elektroprivreda (HEP)). The operation of HEP Group and its subsidiaries in the conditions of partially opened electricity market in an important element that shapes the interactions of competitive activities and regulated activities in the environment influenced by exogenous factors a thirteen percent electricity are controlled by the Energy Market Operator (MO), the Transmission System Operator (TSO) and the Energy Regulatory Agency (CERA). The introduction of eligible procedures and newly created operative procedures for power system operation, are creating completely new conditions for competition in the power generation sector, where almost all power plants are owned by HEP. New generating capacities in Croatia can be built through tendering and licensing procedures carried out by the Regulator. Electricity prices are still regulated by the Government (below the cost reflective level), there is a small share of industrial consumers and the annual electricity production is 12 TWh, with relatively large share of hydro plants. All these have implications on the development of the power generation sector in Croatia as well as on electricity market operation. The subject matter of this paper is an impact of power system restructuring and electricity market opening on the

  9. Nash equilibrium strategy in the deregulated power industry and comparing its lost welfare with Iran wholesale electricity market

    Science.gov (United States)

    Mousavi, Seyed Hosein; Nazemi, Ali; Hafezalkotob, Ashkan

    2016-09-01

    With the increasing use of different types of auctions in market designing, modeling of participants' behaviors to evaluate the market structure is one of the main discussions in the studies related to the deregulated power industries. In this article, we apply an approach of the optimal bidding behavior to the Iran wholesale electricity market as a restructured electric power industry and model how the participants of the market bid in the spot electricity market. The problem is formulated analytically using the Nash equilibrium concept composed of large numbers of players having discrete and very large strategy spaces. Then, we compute and draw supply curve of the competitive market in which all generators' proposed prices are equal to their marginal costs and supply curve of the real market in which the pricing mechanism is pay-as-bid. We finally calculate the lost welfare or inefficiency of the Nash equilibrium and the real market by comparing their supply curves with the competitive curve. We examine 3 cases on November 24 (2 cases) and July 24 (1 case), 2012. It is observed that in the Nash equilibrium on November 24 and demand of 23,487 MW, there are 212 allowed plants for the first case (plants are allowed to choose any quantity of generation except one of them that should be equal to maximum Power) and the economic efficiency or social welfare of Nash equilibrium is 2.77 times as much as the real market. In addition, there are 184 allowed plants for the second case (plants should offer their maximum power with different prices) and the efficiency or social welfare of Nash equilibrium is 3.6 times as much as the real market. On July 24 and demand of 42,421 MW, all 370 plants should generate maximum energy due to the high electricity demand that the economic efficiency or social welfare of the Nash equilibrium is about 2 times as much as the real market.

  10. Evaluating transfer capability of economic-driven power markets

    DEFF Research Database (Denmark)

    Xu, Zhao

    2007-01-01

    in the present economic-driven electricity markets. A mathematical model of a multi-objective optimization (MOOP) technique has been adopted and presented here for transfer capability studies; which can be helpful for power system planning and operation procedures. The newly-developed algorithm is being tested......The on-going restructuring of electric power utilities poses great challenges for power system engineers to plan and operate power systems as economical and reliable as possible. This paper discusses an important issue, which has been usually neglected, when quantifying active power transfer levels...

  11. HANJUNG`s overseas marketing for power industry

    Energy Technology Data Exchange (ETDEWEB)

    Cho, B.K. [Korea Heavy Industries and Construction Co., Ltd., Hanjung (Korea, Democratic People`s Republic of)

    1994-12-31

    The Korean government has a strong policy for developing local industries for producing power plant facilities. Korea Heavy Industries and Construction Co. Ltd. (HANJUNG) is a prime contractor for the design, construction, and installation of power plant facilities. The following topics are discussed: history of the electric power in Korea, the fabrication and supply of power plants in Korea, changing factors of the power plant business around the world, HANJUNG`s overseas marketing strategy, and Korea-US cooperation in third world countries.

  12. Hydropower generation and storage, transmission constraints and market power

    International Nuclear Information System (INIS)

    Johnsen, T.A.

    2001-01-01

    We study hydropower generation and storage in the presence of uncertainty about future inflows, market power and limited transmission capacity to neighboring regions. Within our simple two-period model, market power leads to too little storage. The monopolist finds it profitable to produce more than the competitive amount in the first period and thereby stores little water in the first of two periods in order to become import constrained in the second period. In addition, little storage reduces the probability of becoming export constrained in the second period, even if the second period exhibits large inflow. Empirical findings for an area in the western part of Norway with only hydropower and high ownership concentration at the supply side, fit well to our theoretical model. We apply a numerical model to examine various policies to reduce the inefficiencies created by the local monopoly. Transmission investments have two effects. First, the export possibilities in the first period increase. More export leads to lower storage in the first period. Second, larger import capacity reduces the market power problem in the second period. The two opposite effects of transmission investments in a case with market power may be unique to hydropower systems. Introducing financial transmission rights enhance the market power of the monopolist in our model. Price caps in both or in the second period only, reduce the strategic value of water storage. (Author)

  13. 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).

  14. Canada in the world power market

    International Nuclear Information System (INIS)

    Anon.

    1981-01-01

    The role of Canadian exports in power projects and industrial development throughout the world is discussed in a series of regional articles. Interest in Canada's CANDU reactor system by Yugoslavia, Mexico and Japan is discussed along with progress being made with the CANDU project in Korea. Other technological projects for the Americas, Europe, Asia and Africa are also described. (T.I.)

  15. Canada in the world power market

    International Nuclear Information System (INIS)

    Maclean, Susan; Rogers, Bryan.

    1983-01-01

    Canadian power and industrial projects world-wide are highlighted in this annual feature. A short section on the CANDU Wolsung Reactor in the Republic of Korea mentions that it went critical in November 1982 after taking only 60 months to complete

  16. 76 FR 36914 - Astoria Generating Company, L.P., NRG Power Marketing LLC, Arthur Kill Power LLC, Astoria Gas...

    Science.gov (United States)

    2011-06-23

    ... Generating Company, L.P., NRG Power Marketing LLC, Arthur Kill Power LLC, Astoria Gas Turbine Power LLC... Power Marketing LLC, Arthur Kill Power LLC, Astoria Gas Turbine Power LLC, Dunkirk Power LLC, Huntley... when a document is added to a subscribed docket(s). For assistance with any FERC Online service, please...

  17. Development of a virtual power market model to investigate strategic and collusive behavior of market players

    International Nuclear Information System (INIS)

    Shafie-khah, Miadreza; Parsa Moghaddam, Mohsen; Sheikh-El-Eslami, Mohamad Kazem

    2013-01-01

    In this paper, a virtual power market model is proposed to investigate the behavior of power market players from regulator's point of view. In this approach, strategic players are modeled in a multi-agent environment. These agents which are virtual representative of actual players forecast the prices and participate in the markets, exactly the same as real world situation. In addition, the role of ISO is encountered by using security constraint unit commitment (SCUC) and security constraint economic dispatch (SCED) solutions. Moreover, the interaction between market players is modeled using a heuristic dynamic game theory algorithm based on the supply function equilibria (SFE). In addition to the collusive behavior, using the proposed model, the short-term strategic behavior of players, which their effects will appear in long-term, can be simulated. The proposed model enables the market regulators to make decision before implementing new market rules with the confidence of their results. To represent the effectiveness of the proposed method, a case study including wind power plants is considered and the impact of various market rules on players’ behavior is simulated and discussed. Numerical studies indicate that simulating the strategic and collusive behavior prior to any change in the market rules is necessary. - Highlights: • A virtual power market model is proposed using a heuristic dynamic game theory. • The proposed model can simulate the behavior of market players in a certain period. • This model can evaluate the oligopoly, collusive and strategic behavior of players. • The price uncertainty and security constraint are considered. • Neglecting strategic behavior of players can cause adverse consequences

  18. Probabilistic decision model of wind power investment and influence of green power market

    International Nuclear Information System (INIS)

    Gillenwater, Michael

    2013-01-01

    This paper presents results from a model of a representative wind power investor's decision making process using a Monte Carlo simulation of a project financial analysis. Data, in the form of probability distribution functions (PDFs) for key input variables were collected from interviews with investors and other professionals active in the U.S. wind power industry using a formal expert elicitation protocol. This study presents the first quantitative estimates of the effect of the U.S. voluntary Renewable Energy Certificate (REC) market on renewable energy generation. The results indicate that the investment decisions of wind power project developers in the United States are unlikely to have been altered by the voluntary REC market. The problem with the current voluntary REC market is that it does not offer developers a reliable risk-adjusted revenue stream. Consequently, the claims by U.S. green power retailers and promoters that voluntary market RECs result in additional wind power projects lack credibility. Even dramatic increases in voluntary market REC prices, in the absence of long-term contracts, were found to have only a small effect on investor behavior. - Highlights: • I use a formal expert elicitation to collect data from wind power investors. • I use a Monte Carlo model to look at the influence of Renewable Energy Certificates on investment. • Investment decisions are unlikely to have been altered by the voluntary REC market. • Claims that the U.S. green power market result in additional wind power lack credibility

  19. Stability of power systems coupled with market dynamics

    Science.gov (United States)

    Meng, Jianping

    This Ph.D. thesis presented here spans two relatively independent topics. The first part, Chapter 2 is self-contained, and is dedicated to studies of new algorithms for power system state estimation. The second part, encompassing the remaining chapters, is dedicated to stability analysis of power system coupled with market dynamics. The first part of this thesis presents improved Newton's methods employing efficient vectorized calculations of higher order derivatives in power system state estimation problems. The improved algorithms are proposed based on an exact Newton's method using the second order terms. By efficiently computing an exact gain matrix, combined with a special optimal multiplier method, the new algorithms show more reliable convergence compared with the existing methods of normal equations, orthogonal decomposition, and Hachtel's sparse tableau. Our methods are able to handle ill-conditioned problems, yet show minimal penalty in computational cost for well-conditioned cases. These claims are illustrated through the standard IEEE 118 and 300 bus test examples. The second part of the thesis focuses on stability analysis of market/power systems. The work presented is motivated by an emerging problem. As the frequency of market based dispatch updates increases, there will inevitably be interaction between the dynamics of markets determining the generator dispatch commands, and the physical response of generators and network interconnections, necessitating the development of stability analysis for such coupled systems. We begin with numeric tests using different market models, with detailed machine/exciter/turbine/governor dynamics, in the New England 39 bus test system. A progression of modeling refinements are introduced, including such non-ideal effects as time delays. Electricity market parameter identification algorithms are also studied based on real time data from the PJM electricity market. Finally our power market model is augmented by optimal

  20. Green power: A renewable energy resources marketing plan

    International Nuclear Information System (INIS)

    Barr, R.C.

    1997-01-01

    Green power is electricity generated from renewable energy sources such as power generated from the sun, the wind, the heat of the earth, and biomass. Green pricing is the marketing strategy to sell green power to customers who voluntarily pay a premium for it. Green pricing is evolving from the deregulation of the electric industry, the need for clean air, reflected in part as concern over global warming, and technology advances. The goal of the renewable energy marketing plan is to generate enough revenues for a utility to fund power purchase agreements (PPAs) with renewable energy developers or construct its own renewable facilities. Long-term, fixed price PPAs enable developers to obtain financing to construct new facilities, sometimes taking technological risks which a utility might not take otherwise. The marketing plan is built around different rate premiums for different categories of ratepayers, volunteer customer participation, customer participation recognition, and budget allocations between project costs and power marketing costs. Green prices are higher than those for conventional sources, particularly prices from natural gas fired plants. Natural gas is abundant relative to oil in price per British thermal unit (Btu). Green pricing can help bridge the gap between the current oversupply of gas and the time, not far off, when all petroleum prices will exceed those for renewable energy. The rapid implementation of green pricing is important. New marketing programs will bolster the growing demand for renewable energy evidenced in many national surveys thus decreasing the consumption of power now generated by burning hydrocarbons. This paper sets forth a framework to implement a green power marketing plan for renewable energy developers and utilities working together

  1. Volatility spillover from world oil spot markets to aggregate and electricity stock index returns in Turkey

    International Nuclear Information System (INIS)

    Soytas, Ugur; Oran, Adil

    2011-01-01

    This study examines the inter-temporal links between world oil prices, ISE 100 and ISE electricity index returns unadjusted and adjusted for market effects. The traditional approaches could not detect a causal relationship running from oil returns to any of the stock returns. However, when we examine the causality using Cheung-Ng approach we discover that world oil prices Granger cause electricity index and adjusted electricity index returns in variance, but not the aggregate market index returns. Hence, our results show that the Cheung-Ng procedure with the use of disaggregated stock index returns can uncover new information that went unnoticed with the traditional causality tests using aggregated market indices. (author)

  2. Market potential of IGCC for domestic power production

    International Nuclear Information System (INIS)

    Gray, D.; Tomlinson, G.; Hawk, E.; Maskew, J.

    1999-01-01

    Mitretek Systems and CONSOL Inc. have completed the first phase of a market potential study for Integrated Coal Gasification Combined Cycle (IGCC) domestic power production. The U. S. Department of Energy (DOE) funded this study. The objective of this study is to provide DOE with data to estimate the future domestic market potential of IGCC for electricity generation. Major drivers in this study are the state of technology development, feedstock costs, environmental control costs, demand growth, and dispatchability. This study examines IGCC potential for baseload power production in the Northeast U. S., an important market area by virtue of existing coal infrastructure and proximity to coal producing regions. IGCC market potential was examined for two levels of technology development as a function of natural gas price and carbon tax. This paper discusses the results of this study, including the levels of performance and cost necessary to insure competitiveness with natural gas combined cycle plants

  3. Including investment risk in large-scale power market models

    DEFF Research Database (Denmark)

    Lemming, Jørgen Kjærgaard; Meibom, P.

    2003-01-01

    Long-term energy market models can be used to examine investments in production technologies, however, with market liberalisation it is crucial that such models include investment risks and investor behaviour. This paper analyses how the effect of investment risk on production technology selection...... can be included in large-scale partial equilibrium models of the power market. The analyses are divided into a part about risk measures appropriate for power market investors and a more technical part about the combination of a risk-adjustment model and a partial-equilibrium model. To illustrate...... the analyses quantitatively, a framework based on an iterative interaction between the equilibrium model and a separate risk-adjustment module was constructed. To illustrate the features of the proposed modelling approach we examined how uncertainty in demand and variable costs affects the optimal choice...

  4. 18 CFR 284.505 - Market-based rates for storage providers without a market-power determination.

    Science.gov (United States)

    2010-04-01

    ... 18 Conservation of Power and Water Resources 1 2010-04-01 2010-04-01 false Market-based rates for storage providers without a market-power determination. 284.505 Section 284.505 Conservation of Power and... UNDER THE NATURAL GAS POLICY ACT OF 1978 AND RELATED AUTHORITIES Applications for Market-Based Rates for...

  5. The MiSPOT System: Personalized Publicity and Marketing over Interactive Digital TV

    Science.gov (United States)

    López-Nores, Martín; Pazos-Arias, José Juan; Blanco-Fernández, Yolanda; García-Duque, Jorge; Tubío-Pardavila, Ricardo; Rey-López, Marta

    The development of Interactive Digital TV bears a great potential for electronic commerce, which remains heavily underexploited to date. The early initiatives to harness these technologies rely on the advertising techniques traditionally employed by the television industry, which have proven deficiencies related to viewers' comfort, locality and targeting. Furthermore, out of dedicated channels, there are very few attempts to provide interactive commercial functionalities through the TV, for example to sell products or to hire services. This chapter presents an overview of a system called MiSPOT that introduces solutions to these problems in two levels: (i) to advertise items that match the preferences and needs of the viewers, without interfering with their enjoyment of the TV programs; and (ii) to assemble specialized interactive applications that provide them with tailor-made commercial functionalities. These solutions are grounded on techniques from the Semantic Web, and are valid for both domestic TV receivers and mobile ones.

  6. Design of a real time market for regulating power. FlexPower WP1 - Report 3

    Energy Technology Data Exchange (ETDEWEB)

    Bang, C.; Fock, F.; Togeby, M.

    2011-12-15

    The FlexPower project investigates the possibility of using broadcasted dynamic electricity prices as a simple and low cost means to activating a large number of flexible small-scale power units. The aim is to provide regulating power via an aggregated response from the numerous units on a volunteer basis. The power units could for example be electrical heating and cooling units, electrical vehicles, industrial demand and micro generation. Each power unit can have its own local controller and individual business model and objective function. The optimisation of the local controls may require forecasts of the services requested by the customer (such as heat for a house or charging power for an electrical vehicle) - in terms of quantity, timing and flexibility - and forecasts of the electricity prices. Based on international 'real-time' power market experiences, new dynamic FlexPower market mechanisms to perform regulating power are designed and tested via simulations, under laboratory conditions and in the field. A dedicated simulation tool is developed for this purpose. The FlexPower regulation can never be perfect, but is expected to be able to meet some of the present and future growing demand for regulating power. As a starting point, a 5-minute power price signal, based on the actual regulation power prices, is tested. WP1 addresses the following question: 1) How could a system with a one-way price be designed? How can the FlexPower mechanism be integrated into the present electricity market, including the market for regulating power? This report describes the FlexPower concept, and gives one suggestion as to how this new market could work. How this will affect the different stakeholders is discussed, and risks and opportunities in the new market are presented. (LN)

  7. Fuel cells make gains in power generation market

    International Nuclear Information System (INIS)

    Anon.

    1996-01-01

    The ultra-low emission, highly efficient natural gas-fueled fuel cell system is beginning to penetrate the electric power generation market in the US and abroad as the fuel cell industry lowers product costs. And, even as the current market continues to grow, fuel cell companies are developing new technology with even higher levels of energy efficiency. The paper discusses fuel cell efficiency, business opportunities, work to reduce costs, and evolving fuel cell technology

  8. Barriers to investment in emerging power markets

    Energy Technology Data Exchange (ETDEWEB)

    Beardsworth, Jr, J J [Hunton and Williams, Richmond, VA (United States)

    1994-12-31

    Investing in private power projects in developing countries is a very different issue from investment in the US or the UK. There are many investment barriers not present in developed nations. Firstly investment barriers need to be identified. Trouble may be encountered with legal authorization; the regulatory framework; government guarantees; fuel supply security; lender protection; labour laws and local commercial restrictions such as profits repatriation, currency convertibility, and taxes. Political barriers may also be encountered in the form of: government commitments and support; funding sources; political unrest; religion; and relationships with other countries. Investment barriers may be minimised by persuading the government to remove any legal barriers; the contract has then to be agreed. Factors in a successful contract include: power purchase agreements; fuel agreements; and implementation agreements. It is vital to have a source of information on local rules and customs, by working with local companies and employing local attorneys.

  9. Decision making in a competitive power system market

    International Nuclear Information System (INIS)

    Rodriguez, C.P.

    2004-01-01

    This study presents an innovative method for predicting energy prices for the Ontario electricity market using artificial intelligence such as neural networks, fuzzy logic and a combination of both. In particular, it presents a methodology to develop optimal bidding curves for a thermal power plant according to the degree of risk aversion based on a given forecasted market-clearing price and the expected system demand. The degree of risk varied according to participant's risk aversion or risk seeking. There is much desire to forecast market-clearing price because it is a relevant variable to find optimal bidding curves. This study also compared the new method with existing methods. Various factors that influence market-clearing prices were also examined with respect to Ontario's electricity market

  10. 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....

  11. 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

  12. Distributed power generation, a market assessment; Marktaspekte der verteilten Energieerzeugung

    Energy Technology Data Exchange (ETDEWEB)

    Weller, T.

    2001-03-01

    The article assesses in the light of current energy policy the development of distributed power generation in the future, and resulting impacts on the structure the deregulated power industry in Germany. The author defines the essential characteristics of distributed power generation as opposed to centralized power generation, explains the various existing and emerging power generation technologies, and discusses market penetration scenarios and marketing opportunities in the context of technological developments, environmental and energy efficiency aspects, and consumer attitudes. (orig./CB) [German] Der Artikel bietet wichtige Definitionen fuer eine zielfuehrende Diskussion ueber das gesamte Gebiet der verteilten und dezentralen Energieerzeugung. Er versucht, teilweise emotional besetzte Themen auf sachlich begruendbare Grundannahmen zurueckzufuehren und zieht erste Folgerungen fuer das Zusammenwirken von erneuerbaren Energien und verteilter Energieerzeugung. (orig./CB)

  13. Midwest gas and power markets, hubs, pipelines, and interconnects

    International Nuclear Information System (INIS)

    Wirick, J.

    2001-01-01

    The existing interstate pipelines and proposed pipeline projects for the Chicago hub area were illustrated. The presentation explained why energy suppliers in the current competitive market need to balance and manage energy and transportation services for gas-fired power generators in terms of hourly winter and summer peaking services. The new infrastructure of the energy market will include new pipelines, storage and balancing to meet the ever increasing power demand. One of the options to meet power demand is to increase natural gas supply, transportation, storage, and hourly balancing capabilities. Other options are to build nuclear or coal-fired power generating facilities, or to go with renewables such as solar and wind power. Energy conservation and the reduction of natural gas usage per capita is another option to eliminate blackouts. This presentation also addressed the role that local distribution companies (LDC) and unbundling will play in the choice of these options. tabs., figs

  14. Electricity market liberalisation in Europe. Who's got the power?

    International Nuclear Information System (INIS)

    Lise, W.; Linderhof, V.

    2004-10-01

    The European electricity market is in the middle of a transformation from monopolistic state-owned production and distribution to privatised markets, with various competing firms. The speed of privatisation differs widely across Europe from full trade of electricity at the wholesale market in Scandinavian countries, to partial trade on the wholesale market in The Netherlands and Germany, and no trade on the wholesale market in France and Belgium. Hence, the market and its rules are no longer fixed, and the electricity market is in the middle of a dynamic and complex process of change. This report discusses whether the liberalisation process can result in more efficient electricity production in Europe. In addition, the environmental impacts of the liberalisation process are studied. Efficiency of electricity production is analysed with a static computational game theoretic model, which compares strategic options of and interactions among energy suppliers. This model is calibrated to the European electricity market in eight countries, namely Belgium, Denmark, Finland, France, Germany, The Netherlands, Norway, and Sweden. In a liberalised market, large firms are most likely to behave strategically and exercise market power in order to maximise profits. As a result, wholesale prices might increase, partially or fully off-setting the purpose of liberalisation, namely to decrease wholesale prices. Also, a potential market leader may emerge, who by anticipating on the reaction of followers, could acquire higher profits by increasing production and market share. Finally, firms can also acquire passive ownership in other firms. Passive cross-border ownership can increase a firm's market power and profits, resulting in even higher wholesale prices. The environmental impacts of different scenarios of producer behaviour are ambiguous. Under full competition, greenhouse gas emissions decline compared to the initial situation, while acidification and smog formation increase. In

  15. A stochastic framework for clearing of reactive power market

    International Nuclear Information System (INIS)

    Amjady, N.; Rabiee, A.; Shayanfar, H.A.

    2010-01-01

    This paper presents a new stochastic framework for clearing of day-ahead reactive power market. The uncertainty of generating units in the form of system contingencies are considered in the reactive power market-clearing procedure by the stochastic model in two steps. The Monte-Carlo Simulation (MCS) is first used to generate random scenarios. Then, in the second step, the stochastic market-clearing procedure is implemented as a series of deterministic optimization problems (scenarios) including non-contingent scenario and different post-contingency states. In each of these deterministic optimization problems, the objective function is total payment function (TPF) of generators which refers to the payment paid to the generators for their reactive power compensation. The effectiveness of the proposed model is examined based on the IEEE 24-bus Reliability Test System (IEEE 24-bus RTS). (author)

  16. The reconfiguration perspectives of the French power market

    International Nuclear Information System (INIS)

    2004-11-01

    The French electric power market is now opened to competition to all non-residential users. Since June 2004, small companies, local authorities and professionals can freely select their power supplier. While eligibility remains optional, the conditions of the French market limits the penetration of newcomers. In addition to the dominating weight of the historical operator (Electricite de France - EdF), the present-day level of regulated prices discourage the consumers to use their eligibility. Despite these differences, EdF's challengers multiply the initiatives: acquisition of production means, aggressive commercial offer, sectoral and geographical targeting of clients etc, in order to gain market shares over the French territory. This study tackles the following questions: how to optimize one's sourcing; how to take market shares to the historical operator; how to structure the commercial offers; how to conciliate prices and competition; what will be the best commercialization circuits; what clients are to be targeted; what will be the impact of purchases grouping; what is the role of intermediaries and advisors; who will benefit of competition; what will be the consequences for EdF of the opening to competition. The study gives a complete overview of the French electric power market and of its perspectives. It includes an analysis of the strategic and commercial positioning of the main operators of the market. (J.S.)

  17. Grant places market power mitigation at top of the agenda

    International Nuclear Information System (INIS)

    1998-01-01

    In his address to the IPPSO Conference, John Grant, the Vice Chair of the Ontario Market Design Committee (MDC) reviewed the events leading up to the formation of the MDC, outlined the mandate of the Committee, and reviewed the various issues that they will be reporting on to the Ontario Minister of Energy before the end of 1998. In all, the MDC is expected to submit four quarterly progress reports. The first was submitted in March 1998. It focused on the structure and governance of the central market-management body, the independent Market Operator (IMO), the IMO's relationship to the Ontario Energy Board, and some guidelines for the design of the wholesale electricity market. The remaining three reports, prepared by the several subcommittees of the MDC, will deal with market power mitigation, wholesale and retail market design, the environment, and transmission and distribution. He identified mitigation of the market power of Ontario Hydro as the dominant generator as the major challenge facing the MDC. He explained that the MDC is looking at some measures to put in place before deregulation takes effect, as well as measures that may be introduced after, in response to problems as they arise

  18. Empirical assessment of market power in the Alberta wholesale electricity market

    International Nuclear Information System (INIS)

    Qu, F.

    2007-01-01

    In the 1990s, many countries began to unbundle regulated electricity monopolies into generation, transmission, distribution and retail companies. Transmission and distribution services remained regulated, but generation and retail services were open for competition. Wholesale and retail electricity markets were created. This paper presented a newly developed competitiveness index specifically for the Alberta market through a simple and standard economic approach. The Alberta Electric Utilities Act came into effect in January 1996. This paper described how the Alberta wholesale electricity market works and demonstrated how to model market power in the electricity market. In this study, power generating companies in Alberta were divided into 2 groups. The first group contained the 5 largest firms called strategic firms, while the other group contained the small generating companies called non-strategic firms or the competitive fringe. In the sample years 2003 and 2004, strategic firms withheld capacity when price was above marginal cost and behaved within the range of competitive pricing. They were more likely to price competitively than to use unilateral market power prices. In addition, firms had higher price-cost margins during the off-peak season. This paper explained in detail the reason for this unusual off-peak pattern. The index to measure a firm's strategic behaviour in the Alberta electricity market was developed according to price-cost margin data where firm-behaviour effect was distinguished from the demand-elasticity effect. It was concluded that policy-makers and regulations should consider the magnitude and source of market power when designing market structure, rules and trading practices. 9 refs., 5 tabs., 2 figs

  19. Merger market power analysis: Pacific Enterprises and Enova Corporation

    International Nuclear Information System (INIS)

    Bailey, S.

    1999-01-01

    The Pacific Enterprises - Enova (PE-Enova) merger may be viewed as an example of the new breed of gas and power 'convergence' mergers. The merger involved the combination of a large gas distribution utility and a contiguous gas and electric utility located in Southern California. As with most mergers, the PE-Enova merger was proposed to federal and state regulators as an opportunity to achieve ratepayer savings. However, the merger also presented an issue of vertical market power involving the substantial electric generation capacity served by Southern California Gas Company (SoCalGas) and its potential impact on electric market prices, and the associated revenues for generation assets owned by San Diego Gas and Electric (SDGandE). In order for the merger to proceed, the approval of at least five separate State and federal regulators would be required. Although much of the attention of state regulators, proponents, and intervenors surrounded the division of synergy savings between ratepayers and shareholders, the analysis of the potential for market power abuse was extensive. Intervenors presented numerous complex arguments regarding the potential adverse effects of the merger on competition. In particular, intervenors argued that the combined company would manipulate its storage and transport operations to influence the delivered price of gas to California generators, and therefore, the price of power in the wholesale electric market. The arguments surrounding the existence and impacts of market power in this case are of interest in the understanding the nature and complexity of factors that may be considered in evaluating mergers. The proceeding also provides insight into how regulators are grappling with market power issues associated with convergence mergers, and weigh merger costs and benefits

  20. Market assessment of photovoltaic power systems for agricultural applications worldwide

    Science.gov (United States)

    Cabraal, A.; Delasanta, D.; Rosen, J.; Nolfi, J.; Ulmer, R.

    1981-11-01

    Agricultural sector PV market assessments conducted in the Phillippines, Nigeria, Mexico, Morocco, and Colombia are extrapolated worldwide. The types of applications evaluated are those requiring less than 15 kW of power and operate in a stand alone mode. The major conclusions were as follows: PV will be competitive in applications requiring 2 to 3 kW of power prior to 1983; by 1986 PV system competitiveness will extend to applications requiring 4 to 6 kW of power, due to capital constraints, the private sector market may be restricted to applications requiring less than about 2 kW of power; the ultimate purchase of larger systems will be governments, either through direct purchase or loans from development banks. Though fragmented, a significant agriculture sector market for PV exists; however, the market for PV in telecommunications, signalling, rural services, and TV will be larger. Major market related factors influencing the potential for U.S. PV Sales are: lack of awareness; high first costs; shortage of long term capital; competition from German, French and Japanese companies who have government support; and low fuel prices in capital surplus countries. Strategies that may aid in overcoming some of these problems are: setting up of a trade association aimed at overcoming problems due to lack of awareness, innovative financing schemes such as lease arrangements, and designing products to match current user needs as opposed to attempting to change consumer behavior.

  1. Green Power Marketing in the United States. A Status Report (11th Edition)

    Energy Technology Data Exchange (ETDEWEB)

    Bird, Lori [National Renewable Energy Lab. (NREL), Golden, CO (United States); Kreycik, Claire [National Renewable Energy Lab. (NREL), Golden, CO (United States); Friedman, Barry [National Renewable Energy Lab. (NREL), Golden, CO (United States)

    2008-10-01

    This report documents green power marketing activities and trends in the United States. It presents aggregate green power sales data for all voluntary purchase markets across the United States. It also provides summary data on utility green pricing programs offered in regulated electricity markets and green power marketing activity in competitive electricity markets, as well as green power sold to voluntary purchasers in the form of renewable energy certificates. Key market trends and issues are also discussed.

  2. Green Power Marketing in the United States: A Status Report (11th Edition)

    Energy Technology Data Exchange (ETDEWEB)

    Bird, L.; Kreycik, C.; Friedman, B.

    2008-10-01

    This report documents green power marketing activities and trends in the United States. It presents aggregate green power sales data for all voluntary purchase markets across the United States. It also provides summary data on utility green pricing programs offered in regulated electricity markets and green power marketing activity in competitive electricity markets, as well as green power sold to voluntary purchasers in the form of renewable energy certificates. Key market trends and issues are also discussed.

  3. Prediction of hottest spot temperature in power transformer windings with non-directed and directed oil-forced cooling

    Energy Technology Data Exchange (ETDEWEB)

    Taghikhani, M.A.; Gholami, A. [Electrical Engineering Department, Iran University of Science and Technology (IUST), Narmak, 16846 Tehran (Iran)

    2009-09-15

    Power transformer outages have a considerable economic impact on the operation of an electrical network. One of the most important parameters governing transformer's life expectancy is the hottest spot temperature (HST) value. The classical approach has been to consider the hottest spot temperature as the sum of the ambient temperature, the top-oil temperature rise, and the hottest spot to top-oil temperature gradient. The authors proposed a numerical method based on heat transfer theory using the finite element method and they only needed to solve heat conduction equation. The transformer selected for simulation was a 32 MVA transformer with non-directed oil-forced (NDOF) cooling and directed oil-forced (DOF) cooling. A comparison of the authors results with those obtained from finite integral transform and experimental test confirms the validity and accuracy of the proposed method. (author)

  4. OPEC: Market failure or power failure?

    International Nuclear Information System (INIS)

    Cairns, Robert D.; Calfucura, Enrique

    2012-01-01

    The actions of OPEC and Saudi Arabia are discussed in terms of their objectives and their technical and social constraints. It is concluded (1) that OPEC does not act as a cartel and (2) that Hotelling’s rule is not an important feature of pricing or production. OPEC’s (more specifically, Saudi Arabia’s) ideal policy is to keep price moderate to try to assure a market for their high reserves over the long run. Such an action would require heavy investments in capacity, including in excess capacity, for times of interruption of supply from other countries as in the 1990s and for times of high demand as in the 2000s. The action may be inconsistent with other objectives and in any case may be too difficult to achieve. - Highlights: ► Hotelling models abstract from the essence of oil technology. ► Members of OPEC do not act as members of a classical cartel. ► Political–economic considerations influence objectives. ► The aim of Saudi Arabia, the price leader, is to keep price moderate. ► Supply was inelastic in the 2000s. Saudi investment was not adequate.

  5. Optimal contracts for wind power producers in electricity markets

    KAUST Repository

    Bitar, E.

    2010-12-01

    This paper is focused on optimal contracts for an independent wind power producer in conventional electricity markets. Starting with a simple model of the uncertainty in the production of power from a wind turbine farm and a model for the electric energy market, we derive analytical expressions for optimal contract size and corresponding expected optimal profit. We also address problems involving overproduction penalties, cost of reserves, and utility of additional sensor information. We obtain analytical expressions for marginal profits from investing in local generation and energy storage. ©2010 IEEE.

  6. Power engineering of Kazakhstan. Movement to the market

    International Nuclear Information System (INIS)

    Dukenbaev, K.D.

    1998-01-01

    In the book an optimal solution of problems on transition of current system of Kazakhstan power engineering management to free market relationships is made an attempt. In the work achievements of world power engineering system in introducing of International standards of generation and distribution of electric energy were taken into consideration. The book is intended to all levels managers of power engineering branch and it could be used in business circles having interest to capital investment to Kazakhstan power engineering as well as to students and postgraduates

  7. Economic market design and planning for electric power systems

    CERN Document Server

    Mili, Lamine

    2010-01-01

    Discover cutting-edge developments in electric power systems. Stemming from cutting-edge research and education activities in the field of electric power systems, this book brings together the knowledge of a panel of experts in economics, the social sciences, and electric power systems. In ten concise and comprehensible chapters, the book provides unprecedented coverage of the operation, control, planning, and design of electric power systems. It also discusses:. A framework for interdisciplinary research and education;. Modeling electricity markets;. Alternative economic criteria and proactiv.

  8. Market conditions for wind power and biofuel-based cogeneration

    International Nuclear Information System (INIS)

    1994-07-01

    The aim of this study is to analyze the prerequisites for biofuel-based cogeneration plants and for wind power, with special emphasis on following factors: 1/ The effect on the Swedish energy market of the opening of the power transmission networks for free competition within the electric power supply sector. 2/ A market model for the connection between the prices on fossil fuels, biomass fuels, electric power, and heating on the Swedish market. The analysis is made for three scenarios concerning carbon dioxide/energy taxation and the oil price development. The three scenarios are: A. Constant prices on heating oil and coal., B. An internationally uniform carbon dioxide tax, which successively is raised to SEK 0.40 per kilo carbon dioxide to the year 2010. In the year 2005 this will correspond to a doubling of the present prices on crude oil., C. An unilateral Swedish energy- and carbon dioxide tax of todays model (without exception for electric power generation), with constant import prices on heating oil and coal. The decisive factors for bio-cogeneration are construction- and operation costs, the costs of biofuels, and the sales price on electric power and heat. For wind power it is the construction- and operation costs that settle the conditions. 18 figs, 6 tabs

  9. Marketing implications of the shift in power of the hospital.

    Science.gov (United States)

    Rayburn, J M; Rayburn, L G

    1995-01-01

    With the introduction of the Prospective Payment System, hospital accountants' role changed from reimbursement maximizers to an important role in decision making. Faced with increased competition, hospitals are installing financial controls. Hospital marketers are also engaging in external promotional and health awareness campaigns and expanding their services to stabilize income and reduce the effects of a changing environment. Thus, hospitals operate in a more competitive environment with increasing uncertainty. When faced with uncertainty, organizations often believe that they must convince society that their existence is legitimate. Increasing specialization and organizational complexity in health care professions have made the expert important. Experts, such as the role assumed by hospital accountants and physicians, maintain power because the organization depends on them for their special skills and information. Marketing should also develop an internal marketing program to reach these power influencers. Scarce resource coupled with uncertainty move hospital accountants as experts into the power equation in the changing control of the U.S. healthcare system. Previously, the physician was the major source of hospital power. Since accountants often serve as monitors of scarce resources, information about the resource allocation directly affects the distribution of power. Marketers should acknowledge that this places hospital accountants in a critical role of assisting their institutions in adapting to a new environment.

  10. Strategic evaluation of bilateral contract for electricity retailer in restructured power market

    International Nuclear Information System (INIS)

    Karandikar, R.G.; Khaparde, S.A.; Kulkarni, S.V.

    2010-01-01

    In a competitive market scenario, consumers make payments for the consumption of electricity to retailers at fixed tariff. The retailers buy power at the Market Clearing Price (MCP) in spot market and/or through bilateral contract at agreed upon price. Due to these different modes at buying and selling ends, the retailers are faced with an involved task of estimating their payoffs along with the risk-quantification. The methodology presented in this paper gives a range of bilateral quantity and associated price for a retailer to ensure risk-constrained payoff. The exercise is carried out with a single retailer in the market as well as for a case of competition amongst two retailers. Risk is quantified using Risk Adjusted Recovery on Capital (RAROC). The problem is evaluated to get a range of bilateral quantity to be quoted for a particular bilateral price at fixed tariff of loyal load and fixed value of switching load. This summary combined with risk-averseness of the retailer leads him to make a judicial choice about bilateral transactions such that it leads to a risk-constrained payoff. (author)

  11. Market power across the Channel: Are Continental European gas markets isolated?

    International Nuclear Information System (INIS)

    Massol, Olivier; Banal-Estanol, Albert

    2014-01-01

    This paper examines the efficiency of the arbitrages performed between two regional markets for wholesale natural gas linked by a capacity-constrained pipeline system. We develop a switching regime specification to (i) detect if the observed spatial arbitrages satisfy the integration notion that all arbitrage opportunities between the two markets are being exploited, and (ii) decompose the observed spatial price differences into factors such as transportation costs, transportation bottlenecks, and the oligopolistic behavior of the arbitrageurs. Our framework incorporates a test for the presence of market power and it is thus able to distinguish between the physical and behavioral constraints to marginal cost pricing. We use the case of the 'Interconnector' pipeline as an application, linking Belgium and the UK. Our empirical findings show that all the arbitrage opportunities between the two zones are being exploited but confirm the presence of market power. (authors)

  12. 76 FR 36910 - Astoria Generating Company, L.P., NRG Power Marketing LLC, Arthur Kill Power LLC, Astoria Gas...

    Science.gov (United States)

    2011-06-23

    ... Generating Company, L.P., NRG Power Marketing LLC, Arthur Kill Power LLC, Astoria Gas Turbine Power LLC... Generating Company, L.P., NRG Power Marketing LLC, Arthur Kill Power LLC, Astoria Gas Turbine Power [[Page... subscribed docket(s). For assistance with any FERC Online service, please e-mail [email protected

  13. 76 FR 34692 - Astoria Generating Company, L.P., NRG Power Marketing LLC, Arthur Kill Power LLC, Astoria Gas...

    Science.gov (United States)

    2011-06-14

    ... Generating Company, L.P., NRG Power Marketing LLC, Arthur Kill Power LLC, Astoria Gas Turbine Power LLC... Generating Company, L.P., NRG Power Marketing LLC, Arthur Kill Power LLC, Astoria Gas Turbine Power LLC... notification when a document is added to a subscribed docket(s). For assistance with any FERC Online service...

  14. SpotADAPT

    DEFF Research Database (Denmark)

    Kaulakiene, Dalia; Thomsen, Christian; Pedersen, Torben Bach

    2015-01-01

    by Amazon Web Services (AWS). The users aiming for the spot market are presented with many instance types placed in multiple datacenters in the world, and thus it is difficult to choose the optimal deployment. In this paper, we propose the framework SpotADAPT (Spot-Aware (re-)Deployment of Analytical...... of typical analytical workloads and real spot price traces. SpotADAPT's suggested deployments are comparable to the theoretically optimal ones, and in particular, it shows good cost benefits for the budget optimization -- on average SpotADAPT is at most 0.3% more expensive than the theoretically optimal...

  15. Security of supply in competitive electricity markets: The Nordic power market

    International Nuclear Information System (INIS)

    Singh, Balbir

    2004-01-01

    It is well known that in the absence of a complete set of markets or under conditions of monopoly and imperfect competition, optimal provision of quality can not be taken for granted. Market set in the restructured electricity markets is not complete, physical networks per definition are natural monopolies, market-power issues are yet to be resolved, not all the services supplied through the restructured frameworks are private goods and risk of government intervention is high during the times when market prices signal shortages. Sole reliance on the energy-only markets for optimal provision of security of supply under such conditions is mistaken. On the other hand, centralization of decisions for provision of reserve capacity, such as the gas-reserve capacity proposal in the Norwegian system is not an efficient substitute for missing or imperfect markets. The solution lies in the design of permanent market-mechanisms that enhance the ability of energy-only markets to handle the medium and long-term security of supply. A carefully designed reserve energy certificates mechanism is a viable alternative in this context. (Author)

  16. Development of Power Market in India—Opportunities and Challenges

    DEFF Research Database (Denmark)

    Painuly, Jyoti P.; Banerjee, Rahul

    2015-01-01

    Electricity market in India has come a long way since its nascent origin in circa 1999. Electricity trading began through inter-regional bulk power transfer from the surplus region in eastern India to deficit regions in western India in 1999. This has led to the emergence of electricity traders......, who have helped in optimizing generation asset across the country, and acted as counter-parties to trades and helped absorb the credit risk of distribution companies (DISCOMS), which were in poor financial health. Subsequently, as trade volume picked up, power exchanges with standard contracts were...... introduced in July 2008. Power exchanges are electronic platforms where anonymous price discovery happens based on supply and demand for power in the short term. The short-term electricity trade has reached 7.58 billion units (9.84 % of total generation) in March 2012 with a market size of approximately US...

  17. Switzerland - its position within a liberalised European power market

    International Nuclear Information System (INIS)

    Kiener, E.

    2005-01-01

    This article takes a look at the situation in Switzerland shortly before parliamentary discussions on the liberalisation of Switzerland's electricity market. In particular the interconnection of Switzerland's electricity supply system with that of the rest of Europe is discussed. The power black-out that occurred in Italy in September 2003 is looked at. In particular, its relevance to power supply infrastructures is discussed and the fast-changing international configurations that are resulting from the liberalisation of electricity markets are looked at. Questions of international power transfer capacities and their allocation are looked at in detail in the light of the occurrences in 2003. The lessons that must be learned from the blackout are discussed and Switzerland's geographical position as an important hub of the European power transfer system are considered

  18. Basic Studies on Chaotic Characteristics of Electric Power Market Price

    Science.gov (United States)

    Takeuchi, Yuya; Miyauchi, Hajime; Kita, Toshihiro

    Recently, deregulation and reform of electric power utilities have been progressing in many parts of the world. In Japan, partial deregulation has been started from generation sector since 1995 and partial deregulation of retail sector is executed through twice law revisions. Through the deregulation, because electric power is traded in the market and its price is always fluctuated, it is important for the electric power business to analyze and predict the price. Although the price data of the electric power market is time series data, it is not always proper to analyze by the linear model such as ARMA because the price sometimes changes suddenly. Therefore, in this paper, we apply the methods of chaotic time series analysis, one of non-linear analysis methods, and investigate the chaotic characteristics of the system price of JEPX.

  19. Transmission rights and market power on electric power networks. 2. Physical rights

    International Nuclear Information System (INIS)

    Joskow, Paul; Tirole, Jean

    1999-01-01

    This discussion paper examines physical transmission rights where the capacity of each potentially congested interface is defined and the rights to use the congested interfaces are created and allocated in some way for suppliers and consumers. The way in which the allocation of physical rights affects competition or increases the buyers or sellers market power in the power generation market when a transmission interface is congested, and how rights markets with different microstructures allocate physical rights and determine rights prices are explored. An electricity market with physical transmission rights in the absence of capacity release rules, and physical transmission rights and market power are addressed. Loop flows, and capacity release rules are discussed. (UK)

  20. Utilization of power customers in the end user market. Analysis of the competitive relationship between the Norwegian power contracts; Utnytting av kraftkundar i sluttbrukarmarknaden. Analyser av konkurransetilhoevet mellom norske kraftavtaler

    Energy Technology Data Exchange (ETDEWEB)

    Sunde, Bjarne Bjoerkavaag

    2011-07-01

    This study deals with the competitive relationship between the Norwegian power agreements in end user markets. As expected we find clear evidence of an exploitation of locked-in customers through expensive standard variable rate agreements. One also find evidence that the extent of this utilization have increased after power providers began to use price discrimination of customers more actively. Vendors say the exploitation of locked-in customers have held out for and utilization is often seen as the biggest problem for the market. In time to come, it is not however given that exploitation of locked-customers, through expensive standard variable rate agreements, will continue to be the biggest problem with the market. Today, 60% of households are connected to the spot price contract, and such a percentage would indicate less use of customers. Electricity suppliers uses hand spot agreements without notification to exploit uncertainty customers have about competitive premiums. Agreements without notification will not be registered in this summary power to the Competition Authority and the agreements are therefore difficult to compare for customers. Today, over half of the spot price agreements without notification, and power providers achieve much greater profit on these agreements than the spot price agreements with notification.(eb)