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

Energy Technology Data Exchange (ETDEWEB)

Rios, J. L.

2010-07-01

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

The role of vibrant retail electricity markets in assuring that wholesale power markets operate effectively

International Nuclear Information System (INIS)

Goulding, A.J.; Rufin, C.; Swinand, G.

1999-01-01

Barriers to competitive supplier entry such as California's wholesale-price pass-through model can provide an almost insurmountable barrier to effective retail competition. The telecommunications, airline, and software industries provide lessons--positive and negative--on how creating competitive wholesale markets is insufficient to bring the benefits of competition to smaller consumers

The role of vibrant retail electricity markets in assuring that wholesale power markets operate effectively

Energy Technology Data Exchange (ETDEWEB)

Goulding, A.J.; Rufin, C.; Swinand, G.

1999-12-01

Barriers to competitive supplier entry such as California's wholesale-price pass-through model can provide an almost insurmountable barrier to effective retail competition. The telecommunications, airline, and software industries provide lessons--positive and negative--on how creating competitive wholesale markets is insufficient to bring the benefits of competition to smaller consumers.

Wholesale gas market indicators - December 2013

International Nuclear Information System (INIS)

2013-12-01

The wholesale gas market indicators publication aims to provide general monitoring indicators about: wholesale gas prices, gas trade between France and neighboring countries, infrastructures availability and utilisation

Wholesale gas market indicators - September 2013

International Nuclear Information System (INIS)

2013-09-01

The wholesale gas market indicators publication aims to provide general monitoring indicators about: wholesale gas prices, gas trade between France and neighboring countries, infrastructures availability and utilisation

Demographic Characteristics Related To Wholesale Marketing Of ...

African Journals Online (AJOL)

Demographic Characteristics Related To Wholesale Marketing Of Yam In Delta State, Nigeria. ... analysis reveals that wholesale yam marketing in the study area was male - dominated (78.8%), most of ... EMAIL FULL TEXT EMAIL FULL TEXT

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

French wholesale electricity and gas markets in 2007. Monitoring report

International Nuclear Information System (INIS)

2008-12-01

Settled on 24 March 2000, the French Energy Regulatory Commission (CRE) is an independent authority. CRE supports an efficient functioning of the electricity and natural gas markets, to the advantage of final consumers. CRE ensures the absence of any discrimination, cross subsidy or obstacle to competition. CRE has examined the functioning of the wholesale markets for electricity and gas for the year 2007. The report discloses the results of a first set of analyses, as well as the next actions to be conducted in order to explain some observed behaviour. On the basis of analyses led on the electricity market, CRE observes that nuclear generation was marginal during 15% of the hours in 2007. Hydraulic generation was marginal during 25% of the hours, coal generation during 25% to 30% of the hours and oil generation during less than 2% of the hours in 2007. Finally, prices on the border markets were of high importance on the French prices which they determined during 20% to 25% of the hours of the year. On an efficient market, the price is driven by the marginal power plant among all those which contribute to satisfy the demand. Therefore the wholesale price formation is conditioned by the frequency of marginality of each generation sector and by the associated valuation of production. On the day-ahead market, when nuclear or hydraulic generation was marginal, the day-ahead price reflected the associated valuation which was decided by EDF. The level of this valuation was generally higher than the marginal generation cost of these plants. As a matter of fact, a producer, even market dominant, may legitimately seek to optimise its income, provided that there is no abuse of a dominant position or any price manipulation. Consequently, at this stage, the relevance of the valuation method for nuclear and hydraulic generation on the wholesale market is still to be checked. CRE has also demonstrated that generation transparency, even if it gradually increased, still needs to

Comparative analysis of wholesale and retail frozen fish marketing ...

African Journals Online (AJOL)

Comparative analysis of wholesale and retail frozen fish marketing in Port Harcourt Metropolis, Rivers State, Nigeria. ... from each market giving 30 retail marketers and 30 wholesale marketers. ... EMAIL FULL TEXT EMAIL FULL TEXT

Surveillance report 2015-2016. Functioning of the wholesale electricity, CO_2 and natural gas markets

International Nuclear Information System (INIS)

2016-01-01

After a presentation of some key figures regarding the electric power and natural gas markets, this reports, illustrated by many data tables, discusses the integration of wholesale market surveillance in the European system: a complete and operational framework, constitution of a European register of participants, data reporting at the European level, link with financial regulation, and surveillance of wholesale agents. In the second part, it gives an overview of the context of the energy markets: drop in raw material prices, temperatures above normal with a particularly mild winter, sharp drop in the price of emission allowances. The third section proposes an analysis of wholesale electricity markets: fundamentals (evolutions of production and consumption, of production sources, D-7 nuclear availability), wholesale prices, major growth in exchanged volumes. The last section addresses wholesale natural gas markets: review of the gas system (evolution of demand and supply), evolution of gas prices, evolution of trading (global deliveries, spot and forward market)

Market Monitor, development of the wholesale trade market of electricity 2006. Results

International Nuclear Information System (INIS)

Vermeulen, M.; Mulder, M.; Van den Reek, W.; Thomeer, G.; De Kleijn, M.

2007-12-01

The Office of Energy Regulation carries out its legal task by means of a monitor, a practical tool to assess and analyze the wholesale market for electricity. Monitoring of the wholesale electricity market concerns continuous, accurate and structured following of developments in the market. The aim is to identify in time signals from the market that could lead to a decrease of competition and transparency. The starting point of the monitor for the wholesale electricity market is the selection of indicators which give insight in real competition, liquidity and transparency [nl

Wholesale gas market indicators - 4. Quarter 2012

International Nuclear Information System (INIS)

2013-01-01

The wholesale gas market indicators publication aims to provide general monitoring indicators about: wholesale gas prices, gas trade between France and neighboring countries, infrastructures availability and utilisation

Market structure and price adjustment in the U.S. wholesale gasoline markets

International Nuclear Information System (INIS)

Oladunjoye, Olusegun

2008-01-01

The issue of sticky prices in U.S. wholesale gasoline market is re-examined allowing for the effect of market structure due to increased market concentration caused by mergers, acquisitions and joint ventures which started in the late 1990s in the U.S. oil industry. I investigate the effects of market structure on the pattern of price adjustment based on the notion that increased market concentration leads to downward price stickiness and asymmetric short run price adjustment in the transmission of crude price changes to wholesale gasoline price. I find that market concentration has an insignificant asymmetric effect on the speed of price adjustment but a significant asymmetric effect on short run price adjustments in the response of wholesale gasoline prices to crude price shocks in three U.S. wholesale markets. Furthermore, the signs on the coefficients of market concentration effects on price dynamics in the models support the assertion that increased market concentration leads to downward price stickiness in only one of the three markets examined. Overall, the results indicate that market structure does not have a strong effect on the dynamics of price adjustment. (author)

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

Essays on wholesale auctions in deregulated electricity markets

Science.gov (United States)

Baltaduonis, Rimvydas

2007-12-01

The early experience in the restructured electric power markets raised several issues, including price spikes, inefficiency, security, and the overall relationship of market clearing prices to generation costs. Unsatisfactory outcomes in these markets are thought to have resulted in part from strategic generator behaviors encouraged by inappropriate market design features. In this dissertation, I examine the performance of three auction mechanisms for wholesale power markets - Offer Cost Minimization auction, Payment Cost Minimization auction and Simple-Offer auction - when electricity suppliers act strategically. A Payment Cost Minimization auction has been proposed as an alternative to the traditional Offer Cost Minimization auction with the intention to solve the problem of inflated wholesale electricity prices. Efficiency concerns for this proposal were voiced due to insights predicated on the assumption of true production cost revelation. Using a game theoretic approach and an experimental method, I compare the two auctions, strictly controlling for the level of unilateral market power. A specific feature of these complex-offer auctions is that the sellers submit not only the quantities and the minimum prices that they are willing to sell at, but also the start-up fees, which are designed to reimburse the fixed start-up costs of the generation plants. I find that the complex structure of the offers leaves considerable room for strategic behavior, which consequently leads to anti-competitive and inefficient market outcomes. In the last chapter of my dissertation, I use laboratory experiments to contrast the performance of two complex-offer auctions against the performance of a simple-offer auction, in which the sellers have to recover all their generation costs - fixed and variable - through a uniform market-clearing price. I find that a simple-offer auction significantly reduces consumer prices and lowers price volatility. It mitigates anti-competitive effects

Optimization of Combine Heat and Power Plants in the Russian Wholesale Power Market Conditions

Directory of Open Access Journals (Sweden)

I. A. Chuchueva

2015-01-01

Full Text Available The paper concerns the relevant problem to optimize the combine heat and power (CHP plants in the Russian wholesale power market conditions. Since 1975 the CHP plants specialists faced the problem of fuel rate or fuel cost reduction while ensuring the fixed level of heat and power production. The optimality criterion was the fuel rate or fuel cost which has to be minimized. Produced heat and power was paid by known tariff. Since the power market started in 2006 the power payment scheme has essentially changed: produced power is paid by market price. In such condition a new optimality criterion the paper offers is a profit which has to be maximized for the given time horizon. Depending on the optimization horizon the paper suggests four types of the problem urgency, namely: long-term, mid-term, short-term, and operative optimization. It clearly shows that the previous problem of fuel cost minimization is a special case of profit maximization problem. To bring the problem to the mixed-integer linear programming problem a new linear characteristic curves of steam and gas turbine are introduced. Error of linearization is 0.6%. The formal statement of the problem of short-term CHP plants optimization in the market conditions is offered. The problem was solved with IRM software (OpenLinkInternational for seven power plants of JSC “Quadra”: Dyagilevskaya CHP, Kurskaya CHP-1, Lipetskaya CHP-2, Orlovskaya CHP, Kurskaya CHP NWR, Tambovskaya CHP, and Smolenskaya CHP-2.The conducted computational experiment showed that a potential profit is between 1.7% and 4.7% of the fuel cost of different CHP plants and depends on the power plant operation conditions. The potential profit value is 2–3 times higher than analogous estimations, which were obtained solving fuel cost minimization problem. The perspectives of the work are formalization of mid-term and long-term CHP plants optimization problem and development of domestic software for the new problem

The surveillance of the electricity wholesale market and emission trading market

International Nuclear Information System (INIS)

Luedemann, Volker

2015-01-01

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

Overview of Wholesale Electricity Markets

Energy Technology Data Exchange (ETDEWEB)

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

2018-02-15

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

Modeling prices of wholesale market of electric energy and power by the example of the UPS of the Ural

Directory of Open Access Journals (Sweden)

Mokhov V.G.

2017-01-01

Full Text Available The article oversees forecasting model for deviations of the balancing market index and day-ahead market index according to the maximum similarity sample for different levels of approximation in the context of positive and negative time-series value. The model was being tested on the factual data of the Integrated Power system of the Ural, Wholesale market for electricity and power of Russian Federation. Describes the price formation on the day-ahead market and the balancing market index. The necessity to use accurate forecasting methods consumption and prices of electrical energy and power to reduce penalties when the electric power industry entities on the energy exchange. The testing of mathematical models to predict the balancing market index deviations and day-ahead market based on a sample of maximum similarity with certain approximation equations for positive and negative values gave the prediction error of 3.3%.

Understanding the Benefits of Dispersed Grid-Connected Photovoltaics: From Avoiding the Next Major Outage to Taming Wholesale Power Markets

International Nuclear Information System (INIS)

Letendre, Steven E.; Perez, Richard

2006-01-01

Thanks to new solar resource assessment techniques using cloud cover data available from geostationary satellites, it is apparent that grid-connected PV installations can serve to enhance electric grid reliability, preventing or hastening recovery from major power outages and serving to mitigate extreme price spikes in wholesale energy markets. (author)

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

International Nuclear Information System (INIS)

Konar, Selma

2015-01-01

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

Evaluation on Core Competitiveness of Wholesale Market of Agricultural Products Based on CWAA Operator

Institute of Scientific and Technical Information of China (English)

2011-01-01

According to relevant data,we select five indices,namely management ability,organization and management capability,enterprise culture,development ability and technical equipment ability,to establish the index system of core competitiveness of wholesale market of agricultural products.Based on combination weight arithmetic average(CWAA) operator,we advance an evaluation model of core competitiveness of wholesale market of agricultural products which involves participation of many people.By inviting five exerts,we conduct evaluation in terms of management ability of wholesale market of agricultural products,organization and management capability of leadership,enterprise culture of wholesale market of agricultural products,future development ability of wholesale market of agricultural products,and exiting technical equipment ability of wholesale market of agricultural products.We adopt hundred-mark system to grade and evaluate core competitiveness of wholesale market of agricultural products.The results show that the experts’ evaluation score of core competitiveness of wholesale market of agricultural products is high.The evaluation result is reasonable and authentic and this model is feasible.

The role of emission permits and the uncertainty of a market power on the wholesale electricity markets. The capacity retention strategy

International Nuclear Information System (INIS)

Rousse, O.

2008-01-01

The wholesale electricity markets are theoretically inherently incomplete and imperfectly competitive. This aspect is confirmed by the various empirical demonstrations of horizontal market power exercising by the capacity retention strategy. In this article, we focus on the impact of implementing an emission permit market for this type of strategy. We show that under some circumstances, the existence of emission permits can provide additional incentives to electricity producers wanting to withhold capacity. Our thinking relies partly on the concept that uncertain of prices and future needs in terms of emission permits, firms can be encouraged to retain more permits in their portfolio to ensure additional flexibility and achieve high profits in the future. (author)

PRICE-RESPONSE ASYMMETRY IN DOMESTIC WHOLESALE AND RETAIL DIESEL 2 MARKETS IN PERU

OpenAIRE

Arturo Vasquez Cordano

2005-01-01

This paper tests and confirms the hypothesis that retail and wholesale Diesel 2 prices respond more quickly to increases than to decreases in wholesale and crude oil prices, respectively. Among the possible sources of this asymmetry, we find: production / inventory adjustment lags, refining adjustments, market power of some sellers, searching costs, among others. By analyzing price transmission at different points of the distribution chain, this paper attempts to shed light on these theories ...

Evolution of Wholesale Electricity Market Design with Increasing Levels of Renewable Generation

Energy Technology Data Exchange (ETDEWEB)

Ela, E.; Milligan, M.; Bloom, A.; Botterud, A.; Townsend, A.; Levin, T.

2014-09-01

Variable generation such as wind and photovoltaic solar power has increased substantially in recent years. Variable generation has unique characteristics compared to the traditional technologies that supply energy in the wholesale electricity markets. These characteristics create unique challenges in planning and operating the power system, and they can also influence the performance and outcomes from electricity markets. This report focuses on two particular issues related to market design: revenue sufficiency for long-term reliability and incentivizing flexibility in short-term operations. The report provides an overview of current design and some designs that have been proposed by industry or researchers.

Economics Of Wholesale Marketing Of Tomato Fruits In Ibadan ...

African Journals Online (AJOL)

Economics Of Wholesale Marketing Of Tomato Fruits In Ibadan Metropolis Of Oyo State, Nigeria. ... fruits, determining marketing efficiency, margin and marketing costs associated with tomato marketing. ... EMAIL FULL TEXT EMAIL FULL TEXT

Functioning of the wholesale electricity, CO2 and natural gas markets - 2013-2014 Report

International Nuclear Information System (INIS)

Monteil, Anne; Casadei, Cecile

2014-11-01

The Energy Regulatory Commission (CRE) monitors transactions by participants on the French wholesale electricity and gas markets since 2006 and it monitors CO 2 trading since late 2010 in cooperation with the AMF. This power is granted by Articles L. 131-2 and L. 131-3 of the Energy Code. Therefore, in the context of its monitoring mission, CRE ensures that wholesale energy market prices are consistent with the technical and economic fundamentals of these markets. In particular, CRE strives to verify that no market power is exercised in such a way that a participant abuses its situation to attain abnormal prices, notably with regard to its costs. This mission is now also part of the European Regulation on Energy Market Integrity and Transparency of 25 October 2011 (REMIT). The REMIT organises wholesale energy market monitoring, prohibits market abuse (insider trading and market manipulation), and requires market participants to disclose any inside information they hold. It entrusts market monitoring, at European level, to the Agency for the Cooperation of Energy Regulators (ACER) in cooperation with national regulatory authorities responsible for national investigations and sanctions. The French law of 15 April 2013 on the transition towards green growth expressly entrusted CRE with the mission of ensuring REMIT implementation and CoRDiS jurisdiction to sanction any breaches of the regulation. The present report reviews the development of wholesale markets over the course of 2013 and the first half of 2014. It also presents detailed completed or ongoing analyses related to market participants' behaviour or to market events. The difficulties encountered by energy producers were confirmed during 2013 and the first half of 2014, in particular for electricity producers. The costs of production for coal-fired power stations remained particularly low, due especially to a continued drop in the coal prices and despite a slight increase in the CO 2 prices. Production

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

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

Energy Technology Data Exchange (ETDEWEB)

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

2012-12-15

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

Wholesale electricity, CO2, and gas market functioning. 2012-2013 report

International Nuclear Information System (INIS)

2013-10-01

The Energy Regulatory Commission (CRE) monitors transactions by participants on the French wholesale electricity and gas markets since 2006 and it monitors CO 2 trading since late 2010 in cooperation with the AMF. This power is granted by Articles L. 131-2 and L. 131-3 of the Energy Code. Therefore, in the context of its monitoring mission, CRE ensures that wholesale energy market prices are consistent with the technical and economic fundamentals of these markets. In particular, CRE strives to verify that no market power is exercised in such a way that a participant abuses its situation to attain abnormal prices, notably with regard to its costs. This mission is now also part of the European Regulation on Energy Market Integrity and Transparency of 25 October 2011 (REMIT). The REMIT organises wholesale energy market monitoring, prohibits market abuse (insider trading and market manipulation), and requires market participants to disclose any inside information they hold. It entrusts market monitoring, at European level, to the Agency for the Cooperation of Energy Regulators (ACER) in cooperation with national regulatory authorities responsible for national investigations and sanctions. The Brottes law of 15 April 2013 expressly entrusted CRE with the mission of ensuring REMIT implementation and CoRDis jurisdiction to sanction any breaches of the regulation. The energy markets are experiencing major change. The emergence of unconventional hydrocarbons in North America has profoundly changed the global balance of gas and oil production. American gas market prices dropped due to abundant supply causing a significant decline in imports of liquefied natural gas (LNG) from across the Atlantic and a strong incentive to produce electricity in gas-fired plants to the detriment of coal-fired plants. This significant decline in demand for coal in the United States significantly weakened global coal prices. World energy demand is mainly driven by emerging markets, particularly

The prerequisites for effective competition in restructured wholesale electricity markets

International Nuclear Information System (INIS)

Haas, R.; Auer, H.

2006-01-01

This paper argues that effective competition in reformed wholesale electricity markets can only be achieved if the following six prerequisites are met: (1) separation of the grid from generation and supply; (2) wholesale price deregulation; (3) sufficient transmission capacity for a competitive market and non-discriminating grid access; (4) excess generation capacity developed by a large number of competing generators; (5) an equilibrium relationship between short-term spot markets and the long-term financial instruments that marketers use to manage spot-market price volatility; (6) an essentially hands-off government policy that encompasses reduced oversight and privatization. The absence of any one of the first five conditions may result in an oligopoly or monopoly market whose economic performance does not meet the efficiency standards of a competently managed regulated electrical utility. (author)

COMPETITION ON THE WHOLESALE MEDICATION DISTRIBUTION MARKET IN ROMANIA

Directory of Open Access Journals (Sweden)

Alina HAGIU

2013-09-01

Full Text Available Wholesale distribution of medicines in Romania was in the constant attention of the competition authority. In order to analyze the operation of the distribution system practiced in Romania, but also changes that may occur in this system on short and medium term, the Competition Council conducted a sector inquiry after which they found some malfunctioning mainly chained to distributors access to certain medications. Conducted on a sample of 23 pharmaceutical groups operating on the Romanian market and holding approximately 80% of the pharmaceutical market in Romania in 2009, the sector inquiry aimed at two objectives, namely: Legislation analysis with impact on the wholesale distribution of drugs; Market analysis of drug distribution.Following the findings of the high concentration of markets analyzed, due to significant market shares held by innovative drugs under investigation were analyzed also the penetration of generics in the market and the factors that led to this situation.

The surveillance of the electricity wholesale market and emission trading market; Die Ueberwachung von Stromgrosshandelsmarkt und Emissionshandelsmarkt

Energy Technology Data Exchange (ETDEWEB)

Luedemann, Volker [Hochschule Osnabrueck (Germany). Forschungszentrum Energiewirtschaft/Energierecht (fee); Hochschule Osnabrueck (Germany). Wirtschafts- und Wettbewerbsrecht; Konar, Selma [Sozietaet Becker Buettner Held, Muenchen (Germany)

2015-05-15

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

Industrial customer response to wholesale prices in the restructured Texas electricity market

International Nuclear Information System (INIS)

Zarnikau, J.

2007-01-01

This paper estimates the demand responsiveness of the 20 largest industrial energy consumers in the Houston area to wholesale price signals in the restructured Electric Reliability Council of Texas (ERCOT) market. Statistical analysis of their load patterns employing a Symmetric Generalized McFadden cost function model suggests that ERCOT achieved limited success in establishing a market that facilitates demand response from the largest industrial energy consumers in the Houston area to wholesale price signals in its second year of retail competition. The muted price response is at least partially because energy consumers who opt to offer their ''interruptibility'' to the market as an ancillary service are constrained in their ability to respond to wholesale energy prices. (author)

Clean Restructuring: Design Elements for Low-Carbon Wholesale Markets and Beyond. A 21st Century Power Partnership Thought Leadership Report

Energy Technology Data Exchange (ETDEWEB)

Shah, Monisha [National Renewable Energy Lab. (NREL), Golden, CO (United States); Valenzuela, Jose Maria [World Wildlife Fund, Mexico DF (Mexico); Mora, Hector Alejandro Beltran [Energy Regulatory Commission of Mexico, Mexico DF (United States); Moller Porst, Kim [Danish Energy Agency, Copenhagen (Denmark); Hasselager, Anders [Danish Energy Agency, Copenhagen (Denmark); Friis-Jensen, Sandra [Danish Energy Agency, Copenhagen (Denmark); Vingaard, Mette [Danish Energy Agency, Copenhagen (Denmark); Wigand, Fabian [Ecofys, London (England); Tiedemann, Silvana [Ecofys, London (England); Bird, Lori [National Renewable Energy Lab. (NREL), Golden, CO (United States); Zinaman, Owen [National Renewable Energy Lab. (NREL), Golden, CO (United States); Logan, Jeffrey [National Renewable Energy Lab. (NREL), Golden, CO (United States)

2016-05-01

Countries around the world are in various stages of reforming and restructuring their power systems to better meet development needs and decarbonization commitments. Changes in technology, business models, societal needs, and environmental goals are increasing pressure on countries to consider improvements to their power systems. This report addresses key issues associated with clean restructuring--the transition from traditional, vertically integrated utilities to competitive wholesale markets that rely increasingly on variable renewable electricity sources, demand response, and other clean energy options. The report also includes case studies from Mexico, Denmark, and Germany to provide real-world examples of clean restructuring from different perspectives.

Theoretical Model of Pricing Behavior on the Polish Wholesale Fuel Market

Directory of Open Access Journals (Sweden)

Bejger Sylwester

2016-12-01

Full Text Available In this paper, we constructed a theoretical model of strategic pricing behavior of the players in a Polish wholesale fuel market. This model is consistent with the characteristics of the industry, the wholesale market, and the players. The model is based on the standard methodology of repeated games with a built-in adjustment to a focal price, which resembles the Import Parity Pricing (IPP mechanism. From the equilibrium of the game, we conclude that the focal price policy implies a parallel pricing strategic behavior on the market.

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...

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....

75 FR 14342 - Market-Based Rates for Wholesale Sales of Electric Energy, Capacity and Ancillary Services by...

Science.gov (United States)

2010-03-25

...; Order No. 697-D] Market-Based Rates for Wholesale Sales of Electric Energy, Capacity and Ancillary... affiliates.\\3\\ \\1\\ Market-Based Rates for Wholesale Sales of Electric Energy, Capacity and Ancillary Services...\\ Market-Based Rates for Wholesale Sales of Electric Energy, Capacity and Ancillary Services by Public...

75 FR 28004 - Credit Reforms in Organized Wholesale Electric Markets; Notice Establishing Date for Comments

Science.gov (United States)

2010-05-19

... Proposed Rulemaking on Credit Reforms in Organized Wholesale Electric Markets.\\1\\ Specifically, the... counterparty to transactions in their markets \\1\\ Credit Reforms in Organized Wholesale Electric Markets, 130... DEPARTMENT OF ENERGY Federal Energy Regulatory Commission [Docket No. RM10-13-000] Credit Reforms...

Correlations and clustering in wholesale electricity markets

Science.gov (United States)

Cui, Tianyu; Caravelli, Francesco; Ududec, Cozmin

2018-02-01

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

Correlations and clustering in wholesale electricity markets

International Nuclear Information System (INIS)

Cui, Tianyu; Caravelli, Francesco; Ududec, Cozmin

2017-01-01

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

Fecal Contamination on Produce from Wholesale and Retail Food Markets in Dhaka, Bangladesh.

Science.gov (United States)

Harris, Angela R; Islam, Mohammad Aminul; Unicomb, Leanne; Boehm, Alexandria B; Luby, Stephen; Davis, Jennifer; Pickering, Amy J

2018-01-01

Fresh produce items can become contaminated with enteric pathogens along the supply chain at the preharvest (e.g., irrigation water, soil, fertilizer) or postharvest (e.g., vendor handling or consumer handling) stages. This study assesses the concentrations of fecal indicator bacteria Escherichia coli , enterococci (ENT), and Bacteriodales on surfaces of carrots, eggplants, red amaranth leaves, and tomatoes obtained from both a wholesale market (recently harvested) and neighborhood retail markets in Dhaka, Bangladesh. We detected E. coli in 100% of carrot and red amaranth rinses, 92% of eggplant rinses, and 46% of tomato rinses. Using a molecular microbial source tracking assay, we found that 32% of produce samples were positive for ruminant fecal contamination. Fecal indicator bacteria were more likely to be detected on produce collected in retail markets compared with that in the wholesale market; retail market produce were 1.25 times more likely to have E. coli detected ( P = 0.03) and 1.24 times more likely to have ENT detected ( P = 0.03) as compared with wholesale market produce. Bacteriodales was detected in higher concentrations in retail market produce samples compared with wholesale market produce samples (0.40 log 10 gene copies per 100 cm 2 higher, P = 0.03). Our results suggest that ruminant and general fecal contamination of produce in markets in Dhaka is common, and suggest that unsanitary conditions in markets are an important source of produce fecal contamination postharvest.

Welfare Impact of Virtual Trading on Wholesale Electricity Markets

Science.gov (United States)

Giraldo, Juan S.

Virtual bidding has become a standard feature of multi-settlement wholesale electricity markets in the United States. Virtual bids are financial instruments that allow market participants to take financial positions in the Day-Ahead (DA) market that are automatically reversed/closed in the Real-Time (RT) market. Most U.S. wholesale electricity markets only have two types of virtual bids: a decrement bid (DEC), which is virtual load, and an increment offer (INC), which is virtual generation. In theory, financial participants create benefits by seeking out profitable bidding opportunities through arbitrage or speculation. Benefits have been argued to take the form of increased competition, price convergence, increased market liquidity, and a more efficient dispatch of generation resources. Studies have found that price convergence between the DA and RT markets improved following the introduction of virtual bidding into wholesale electricity markets. The improvement in price convergence was taken as evidence that market efficiency had increased and many of the theoretical benefits realized. Persistent price differences between the DA and RT markets have led to calls to further expand virtual bidding as a means to address remaining market inefficiencies. However, the argument that price convergence is beneficial is extrapolated from the study of commodity and financial markets and the role of futures for increasing market efficiency in that context. This viewpoint largely ignores details that differentiate wholesale electricity markets from other commodity markets. This dissertation advances the understanding of virtual bidding by evaluating the impact of virtual bidding based on the standard definition of economic efficiency which is social welfare. In addition, an examination of the impacts of another type of virtual bid, up-to-congestion (UTC) transactions is presented. This virtual product significantly increased virtual bidding activity in the PJM interconnection

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.

The operation of wholesale electricity, CO2 and natural gas markets in 2010-2011

International Nuclear Information System (INIS)

2011-01-01

The first part analyses the electricity wholesale markets: development of the main wholesale market segments, electricity price, electricity production analysis and transparency of production data, transaction analysis. The second part analyses CO 2 markets: evolution of the institutional framework and perspectives, exchanges volumes on the CO 2 market, the CO 2 price in Europe, fundamentals of the European CO 2 market. The third part addresses the gas market: development of gas trade, gas price, gas infrastructures, supply and outlets for stake holders and new comers

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

75 FR 4310 - Credit Reforms in Organized Wholesale Electric Markets

Science.gov (United States)

2010-01-27

... energy markets, in which regional transmission organizations (RTOs) and independent system operators... require RTOs and ISOs to adopt tariff revisions reflecting these proposed credit reforms. The Commission... is in the organized wholesale electric markets.\\5\\ Individual RTOs and ISOs developed their own...

77 FR 48148 - Energy Alternatives Wholesale, LLC; Supplemental Notice That Initial Market-Based Rate Filing...

Science.gov (United States)

2012-08-13

... Energy Alternatives Wholesale, LLC's application for market-based rate authority, with an accompanying... DEPARTMENT OF ENERGY Federal Energy Regulatory Commission [Docket No. ER12-2413-000] Energy Alternatives Wholesale, LLC; Supplemental Notice That Initial Market-Based Rate Filing Includes Request for...

Machine concept optimization for pumped-storage plants through combined dispatch simulation for wholesale and reserve markets

International Nuclear Information System (INIS)

Engels, Klaus; Harasta, Michaela; Braitsch, Werner; Moser, Albert; Schaefer, Andreas

2012-01-01

In Germany's energy markets of today, pumped-storage power plants offer excellent business opportunities due to their outstanding flexibility. However, the energy-economic simulation of pumped-storage plants, which is necessary to base the investment decision on a sound business case, is a highly complex matter since the plant's capacity must be optimized in a given plant portfolio and between two relevant markets: the scheduled wholesale and the reserve market. This mathematical optimization problem becomes even more complex when the question is raised as to which type of machine should be used for a pumped-storage new build option. For the first time, it has been proven possible to simulate the optimum dispatch of different pumped-storage machine concepts within two relevant markets - the scheduled wholesale and the reserve market - thereby greatly supporting the investment decision process. The methodology and findings of a cooperation study between E.ON and RWTH Aachen University in respect of the German pumped-storage extension project 'Waldeck 2+' are described, showing the latest development in dispatch simulation for generation portfolios. (authors)

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...

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...

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

Settlements and the future Ontario wholesale electricity market

International Nuclear Information System (INIS)

Kozlik, K.

1998-01-01

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

Fruit and Vegetable Prices and Perceptions in Mercalaspalmas Wholesale Market

Directory of Open Access Journals (Sweden)

Santiago Rodríguez-Feijoó

2015-01-01

Full Text Available This paper studies the behavior of fruit and vegetable prices in a wholesale market. Its aims are: a to examine price behavior and changes; and b to identify statistically significant factors in the perception of prices and to quantify the effect of these factors on the market price. For this purpose, daily data were obtained on modal prices at the Mercalaspalmas wholesale market from 2006 until mid-2010. The results obtained show there is a similar degree of flexibility in price increases and decreases, and show the product to be the determinant element in setting prices. There was found to be a strong degree of price permanence, in the sense that changes take place slowly and following a lag. The following significant factors were identified in the perception of prices: the length of time a price has remained unchanged in the market; the period during which a product has been absent from the market; the quantities traded at a given price; and the index of market prices. However, the quantitative effect of this body of factors on the perceived price is very limited.

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

Transaction of long-term power purchasing contract by independent power providers in wholesale and retail competitive system

Energy Technology Data Exchange (ETDEWEB)

Lee, Seung Hoon [Korea Energy Economics Institute, Euiwang (Korea)

1998-12-01

In general, the restructuring starts with separation and division of power sector from the existing monopolist as the cases of Thailand and Malaysia. When the power provider is separated and divided, it becomes an independent power provider. The existing regional electricity provider carries out the supplying function to end-users buying electricity from several separated and divided providers. Therefore, the existing regional electricity providers give up the power generation business but become a demand monopolist in wholesale market. The competition system capable of applying during the separation period is the Generation Pool. With the Generation Pool, it is able to promote competition of power generation sector effectively and there is no need to have an extra step such as long-term power purchasing contract. In fact, Latin America and Chile have been managed the power market for more than 10 years with the competition system by the Generation Pool. 9 refs.

Wholesale markets. Electricity, Natural Gas and CO2 markets Observatory - 3. Quarter 2015

International Nuclear Information System (INIS)

2015-09-01

The wholesale markets Observatory aims to provide general monitoring indicators of electricity, natural gas and CO 2 markets in France. This Observatory is updated on a Quarterly basis and published on CRE's web site (www.cre.fr). The first part of the report summarises the highlights of the Quarter. The indicators (main dates, key Graphs and graphs) are detailed in the second part

Wholesale markets. Electricity, Natural Gas and CO2 markets Observatory - 1. Quarter 2016

International Nuclear Information System (INIS)

2016-03-01

The wholesale markets Observatory aims to provide general monitoring indicators of electricity, natural gas and CO 2 markets in France. This Observatory is updated on a Quarterly basis and published on CRE's web site (www.cre.fr). The first part of the report summarises the highlights of the Quarter. The indicators (main dates, key figures and graphs) are detailed in the second part

Wholesale markets. Electricity, Natural Gas and CO2 markets Observatory - 1. Quarter 2015

International Nuclear Information System (INIS)

2015-03-01

The wholesale markets Observatory aims to provide general monitoring indicators of electricity, natural gas and CO 2 markets in France. This Observatory is updated on a Quarterly basis and published on CRE's web site (www.cre.fr). The first part of the report summarises the highlights of the Quarter. The indicators (main dates, key Graphs and graphs) are detailed in the second part

Wholesale markets. Electricity, Natural Gas and CO2 markets Observatory - 2. Quarter 2015

International Nuclear Information System (INIS)

2015-06-01

The wholesale markets Observatory aims to provide general monitoring indicators of electricity, natural gas and CO 2 markets in France. This Observatory is updated on a Quarterly basis and published on CRE's web site (www.cre.fr). The first part of the report summarises the highlights of the Quarter. The indicators (main dates, key Graphs and graphs) are detailed in the second part

Wholesale markets. Electricity, Natural Gas and CO2 markets Observatory - 3. Quarter 2014

International Nuclear Information System (INIS)

2014-09-01

The wholesale markets Observatory aims to provide general monitoring indicators of electricity, natural gas and CO 2 markets in France. This Observatory is updated on a Quarterly basis and published on CRE's web site (www.cre.fr). The first part of the report summarises the highlights of the Quarter. The indicators (main dates, key Graphs and graphs) are detailed in the second part

Wholesale markets. Electricity, Natural Gas and CO2 markets Observatory - 2. Quarter 2014

International Nuclear Information System (INIS)

2014-06-01

The wholesale markets Observatory aims to provide general monitoring indicators of electricity, natural gas and CO 2 markets in France. This Observatory is updated on a Quarterly basis and published on CRE's web site (www.cre.fr). The first part of the report summarises the highlights of the Quarter. The indicators (main dates, key Graphs and graphs) are detailed in the second part

Wholesale markets. Electricity, Natural Gas and CO2 markets Observatory - 4. Quarter 2014

International Nuclear Information System (INIS)

2014-12-01

The wholesale markets Observatory aims to provide general monitoring indicators of electricity, natural gas and CO 2 markets in France. This Observatory is updated on a Quarterly basis and published on CRE's web site (www.cre.fr). The first part of the report summarises the highlights of the Quarter. The indicators (main dates, key Graphs and graphs) are detailed in the second part

Wholesale markets. Electricity, Natural Gas and CO2 markets Observatory - 4. Quarter 2015

International Nuclear Information System (INIS)

2015-12-01

The wholesale markets Observatory aims to provide general monitoring indicators of electricity, natural gas and CO 2 markets in France. This Observatory is updated on a Quarterly basis and published on CRE's web site (www.cre.fr). The first part of the report summarises the highlights of the Quarter. The indicators (main dates, key Graphs and graphs) are detailed in the second part

The functioning of the electricity, CO2 and natural gas wholesale markets in 2011-2012

International Nuclear Information System (INIS)

2012-11-01

The Commission for Energy Regulation (CRE) monitors electricity and natural gas transactions carried out between suppliers, traders and producers, transactions carried out on the organised markets as well as cross-border trades. CRE's mission of monitoring wholesale markets aims to ensure that wholesale market energy prices are consistent with the technical and economic fundamentals of these markets. In particular, CRE strives to verify that no market power is exercised in such a way that a participant abuses its situation to attain abnormal prices, notably with regard to its costs. This task is now also in line with the Regulation on Energy Market Integrity and Transparency known as REMIT. This fifth surveillance report of the CRE presents and analyses the developments of wholesale markets in France in 2011 and the first semester of 2012 for electricity, gas and CO 2 . It also details the investigations carried out in relation to the behaviour of stakeholders or in case of particular market events. On the electricity market, the average spot price increased slightly and was established at euro 49/MWh (base-load), i.e. an increase of 3% compared with 2010; the price of the Calendar 2013 product increased following the German moratorium on nuclear energy before gradually decreasing over the second half of the year. The announcement of the moratorium also resulted in a price differential reversal with Germany (German prices becoming more expensive) until February 2012. Volumes traded also remained stable despite a drop in trade on the futures market. On the gas market, the LNG offer in Europe and France clearly fell on account of trade-offs with the Asian market where demand greatly increased following the accident of Fukushima, with gas replacing nuclear in electricity generation. Gas prices rose on average but remained more stable than in 2010 both on spot markets and futures markets. They progressed, however, at a lower rate than oil products on which long

Wholesale markets. Electricity, Natural Gas and CO2 markets Observatory - 4. Quarter 2013

International Nuclear Information System (INIS)

2013-12-01

The objective of this wholesale markets Observatory is to provide general monitoring indicators of electricity, natural gas and CO 2 markets in France. This Observatory is updated on a Quarterly basis and published on CRE's web site (www.cre.fr). The first part of the report summarises the highlights of the Quarter. The indicators (main dates, key figures and graphs) are detailed in the second part

Wholesale markets. Electricity, Natural Gas and CO2 markets Observatory - 3. Quarter 2013

International Nuclear Information System (INIS)

2013-09-01

The objective of this wholesale markets Observatory is to provide general monitoring indicators of electricity, natural gas and CO 2 markets in France. This Observatory is updated on a Quarterly basis and published on CRE's web site (www.cre.fr). The first part of the report summarises the highlights of the Quarter. The indicators (main dates, key figures and graphs) are detailed in the second part

Wholesale markets. Electricity, Natural Gas and CO2 markets Observatory - 1. Quarter 2014

International Nuclear Information System (INIS)

2014-03-01

The objective of this wholesale markets Observatory is to provide general monitoring indicators of electricity, natural gas and CO 2 markets in France. This Observatory is updated on a Quarterly basis and published on CRE's web site (www.cre.fr). The first part of the report summarises the highlights of the Quarter. The indicators (main dates, key figures and graphs) are detailed in the second part

75 FR 20991 - Credit Reforms in Organized Wholesale Electric Markets; Notice of Technical Conference

Science.gov (United States)

2010-04-22

... DEPARTMENT OF ENERGY Federal Energy Regulatory Commission [Docket No. RM10-13-000] Credit Reforms in Organized Wholesale Electric Markets; Notice of Technical Conference April 15, 2010. Take notice... related to the Commission's Notice of Proposed Rulemaking on Credit Reforms in Organized Wholesale...

75 FR 26749 - Credit Reforms in Organized Wholesale Electric Markets; Notice of Technical Conference

Science.gov (United States)

2010-05-12

... DEPARTMENT OF ENERGY Federal Energy Regulatory Commission [Docket No. RM10-13-000] Credit Reforms in Organized Wholesale Electric Markets; Notice of Technical Conference April 15, 2010. Take notice... related to the Commission's Notice of Proposed Rulemaking on Credit Reforms in Organized Wholesale...

Review the Moscow wholesale market meat delicacies and sausages

OpenAIRE

Sidorchuk, Roman

2010-01-01

The main goal of our marketing research is to review the status of the Moscow wholesale market deli meats in 2005. The study is based on the method of the expert survey, a method that includes: selection of experts survey form, the definition of the structure and strength of the expert group, the development of the methodology of the study, survey, a list of problems. As experts in the survey attended by leaders and experts who know the state of the market of meat products. Also in the study ...

Marketing System of Fresh Friut and Vegetable: The Role of Modern and Wholesale Market in Jakarta and the Vicinity

Directory of Open Access Journals (Sweden)

Togar A. Napitupulu

2010-05-01

Full Text Available Marketing system of fresh fruits and vegetable in the context of the rapidly growing dynamic markets in Jakarta and the vicinity was studied. Unstructured interviews and observations of key persons, and panels were conducted, primarily in three main wholesale markets in Jakarta and the vicinity and some supermarkets. It was found that the availability of management services and associated facilities are not yet fully compatible with modern markets. Their role, therefore, in catering to the supermarkets is limited, in particular for vegetables due to requirements on quality and delivery schedules. In general, supermarkets procure their supply directly from production centers through special/dedicated suppliers, which currently amounts to about 1% to 5% of total production from production centers. If policy and conducive economic incentive are available, wholesale markets are not only domain of public investment anymore, but also private investments alike. The newly established wholesale markets show that they now have a higher rate of utilization than in the years before. It is therefore for the local government and the central government to furthers devise conducive policy and regulatory measures, and for the private to take this opportunity in terms of investment in developing the economy of the region. 

Effects of interruptible load program on equilibrium outcomes of electricity markets with wind power

Energy Technology Data Exchange (ETDEWEB)

An, Xuena; Zhang, Shaohua; Li, Xue [Shanghai Univ. (China). Key Lab. of Power Station Automation Technology

2013-07-01

High wind power penetration presents a lot of challenges to the flexibility and reliability of power system operation. In this environment, various demand response (DR) programs have got much attention. As an effective measure of demand response programs, interruptible load (IL) programs have been widely used in electricity markets. This paper addresses the problem of impacts of the IL programs on the equilibrium outcomes of electricity wholesale markets with wind power. A Cournot equilibrium model of wholesale markets with wind power is presented, in which IL programs is included by a market demand model. The introduction of the IL programs leads to a non-smooth equilibrium problem. To solve this equilibrium problem, a novel solution method is proposed. Numerical examples show that IL programs can lower market price and its volatility significantly, facilitate the integration of wind power.

Functioning of the wholesale electricity, CO_2 and natural gas markets. Report 2015-2016 Surveillance

International Nuclear Information System (INIS)

2016-01-01

No major tightness was observed in 2015 in the French wholesale electricity and gas markets, against a drop in raw material prices, with another year warmer than usual and a particularly mild winter 2015-2016. The drop in oil prices, which was fast in 2014, continued in 2015, down an average 36 % between the two years. Coal prices dropped. However, raw material prices rebounded in the first months of 2016. Therefore, between the first and second quarter of 2016, oil prices increased 26 % reaching euro-31/barrel. Similarly, the price of coal increased from euro-32.4/t in January to euro-50.1/t at the end of June (+55 %). Developments in supply, and especially in demand, related to growth prospects are responsible in part for these changes. These trends are reflected in the wholesale energy price developments. The price of CO_2 allowances was disconnected from the raw material trends, first with an increase in 2015 exceeding euro-8/ton, followed by a sharp decline early 2016. This fall is due in particular to sales carried out by electricity producers in Europe against a backdrop of excess allowances. In this context, the French government proposed a national minimum price for the ton of CO_2 for thermal power stations. On 11 July 2016, the government announced that this mechanism would be applied only to coal plants. CRE recommends that the effects of such a mechanism should be studied specifically given the potential effects on the functioning of markets. The following in particular should be analysed: - the effects on wholesale electricity prices in France and on border exchanges; - the resulting carbon footprint since the expected rise in French wholesale electricity prices could lead to high-carbon electricity imports from bordering countries according to the periods of the year; - the micro-economic effects for the plants concerned and the macro-economic effects in terms of supply security; - and lastly, how it will link with the European framework, in

Capacity withholding in wholesale electricity markets: The experience in England and Wales

Science.gov (United States)

Quinn, James Arnold

This thesis examines the incentives wholesale electricity generators face to withhold generating capacity from centralized electricity spot markets. The first chapter includes a brief history of electricity industry regulation in England and Wales and in the United States, including a description of key institutional features of England and Wales' restructured electricity market. The first chapter also includes a review of the literature on both bid price manipulation and capacity bid manipulation in centralized electricity markets. The second chapter details a theoretical model of wholesale generator behavior in a single price electricity market. A duopoly model is specified under the assumption that demand is non-stochastic. This model assumes that duopoly generators offer to sell electricity at their marginal cost, but can withhold a continuous segment of their capacity from the market. The Nash equilibrium withholding strategy of this model involves each duopoly generator withholding so that it produces the Cournot equilibrium output. A monopoly model along the lines of the duopoly model is specified and simulated under the assumption that demand is stochastic. The optimal strategy depends on the degree of demand uncertainty. When there is a moderate degree of demand uncertainty, the optimal withholding strategy involves production inefficiencies. When there is a high degree of demand uncertainty, the optimal monopoly quantity is greater than the optimal output level when demand is non-stochastic. The third chapter contains an empirical examination of the behavior of generators in the wholesale electricity market in England and Wales in the early 1990's. The wholesale market in England and Wales is analyzed because the industry structure in the early 1990's created a natural experiment, which is described in this chapter, whereby one of the two dominant generators had no incentive to behave non-competitively. This chapter develops a classification methodology

Electricity wholesale market prices in Europe: Convergence?

International Nuclear Information System (INIS)

Zachmann, Georg

2008-01-01

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

Gas pricing in Europe. Pt. 1. Wholesale markets

International Nuclear Information System (INIS)

Donath, R.

1996-01-01

The article investigates gas pricing in the European procurement market and the wholesale markets of the most important EU consumer markets. It demonstrates that value-oriented pricing principles override cost-oriented pricing principles. For one thing, and independently of pricing principles, two- or three-part demand price systems or basic price systems are common. For another, the frequently encountered opportunities for the differentiation of prices show that as long as there is merely substitution competition instead of direct competition, gas suppliers have a certain degree of freedom in fixing their prices. By contrast, the introduction of direct competition in Great Britain has reduced suppliers' individual price fixing margins, because short-term supply and demand variations in the now created spot market are decisive for gas pricing. (orig.) [de

A Note on the Analysis of Time Cost by Difference of Transaction System in the Agricultural Wholesale Market of Korea

OpenAIRE

Yoon-Doo Kim; Seok Yoon

2012-01-01

Problem statement: The purpose of this study is to prove objectively that the market-wholesaler system, introduced to agricultural wholesale market in Korea for the first time, has better operational efficiency than the existing auction system. From an analytical viewpoint, we estimated the time value of two transaction systems at the agricultural wholesale market using the calculation methods of the congestion cost and the accumulation cost, and estimated the operational efficiencies divided...

State Electricity Regulatory Policy and Distributed Resources: Accommodating Distributed Resources in Wholesale Markets

Energy Technology Data Exchange (ETDEWEB)

Weston, F.; Harrington, C.; Moskovitz, D.; Shirley, W.; Cowart, R.; Sedano, R.

2002-10-01

Distributed resources can provide cost-effective reliability and energy services - in many cases, obviating the need for more expensive investments in wires and central station electricity generating facilities. Given the unique features of distributed resources, the challenge facing policymakers today is how to restructure wholesale markets for electricity and related services so as to reveal the full value that distributed resources can provide to the electric power system (utility grid). This report looks at the functions that distributed resources can perform and examines the barriers to them. It then identifies a series of policy and operational approaches to promoting DR in wholesale markets. This report is one in the State Electricity Regulatory Policy and Distributed Resources series developed under contract to NREL (see Annual Technical Status Report of the Regulatory Assistance Project: September 2000-September 2001, NREL/SR-560-32733). Other titles in this series are: (1) Distributed Resource Distribution Credit Pilot Programs - Revealing the Value to Consumers and Vendors, NREL/SR-560-32499; (2) Distributed Resources and Electric System Reliability, NREL/SR-560-32498; (3) Distribution System Cost Methodologies for Distributed Generation, NREL/SR-560-32500; (4) Distribution System Cost Methodologies for Distributed Generation Appendices, NREL/SR-560-32501

Analysing the relationship between wholesale and end-user prices in the Nordic electricity market

International Nuclear Information System (INIS)

Lewis, P.E.; Johnsen, T.A.; Naervae, T.; Wasti, S.

2004-09-01

Efficient pricing in a deregulated market means prices which closely reflect the cost of obtaining electricity in the wholesale market. This research report analyses and explains the relationship between wholesale prices (especially Spot Prices) and end-user prices for residential, industrial and commercial users in the Finnish, Swedish and Norwegian electricity markets. The report primarily analyses the closeness of wholesale and end-user price patterns (the primary tracking period is 1998-2003, focusing especially closely on Finland and the period 2002-2003). The report reveals that Finnish, Norwegian and Swedish end- user prices can all be said to follow spot prices (and other wholesale prices) to a greater or lesser extent. The relationship is however complex and, especially regarding spot prices, clearly closest in Norway, followed by Sweden and then Finland. Whilst, overall, Finnish prices seem quite competitive and Nordic end-user prices currently seem to be extremely similar, there is some cause for concern in Finland. In particular, very few customers have spot based tariffs; wholesale prices (including spot prices) appear to sometimes have been used as an excuse for end-user price rises; Finnish suppliers have often been slow to respond to post-spike spot price reductions; offer prices are currently often higher than standard variable prices; and suppliers seem quite free to follow any pricing strategy, regardless of the presence of competition. Six factors are identified which influence end-user prices and their relationship with wholesale (and particularly spot) prices: hydro-dependency; concentration and entry barriers; cultural and historical determination; legislation; pricing strategies; the competitive environment. The report additionally specifically illustrates a wide variety of possible supplier strategies which might explain Finnish end-user pricing. Spot prices seem to provide only a minor explanation for Finnish end-user prices. (orig.)

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

The French wholesale electricity, natural gas and CO2 markets in 2010-2011

International Nuclear Information System (INIS)

2011-10-01

CRE's mission of monitoring wholesale markets aims to ensure that wholesale market energy prices are consistent with the technical and economic fundamentals of these markets. In particular, CRE strives to verify that no market power is exercised in such a way that a participant abuses its situation to attain abnormal prices, notably with regard to its costs. During 2010, the volumes traded on the intermediated wholesale electricity markets declined by 7% compared to 2009, mainly on the futures markets. The availability of production facilities, in particular nuclear plants, significantly increased and market volatility declined. The average spot price of electricity increased by 10.4% in 2010 compared to 2009, to euro 47.5 /MWh. The average peak price increased by 1.3% in 2010 to euro 59.0 /MWh. Prices for calendar products (Y+1) went from euro 51.7 /MWh on average in 2009 to euro 52.4 /MWh in 2010. These increases mainly reflect the resumption in consumption following the recovery in economic activity and the severe weather conditions in 2010. Since the beginning of 2010, the recovery in availability of nuclear production facilities has contributed to improving the French electricity trade balance at the borders. The expansion of the trilateral coupling (France, Belgium, and the Netherlands) to Germany and, more recently, the German moratorium on nuclear production of electricity has had effects on the European wholesale electricity markets. French term contracts prices are now below German prices. The transparency of the market has increased, notably due to the publication of unplanned outages at production sites within 30 minutes since the end of 2010. On the wholesale gas markets, volumes traded increased significantly in 2010 and in the first six months of 2011. This development extends the dynamic already observed in 2009. The context is still marked by a discrepancy between gas prices on the market and the price of long-term contracts indexed to oil

The energy in Colombia: A wholesale market

International Nuclear Information System (INIS)

1996-01-01

One year ago, the national government's energy politics, gave beginning to a novel strategy for the restructuring of the sector: The setting in march of the wholesale energy market -WEM - and the opening of the energy bag under the administration of interconnection electric S.A. E. P. S., ISA. After a year of works, the positive balance of the market and their permanent growth, are the best letter in presentation of this sector of the national economy. The wholesale energy market is conformed by generating companies. The generating ones are the companies with capacity of superior generation to the 20 MW that they are connected to the national interconnected system; it doesn't care if the origin of this energy is hydraulic, gas, coal or liquid fuel. The generators participate in the WEM with energy offers for price and with their long-term contracts. In the bag they can also offer or to buy energy the generators with capacity between 1 and 20 MW, registered in the National Center of Office CO of ISA, as WEM participants. These can be associated to a generator, to a distributor, to be conformed by one or several groups of big consumers or for organized companies for this purpose, as Mamonal in Cartagena. These users with more demand to 2 MW assisted in oneself place, receive the name of Not Regulated Clients -NRC - and they can hire their energy in free form. The commission of energy regulation and gas ERG modified the tops for these clients starting from January of 1997, the not regulated clients will be this way those that have a same demand or superior to 1 MW; and in January of 1998, bigger than 0.5 MW

The effect of virtual bidding on forward premiums in the New York wholesale energy market

Science.gov (United States)

Knudsen, Andrew D.

In many parts of the United States, the power industry has been deregulated and replaced with regional wholesale energy markets, where utilities purchase electricity from generators at competitive market rates for subsequent distribution to customers. Numerous studies have shown that in each of these markets, the price of energy purchased in the Day Ahead (futures) market exceeds the price in the Real Time (spot) market on average. The existence of this "forward premium" is evidence of market inefficiency and may indicate participants' aversion to risk in the Real Time market or the exercise of market power by generators. To address this inefficiency, the New York Independent System Operator introduced a virtual bidding system within its wholesale market, which permitted participants to engage in purely financial transactions and hedge their exposure to risk. The new policy was expected to promote price convergence by allowing bidders to arbitrage expected differences between Day Ahead and Real Time prices. This study examines whether the presence of virtual bidding was associated with a change in the mean value and magnitude of forward premiums in the NYISO energy market. The study applies a GARCH model to hourly pricing data from 2001 to 2009, controlling for temperature and economic activity. The results indicate that prior to 2005, virtual bidding was associated with significantly lower and less volatile forward premiums in New York's five most congested zones but with increased premiums in the remaining less congested zones. However, when the entire period from 2001 to 2009 is examined, the results suggest that prices have become significantly more divergent in the presence of virtual bidding. Closer examination of the data reveals a dramatic increase in forward premium volatility across all zones beginning in 2005 that is not accounted for by temperature or economic activity and may have biased the results. This study attempts to account for this unexplained

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.

The merit-order effect in the Italian power market: The impact of solar and wind generation on national wholesale electricity prices

International Nuclear Information System (INIS)

Clò, Stefano; Cataldi, Alessandra; Zoppoli, Pietro

2015-01-01

Italy promoted one of the most generous renewable support schemes worldwide which resulted in a high increase of solar power generation. We analyze the Italian day-ahead wholesale electricity market, finding empirical evidence of the merit-order effect. Over the period 2005–2013 an increase of 1 GWh in the hourly average of daily production from solar and wind sources has, on average, reduced wholesale electricity prices by respectively 2.3€/MWh and 4.2€/MWh and has amplified their volatility. The impact on prices has decreased over time in correspondence with the increase in solar and wind electricity production. We estimate that, over the period 2009–2013, solar production has generated higher monetary savings than wind production, mainly because the former is more prominent than the latter. However, in the solar case, monetary savings are not sufficient to compensate the cost of the related supporting schemes which are entirely internalized within end-user tariffs, causing a reduction of the consumer surplus, while the opposite occurs in the case of wind. - Highlights: • We find empirical evidence of the merit-order effect in the Italian market. • 1 GWh from solar and wind (hourly average) reduces prices by 2.3€/MW and 4.2€/MWh. • The impact of RES on price has declined as RES production has increased. • Monetary savings from solar production do not compensate the cost of the incentives. • Monetary savings from wind production are higher than the cost of the incentives

The renewable energy sources market: proposal for its development and implications in the Wholesale Market Administrator; O mercado de energia eletrica de fontes incentivadas: proposta para sua expansao e implicacoes na camara de comercializacao de energia eletrica

Energy Technology Data Exchange (ETDEWEB)

Januario, Alexandra Cristina Vidal

2007-07-01

This work approaches the insertion of the renewable energy sources - SHP, biomass, wind and solar - in the Brazilian power trading environment, more specifically in wholesale market administrator. Although the legislation created the special consumer in 1998, the lack of definition in the renewable energy trading process hindered this market development during years. However, to consider a solution for this implementation, it is important to know the current rules that conduct the power trading, therefore, identifying the possibilities of adjustment. Since this is a current subject, some proposals had been presented by sector agents through the Public Hearing 33/05. In this work, these proposals are also analyzed, so the presented solution considers the advantages and disadvantages of what was discussed by the market agents. Finally, the simulation of the proposed solution indicates its implementation viability and allows a critical analysis of the renewable energy sources market and the trading rules of the wholesale market administrator. (author)

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.

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)

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.

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

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

Defining European Wholesale Electricity Markets. An 'And/Or' Approach

International Nuclear Information System (INIS)

Dijkgraaf, E.; Janssen, M.C.W.

2009-09-01

An important question in the dynamic European wholesale markets for electricity is whether to define the geographical market at the level of an individual member state or more broadly. We show that if we currently take the traditional approach by considering for each member state whether there is one single other country that provides a substitute for domestic production, the market in each separate member state has still to be considered a separate market. However, if we allow for the possibility that at different moments in time there is another country that provides a substitute for domestic production, then the conclusion should be that certain member states do not constitute a separate geographical market. This is in particular true for Belgium, but also for The Netherlands, France, and to some extent also for Germany and Austria. We call this alternative approach the 'and/or' approach.

Aggregate industrial energy consumer response to wholesale prices in the restructured Texas electricity market

International Nuclear Information System (INIS)

Zarnikau, Jay; Hallett, Ian

2008-01-01

The aggregate response of consumers to wholesale price signals is very limited in the restructured Electric Reliability Council of Texas (ERCOT) market. An overall average own-price elasticity of demand of - 0.000008 for industrial energy consumers served at transmission voltage is estimated using a Symmetric Generalized McFadden cost function model. To date, ERCOT has sought to promote demand response to price signals without reliance on 'stand alone' demand response programs, but with a market structure that is designed to facilitate economic demand response. This very limited responsiveness to wholesale price signals may prove problematic in light of policy decisions to pursue an 'energy only' resource adequacy mechanism for ERCOT. (author)

The integration of Price Responsive Demand into Regional Transmission Organization (RTO) wholesale power markets and system operations

International Nuclear Information System (INIS)

Centolella, Paul

2010-01-01

A number of states and utilities are pursuing demand response based on dynamic and time-differentiated retail prices and utility investments in Advanced Metering Infrastructure (AMI), often as part of Smart Grid initiatives. These developments could produce large amounts of Price Responsive Demand, demand that predictably responds to changes in wholesale prices. Price Responsive Demand could provide significant reliability and economic benefits. However, existing RTO tariffs present potential barriers to the development of Price Responsive Demand. Effectively integrating Price Responsive Demand into RTO markets and operations will require changes in demand forecasting, scarcity pricing reform, synchronization of scarcity pricing with capacity markets, tracking voluntary hedging by price responsive loads, and a non-discriminatory approach in curtailments in capacity emergencies. The article describes changes in RTO policies and systems needed incorporate Price Responsive Demand. (author)

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...

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.

Electricity marketing and retailing

International Nuclear Information System (INIS)

Phillips, E.

2001-01-01

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

French wholesale electricity and gas markets in 2007. Monitoring report; Le fonctionnement des marches de gros francais de l'electricite et du gaz naturel en 2007. Rapport de surveillance

Energy Technology Data Exchange (ETDEWEB)

NONE

2008-12-15

Settled on 24 March 2000, the French Energy Regulatory Commission (CRE) is an independent authority. CRE supports an efficient functioning of the electricity and natural gas markets, to the advantage of final consumers. CRE ensures the absence of any discrimination, cross subsidy or obstacle to competition. CRE has examined the functioning of the wholesale markets for electricity and gas for the year 2007. The report discloses the results of a first set of analyses, as well as the next actions to be conducted in order to explain some observed behaviour. On the basis of analyses led on the electricity market, CRE observes that nuclear generation was marginal during 15% of the hours in 2007. Hydraulic generation was marginal during 25% of the hours, coal generation during 25% to 30% of the hours and oil generation during less than 2% of the hours in 2007. Finally, prices on the border markets were of high importance on the French prices which they determined during 20% to 25% of the hours of the year. On an efficient market, the price is driven by the marginal power plant among all those which contribute to satisfy the demand. Therefore the wholesale price formation is conditioned by the frequency of marginality of each generation sector and by the associated valuation of production. On the day-ahead market, when nuclear or hydraulic generation was marginal, the day-ahead price reflected the associated valuation which was decided by EDF. The level of this valuation was generally higher than the marginal generation cost of these plants. As a matter of fact, a producer, even market dominant, may legitimately seek to optimise its income, provided that there is no abuse of a dominant position or any price manipulation. Consequently, at this stage, the relevance of the valuation method for nuclear and hydraulic generation on the wholesale market is still to be checked. CRE has also demonstrated that generation transparency, even if it gradually increased, still needs to

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

Estimating the contribution of the private power plant on electricity market in Korea

Energy Technology Data Exchange (ETDEWEB)

Sonn, Yang-Hoon; Park, Jong-Bae

2010-09-15

This paper aims to measure the contribution of merchant power provider in electricity market in Korea. In spite of the restructuring process of last one decade, wholesale power market is still dominated by KEPCO and its subsidiaries. The share of the public-owned power plants is 89% in capacity, and 96% in generation. The participation of the private power shows very significant contribution in promoting the competition in the market in spite of the small share. The conclusion of the paper is that we need to enhance the competition among suppliers in order to build stable electricity market for the consumer.

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)

Competition compliant wholesale electricity prices. An examination of the regulation on the integrity and transparency of wholesale energy market; Wettbewerbskonforme Stromgrosshandelspreise. Eine Untersuchung der Verordnung ueber die Integritaet und Transparenz des Energiegrosshandelsmarkts

Energy Technology Data Exchange (ETDEWEB)

Konar, Selma

2015-07-01

The development of wholesale electricity prices showed in recent years a very fluctuating course. The starting point for ensuring competitive compliant electricity prices have uniform rules that establish effective competition in the overall wholesale electricity, ensure greater transparency in the market and prohibit market abuse influence exercised on the wholesale price. The REMIT regulation creates a first union-law rules to this standardized specifications. The volume first examines the transparency, competitiveness, and supervisory structures in the wholesale electricity before legislating a regulation. It is clear, as the transparency and supervisory structures should be designed from the wholesale electricity ideally. On this basis, the work is dealing with the REMIT regulation. The author works out to market participants relevant notification and publication requirements, the follow-up demands on the company as well as the now existing prohibitions on market abuse and the related penalty catalog and analyze the supervisory structures newly created in the wholesale electricity. Here, the work also identified the weaknesses of the regulation and shows suitable solution approaches. [German] Die Entwicklung der Stromgrosshandelspreise zeigte in den letzten Jahren einen sehr schwankenden Verlauf. Ausgangspunkt fuer die Gewaehrleistung wettbewerbskonformer Strompreise sind einheitliche Bestimmungen, die im gesamten Stromgrosshandel einen funktionierenden Wettbewerb etablieren, fuer mehr Transparenz am Markt sorgen und marktmissbraeuchliche Einflussnahmen auf den Grosshandelspreis verbieten. Die REMIT-Verordnung schafft als erstes unionsrechtliches Regelwerk hierzu einheitliche Vorgaben. Der Band untersucht zunaechst die Transparenz-, Wettbewerbs-, und Aufsichtsstrukturen im Stromgrosshandel vor Erlass der Verordnung. Dabei wird deutlich, wie die Transparenz- und Aufsichtsstrukturen im Stromgrosshandel idealerweise ausgestaltet sein sollten. Auf dieser Grundlage

Area price and demand response in a market with 25% wind power

International Nuclear Information System (INIS)

Grohnheit, Poul Erik; Andersen, Frits Møller; Larsen, Helge V.

2011-01-01

Denmark, east and west of the Great Belt are bidding areas with separate hourly area prices for the Nord Pool power exchange, covering four Nordic countries and parts of Germany. The share of wind power has now increased to 25% on an annual basis in western Denmark. This has a significant impact not only on the electricity wholesale prices, but also on the development of the market. Hourly market data are available from the website of Danish TSO from 1999. In this paper these data are analysed for the period 2004–2010. Electricity generators and customers may respond to hourly price variations, which can improve market efficiency, and a welfare gain is obtained. An important limitation for demand response is events of several consecutive hours with extreme values. The analysis in this paper is a summary and update of some of the issues covered by the EU RESPOND project. It shows that extreme events were few, and the current infrastructure and market organisation have been able to handle the amount of wind power installed so far. This recommends that geographical bidding area for the wholesale electricity market reflects external transmission constraints caused by wind power. - Highlights: ► More than 10 years of hourly electricity market data are available for western Denmark. ► Current infrastructure and market organisation could handle 25% wind power. ► Demand response to hourly electricity prices leads to limited welfare gain. ► Consecutive hours with high or low price, or high or low wind are relatively few.

75 FR 27330 - Credit Reforms in Organized Wholesale Electric Markets; Notice of Agenda for Technical Conference

Science.gov (United States)

2010-05-14

... Credit Reforms in Organized Wholesale Electric Markets Notice of Proposed Rulemaking\\1\\ regarding whether... Credit Reforms in Organized Electric Markets May 11, 2010 Commission Meeting Room Agenda 9-9:05 a.m... DEPARTMENT OF ENERGY Federal Energy Regulatory Commission [Docket No. RM10-13-000] Credit Reforms...

Pricing of power in the new market: the impact on industrial/commercial customers

Energy Technology Data Exchange (ETDEWEB)

Johannson, K. [TransCanada Power, Calgary, AB (Canada)

2001-07-01

A series of viewgraphs were part of this presentation where the author discussed the operations of TransCanada Power. The company operates a power plant that generate 1500 MW, and has 1000 MW in the advanced development stage. TransCanada Power is also a wholesale marketer that actively participates in regulatory and market design forums. It handles 20 per cent of large industrial loads. A brief overview of power price risk was provided, where the concept of value at risk (VAR), a measurement technique, was explained. An example further illustrated the concept. The author reviewed power markets in Alberta from an historical perspective, noting the differences between regulated wholesale markets and the markets found today. A discussion of the drivers of regulated markets ensued, followed by the drivers of the deregulated market, where generation assets are privately owned, operating outside of the adjudication of the regulator, and the merit order is established by ranking of offers, not costs. Return is made from energy commodity sales, the market price is affected by outside influences, and the average market price does not reflect the average system costs. The author explained the changes that took place and discussed some pricing issues. A section on pricing options reviewed pricing decision objectives, term, short term purchases, long term fixed price energy, gas tolling agreements. The author concluded that each organization must define its tolerance to risk, its comfort level with treating electricity differently than gas. The fundamentals behind pricing must be understood, as well as the competitive position of company. tabs., figs.

Pricing of power in the new market: the impact on industrial/commercial customers

International Nuclear Information System (INIS)

Johannson, K.

2001-01-01

A series of viewgraphs were part of this presentation where the author discussed the operations of TransCanada Power. The company operates a power plant that generate 1500 MW, and has 1000 MW in the advanced development stage. TransCanada Power is also a wholesale marketer that actively participates in regulatory and market design forums. It handles 20 per cent of large industrial loads. A brief overview of power price risk was provided, where the concept of value at risk (VAR), a measurement technique, was explained. An example further illustrated the concept. The author reviewed power markets in Alberta from an historical perspective, noting the differences between regulated wholesale markets and the markets found today. A discussion of the drivers of regulated markets ensued, followed by the drivers of the deregulated market, where generation assets are privately owned, operating outside of the adjudication of the regulator, and the merit order is established by ranking of offers, not costs. Return is made from energy commodity sales, the market price is affected by outside influences, and the average market price does not reflect the average system costs. The author explained the changes that took place and discussed some pricing issues. A section on pricing options reviewed pricing decision objectives, term, short term purchases, long term fixed price energy, gas tolling agreements. The author concluded that each organization must define its tolerance to risk, its comfort level with treating electricity differently than gas. The fundamentals behind pricing must be understood, as well as the competitive position of company. tabs., figs

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

75 FR 27552 - Credit Reforms in Organized Wholesale Electric Markets; Further Notice Concerning Technical...

Science.gov (United States)

2010-05-17

... DEPARTMENT OF ENERGY Federal Energy Regulatory Commission [Docket No. RM10-13-000] Credit Reforms in Organized Wholesale Electric Markets; Further Notice Concerning Technical Conference May 10, 2010... technical conference related to the Commission's Notice of Proposed Rulemaking on Credit Reforms in...

Defining European Wholesale Electricity Markets. An 'And/Or' Approach

Energy Technology Data Exchange (ETDEWEB)

Dijkgraaf, E. [Erasmus School of Economics, Erasmus University Rotterdam, Rotterdam (Netherlands); Janssen, M.C.W. [University of Vienna, Vienna (Austria)

2009-09-15

An important question in the dynamic European wholesale markets for electricity is whether to define the geographical market at the level of an individual member state or more broadly. We show that if we currently take the traditional approach by considering for each member state whether there is one single other country that provides a substitute for domestic production, the market in each separate member state has still to be considered a separate market. However, if we allow for the possibility that at different moments in time there is another country that provides a substitute for domestic production, then the conclusion should be that certain member states do not constitute a separate geographical market. This is in particular true for Belgium, but also for The Netherlands, France, and to some extent also for Germany and Austria. We call this alternative approach the 'and/or' approach.

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

Science.gov (United States)

Tucker, Russell Jay

2002-09-01

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

Smart Meter Tariff Design to Minimise Wholesale Risk

OpenAIRE

Rogers, William; Carroll, Paula

2016-01-01

Smart metering in electricity markets offers an opportunity to explore more diversetariff structures. In this article a Genetic Algorithm (GA) is used to design Time ofUse tariffs that minimise the wholesale risk to the supplier in residential markets.Residential demand and the System Marginal Price of Ireland's Single ElectricityMarket are simulated to estimate the wholesale risk associated with each tariff.

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).

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)

Integrating wind output with bulk power operations and wholesale electricity markets

International Nuclear Information System (INIS)

Hirst, E.

2002-01-01

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

Power procurement on the open market for wholesale and retail customers

International Nuclear Information System (INIS)

Anshan, M.S.

1998-01-01

Some key facts about the new Toronto Hydro, created from the amalgamation of six municipal utilities belonging to Toronto's former satellite cities (and now all of them part of Metro Toronto), are highlighted. Toronto Hydro distributes electricity to 25 per cent of the Ontario market. Their rates are slightly higher than others, but they provide a high level of power reliability to the downtown core. The Toronto market is the most attractive market in Ontario because of its load profile and customer density. Toronto Hydro's strategy to remain competitive in Ontario's restructured energy market is examined. From the beginning, the utility has approached amalgamation assuming that it will be a full player in the retail market. Toronto Hydro's product mix will include cogeneration ventures, green energy options, and an energy procurement business. Issues regarding risk management and what Toronto Hydro is doing to deal with them, are also discussed

Large-scale wind power integration and wholesale electricity trading benefits: Estimation via an ex post approach

International Nuclear Information System (INIS)

Gil, Hugo A.; Gomez-Quiles, Catalina; Riquelme, Jesus

2012-01-01

The integration of large-scale wind power has brought about a series of challenges to the power industry, but at the same time a number of benefits are being realized. Among those, the ability of wind power to cause a decline in the electricity market prices has been recognized. In quantifying this effect, some models used in recent years are based on simulations of the market supply-side and the price clearing process. The accuracy of the estimates depend on the quality of the input data, the veracity of the adopted scenarios and the rigorousness of the solution technique. In this work, a series of econometric techniques based on actual ex post wind power and electricity price data are implemented for the estimation of the impact of region-wide wind power integration on the local electricity market clearing prices and the trading savings that stem from this effect. The model is applied to the case of Spain, where the estimated savings are compared against actual credit and bonus expenses to ratepayers. The implications and extent of these results for current and future renewable energy policy-making are discussed. - Highlights: ► Wholesale electricity market trading benefits by wind power are quantified. ► Actual wind power forecast-based bids and electricity price data from Spain are used. ► Different econometric tools are used and compared for improved estimation accuracy. ► Estimated benefits outweigh current credit overhead paid to wind farms in Spain. ► An economically efficient benefit surplus allocation framework is proposed.

Moscow wholesale market meat delicacies and sausages in late 1999 and early 2000.

OpenAIRE

Sidorchuk, Roman

2010-01-01

The main goal of our marketing research is to obtain an overview of the status of the Moscow wholesale market meat delicacies and sausages at the end of 2000. The study was laid expert method, which includes: choice of the form the survey of experts, the definition of the structure and strength of the expert group, the development of survey methodology, survey, list of problems. By the expert survey involved managers and specialists, who know how deeply the problem of organization as a whole,...

Retrospective modeling of the merit-order effect on wholesale electricity prices from distributed photovoltaic generation in the Australian National Electricity Market

International Nuclear Information System (INIS)

McConnell, Dylan; Hearps, Patrick; Eales, Dominic; Sandiford, Mike; Dunn, Rebecca; Wright, Matthew; Bateman, Lachlan

2013-01-01

In electricity markets that use a merit order dispatch system, generation capacity is ranked by the price that it is bid into the market. Demand is then met by dispatching electricity according to this rank, from the lowest to the highest bid. The last capacity dispatched sets the price received by all generation, ensuring the lowest cost provision of electricity. A consequence of this system is that significant deployments of low marginal cost electricity generators, including renewables, can reduce the spot price of electricity. In Australia, this prospect has been recognized in concern expressed by some coal-fired generators that delivering too much renewable generation would reduce wholesale electricity prices. In this analysis we calculate the likely reduction of wholesale prices through this merit order effect on the Australian National Electricity Market. We calculate that for 5 GW of capacity, comparable to the present per capita installation of photovoltaics in Germany, the reduction in wholesale prices would have been worth in excess of A$1.8 billion over 2009 and 2010, all other factors being equal. We explore the implications of our findings for feed-in tariff policies, and find that they could deliver savings to consumers, contrary to prevailing criticisms that they are a regressive form of taxation. - Highlights: ► We model the impact of photovoltaic generation on the Australian electricity market. ► Photovoltaic generation depresses electricity prices, particularly in summer peaks. ► Over the course of a year, the depression in wholesale prices has significant value. ► 5 GW of solar generation would have saved $1.8 billion in the market over two years. ► The depression of wholesale prices offsets the cost of support mechanisms

Electricity Market Manipulation: How Behavioral Modeling Can Help Market Design

Energy Technology Data Exchange (ETDEWEB)

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

2015-12-18

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

Buying and selling power in a deregulated energy market : proceedings of an Insight conference

International Nuclear Information System (INIS)

1999-01-01

Issues relating to the restructuring of Ontario's electric power industry, especially the buying and selling of power are the principal focus of this conference. The restructuring began in November 1997 when the Ontario government announced its plans to have open competition in both the wholesale and retail electricity market by the year 2000. The nature of buying and selling in a competitive energy market, the impact that this new regulatory regime will have on Municipal Electrical Utilities (MEUs), supplier certification, load profiling, power quality and reliability, and issues regarding contracts for transmission and distribution of electric power in an open electricity market received much attention. Concerns about the exercise of market power, and issues related to consumer choices and goals were also discussed. refs., tabs., figs

Wholesale energy market in a smart grid. Dynamic modeling, stability, and robustness

Energy Technology Data Exchange (ETDEWEB)

Kiani Bejestani, Arman

2013-01-24

The recent paradigm shift in the architecture of the smart grid is driven by the need to integrate Renewable Energy Resources (RER), the availability of information through communication networks, and an emerging policy of demand that is intertwined with pricing. A major component of this architecture is the design of electricity markets, which pertains to the optimal scheduling of power generation and reserve requirements. The challenge is to carry out this scheduling with a high level of integration of renewable generation sources, a formidable task due to intermittency and uncertainty. Introducing huge intermittency and uncertainty in the smart grid will demand a dynamic framework for addressing the operation, scheduling and financial settlements in the uncertain environment. The temporal components in scheduling generation are necessary due to increasing penetration of renewable sources, and increasing potential of adjustable demand via Demand Response (DR). The former brings issues of strong intermittency and uncertainty, and the latter brings a feedback structure, where demand can be modulated over a range of time-scales. Both of these components are dictating a new look at market mechanisms, with a controls viewpoint enabling a novel framework for analysis and synthesis. This dissertation provides static and dynamic models that capture the various aspects of electrical power systems, including the dynamics of market participants, the physical and technical constraints of power systems, and the uncertainty of RER. The proposed models shed new light on wholesale electricity market design, allowing an understanding to be gained of how to create markets, which enhance the stability of price profiles, and efficiency of the power systems, in the presence of uncertain demand and intermittent resources. The notion of market equilibrium in the presence of RER and DR is presented. The effects of uncertainties due to forecast errors in RER and variations due to DR on

Power system and market integration of renewable electricity

Science.gov (United States)

Erdmann, Georg

2017-07-01

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

Assessing the impact of wind generation on wholesale prices and generator dispatch in the Australian National Electricity Market

International Nuclear Information System (INIS)

Forrest, Sam; MacGill, Iain

2013-01-01

Growing climate change and energy security concerns are driving major wind energy deployment in electricity industries around the world. Despite its many advantages, growing penetrations of this highly variable and somewhat unpredictable energy source pose new challenges for electricity industry operation. One issue receiving growing attention is the so-called ‘merit order effect’ of wind generation in wholesale electricity markets. Wind has very low operating costs and therefore tends to displace higher cost conventional generation from market dispatch, reducing both wholesale prices and conventional plant outputs. This paper extends the current literature on this effect through an empirical study employing a range of econometric techniques to quantify the impacts of growing wind penetrations in the Australian National Electricity Market (NEM). The results suggest that wind is having a marked impact on spot market prices and, while wind is primarily offsetting higher operating cost gas generation, it is now also significantly reducing dispatch of emissions intensive brown coal generation. Great care needs to be taken in extrapolating these results to longer-term implications, however, the study does propose a methodology for assessing this effect, highlights the impacts that wind is already having on NEM outcomes and suggests promising directions for future research. - Highlights: ► Proposes methodologies to estimate short run impact of wind on electricity markets. ► Quantifies the merit order effect of wind generation on wholesale spot price. ► Wind is found to be significantly effecting gas fired generation. ► Evidence is found for wind having a notable impact on baseload coal generation. ► Discusses the implications for development of wind generation in Australia

Fluctuation traits of Litchi wholesale price in China

Science.gov (United States)

Yan, F. F.; Qi, W. E.; Ouyang, X.

2017-07-01

This paper chose the wholesale price of litchi as research object based on the daily data of 11 main sales markets in China -- Beijing, Chengdu, Guangzhou, Hefei, Jiaxing, Nanjing, Shanghai, Shenyang, Changsha, Zhengzhou and Chongqing from April 1, 2012 to September 30, 2016. After analyzing the fluctuation characteristics with BP filter method and H-P filter method, and the fluctuation trends of litchi wholesale price in China obtained by BP filter are roughly consistent with the trends obtained by H-P filter. The main conclusions are as follows: there is strong cyclicality in the fluctuation of litchi wholesale price; the period of fluctuations of litchi wholesale prices are not repeatable; litchi wholesale price fluctuates asymmetrically in one fluctuation cycle.

After the crisis: which future for the competitive power market of Ontario?

International Nuclear Information System (INIS)

Fraser, P.

2003-01-01

This document presents the power distribution system of Ontario (Canada) and the crisis that followed the opening of the electricity market on May 1, 2002 in Ontario. The author explains the process of reforms of the power market, the re-structuration of Ontario Hydro company and the occurrence of new energy companies (73 new retailers), the launching of a wholesale market, the reasons of the crisis (25% average rise of electricity prices) and the lessons to be learned from. In front of this situation, a freezing of electricity prices to their level prior to May 2002 and a reimbursement of the difference paid by consumers since May 2002 have been decided by the government up to 2006. (J.S.)

The influence of spatial effects on wind power revenues under direct marketing rules

Energy Technology Data Exchange (ETDEWEB)

Grothe, Oliver [Koeln Univ. (Germany). Dept. of Economic and Social Statistics; Muesgens, Felix [Brandenburgische Technische Univ. Cottbus (Germany). Lehrstuhl fuer Energiewirtschaft

2012-03-15

In many countries worldwide, investment in renewable technologies has been accelerated by the introduction of fixed feed-in tariffs for electricity from renewable energy sources (RES). While fixed tariffs accomplish this purpose, they lack incentives to align the RES production with price signals. Today, due to a growing proportion of renewable electricity, the intermittency of most RES increases the volatility of electricity prices and might even prevent market clearing. Therefore, support schemes for RES have to be modified. Recently, Germany launched a market premium model which gives wind power operators the monthly choice to either receive a fixed feed-in tariff or to risk a - subsided - access to the wholesale electricity market. This paper quantifies the revenues of wind turbines under this new model and, in particular, analyzes whether, when and where producers may profit. We find that the position of the wind turbine within the country significantly influences revenues. The results are of interest and importance for wind farm operators deciding whether electricity should be sold in the fixed tariff or in the wholesale market.

Generators' bidding behavior in the NYISO day-ahead wholesale electricity market

International Nuclear Information System (INIS)

Zhang, Ning

2009-01-01

This paper proposes a statistical and econometric model to analyze the generators' bidding behavior in the NYISO day-ahead wholesale electricity market. The generator level bidding data show very strong persistence in generators' grouping choices over time. Using dynamic random effect ordered probit model, we find that persistence is characterized by positive state dependence and unobserved heterogeneity and state dependence is more important than unobserved heterogeneity. The finding of true state dependence suggests a scope for economic policy intervention. If NYISO can implement an effective policy to switch generators from higher price groups to lower price groups, the effect is likely to be lasting. As a result, the market price can be lowered in the long-run. Generators' offered capacity is estimated by a two-stage sample selection model. The estimated results show that generators in higher-priced groups tend to withhold their capacity strategically to push up market prices. It further confirms the importance of an effective policy to turn generators into lower price groups in order to mitigate unexpected price spikes. The simulated market prices based on our estimated aggregate supply curve can replicate most volatility of actual DA market prices. Applying our models to different demand assumptions, we find that demand conditions can affect market prices significantly. It validates the importance of introducing demand side management during the restructure of electricity industry. (author)

Power system and market integration of renewable electricity

Directory of Open Access Journals (Sweden)

Erdmann Georg

2017-01-01

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

Wholesale electricity, natural gas and CO2 markets - Observatory 3. Quarter 2016 (Figures as at 30/09/2016)

International Nuclear Information System (INIS)

2016-01-01

The wholesale markets Observatory aims to provide general monitoring indicators of electricity, natural gas and CO 2 markets in France. This Observatory is updated on a Quarterly basis and published on CRE's web site (www.cre.fr). The first part of the report summarises the highlights of the Quarter. The indicators (main dates, key Graphs and graphs) are detailed in the second part

Market control in the electricity production and wholesale markets. A critical analysis of the more recent views of the Federal Cartel Office

International Nuclear Information System (INIS)

Drozella, Gisela; Krebs, Harald

2013-01-01

In its sector-specific investigations in the electricity production and wholesale markets the German Federal Cartel Office continues to apply its concept of what it terms a primary sales market. The authors describe the discrepancy that exists between the beliefs about market action that underlie the Cartel Office's determination of market boundaries and market action as it actually occurs in reality. The legal concept of the exercise of unilateral market control by several companies as developed by the Cartel Office on the basis of an economic instrument appears unsustainable, both legally and economically. This is compounded by methodological shortcomings. It is therefore the authors' opinion that the approach taken by the Cartel Office in its sector-specific investigations does not afford a sustainable basis for its finding of electricity production companies exercising market control.

Optimum sizing of PV-attached electricity storage according to power market signals – A case study for Germany and Italy

International Nuclear Information System (INIS)

Zucker, Andreas; Hinchliffe, Timothée

2014-01-01

Highlights: • PV-attached battery unprofitable from German wholesale aggregator point of view. • PV-attached battery profitability below utility costs of capital in Italy. • Profitability can be reached if energy CAPEX reaches 100–150 EUR/kW h. • Optimum sizing depends on usage. • Maximum 5 h of storage and power rating exceeding 40% of PV power required. - Abstract: This paper investigates the business case of power storage attached to PV generation from the perspective of an aggregator trading power on wholesale markets and possibly supplying household customers. The profitability and an optimum storage configuration are determined for two European regions: Baden-Wuerttemberg in Germany and Puglia in Italy based on wholesale price data and solar irradiation data for the years 2007–2011. During this period of time and under the assumptions made, adding storage to a portfolio of PV generators would not have constituted a business case for Baden-Wuerttemberg while profitability could have been reached for Puglia. However, the return of PV-attached storage that could have been achieved in Puglia during the years 2007–2011 is below levels typically required by companies operating on wholesale markets (deregulated power generators or traders) as those market participants’ capital costs are usually significantly higher than borrowing costs of the state. Storage proved to be financially more attractive in cases where severe grid constraints lead to significant levels of curtailment provided that the associated losses would not be financially compensated. This could pose a risk to any investor as grid upgrades would eventually erode the revenues. Restricting the storage to PV energy only (i.e. without the possibility to do arbitrage on markets) depresses the business case and is generally unprofitable, except but for situations of severe grid bottlenecks. The picture does not change significantly if a consumption portfolio is added. In order to reach

Is the price squeeze doctrine still viable in fully-regulated energy markets?

International Nuclear Information System (INIS)

Spiwak, L.J.

1993-01-01

Simply stated, a price squeeze occurs when a firm with monopoly power on the primary, or wholesale, level engages in a prolonged price increase that drives competitors out of the secondary, or retail level, and thereby extends its monopoly power to the secondary market. A price squeeze will not be found, however, for any short-term exercise in market power. Rather, because anticompetitive effects of a price squeeze are indirect, the price squeeze must last long enough and be severe enough to produce effects on actual or potential competition in the secondary market. In regulated electric industries, a price squeeze claim usually arises from the complex relationship between the supplier, the wholesale customer, the retail customer, and the federal and state regulators. The supplier sells electric power to both wholesale and retail customers. Wholesale transactions are regulated by federal regulators, and retail transactions are regulated at the state level. The wholesale customers in turn sell power to their retail customers. Over the last several years, there have been substantial developments in the application of the price squeeze doctrine to fully-regulated electric utilities. This article will examine the current developments in this area, and attempt to highlight the burdens potential litigants, both plaintiffs and defendants, must overcome to succeed

Occupational health in high altitudes stevedores: the workers of the wholesale markets from Huancayo, 2006

OpenAIRE

Vigil, Liliana; Dirección Ejecutiva de Medicina y Psicología del Trabajo, Centro Nacional de Salud Ocupacional y Protección del Ambiente para la Salud, Instituto Nacional de Salud. Lima, Perú. Psicóloga.; Gutiérrez, Rita; Psicología del Trabajo, Centro Nacional de Salud Ocupacional y Protección del Ambiente para la Salud, Instituto Nacional de Salud. Lima, Perú. Tecnóloga médica.; Cáceres, Walter; Dirección Ejecutiva de Medicina y Psicología del Trabajo, Centro Nacional de Salud Ocupacional y Protección del Ambiente para la Salud, Instituto Nacional de Salud. Lima, Perú. Médico.; Collantes, Héctor; Dirección Ejecutiva de Medicina y Psicología del Trabajo, Centro Nacional de Salud Ocupacional y Protección del Ambiente para la Salud, Instituto Nacional de Salud. Lima, Perú. Médico.; Beas, Julio; Dirección Ejecutiva de Medicina y Psicología del Trabajo, Centro Nacional de Salud Ocupacional y Protección del Ambiente para la Salud, Instituto Nacional de Salud. Lima, Perú. Médico traumatólogo.

2007-01-01

Objectives. Knowing the conditions of hygiene and safety of the stowage work process and their relationship with the health of workers engaged in this activity. Materials and methods. Observational study was performed in potato stevedores from wholesale markets of Huancayo, Peru (3350 m). Anthropometric evaluation was using international parameters; working conditions were assessed by direct observation, and ergonomic using the REBA and OWAS methods. We performed a clinical and traumatolo...

The impact of intermittently renewable energy on Italian wholesale electricity prices: Additional benefits or additional costs?

International Nuclear Information System (INIS)

Gullì, Francesco; Balbo, Antonio Lo

2015-01-01

Most studies of the literature find that the development of renewable energy sources determines a decrease in the wholesale prices. Some authors use this finding to state that the current subsidies for renewable technologies cannot be considered as excessive. By carrying out a hybrid analysis (both simulation and ex-post empirical analyses) of the case of photovoltaic energy in Italy, this article demonstrates that this result cannot be generalised. Under market power, an increase in PV production can provide benefits in terms of a wholesale price decrease only beyond a specific threshold and especially if combined with other effects. Otherwise, it is likely that PV development could imply an increase in prices. Therefore, on the one hand, caution is necessary when using the estimated change in wholesale prices to evaluate the net cost for consumers of the supporting policies for renewables: either the simulation-based models or the full empirical analyses may be misleading. On the other hand, if 'decarbonisation' is the main objective, the energy policies should be designed in order to assure a deep and balanced penetration of the clean technologies, regardless of their estimated transitory impact on wholesale prices (and in the meantime reviewing the organisation of power markets). -- Highlights: •We use a hybrid analysis based on a combined approach (both simulation and ex-post empirical analyses). •There is a critical threshold of RES penetration within which prices may increase. •Price increases are more likely with PV rather than with wind power. •Either the simulation models or the full empirical analyses may be misleading. •Caution is necessary when using the results of these analyses for policy decisions

Evaluating the power supply challenge and possible solutions

International Nuclear Information System (INIS)

Dalton, J.

2003-01-01

This presentation highlighted Ontario's need for additional electric power generating capacity and proposed solutions to encourage traders and marketers to invest in the electricity market and new power projects. The author notes that Ontario's Bill 210 reduced forward market activity. Further government intervention is seen as a risk by investors. New entrants are also concerned with the market dominant position of Ontario Power Generation. Conditions are not currently in place for new generation investment to occur on a strictly market basis. Currently, the market need is driven by the assumption that Pickering 'A' nuclear power generating facility will return to service. Without the Pickering units, Ontario will need additional generating capacity. This presentation also outlined the services offered by Navigant Consulting, a global management firm that offers financial, policy, and economic consulting services to the energy industries. Navigant will provide an Ontario Wholesale Market Briefing Service four times per year. The service will review wholesale market pricing and demand levels since market opening. It will also review recent developments of the Ontario power market, including status of market reform initiatives, market rule changes, and project announcements. The implications of Bill 210 and wholesale market performance since market opening will be assessed with particular attention to market risks and opportunities within the new market structure. 3 tabs., 3 figs

Influence of wholesale lamb marketing options and merchandising styles on retail yield and fabrication time.

Science.gov (United States)

Lorenzen, C L; Martin, A M; Griffin, D B; Dockerty, T R; Walter, J P; Johnson, H K; Savell, J W

1997-01-01

Lamb carcasses (n = 94) from five packing plants, selected to vary in weight class and fat thickness, were used to determine retail yield and labor requirements of wholesale lamb fabrication. Carcasses were allotted randomly according to weight class to be fabricated as whole carcasses (n = 20), three-piece boxes (n = 22), or subprimals (n = 52). Processing times (seconds) were recorded and wholesale and retail weights (kilograms) were obtained to calculate retail yield. Subprimals were fabricated into bone-in retail cuts or boneless or semi-boneless retail cuts. Retail yield for subprimal lamb legs decreased from 85.3 +/- .6% for bone-in to 68.0 +/- .7% for a completely boneless retail product. Correspondingly, processing times increased from 126.1 +/- 5.4 s to 542.0 +/- 19.2 s for bone-in and boneless legs, respectively. For all subprimals, retail yield percentage tended to decrease and total processing time increase as cuts were fabricated to boneless or semi-boneless end points compared with a bone-in end point. Percentage retail yield did not differ (P > .05) among whole carcass, three-piece box, and subprimal marketing methods. Total processing time was shorter for subprimals (P < .05) than for the other two marketing methods.

Horticultural Loss Generated by Wholesalers: A Case Study of the Canning Vale Fruit and Vegetable Markets in Western Australia

Directory of Open Access Journals (Sweden)

Purabi R. Ghosh

2017-05-01

Full Text Available In today’s economic climate, businesses need to efficiently manage their finite resources to maintain long-term sustainable growth, productivity, and profits. However, food loss produces large unacceptable economic losses, environmental degradation, and impacts on humanity globally. Its cost in Australia is estimated to be around AUS$8 billion each year, but knowledge of its extent within the food value chain from farm to fork is very limited. The present study examines food loss by wholesalers. A survey questionnaire was prepared and distributed; 35 wholesalers and processors replied and their responses to 10 targeted questions on produce volumes, amounts handled, reasons for food loss, and innovations applied or being considered to reduce and utilize food loss were analyzed. Reported food loss was estimated to be 180 kg per week per primary wholesaler and 30 kg per secondary wholesaler, or around 286 tonnes per year. Participants ranked “over supply” and “no market demand” as the main causes for food loss. The study found that improving grading guidelines has the potential to significantly reduce food loss levels and improve profit margins.

Retail Price Levels and Concentrations of Wholesalers, Retailers and Hypermarkets

OpenAIRE

Asplund, Marcus; Friberg, Richard

1999-01-01

This paper examines retail grocery price levels with a very large (unbalanced) panel of stores that operate in well-defined local markets. We explain price variation across grocery retailers by the concentration of wholesalers and retailers, and the market share of hypermarkets (and control for a number of store and region specific factors). Our most important result is that concentration at the wholesale level is an important determinant of retail prices. The price effect of retail concentra...

Hidden wholesale: The drug diffusing capacity of online drug cryptomarkets.

Science.gov (United States)

Aldridge, Judith; Décary-Hétu, David

2016-09-01

In spite of globalizing processes 'offline' retail drug markets remain localized and - in recent decades - typically 'closed', in which dealers sell primarily to known customers. We characterize drug cryptomarkets as 'anonymous open' marketplaces that allow the diffusion of drugs across locales. Where cryptomarket customers make stock-sourcing purchases for offline distribution, the cryptomarket may indirectly serve drug users who are not themselves cryptomarket customers, thereby increasing the drug diffusing capacity of these marketplaces. Our research aimed to identify wholesale activity on the first major cryptomarket, Silk Road 1. Data were collected 13-15 September 2013. A bespoke web crawler downloaded content from the first major drug cryptomarket, Silk Road 1. This generated data on 1031 vendors and 10,927 drug listings. We estimated monthly revenues to ascertain the relative importance of wholesale priced listings. Wholesale-level revenue generation (sales for listings priced over USD $1000.00) accounted for about a quarter of the revenue generation on SR1 overall. Ecstasy-type drugs dominated wholesale activity on this marketplace, but we also identified substantial wholesale transactions for benzodiazepines and prescription stimulants. Less important, but still generating wholesale revenue, were cocaine, methamphetamine and heroin. Although vendors on the marketplace were located in 41 countries, wholesale activity was confined to only a quarter of these, with China, the Netherlands, Canada and Belgium prominent. The cryptomarket may function in part as a virtual broker, linking wholesalers with offline retail-level distributors. For drugs like ecstasy, these marketplaces may link vendors in producer countries directly with retail level suppliers. Wholesale activity on cryptomarkets may serve to increase the diffusion of new drugs - and wider range of drugs - in offline drug markets, thereby indirectly serving drug users who are not cryptomarket

Higher prices at Canadian gas pumps: international crude oil prices or local market concentration? An empirical investigation

International Nuclear Information System (INIS)

Anindya Sen

2003-01-01

There is little consensus on whether higher retail gasoline prices in Canada are the result of international crude oil price fluctuations or local market power exercised by large vertically-integrated firms. I find that although both increasing local market concentration and higher average monthly wholesale prices are positively and significantly associated with higher retail prices, wholesale prices are more important than local market concentration. Similarly, crude oil prices are more important than the number of local wholesalers in determining wholesale prices. These results suggest that movements in gasoline prices are largely the result of input price fluctuations rather than local market structure. (author)

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

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

Oil industry consolidation and refined product prices. Evidence from US wholesale gasoline terminals

International Nuclear Information System (INIS)

Kendix, Michael; Walls, W.D.

2010-01-01

Our objective in this paper is to quantify the impact of petroleum industry consolidation on refined product prices, controlling for other important factors that could also impact prices. Our empirical analysis focuses on the US petroleum refining industry using data on industry consolidation and wholesale gasoline prices collected over the interval 2000-2008. We match refinery units to wholesale city-terminal gasoline markets, and then estimate pooled cross-section time-series regressions to quantify the impact of petroleum industry consolidation on wholesale gasoline prices at city-specific terminals. The results of the empirical analysis of mergers are mixed, showing that some petroleum industry mergers resulted in statistically significant increases in refined product prices; others resulted in statistically significant declines and still others had no statistical impact at all. Our analysis of the effects of measures of market concentration - one at the level of city-specific wholesale terminals and another at the level of regional spot markets - found evidence that less concentrated markets are associated with lower price levels. (author)

The role of government in a competitive power market : strategic behaviors and regulation

Energy Technology Data Exchange (ETDEWEB)

Kim, N.Y. [Korea Energy Economics Institute, Euiwang (Korea)

2001-12-01

Restructuring in the Korean power industry has fundamentally changed the role of government. The role of government in a new environment may include : (1) promoting competition (2) prohibiting collusion or unfair trade practices (3) securing uninterrupted power supply (4) providing universal services to consumers (5) implementing appropriate price regulation. Focusing on the first two issues, this report has analyzed anti-competitive strategic behaviors and an impact of market power and tried to provide regulatory guidelines. This report surveyed three types of theoretical models analyzing a bidding behavior in an electric power market. The Cournot model is applied to the Korean electricity market. The following policy implications are derived. (1) The Cournot-Nash equilibrium price can be regarded as a threshold in market surveillance. (2) Had the fossil stations been divided among six instead of five companies, then market power would have been weakened in a reasonable degree. This finding also renders some implications with respect to business permission, divestiture, and merger. Among those, it is argued that a large new entrant rather than small IPPs contributes to increasing competition and lowering market power. (3) Increase in responsiveness of final demand to wholesale price fluctuation is an important factor to lower the Cournot equilibrium price and so market power. Therefore, appropriate regulatory system should be arranged to make power demand more elastic. (4) Activating contract markets such as CfD and introducing the capacity credit market can greatly help to lower market power. (author). 36 refs., 26 figs., 4 tabs.

Power plants investment decision-making in consideration of investment risk

International Nuclear Information System (INIS)

Oda, Junichiro; Matsuhashi, Ryuji; Yoshida, Yoshikuni; Takashima, Ryuta

2005-01-01

In this paper, we consider the investment risk of nuclear power plants using the real options approach. It is essential that the Japanese society evaluate the investment risk, because nuclear power plants are facing definite uncertainty and Japanese governments intend to promote and assist nuclear power plants through subsidies and policy actions. We assumed that the wholesale market prices of electricity constitute the definite uncertainty and that the wholesale market prices follow the geometric Brownian motion with drift. Using the Bellman equation and a lattice framework, we evaluated the value of investment opportunity, the value of equipment, and the critical prices that are optimal prices to invest in a nuclear power plant in the finite time horizon. This analysis shows that higher volatility of the wholesale market prices would give power companies lower incentive to construct electric power plants, particularly capital-intensive power plants. In order to deliberate and hold the Japanese governments accountable for the economics of nuclear power plants, multifaceted evaluation is needed. (author)

The role of nuclear power plants in the wholesale electricity market

International Nuclear Information System (INIS)

Alonso, J. c.; Alonso, J.; Gonzalez, A.; Gonzalez, R.

2009-01-01

The Spanish electricity market has been running foe eleven years and its rules and procedures have proven compatible with a safe and stable operation of the nuclear power plants, helped by a wide portfolio of technologies in the Spanish system. In the near future, two issues emerge as a potential threat: the increase in renewable (mainly wind) production and its volatility and the development of new network infrastructure around the plants owned by third parties. Stricter rules on network development and operation and greater respect to the plants operational needs have to be pushed forward by the industry to succeed in life extension programs. (Author)

Assessing long-term effects of demand response policies in wholesale electricity markets

International Nuclear Information System (INIS)

Cepeda, Mauricio; Saguan, Marcelo

2014-05-01

This paper deals with the practical problems related to long-term issues in electricity markets in the presence of demand response development. Different policies have been implemented around the world aiming to develop demand response potential. Externalities, in particular the CO_2 externality, have been one of the key elements in the debate on the effectiveness of different policies regarding demand response development. Policy makers have several options to deal with this externality. The most direct one is to correct the externality by setting a CO_2 price at a level that corresponds to the cost to society of the corresponding CO_2 emissions. One alternative solution could be to subsidize carbon-free technologies as demand response. In this paper we examine potential long-term impacts of these two policies. We rely on a long-term market simulation model that characterizes expansion decisions in a competitive regime. We test for each policy two different scenarios regarding the possibility of internalization of the CO_2 externality. The results show that differences in development policies affect both investments and social costs in the wholesale electricity market and confirm previous findings that a market-driven development of demand response with the internalization of the CO_2 externality is the most efficient approach. (authors)

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)

Processes of concentration of wholesale trade in poland in the light of empirical research

Directory of Open Access Journals (Sweden)

Szymon Strojny

2016-09-01

Full Text Available Background: The increasing role of trade as the integrator of distribution channels has been observed in Poland recently. Retail companies have gained a competitive advantage in relationships with both  suppliers and recipients. The natural questions are, how the situation of the wholesale trade looks at present in such a situation and what prospects it has for the future. The main aim of this paper is to identify and describe the influence of new conditions on the development of the wholesale trade as part of the supply chain. The hypothesis was assumed that this development is determined by processes related to the concentration of trade companies, which were also visiblerecently in Poland. Methods: The main concentration processes in Polish trade were identified based on a literature review and previous research. Then, based on the results of a survey and data obtained from the Central Statistical Office, the influence of these trends on the development of wholesale trade was evaluated. The further directions of changes in Polish wholesale trade were also indicated. Empirical research was conducted by the use of a direct interview with a random sample of 108 wholesale companies, both independent  and as part of chains. The research focused on wholesalers' opinions of market trends and integration processes in Polish wholesale trade and cover the  years 2014-15. Results: The results show the key market processes with regard to trade concentration. The biggest threats to the development of the wholesale trade are the processes of the horizontal concentration in retail. The concentration of retail companies leads to a shortening of the distribution channels and direct purchases from producers omitting the wholesale stage. Despite these threats, wholesalers describe their situation as good, and their opinion can be confirmed in data provided by the Central Statistical Office. Conclusions: The market processes identified must be taken into

The energy in Colombia: A wholesale market; La energia en Colombia: Un mercado mayorista

Energy Technology Data Exchange (ETDEWEB)

NONE

1996-11-01

One year ago, the national government's energy politics, gave beginning to a novel strategy for the restructuring of the sector: The setting in march of the wholesale energy market -WEM - and the opening of the energy bag under the administration of interconnection electric S.A. E. P. S., ISA. After a year of works, the positive balance of the market and their permanent growth, are the best letter in presentation of this sector of the national economy. The wholesale energy market is conformed by generating companies. The generating ones are the companies with capacity of superior generation to the 20 MW that they are connected to the national interconnected system; it doesn't care if the origin of this energy is hydraulic, gas, coal or liquid fuel. The generators participate in the WEM with energy offers for price and with their long-term contracts. In the bag they can also offer or to buy energy the generators with capacity between 1 and 20 MW, registered in the National Center of Office CO of ISA, as WEM participants. These can be associated to a generator, to a distributor, to be conformed by one or several groups of big consumers or for organized companies for this purpose, as Mamonal in Cartagena. These users with more demand to 2 MW assisted in oneself place, receive the name of Not Regulated Clients -NRC - and they can hire their energy in free form. The commission of energy regulation and gas ERG modified the tops for these clients starting from January of 1997, the not regulated clients will be this way those that have a same demand or superior to 1 MW; and in January of 1998, bigger than 0.5 MW.

Entity’s Irregular Demand Scheduling of the Wholesale Electricity Market based on the Forecast of Hourly Price Ratios

Directory of Open Access Journals (Sweden)

O. V. Russkov

2015-01-01

Full Text Available The article considers a hot issue to forecast electric power demand amounts and prices for the entities of wholesale electricity market (WEM, which are in capacity of a large user with production technology requirements prevailing over hourly energy planning ones. An electric power demand of such entities is on irregular schedule. The article analyses mathematical models, currently applied to forecast demand amounts and prices. It describes limits of time-series models and fundamental ones in case of hourly forecasting an irregular demand schedule of the electricity market entity. The features of electricity trading at WEM are carefully analysed. Factors that influence on irregularity of demand schedule of the metallurgical plant are shown. The article proposes method for the qualitative forecast of market price ratios as a tool to reduce a dependence on the accuracy of forecasting an irregular schedule of demand. It describes the differences between the offered method and the similar ones considered in research studies and scholarly works. The correlation between price ratios and relaxation in the requirements for the forecast accuracy of the electric power consumption is analysed. The efficiency function of forecast method is derived. The article puts an increased focus on description of the mathematical model based on the method of qualitative forecast. It shows main model parameters and restrictions the electricity market imposes on them. The model prototype is described as a programme module. Methods to assess an effectiveness of the proposed forecast model are examined. The positive test results of the model using JSC «Volzhsky Pipe Plant» data are given. A conclusion is drawn concerning the possibility to decrease dependence on the forecast accuracy of irregular schedule of entity’s demand at WEM. The effective trading tool has been found for the entities of irregular demand schedule at WEM. The tool application allows minimizing cost

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.

Hybrid power markets in Africa: Generation planning, procurement and contracting challenges

International Nuclear Information System (INIS)

Malgas, Isaac; Eberhard, Anton

2011-01-01

African power sectors are generally characterised by insufficient generation capacity. Reforms to address poor performances in the 1990s followed a prescribed evolution towards power markets that would allow wholesale competition amongst generators and so lead towards efficiency improvements. Despite reforms being embarked, competitive power markets have not been established in Africa; rather, the result has been the emergence of hybrid markets where state-owned generators and IPPs operate devoid of competition; and although IPPs have emerged in a number of African power sectors, many countries still do not have sufficient generation to meet their electricity demands. This paper investigates the development of private generation power projects in Africa by analysing data collected from both primary and secondary sources in four case studies of power sectors in Ghana, Cote d'Ivoire, Morocco and Tunisia. It identifies how planning and procurement challenges have lead to difficulties in adding sufficient generation capacity in a timely manner, exacerbating the problem of insufficient generation capacity in Africa. It provides suggestions as to how these frameworks could respond more effectively to the capacity challenges faced by hybrid electricity generation markets, and how broader power sector reforms should be guided to reflect the challenges of hybrid markets better. - Research highlights: → The standard model of power sector reform should no longer be used as a progress measure of power sector development in Africa and many other developing countries. → The hybrid market should in itself be recognised as an established 'model' of power sectors in Africa and many developing countries. → Planning, procurement and contracting arrangements should be shaped specifically for hybrid markets in order to address the problem of insufficient generation capacity in developing countries.

From Market Uncertainty to Policy Uncertainty for Investment in Power Generation: Real Options for NPP on Electricity Market

International Nuclear Information System (INIS)

Tomsic, Zeljko

2014-01-01

In the electricity sector, market participants must make decisions about capacity choice in a situation of radical uncertainty about future market conditions. Sector is normally characterised by non-storability and periodic and stochastic demand fluctuations. In these cases capacity determination is a decision for the long term, whereas production is adjusted in the short run. Capacities need to be installed well in advance (decision for investment even earlier because of long construction time and even longer in case of NPP to prepare all needed legal, financial and physical infrastructure), at times when firms face considerable demand and cost uncertainty when choosing their capacity. Paper looks on the main contributions in investment planning under uncertainty, in particular in the electricity market for capital intensive investments like NPP. The relationship between market and non-market factors (recent UK policy example) in determining investment signals in competitive electricity markets was analysed. Paper analyse the ability of competitive electricity markets to deliver the desired quantity and type of generation capacity and also investigates the variety of market imperfections operating in electricity generation and their impact on long-term dynamics for generation capacity, the most capital-intensive of the liberalised functions in the electricity supply industry. Paper analyses how price formation influences investment signals. Today, investment decisions are made by several operators that act independently. Number of factors (including market power, wholesale price volatility, lack of liquidity in the wholesale and financial market, policy and regulatory risks etc.) contribute to polluting the price signal and generating sub-optimal behaviour. Climate change policies can easily distort market signals, insulating renewables generation from market dynamics. This in turn reduces the proportion of the market that is effectively opened to competitive

Co-Movement Analysis of Italian and Greek Electricity Market Wholesale Prices by Using a Wavelet Approach

Directory of Open Access Journals (Sweden)

George P. Papaioannou

2015-10-01

Full Text Available We study the co-evolution of the dynamics or co-movement of two electricity markets, the Italian and Greek, by studying the dynamics of their wholesale day-ahead prices, simultaneously in the time-frequency domain. Co-movement is alternatively referred as market integration in financial economics and markets are internationally integrated if the reward for risk is identical regardless the market one trades in. The innovation of this work is the application of wavelet analysis and more specifically the wavelet coherence to estimate the dynamic interaction between these two prices. Our method is compared to other generic econometric tools used in Economics and Finance namely the dynamic correlation and coherence analysis, to study the co-movement of variables of the type related to these two fields. Our study reveals valuable information that we believe will be extremely useful to the authorities as well as other agents participating in these markets to better prepare the national markets towards the European target model, a framework in which the two markets will be coupled.

Conceptual design and architecture of an informatics solution for smart trading on wholesale energy market in Romania

Directory of Open Access Journals (Sweden)

Adela BÂRA

2017-04-01

Full Text Available This paper presents conceptual design and architecture of an informatics solution that aims to implement analytical models for optimization and forecasting the electricity demand and generation, simulation and what if analysis for efficient trading activities on wholesale energy markets in Romania. The informatics solution will be developed as a prototype on a cloud computing platform in order to allow easy access to energy providers and network operators.

Search in the product market and the real business cycle

OpenAIRE

Mathä, Thomas Y.; Pierrard, Olivier

2009-01-01

Abstract Abstract Empirical evidence suggests that most firms operate in imperfectly competitive markets. We develop a search-matching model between wholesalers and retailers. Firms face search costs and form long-term relationships. Price bargain results in both wholesaler and retailer markups, which depend on firms? relative bargaining power. We simulate the general equilibrium model and explore the role of product market search frictions for business cycles. We conclu...

Area price and demand response in a market with 25% wind power

DEFF Research Database (Denmark)

Grohnheit, Poul Erik; Møller Andersen, Frits; Larsen, Helge V.

2011-01-01

Denmark, east and west of the Great Belt are bidding areas with separate hourly area prices for the Nord Pool power exchange, covering four Nordic countries and parts of Germany. The share of wind power has now increased to 25% on an annual basis in western Denmark. This has a significant impact...... not only on the electricity wholesale prices, but also on the development of the market. Hourly market data are available from the website of Danish TSO from 1999. In this paper these data are analysed for the period 2004–2010. Electricity generators and customers may respond to hourly price variations......, which can improve market efficiency, and a welfare gain is obtained. An important limitation for demand response is events of several consecutive hours with extreme values. The analysis in this paper is a summary and update of some of the issues covered by the EU RESPOND project. It shows that extreme...

The Home-based Advantages and a Hierarchy of Location Advantages: Foreign and British-owned Firms in the London Wholesale Insurance Market

OpenAIRE

Lilach Nachum

2003-01-01

This study seeks to explain why, in some cases, locationally advantageous countries attract foreign firms, who develop dominant competitive positions in the market, rather than facilitate the development of internationally competitive national firms, as theory suggests. Comparative analyses of samples of foreign and British-owned insurance firms in the London wholesale insurance market are used to establish a hierarchy of location advantages in terms of their competitive importance. It is sho...

Competition policies on the electricity markets

International Nuclear Information System (INIS)

Dubois, U.

2008-01-01

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

Demand response in U.S. electricity markets: Empirical evidence

International Nuclear Information System (INIS)

Cappers, Peter; Goldman, Charles; Kathan, David

2010-01-01

Empirical evidence concerning demand response (DR) resources is needed in order to establish baseline conditions, develop standardized methods to assess DR availability and performance, and to build confidence among policymakers, utilities, system operators, and stakeholders that DR resources do offer a viable, cost-effective alternative to supply-side investments. This paper summarizes the existing contribution of DR resources in U.S. electric power markets. In 2008, customers enrolled in existing wholesale and retail DR programs were capable of providing ∝38,000 MW of potential peak load reductions in the United States. Participants in organized wholesale market DR programs, though, have historically overestimated their likely performance during declared curtailments events, but appear to be getting better as they and their agents gain experience. In places with less developed organized wholesale market DR programs, utilities are learning how to create more flexible DR resources by adapting legacy load management programs to fit into existing wholesale market constructs. Overall, the development of open and organized wholesale markets coupled with direct policy support by the Federal Energy Regulatory Commission has facilitated new entry by curtailment service providers, which has likely expanded the demand response industry and led to product and service innovation. (author)

Market surveillance in Ontario

International Nuclear Information System (INIS)

Chandler, H.

2002-01-01

On May 1, 2002 both wholesale and retail electricity markets in Ontario were opened to competition. Wholesale electricity market sales of 150 TWh were valued at over $11 billion with 27,500 MW in service installed capacity and 4,000 to 6,000 MW import/export capability with strong interconnections to the Quebec, the Midwest and the Northeast. The key players in Ontario's electricity market are the Ontario Energy Board (OEB), the Independent Electricity Market Operator (IMO), Ontario Power Generation, and Hydro One. The OEB regulatory framework includes licensing and front line, daily monitoring of whole sale market. Serious capacity problems in Ontario have manifested themselves in tight supply and demand situations and highly volatile prices. The paper included graphs of available reserves for 1996 to 2002, HOEP trends and frequency, HOEP comparison, and a sensitivity to demand forecast. 1 tab., 6 figs

Is a liquid and competitive wholesale market feasible in BC?

International Nuclear Information System (INIS)

El-Ramly, A.

2004-01-01

This presentation outlined the principle market movements that helped build the electric power industry in British Columbia, from 1860 to the present. Today, British Columbia is a major player in interconnected and disconnected western markets that include Alberta, the gateway to California, California and the southwest. A profile of these markets was presented with reference to programs, regulations and services that have been launched since 1988. The impetus for change was discussed with reference to load resource balance in British Columbia; the drive for private investment; an improved provincial economy; and price stability, reduced volatility and low prices which are allowing market participants to focus on new developments. It was noted that the momentum is in place to take progressive measures in opening the regulatory process regarding power transmission and opening new markets to the east and south. The bad market powers at play were also described with reference to policy that dilutes innovation, heritage contracts, and the lack of interest by industrial customers in an open access market. This presentation also included a mid-term Alberta Power Pool price forecast and BC transmission activity. It was noted that in dollar terms, British Columbia has been a net importer from the United States since the third quarter in 2004 because of its supply shortage and unexpectedly high demand growth. BC has maintained a surplus with respect to Alberta, by arbitraging between the on-peak and off-peak hours. This trend presents opportunities for independent power producers (IPP). It was concluded that the BC power industry is in much better shape than any of the deregulated markets. Its heritage contract protects rate payers and the market is opening up cautiously. tabs., figs

Electricity and gas market observatory 1. Quarter 2009

International Nuclear Information System (INIS)

2009-01-01

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

European Food and Drink Wholesalers and Sustainability

Directory of Open Access Journals (Sweden)

Peter Jones

2017-01-01

Full Text Available Purpose- The aim of this paper is to review and reflect on the sustainability agendas and achievements reported by Europe's leading food and drinks wholesalers. Design/Methodology/Approach- The paper begins with a short introduction to corporate sustainability, sustainability reporting and food and drinks wholesaling within Europe and the empirical material for the paper is drawn from reports and information posted on the leading food and drinks wholesalers' corporate websites. Findings- There are marked variations in the extent to which Europe's leading food and drinks wholesalers reported and provided information on their sustainability agendas and achievements. These agendas and achievements embraced a wide range of environmental, social and economic issues but the reporting process had a number of weaknesses that undermine its transparency and credibility. The authors also argue that the leading food and drinks wholesalers' definitions of, and commitments to, sustainability are principally driven by business imperatives as by any fundamental concern to maintain the viability and integrity of natural and social capital. More critically the authors argue that this approach is couched within existing business models centred on continuing growth and consumption Limitations- The paper is a preliminary review of the sustainability agendas and achievements publicly reported by Europe's leading food and drinks wholesalers. Originality- The role of Europe's wholesale sector in addressing sustainability has received scant attention in the academic literature and this paper will interest academics and students in business management and marketing and employees and executives working in the distribution sector of the economy.

THE DEVELOPMENT OF NEW ORGANIZATION FORMS OF WHOLESALE TRADE ENTERPRISES IN RUSSIA

Directory of Open Access Journals (Sweden)

Andrey N. Vashchekin

2015-01-01

Full Text Available The new conditions of wholesale business in Russia, formed by the economicreforms, led the formation and development of qualitatively different tradingactivity forms, new organization types,which involves reconsideration of traditional wholesale enterprises modelingconcepts. In the near future market willbe dominated with wholesale and retail associations. Competing with each other, they will gradually grow by the additionof small commercial enterprises. Thereis also the emergence of not previouslyencountered universal dual-use forms of trade organization resulting from thepenetration of network technologies in management.

Electricity and gas market observatory. 4. Quarter 2008

International Nuclear Information System (INIS)

2008-01-01

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

Latin America: market mechanisms and supply adequacy in power sector reforms

Energy Technology Data Exchange (ETDEWEB)

Hammons, T.J. [University of Glasgow, Glasgow (United Kingdom); Barroso, L.A. [PSR, Rio de Janeiro (Brazil); Rudnick, H. [Pontificia Universidad Catolica de Chile, Santiago (Chile)

2011-03-15

The process of transformation in government and operations in the power sector leads to interaction between increasing integrated markets and public agencies in charge of policy making, regulation and control. This is examined for Latin America where state and marketing power sector planning, contract auctions to assure supply adequacy in an uncertain market environment, cross-border contracts, financing challenges for generation investments, and auctions of contracts to secure supply adequacy in the second stage of power sector reform are discussed. First, the state and market in power sector planning reform and state policies in Latin America are considered. Here, present concerns; the state-market relationship (the position of regulation, globalisation, internationalisation), and state market in the energy sector (correction and adjustments) are reviewed. Case studies for Argentina and Brazil are briefly outlined. The paper then examines contract auctions to assure supply adequacy in an uncertain energy environment that are being explored to face supply problems over recent years in the Chilean electricity market, taking into account the unexpected restrictions in natural gas transfers from Argentina. Also discussed are supply adequacy mechanisms and cross-border contracts in the Central American regional electricity market including firm transmission rights and financing challenges for generation investments. The final part of the paper discusses auctions of contracts and energy call options to ensure supply adequacy in the Brazilian power sector reform. Here, first stage of power sector reform, what went wrong, the second stage of reform and the move towards energy supply auctions, energy supply auctions so far and what's next in the challenges of environmental constraints and electricity-gas integration are reviewed. The reform being proposed to the electric regulatory framework for wholesale transactions in Peru is also reviewed. Considered are bids for

Electricity and gas market observatory. 3. Quarter 2007

International Nuclear Information System (INIS)

2007-01-01

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

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)

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)

Status and economics of fish markets in Rajshahi City Corporation of Rajshahi, Bangladesh

Directory of Open Access Journals (Sweden)

Md. Istiaque Hossain

2015-04-01

Full Text Available Objective: To understand the existing fish distribution and marketing systems, assess marketing costs and margins and identify constraints of fish marketing systems. Methods: Data were collected from three different markets by fishermen, commission agents, wholesalers, retailers, day laborers etc. through questionnaire interviews and participatory approach during June to September, 2013. Results: Four types of marketing channel were identified from farmers to consumers in all the three fish markets through a number of intermediaries. The daily supply of total fish in Binodpur Market, Talaimari Market and Shaheb Market was estimated 0.8-1 ton, 0.2-0.3 ton and 8-8.1 ton, respectively. Virtually, most of the fish (75% is imported from outside; the local supply amount is only 25%. The total marketing cost of wholesalers and retailers of the three markets were $ 8.58 and $ 6.47 per day, respectively. The average marketing margin of the wholesalers and retailers of the three markets were $ 0.18 and $ 0.25 per kg respectively. Income of fisherman, wholesaler, retailer and day laborer was estimated at $ 350, $ 9.75, $ 6.48, and $ 1.69, respectively. Conclusions: Traders have broadly improved their food consumption, standards of living, purchasing power, choice and ability as an economic sector.

77 FR 27763 - Quantum Choctaw Power, LLC, USG Nevada LLC, et al.; Notice of Effectiveness of Exempt Wholesale...

Science.gov (United States)

2012-05-11

... DEPARTMENT OF ENERGY Federal Energy Regulatory Commission [Docket Nos. EG12-31-000; EG12-32-000; et al.] Quantum Choctaw Power, LLC, USG Nevada LLC, et al.; Notice of Effectiveness of Exempt Wholesale Generator Status Docket Nos. Quantum Choctaw Power, LLC EG12-31-000 USG Nevada LLC EG12-32-000...

Oligopolistic competition in wholesale electricity markets: Large-scale simulation and policy analysis using complementarity models

Science.gov (United States)

Helman, E. Udi

This dissertation conducts research into the large-scale simulation of oligopolistic competition in wholesale electricity markets. The dissertation has two parts. Part I is an examination of the structure and properties of several spatial, or network, equilibrium models of oligopolistic electricity markets formulated as mixed linear complementarity problems (LCP). Part II is a large-scale application of such models to the electricity system that encompasses most of the United States east of the Rocky Mountains, the Eastern Interconnection. Part I consists of Chapters 1 to 6. The models developed in this part continue research into mixed LCP models of oligopolistic electricity markets initiated by Hobbs [67] and subsequently developed by Metzler [87] and Metzler, Hobbs and Pang [88]. Hobbs' central contribution is a network market model with Cournot competition in generation and a price-taking spatial arbitrage firm that eliminates spatial price discrimination by the Cournot firms. In one variant, the solution to this model is shown to be equivalent to the "no arbitrage" condition in a "pool" market, in which a Regional Transmission Operator optimizes spot sales such that the congestion price between two locations is exactly equivalent to the difference in the energy prices at those locations (commonly known as locational marginal pricing). Extensions to this model are presented in Chapters 5 and 6. One of these is a market model with a profit-maximizing arbitrage firm. This model is structured as a mathematical program with equilibrium constraints (MPEC), but due to the linearity of its constraints, can be solved as a mixed LCP. Part II consists of Chapters 7 to 12. The core of these chapters is a large-scale simulation of the U.S. Eastern Interconnection applying one of the Cournot competition with arbitrage models. This is the first oligopolistic equilibrium market model to encompass the full Eastern Interconnection with a realistic network representation (using

Supply assurance in the electricity market. Is the investment dilemma the result of inefficient market design?; Versorgungssicherheit auf Elektrizitaetsmaerkten. Investitionsdilemma durch ineffizientes Marktdesign?

Energy Technology Data Exchange (ETDEWEB)

Buedenbender, Martin [Muenster Univ. (Germany). Inst. fuer Genossenschaftswesen; Janssen, Matthias; Wobben, Magnus [Muenster Univ. (Germany). Lehrstuhl Volkswirtschaftstheorie

2009-03-15

This article addresses the investment dilemma in the area of power generation, which in insufficiently designed, liberalized power markets leads macroeconomically to undesirably low levels of energy supply security. The prime causes for this dilemma in the German power market are rooted first in damages for suppliers which are limited in cases of generation capacity-induced power failures and second in the time delay between the final trading opportunity and the actual power delivery. The latter inhibits the ability to individually balance unexpected changes in rates of power generation and discharge at any time. Furthermore, the following factors contribute to an intensification of the dilemma: insufficient end user participation in the wholesale market, a lack of single end user cut-off options, as well as time lags in the construction of generation capacities combined with various market uncertainties. Potential approaches to a sustainable improvement of supply security include on the one hand an increase in liquidity of intraday trading to align market clearing and power delivery as closely as possible. The promotion of direct marketing for renewable energy along with other strategies will lead to such an improvement. On the other hand, end users' utilization of smart meters should be enhanced. Thus, peak load could be moderated and allows for the inclusion of end users' willingness to pay into the wholesale market. (orig.)

Organizational structure of power engineering of Kazakhstan. Chapter 4

International Nuclear Information System (INIS)

1998-01-01

Pathways of integration in Kazakhstan power engineering are considered and economic structure formation in the branch is revealed as well. In 1994 privatization plan for power engineering branch was accepted. All state enterprises were reorganize in to joint-stock companies. At that there is single state monopoly company - National Power System (NPS) Kazakhstanehnergo. NPS makes a wholesale market of electric energy at the expense of it generation at base power plants, additional purchase abroad, following transport in all regions and its selling to territorial power companies as well as separate buyers. Last time wide application of commercial principles in state sector is observed. For formation of wholesale and retail markets was organized Kazakhstan EnergoPool

Enron looking to international arena for growth via hydrocarbon/power schemes

International Nuclear Information System (INIS)

Williams, B.

1998-01-01

Enron Corp., one of the US pioneers in the business of comarketing hydrocarbons and electricity, is looking to the international arena to provide the bulk of its future growth. Following its successes emanating from opportunities created by the deregulation of the natural gas industry in the US, Enron has ventured into a new area: the wholesale electricity market, which is in the process of deregulating in the US and in Europe. Enron has gained an edge here by transferring its wholesale gas market expertise to the evolving new electric power market. With its wholesale strategy in place, Enron has trained its sights on the deregulating retail natural gas and electricity markets in the US and Europe

Alberta's electricity forwards market

International Nuclear Information System (INIS)

Andrews, D.

2002-01-01

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

Bluewater Power goes ERP route to address deregulation : case study

Energy Technology Data Exchange (ETDEWEB)

Broad, K. [Bluewater Power Distribution Corp., Sarnia, ON (Canada)

2009-05-15

Bluewater Power Distribution Corporation distributes electricity to 35,000 customers in southwestern Ontario, including residential customers, large industries and commercial establishments. Their distribution system network consists of more than 344 miles of overhead wires and 125 miles of underground wires. The company employs more than 90 full-time people and is the result of a merger of six local utilities in year 2000. Ontario's energy market was preparing to deregulate at the time of the merger. Under the deregulation rules, utilities in the province were required to provide unbundled bills and exchange customer electronic business transactions with energy retailers. New rules opened up the cost of power on the wholesale side, requiring utilities to conduct wholesale settlements with the Independent Electricity System Operator (IESO). The IESO manages Ontario's bulk electricity power system and operates the wholesale market. This article described the solution that Bluewater Power's information technology (IT) team found to support Ontario's local market, meet regulatory demands and adapt to future regulatory changes.

Electricity and gas market observatory. 2. Quarter 2007

International Nuclear Information System (INIS)

2007-01-01

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

Electricity and gas market observatory. 2. Quarter 2008

International Nuclear Information System (INIS)

2008-01-01

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

Competitive energy markets and nuclear power. Can we have both, do we want either?

International Nuclear Information System (INIS)

Thomas, Steve

2010-01-01

In 1987, the UK Conservative Party was re-elected promising to transform the electricity industry into a privatised competitive industry and to promote an expansion of nuclear power. Fulfilling both objectives was not possible. The nuclear plants were withdrawn from the sale and plans to build new plants were abandoned, but privatisation proceeded. In 2007, the Labour government began a new attempt to build nuclear plants to operate in the competitive electricity market, promising that no subsidies would be offered to them. By 2010, the utilities that were planning to build nuclear plants were beginning to suggest that 'support' in some form would be needed if they were to build new plants. More surprisingly, the energy regulator, Ofgem, cast doubt on whether a competitive wholesale electricity market would provide security of supply. In 1990, the UK government opted for a competitive electricity market over expanding nuclear power. Now, the option of opting for a competitive electricity market may not exist. However, this might not leave the way open for new nuclear plants. The expected cost of power from new nuclear plants is now so high that no more than one or two heavily subsidised plants will be built. (author)

Strategies of development of European power producers

International Nuclear Information System (INIS)

Heddebaut, D.

2007-12-01

This economical study answers the following questions: what is the dynamics of European power markets? What is the relative competitiveness of the different power production means? What are the determining factors of electricity wholesale prices? Who are the operators the most threatened by the rise of wholesale prices? To what extend power producers are impacted by the CO 2 constrain? Who are the most efficient producers? The analysis is based on 18 of the most representative groups of the European electric utilities. The first volume of the study presents the strategic perspectives of European power producers: dynamics and basic characteristics of European power markets, strategic options of European operators, typology and financial results of European power producers, scenarios of market reorganization according to Eurostaf (possible mega-mergers in the future, competition). Volume 2 makes a detailed analysis of the positioning and perspectives of the 18 selected groups: key figures, sourcing strategies, production means management, Eurostaf's diagnosis. (J.S.)

2004 Power marketing program. Draft environmental impact statement

International Nuclear Information System (INIS)

1996-04-01

The Sierra Nevada Region proposes to develop a marketing plan that would be implemented in the year 2005 and to allocate power to eligible entities within its marketing area in northern and central California and Nevada. Four alternatives were analyzed that are structured around the range of operations of the Central Valley Project hydroelectric system, levels of power purchases, and customer group allocations. The manner in which hydropower generating plants are operated is one of the fundamental differences across the alternatives. Operating the hydrosystem to provide peaking power (the maximize hydropower peaking alternative, which is similar to the no-action alternative), would provide up to 94 t MW of additional load-carrying capacity in comparison to baseload operations of the CVP system (the baseload alternative). Although it is not possible to determine where or when any lost capacity would be made up, building replacement capacity in response to the baseload alternative would result in land-use impacts and the use of natural and financial resources. Peaking also results in small but beneficial regional economic effects. Peaking and baseload alternatives result in different hourly air emission patterns. The peaking alternative results in annual reductions in air pollution and wastewater. Impacts within the CVP are limited to regulating reservoirs, which would have reduced pool-level fluctuations under the baseload alternative. The regional economic effects of the Sierra Nevada Region's power purchases are small regardless of CVP operations and depend on their quantity and whether they are firm or economy purchases. Changes in allocations co customer groups result in small regional effects that are dependent on assumptions made about customer access to wholesale energy markets

Policies and market factors driving wind power development in the United States

International Nuclear Information System (INIS)

Bird, Lori; Bolinger, Mark; Gagliano, Troy; Wiser, Ryan; Brown, Matthew; Parsons, Brian

2005-01-01

In the United States, there has been substantial recent growth in wind energy generating capacity, with growth averaging 24 percent annually during the past five years. About 1700 MW of wind energy capacity was installed in 2001, while another 410 MW became operational in 2002. During 2003, development activity has remained strong, with an estimated 1600 MW of capacity installed. With this growth, an increasing number of States are experiencing investment in wind energy projects: currently about half of all States host at least one wind power project. This paper explores the key factors at play in the 12 States in which a substantial amount of wind energy capacity has been developed or planned. Some of the factors that are examined include policy drivers, such as Renewable Portfolio Standards (RPS), Federal and State financial incentives; as well as market drivers, such as consumer demand for green power, natural gas price volatility, and wholesale market rules

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

Analysis of the Perolera and Gold pineapple into two main wholesalers central Colombia

Directory of Open Access Journals (Sweden)

Ana María Neira García

2016-05-01

Full Text Available In this work the behavior of the price of two varieties of pineapple Gold and wholesalers Perolera two plants in Colombia is analyzed. The techniques used were the cointegration and Granger causality test, for which prices were taken pineapple, in the period 2006-2011 of wholesale markets Corabastos (in the case of Bogotá and the Central Wholesale Itagui (for Medellin. The theoretical framework was the law of one price. The work proved that there is market integration in the process of price formation. The results allow us to see that there is independence between the prices of the two markets. Cointegration tests indicate that the series are cointegrated itself, so that in the absence of external shocks, the series converge in the long term. We conclude that, although there is no causal link between the markets, these are themselves integrated in the long run, evidencing a fulfillment of the law of one price. The study does not include an analysis of the distances between production areas and consumption centers to consider the effect of transport costs when setting the price. Future research could consider such variables as quality and consumer preferences.

Modelling prices in competitive electricity markets

International Nuclear Information System (INIS)

Bunn, D.W.

2004-04-01

Electricity markets are structurally different to other commodities, and the real-time dynamic balancing of the electricity network involves many external factors. Because of this, it is not a simple matter to transfer conventional models of financial time series analysis to wholesale electricity prices. The rationale for this compilation of chapters from international authors is, therefore, to provide econometric analysis of wholesale power markets around the world, to give greater understanding of their particular characteristics, and to assess the applicability of various methods of price modelling. Researchers and professionals in this sector will find the book an invaluable guide to the most important state-of-the-art modelling techniques which are converging to define the special approaches necessary for unravelling and forecasting the behaviour of electricity prices. It is a high-quality synthesis of the work of financial engineering, industrial economics and power systems analysis, as they relate to the behaviour of competitive electricity markets. (author)

Electricity and gas market observatory. 1. Quarter 2008

International Nuclear Information System (INIS)

2008-01-01

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

Electricity and gas market observatory. 4. Quarter 2007

International Nuclear Information System (INIS)

2007-01-01

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

Electric power's new competitive marketplace

International Nuclear Information System (INIS)

Hornick, R.; Zeppieri, J.; Rudden, K.

1993-01-01

Currently, competition is limited primarily to power generation, the sale of wholesale bulk power, and fuel substitution at the point of end use. However, within the next several years, the rivalry will focus on large, energy-intensive industrial and large commercial customers. Driven by the disparity in rates among neighboring and regional utilities, large users are expected to lobby aggressively for retail wheeling and access to new supplies. New competitors will provide customers with additional supply options, forcing traditional utilities to offer better prices and or service. Competition at the point of end use also will increase as the natural gas industry develops new end-use technologies, gas utilities compete more aggressively, and some state regulatory commissions promote fuel switching as part of integrated resource planning (IRP) and demand-side management (DSM). However, as long as electric utilities are subject to cost-based rate of return regulation within price-sensitive markets, they will be a competitive disadvantage. The paper discusses the following: competitive risks by market segment, wholesale markets, industrial markets, commercial markets, residential markets, and franchise markets

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)

Assessment of business activity of the organizations wholesale trade

Directory of Open Access Journals (Sweden)

Svetlana Alekseevna Soroka

2012-09-01

Full Text Available This paper is devoted to the issues related to the assessment of business activity of the enterprises in public service sphere. The importance of this problem is in the fact that an assessment of business activity is the basis for optimal management decisions to improve the efficiency of economic activities, sustainable development both of businesses in general and wholesale trade enterprises in particular. Wholesale trade enterprises fulfill a function of sales divisions and departments for the purchase of resources. An assessment of business activity of wholesale trade organizations, circumspected fulfillment of its functions by an organization, formation of complex long-term competitive advantages lead to increased production, restoration of economic connections and inter-regional integration of the consumer market, improve the efficiency of the trading process and sustainable development of the region as a whole

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 literature are presented as a starting point for the analysis in part 1 of the thesis. In part 2 power exchanges are considered as marketplaces with a specific type of functioning, which in turn involves interaction from participants. Finally the concrete output of these interactions is analyzed using empirical observations to estimate the level of competition on power exchanges. Part 3 of the thesis begins with an empirical estimation of the level of integration of European electricity markets. The level of integration is estimated using an econometric test based on power exchanges prices. Such an analysis shows a low level of market integration at the European level. In the next step of the analysis an attempt is made to explain the reasons for such low market integration. The hypothesis developed is that the actual wholesale market design at the European level lacks efficient transmission pricing. We then present some different theoretical approaches to transmission pricing (Nodal/Zonal) and an analysis of actual successful examples of integrated markets (PJM, Nord pool). We conclude by providing some empirical evidence of inefficient transmission pricing in Europe. Finally we argue that the creation of an integrated market requires design at the European level rather than national market design

Debt and market power challenges return: Responses to set-back taking shape

Energy Technology Data Exchange (ETDEWEB)

NONE

2002-12-01

The reaction of the energy sector to the recent re-entry of the Ontario government into the commodity side of the electricity business with its announcement of a residential power price freeze and accompanying adjustments to the energy regime in Ontario is discussed. John Brace, the President of the Independent Power Producers' Society of Ontario (IPPSO) predicts that the action has created an urgent need for power generators and other players to work closely together to sort out the implications and put new mechanisms in place to allow the system to function properly and to create pressures to bring things back into balance. While popular with residential consumers, the government action sparked significant criticism across the energy industry and has upset traditional allegiances among groups which have supported the establishment of a competitive market, such as the Toronto Board of Trade, Stakeholders Alliance for Competition, (SAC), and the Association of Major Power Consumers in Ontario. The Toronto Board of Trade reacted by urging the province to (1) abandon the proposal to introduce a price freeze; (2) respect the independent role and mandate of the Ontario Energy Board in regulating the market and determining electricity prices; (3) provide for active and ongoing involvement by the private sector in developing new supply; and (4) include a strong educational and communications component in its conservation program. The SAC questioned the long-term benefits of the government's move and envisaged serious danger to Ontario's ability to develop new generation capacity. It recommended government action on encouraging more electricity supply in Ontario; continued decontrol of Ontario Power Generation (OPG, the former Ontario Hydro) assets; keeping intact the basic open market; and ensuring the continued financial well-being of local distribution companies. The Ontario Energy Association (OEA) also expressed its concern over the serious

Debt and market power challenges return: Responses to set-back taking shape

International Nuclear Information System (INIS)

2002-01-01

The reaction of the energy sector to the recent re-entry of the Ontario government into the commodity side of the electricity business with its announcement of a residential power price freeze and accompanying adjustments to the energy regime in Ontario is discussed. John Brace, the President of the Independent Power Producers' Society of Ontario (IPPSO) predicts that the action has created an urgent need for power generators and other players to work closely together to sort out the implications and put new mechanisms in place to allow the system to function properly and to create pressures to bring things back into balance. While popular with residential consumers, the government action sparked significant criticism across the energy industry and has upset traditional allegiances among groups which have supported the establishment of a competitive market, such as the Toronto Board of Trade, Stakeholders Alliance for Competition, (SAC), and the Association of Major Power Consumers in Ontario. The Toronto Board of Trade reacted by urging the province to (1) abandon the proposal to introduce a price freeze; (2) respect the independent role and mandate of the Ontario Energy Board in regulating the market and determining electricity prices; (3) provide for active and ongoing involvement by the private sector in developing new supply; and (4) include a strong educational and communications component in its conservation program. The SAC questioned the long-term benefits of the government's move and envisaged serious danger to Ontario's ability to develop new generation capacity. It recommended government action on encouraging more electricity supply in Ontario; continued decontrol of Ontario Power Generation (OPG, the former Ontario Hydro) assets; keeping intact the basic open market; and ensuring the continued financial well-being of local distribution companies. The Ontario Energy Association (OEA) also expressed its concern over the serious implications to Ontario

Wholesale water market application for assured energy certificates allocation among hydroelectric power plants; Aplicacao de um mercado atacadista de agua para reparticao dos certificados de energia assegurada entre usinas hidreletricas

Energy Technology Data Exchange (ETDEWEB)

Pinto, Andre Dias

2007-09-15

The objective of this dissertation is to revise the methodology used in the calculation of assured energy certificates for hydro plants, in particular the relation among the objectives of reliability and market mechanisms with the certificates. The relationship between the economic signals provided by the market 'spot' of electricity with the certificates will be analyzed. It will be shown that the spot price payment does not provide the correct and necessary incentives for the energy certificates allocation in a cascade with agents belonging the different companies. Upstream reservoirs are not property compensated for the regulation of the energy production of the entire cascade and, as solution, alternative scheme to remunerate the water resources (wholesale water market) will be discussed. The assured energy certificates will be calculated with the proposed methodology and compared with nowadays practiced in the Brazilian system. (author)

The influence of spatial effects on wind power revenues under direct marketing rules

International Nuclear Information System (INIS)

Grothe, Oliver; Müsgens, Felix

2013-01-01

In many countries, investments in renewable technologies have been accelerated by fixed feed-in tariffs for electricity from renewable energy sources (RES). While fixed tariffs accomplish this purpose, they lack incentives to align the RES production with price signals. Today, the intermittency of most RES increases the volatility of electricity prices and makes balancing supply and demand more complicated. Therefore, support schemes for RES have to be modified. Recently, Germany launched a scheme which gives wind power operators the monthly choice to either receive a fixed tariff or to risk a – subsidized – access to the wholesale electricity market. This paper quantifies revenues of wind turbines under this new subsidy and analyzes whether, when and where producers may profit. We find that the position of the wind turbine within the country significantly influences revenues in terms of EUR/MWh. The results are important for wind farm operators deciding whether electricity should be sold in the fixed feed-in tariff or in the wholesale market. However, no location is persistently, i.e., in every calendar month of the year, above the average. This limits the effect of the new subsidy scheme on investment locations and long term improvements in the aggregated wind feed-in profile. - Highlights: • Germany couples feed-in tariff for renewable energies to hourly market prices. • Analysis of position of wind turbines on relative revenues in EUR/MW. • Quantification of locational effect for policy makers and investors

The resurgence of DSM and the role of branding in power markets

Energy Technology Data Exchange (ETDEWEB)

Perrels, Adriaan [Goverment Inst. of Economic Research, VATT, Helsinki (Finland); Lewis, Philip [Univ. of Vaasa (FI). Nordic Centre for Expertise in Energy and Utilities Marketing (VaasaEmg)

2003-07-01

The liberalisation of electric power markets to date implies market strategies in which the attainment of sufficiently high profitability levels is combined with bulk-good characterisation of electricity and accompanying price competition. These inherently conflicting points of departure result in a reluctance to invest in new capacity, a drive towards the exploitation of economies of scale, and other cost reduction strategies. There is also evidence of the exploitation of other market imperfections, including price discrimination at the expense of apathetic and ill informed customers. This paper argues that further regulatory completion of the electric power markets within a sound social-economic and sustainability setting requires steps that incite the introduction of capacity scarcity signals in the retail pricing structure reflecting actual price levels in the wholesale markets. This implies for instance the (re)introduction of time-of-day (ToD) pricing signals. However, to warrant a broader and more lasting effectiveness this needs to be embedded in a wider DSM setting. One issue in this wider setting is the development of the notion of branding of electricity in relation to its qualities and sources of origin. It would provide the customers more choice and improves the possibilities for electricity companies to better exploit the multi-facetted added-value potential of electric power. It requires a regulator that is willing to ensure that further development of added-value is strongly inspired by sustainability objectives. Furthermore, the challenge for the electricity company is to find a branding approach that appeals to customers and is meaningful from a sustainability point of view. Keywords Branding, demand side management, electricity markets, electricity marketing, energy labelling, product differentiation, green energy, green prices, business ethics, Nordic and European power markets.

Electricity and gas market observatory. 1. quarter 2007

International Nuclear Information System (INIS)

2007-01-01

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

Electricity and gas market observatory. 4. quarter 2006

International Nuclear Information System (INIS)

2007-01-01

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

Electricity and gas market observatory. 1. quarter 2007

Energy Technology Data Exchange (ETDEWEB)

NONE

2007-07-01

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

Electricity and gas market observatory. 4. quarter 2006

Energy Technology Data Exchange (ETDEWEB)

NONE

2007-07-01

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

The impact of Australian ETS news on wholesale spot electricity prices. An exploratory analysis

International Nuclear Information System (INIS)

Chevallier, Julien

2010-01-01

This article investigates the impact of news concerning the development of emissions trading in Australia (such as the Carbon Pollution Reduction Scheme (CPRS)) on wholesale electricity spot prices, by using a database of 117 news announcements from December 1, 1998 to July 1, 2009. As power producers constitute the bulk of the participants of the proposed Australian emissions trading scheme, regulatory changes (about allocation, banking, coverage, targets) are indeed likely to affect the five interconnected electricity markets in New South Wales, Queensland, South Australia, Victoria, and Tasmania. We assess these effects with an ARMA(1,1)-GARCH(1,1) model, where daily electricity spot prices are regressed against exogenous variables in the mean and variance equations. This article constitutes the first empirical analysis of Australian ETS news effects on electricity wholesale spot prices. Our results show two asymmetric types of news effects, depending on their information content. (author)

The impact of Australian ETS news on wholesale spot electricity prices. An exploratory analysis

Energy Technology Data Exchange (ETDEWEB)

Chevallier, Julien [Universite Paris Dauphine, Place du Marechal de Lattre de Tassigny, 75775 Paris Cedex 16 (France)

2010-08-15

This article investigates the impact of news concerning the development of emissions trading in Australia (such as the Carbon Pollution Reduction Scheme (CPRS)) on wholesale electricity spot prices, by using a database of 117 news announcements from December 1, 1998 to July 1, 2009. As power producers constitute the bulk of the participants of the proposed Australian emissions trading scheme, regulatory changes (about allocation, banking, coverage, targets) are indeed likely to affect the five interconnected electricity markets in New South Wales, Queensland, South Australia, Victoria, and Tasmania. We assess these effects with an ARMA(1,1)-GARCH(1,1) model, where daily electricity spot prices are regressed against exogenous variables in the mean and variance equations. This article constitutes the first empirical analysis of Australian ETS news effects on electricity wholesale spot prices. Our results show two asymmetric types of news effects, depending on their information content. (author)

The impact of Australian ETS news on wholesale spot electricity prices: An exploratory analysis

Energy Technology Data Exchange (ETDEWEB)

Chevallier, Julien, E-mail: julien.chevallier@dauphine.f [Universite Paris Dauphine, Place du Marechal de Lattre de Tassigny, 75775 Paris Cedex 16 (France)

2010-08-15

This article investigates the impact of news concerning the development of emissions trading in Australia (such as the Carbon Pollution Reduction Scheme (CPRS)) on wholesale electricity spot prices, by using a database of 117 news announcements from December 1, 1998 to July 1, 2009. As power producers constitute the bulk of the participants of the proposed Australian emissions trading scheme, regulatory changes (about allocation, banking, coverage, targets) are indeed likely to affect the five interconnected electricity markets in New South Wales, Queensland, South Australia, Victoria, and Tasmania. We assess these effects with an ARMA(1,1)-GARCH(1,1) model, where daily electricity spot prices are regressed against exogenous variables in the mean and variance equations. This article constitutes the first empirical analysis of Australian ETS news effects on electricity wholesale spot prices. Our results show two asymmetric types of news effects, depending on their information content.

New Brunswick Market Design Committee : Congestion management issues

International Nuclear Information System (INIS)

2001-01-01

The restructuring of the New Brunswick wholesale power market comprises a number of issues that need to be resolved concerning transmission system related policy decisions and detailed design issues. The wholesale market structure, ownership structure, and means of preventing market power abuses all have an impact on the resolution of many of those issues. Some transmission related decisions regarding congestion management must be made, and they are examined in this document. The report includes a discussion of the issues related to congestion on the transmission system, a review of the decisions that remain to be made while proposing a number of alternatives, reviews decisions that other jurisdictions have made in somewhat similar circumstances. Finally, the advantages and disadvantages of each alternative are identified. Several high level transmission tariff design issues requiring to be addressed later in greater detail are listed in this document. 1 tab

Measuring the competitiveness benefits of a transmission investment policy: The case of the Alberta electricity market

International Nuclear Information System (INIS)

Wolak, Frank A.

2015-01-01

Transmission expansions can increase the extent of competition faced by wholesale electricity suppliers with the ability to exercise unilateral market power. This can cause them to submit offer curves closer to their marginal cost curves, which sets market-clearing prices closer to competitive benchmark price levels. These lower wholesale market-clearing prices are the competitiveness benefit consumers realize from the transmission expansion. This paper quantifies empirically the competitiveness benefits of a transmission expansion policy that causes strategic suppliers to expect no transmission congestion. Using hourly generation-unit level offer, output, market-clearing price and congestion data from the Alberta wholesale electricity market from January 1, 2009 to July 31, 2013, an upper and lower bound on the hourly consumer competitiveness benefits of this transmission policy is computed. Both of these competitiveness benefits measures are economically significant, which argues for including them in transmission planning processes for wholesale electricity markets to ensure that all transmission expansions with positive net benefits to electricity consumers are undertaken. -- Highlights: •Define competitiveness benefits to consumers from transmission expansions in wholesale market. •Compute upper and lower bounds on competitiveness benefits for Alberta market. •Compare no-perceived congestion prices to actual prices to measure competitiveness benefits. •Economically substantial competitiveness benefits found for sample period studied. •To ensure adequate transmission, planning processes should account for these benefits

Game Theory: An Application to Tanners and 'Pomo' Wholesalers in ...

African Journals Online (AJOL)

Game Theory: An Application to Tanners and 'Pomo' Wholesalers in Hides Marketing Competition in Nigeria. ... Agricultural economics is an applied social science so game theory was applied practically from a ... AJOL African Journals Online.

Electricity market design and risk management

International Nuclear Information System (INIS)

Boschi, Federico; Cervigni, Guido

2005-01-01

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

Electricity and gas market observatory. 2. quarter 2007

International Nuclear Information System (INIS)

2007-01-01

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

Electricity and gas market observatory. 2. quarter 2007

Energy Technology Data Exchange (ETDEWEB)

NONE

2007-07-01

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

The players on the European gas market - 2008 edition

International Nuclear Information System (INIS)

Lecarpentier, Armelle

2008-02-01

In a context of growing dependence on extra-European sources, a growth potential in gas use for power generation and the acceleration of the liberalization process, the 2008 Edition of 'The Players on the European Gas Market' offers a unique detailed review of the positioning of players in both the upstream (production, reserves) and downstream (wholesale and retail supply) sectors of the gas chain. This 140-pages report, includes 55 tables and 29 figures, and presents an in-depth description of the European gas industry by country. The Survey 'The Players on the European Gas Market' provides: - The analysis of new upstream areas and production growth prospects, - Company rankings in terms of reserve and production volumes, - The complete overview of the whole European gas market (market characteristics, supply sources, consuming outlets, effective competition), - Strategies and key facts of the wholesale suppliers to Europe, - An in-depth review of national market structures, - The detailed positioning and analysis of national market power of the numerous companies involved in gas supply

The sector restructuring and the consequences on the planning and the marketing studies of the electric power distributors; A reestruturacao setorial e os reflexos sobre o planejamento e os estudos de mercado das distribuidoras de energia eletrica

Energy Technology Data Exchange (ETDEWEB)

Matsudo, Eduardo

2001-05-15

After the restructuring of the Brazilian power sector during the 1990's a new set of rules and players (regulators, traders, etc.) was introduced. This situation resulted in significantly impacting the distribution companies in terms of market risks and commercial opportunities. Electric power market assessments that provide fundamental information to the system and tariff planning groups can also be used to support the distribution companies in analyzing various questions within the new rules that have been created. These questions include such items as: how much energy should be contracted in the future in the wholesale market?; how much opportunity is available in offering commercial services to the customer?. This work describes the main changes that have occurred due to the restructuring, such as: the privatization process, a wholesale market implementation, rules for energy trading, and planning and regulatory process. The main challenges for distribution companies as a result of these changes are identified, especially focusing on energy trading in retail and wholesale markets. The process of electric power market assessments is presented and describing the accepted methodology used for demand forecasting for distribution companies. Information required by distribution companies in order to deal with the market challenges are specified - e.g. energy trading, market risks and customer relationship. It is concluded there is a need to obtain detailed information about consumers and to develop market forecast for specific time frame. It must take into consideration all the issues around the retail market - the study needs to analyze the basic factors that impact customer consumption. In order to improve the electric market assessment, it has been useful to apply specific models. After reviewing the existing tools for electric power market assessments (analysis and forecast), it has been found that the models that combined methods of end use analysis with

The sector restructuring and the consequences on the planning and the marketing studies of the electric power distributors; A reestruturacao setorial e os reflexos sobre o planejamento e os estudos de mercado das distribuidoras de energia eletrica

Energy Technology Data Exchange (ETDEWEB)

Matsudo, Eduardo

2001-05-15

After the restructuring of the Brazilian power sector during the 1990's a new set of rules and players (regulators, traders, etc.) was introduced. This situation resulted in significantly impacting the distribution companies in terms of market risks and commercial opportunities. Electric power market assessments that provide fundamental information to the system and tariff planning groups can also be used to support the distribution companies in analyzing various questions within the new rules that have been created. These questions include such items as: how much energy should be contracted in the future in the wholesale market?; how much opportunity is available in offering commercial services to the customer?. This work describes the main changes that have occurred due to the restructuring, such as: the privatization process, a wholesale market implementation, rules for energy trading, and planning and regulatory process. The main challenges for distribution companies as a result of these changes are identified, especially focusing on energy trading in retail and wholesale markets. The process of electric power market assessments is presented and describing the accepted methodology used for demand forecasting for distribution companies. Information required by distribution companies in order to deal with the market challenges are specified - e.g. energy trading, market risks and customer relationship. It is concluded there is a need to obtain detailed information about consumers and to develop market forecast for specific time frame. It must take into consideration all the issues around the retail market - the study needs to analyze the basic factors that impact customer consumption. In order to improve the electric market assessment, it has been useful to apply specific models. After reviewing the existing tools for electric power market assessments (analysis and forecast), it has been found that the models that combined methods of end use analysis with

The midstream markets

International Nuclear Information System (INIS)

Gurney, J.

1998-01-01

Intense activity by wholesale gas marketers and traders now characterises the post-deregulation natural gas industry''s transmission systems, once the sole preserve of powerful interstate pipeline companies. This has meant a shift in power from large companies with massive infrastructure investment to new smaller companies specialising in sophisticated business skills technology utilization. The history underpinning these changes is described in order to clarify the economic changes which have occurred. (UK)

Electricity market models and RES integration: The Greek case

International Nuclear Information System (INIS)

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

2014-01-01

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

Competitive energy markets and nuclear power. Can we have both, do we want either?

Energy Technology Data Exchange (ETDEWEB)

Thomas, Steve [Public Services International Research Unit (PSIRU), Business School, University of Greenwich, 30 Park Row, London SE10 9LS (United Kingdom)

2010-09-15

In 1987, the UK Conservative Party was re-elected promising to transform the electricity industry into a privatised competitive industry and to promote an expansion of nuclear power. Fulfilling both objectives was not possible. The nuclear plants were withdrawn from the sale and plans to build new plants were abandoned, but privatisation proceeded. In 2007, the Labour government began a new attempt to build nuclear plants to operate in the competitive electricity market, promising that no subsidies would be offered to them. By 2010, the utilities that were planning to build nuclear plants were beginning to suggest that 'support' in some form would be needed if they were to build new plants. More surprisingly, the energy regulator, Ofgem, cast doubt on whether a competitive wholesale electricity market would provide security of supply. In 1990, the UK government opted for a competitive electricity market over expanding nuclear power. Now, the option of opting for a competitive electricity market may not exist. However, this might not leave the way open for new nuclear plants. The expected cost of power from new nuclear plants is now so high that no more than one or two heavily subsidised plants will be built. (author)

Competitive energy markets and nuclear power: Can we have both, do we want either?

Energy Technology Data Exchange (ETDEWEB)

Thomas, Steve, E-mail: Stephen.thomas@gre.ac.u [Public Services International Research Unit (PSIRU), Business School, University of Greenwich, 30 Park Row, London SE10 9LS (United Kingdom)

2010-09-15

In 1987, the UK Conservative Party was re-elected promising to transform the electricity industry into a privatised competitive industry and to promote an expansion of nuclear power. Fulfilling both objectives was not possible. The nuclear plants were withdrawn from the sale and plans to build new plants were abandoned, but privatisation proceeded. In 2007, the Labour government began a new attempt to build nuclear plants to operate in the competitive electricity market, promising that no subsidies would be offered to them. By 2010, the utilities that were planning to build nuclear plants were beginning to suggest that 'support' in some form would be needed if they were to build new plants. More surprisingly, the energy regulator, Ofgem, cast doubt on whether a competitive wholesale electricity market would provide security of supply. In 1990, the UK government opted for a competitive electricity market over expanding nuclear power. Now, the option of opting for a competitive electricity market may not exist. However, this might not leave the way open for new nuclear plants. The expected cost of power from new nuclear plants is now so high that no more than one or two heavily subsidised plants will be built.

Demand side management in a day-ahead wholesale market: A comparison of industrial & social welfare approaches

International Nuclear Information System (INIS)

Jiang, Bo; Farid, Amro M.; Youcef-Toumi, Kamal

2015-01-01

Highlights: • We compare two demand side management in a day-ahead electricity wholesale market. • We develop and reconcile social welfare & industrial DSM mathematical models. • We show the industrial netload has an additional forecast quantity of baseline. • We analytically and numerically show the model equivalence with accurate baseline. • We numerically demonstrate the baseline errors lead to higher and costlier dispatch. - Abstract: The intermittent nature of renewable energy has been discussed in the context of the operational challenges that it brings to electrical grid reliability. Demand side management (DSM) with its ability to allow customers to adjust electricity consumption in response to market signals has often been recognized as an efficient way to mitigate the variable effects of renewable energy as well as to increase system efficiency and reduce system costs. However, the academic & industrial literature have taken divergent approaches to DSM implementation. While the popular approach among academia adopts a social welfare maximization formulation, the industrial practice compensates customers according to their load reduction from a predefined electricity consumption baseline that would have occurred without DSM. This paper rigorously compares these two different approaches in a day-ahead wholesale market context analytically and in a test case using the same system configuration and mathematical formalism. The comparison of the two models showed that a proper reconciliation of the two models might make them mitigate the stochastic netload in fundamentally the same way, but only under very specific conditions which are rarely met in practice. While the social welfare model uses a stochastic net load composed of two terms, the industrial DSM model uses a stochastic net load composed of three terms including the additional baseline term. DSM participants are likely to manipulate the baseline in order to receive greater financial

Competition for transparency as a carrier of competition. Transparency needs in the European wholesale electricity markets

International Nuclear Information System (INIS)

Jong, Hanneke de; Hakvoort, Rudi

2005-01-01

This paper analyses different transparency aspects regarding European wholesale electricity markets and discusses transparency issues to be solved. In Europe, currently some progress has been made with respect to market transparency but transparency issues related to transmission, system operation and regulation have received little attention so far. Transmission system operators (TSOs) and regulatory authorities need certain market information in order to secure efficient competition. However, TSOs and regulatory authorities need to communicate themselves in order to facilitate competition and decrease uncertainty among market participants. Furthermore, considering ongoing market integration both TSOs and regulatory authorities must exchange information amongst themselves in order to facilitate coordination and monitoring activities. The effect of a higher level of transparency on effective competition is depended on two categories of transparency aspects: aspects that are related to transparency in the sense of open and adequate communication (perspicuity) and aspects that are related to the easiness to understand (clarity). Transparency includes both aspects. Pursuing overall harmonization of the European transparency level is important to fully profit from a higher level of (international) harmonization. Effective harmonization requires harmonization on all communication aspects. For Europe, with its many immature markets, the dilemma remains whether it is preferable to have less transparency with a high level of harmonization or to have a higher level of transparency but a lower level of harmonization. (Author)

NordREG report on the price peaks in the Nordic wholesale market during winter 2009-2010. Final report

Energy Technology Data Exchange (ETDEWEB)

2011-01-15

improvements is transparency. Based on the consultancy study and the feedback from some stakeholders, NordREG finds that it should be assessed whether the area bidding curves at Nord Pool Spot could be publicized to enhance the transparency of the market and to enable all the market participants to have access to the trading data. Transparency in the Nord Pool Spot bid data would enhance confidence in market developments. NordREG also proposes that the trading mechanisms at the Nord Pool Spot should be assessed. This assessment should especially focus on how to increase flexibility into the market, how to improve pricing and offering of peak load reserves to the Nord Pool Spot and how to improve possibilities to hedge area price risks. NordREG emphasizes that the development of the Nord Pool Spot trading mechanism and its transparency should be prepared together with the Nord Pool Spot. Finally, one of the key issues for ensuring a well-functioning electricity wholesale market is the optimal and sufficient transmission network with its cross-border interconnectors that support the wholesale electricity market. Traditionally the Nordic TSOs used to cooperate in the area of grid planning and produced Nordic Grid Master Plans. The Nordic Council of Energy Ministers has underlined the importance of continued Nordic grid planning. The 3rd Legislative Package raised the cooperation of TSOs on grid planning to the European level and as a task for the European TSO organisation ENTSO-E, which has organised regional groupings of TSOs to work on grid planning. ENTSO-E published the pilot Ten Year Network Development Plan in June 2010 and the process for preparing the next one is already underway. This planning work and the results of it that will materialise themselves through transmission network investments will have a significant impact on the functioning of the Nordic, Northern and the whole European electricity wholesale market and its integration. This work needs to be analyzed and

Risk premiums in the German day-ahead Electricity Market

International Nuclear Information System (INIS)

Viehmann, Johannes

2011-01-01

This paper conducts an empirical analysis of risk premiums in the German day-ahead Electricity Wholesale Market. We compare hourly price data of the European Energy Exchange (EEX) auction and of the continuous over-the-counter (OTC) market which takes place prior to the EEX auction. Data provided by the Energy Exchange Austria (EXAA) has been used as a snapshot of the OTC market two hours prior to the EEX auction. Ex post analysis found market participants are willing to pay both significant positive and negative premiums for hourly contracts. The largest positive premiums were paid for high demand evening peak hours on weekdays during winter months. By contrast, night hours on weekends featuring lowest demand levels display negative premiums. Additionally, ex ante analysis found a strong positive correlation between the expected tightness of the system and positive premiums. For this purpose, a tightness factor has been introduced that includes expectations of fundamental factors such as power plant availability, wind power production and demand. Hence, findings by can be supported that power traders in liberalised markets behave like risk-averse rational economic agents. - Research highlights: →Analysis of hourly risk premiums in the German day-ahead Electricity Wholesale Market. →Market participants are willing to pay both significant positive and negative premiums for hourly contracts. →A strong correlation exists between the expected tightness of the power system and premiums.

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)

Optimal DG placement in deregulated electricity market

International Nuclear Information System (INIS)

Gautam, Durga; Mithulananthan, Nadarajah

2007-01-01

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

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

Emissions trading and firms' strategies. The case of power producers

International Nuclear Information System (INIS)

Rousse, O.

2005-11-01

This thesis deals with the impacts of a domestic emissions trading scheme on firms' strategies. As recent experiences of such programs (Acid Rain Program, RECLAIM Program, NOx Budget Program and the European Union Emissions Trading Scheme) concern mainly heat and power producers, we analyze especially strategies of these companies. In context of electricity market deregulation, our study takes two directions: uncertainty and competitive distortions. Concerning uncertainty, we are interested in portfolio management of emission permits, that is choice under uncertainty between buying, selling and banking permits. Concerning competitive distortions, we consider manipulations on the permits and/or products markets. Among others, we investigate interactions between a pollution market and the wholesale electricity market. From a general point of view, we show that a permits market, even competitive, gives to power producers more opportunities to act strategically on wholesale electricity markets. By this way, our study attempts to indicate when these market distortions are more likely to occur and to give some emissions market design instructions. (author)

Economic impacts of electricity liberalization on the status of nuclear power generation in the United States

International Nuclear Information System (INIS)

Hattori, Toru

2015-01-01

This paper discusses the economic impact of electricity liberalization on the status of nuclear power generation in the United States. Nuclear power plants have been treated equally with other types of power plants in the liberalized electricity market. The existing nuclear power plants were thought to be competitive in liberalized wholesale electricity market. Competitive pressure from the market also facilitated efficiency improvement among the existing nuclear power plants. Although it was difficult to build new reactor, the U.S. nuclear power generators expanded capacity through up rates. In recent years, however, nuclear power plants suffer from the decline in wholesale power prices and some of them are forced to retire early. Although there are some market design issues that could be improved to maintain the efficient nuclear power plants in competitive environment, it is now argued that some additional arrangements to mitigate the investment risks of the nuclear power plants are necessary. (author)

Electricity and gas market observatory. 1. Quarter 2007

International Nuclear Information System (INIS)

2007-01-01

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

Electricity and gas market observatory. 4. Quarter 2006

International Nuclear Information System (INIS)

2006-01-01

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

Design and Operation of Distribution Markets

Science.gov (United States)

Parhizi, Sina

The growing penetration of distributed prosumers especially microgrids poses new challenges to the operation of wholesale markets and distribution power systems. Price spikes and higher uncertainty are among these consequences. Distribution markets are envisioned as a remedy to streamline integration of distributed resources and microgrids in the electricity market. This dissertation offers an analytical formulation of electricity markets in the distribution level, considering various prevailing aspects of the market operation problem. The prevailing challenges in regards to integration of microgrids in the electricity markets are illustrated first, and the distribution market operator (DMO) construct is outlined. The day-ahead scheduling of a microgrid participating in a DMO market is formulated and studied. Then the operation of distribution markets integrated with large numbers of responsive participants is considered, and its transactions with the distribution market participants on one hand, and the wholesale market on the other hand are modeled and studied. The market settlement and clearing, essential in operation of distribution markets, is considered and solved. The pricing mechanism in a distribution market is proposed and the relation of distribution and transmission and distribution prices is studied. A more advanced pricing mechanism considering voltages and reactive power is developed and studied. In order to offer a more accurate pricing structure within the distribution system, a linearized distribution power flow is utilized. The performance of the proposed methods is analyzed and the results are presented. Markets have been recently envisioned to be a suitable instrument for integration of distributed energy resources in the distribution system, but most of the discussions surrounding this topic is at the conceptual level. In this work, it is demonstrated that distribution markets are effective in integrating microgrids and distributed resources

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)

Prices vs. quantities. Incentives for renewable power generation. Numerical analysis for the European power market

Energy Technology Data Exchange (ETDEWEB)

Nagl, Stephan

2013-02-15

In recent years, many countries have implemented policies to incentivize renewable power generation. This paper outlines the effects of weather uncertainty on investment and operation decisions of electricity producers under a feed-in tariff and renewable quota obligation. Furthermore, this paper tries to quantify the sectoral welfare and investments risks under the different policies. For this purpose, a spatial stochastic equilibrium model is introduced for the European electricity market. The numerical analysis suggests that including the electricity market price in renewable policies (wholesale price + x) reduces the loss of sectoral welfare due to a renewable policy by 11-20 %. Moreover, investors face an only slightly higher risk than under fixed price compensations. However, electricity producers face a substantially larger investment risk when introducing a renewable quota obligation without the option of banking and borrowing of green certificates. Given the scenario results, an integration of the hourly market price in renewable support mechanisms is mandatory to keep the financial burden to electricity consumers at a minimum. Additionally, following the discussion of a European renewable quota after 2020, the analysis indicates the importance of an appropriate banking and borrowing mechanism in light of stochastic wind and solar generation.

Assessing the impact of forward trading, retail liberalization, and white certificates on the Italian wholesale electricity prices

International Nuclear Information System (INIS)

Petrella, Andrea; Sapio, Alessandro

2012-01-01

How do policy actions affect the dynamics of deregulated electricity prices? We investigate this issue in the context of the Italian Power Exchange (IPEX), using data on the daily average day-ahead price (PUN) between April 2004 and December 2008. Estimates of baseline time series models (SARMAX and SARMAX-EGARCH) and their forecasting performances suggest that the trend in natural gas prices, market power indicators, deterministic weekly patterns, perceived temperatures, persistence in conditional volatility, and the inverse leverage effect are essential features of the PUN dynamics. We then augment the best-performing models with dummies that account for changes in the market architecture, such as the introduction of contracts for differences (CfDs) to support renewables, trading of white certificates for energy efficiency, and the demand-side liberalization. The findings show that changes in the market architecture affected both the PUN level and its volatility. Specifically, wholesale electricity prices and volatility appear to have decreased upon the introduction of CfDs, only to be pushed upwards following the start of white certificates' trading and retail liberalization. Moreover, after controlling for reforms the inverse leverage effect vanishes, and the persistence in volatility is lower than in the baseline estimates. - Highlights: ► We model Italian wholesale power prices using SARMAX and EGARCH models. ► We assess the price impact of contracts for differences, retail liberalization, white certificates. ► The electricity price level and its volatility have increased after the adoption of contracts for differences. ► Following retail liberalization and the start of white certificates trading, the price level and its volatility have increased.

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.

Essays on microgrids, asymmetric pricing and market power in electricity markets

Science.gov (United States)

Lo Prete, Chiara

This dissertation presents four studies of the electricity industry. The first and second essays use economic-engineering models to assess different aspects of microgrid penetration in regional electricity markets, while the last two studies contain empirical analyses aimed at evaluating the performance of wholesale electricity markets. Chapter 2 develops a framework to quantify economic, environmental, efficiency and reliability impacts of different power production scenarios in a regional system, focusing on the interaction of microgrids with the existing transmission and distribution grid. The setting is the regional network formed by Belgium, France, Germany and the Netherlands. The study presents simulations of power market outcomes under various policies and levels of microgrid penetration, and evaluates them using a diverse set of metrics. Chapter 3 studies the interaction between a microgrid and a regulated electric utility in a regional electricity market. I consider the interaction among the utility, the microgrid developer and consumers in the framework of cooperative game theory (assuming exchangeable utility), and use regional market models to simulate scenarios in which microgrid introduction may or may not be socially beneficial. Under the assumptions of this chapter, customer participation is essential to the development of socially beneficial microgrids, while the utility has little or no gain from it. Discussed incentives to avoid that utilities block microgrid entry include additional revenue drivers related to microgrid connection, decoupling and performance-based mechanisms targeted at service quality. When prices are below marginal costs of utility provided power, microgrid development may be socially beneficial, but unprofitable for microgrid customers and its developer. By imposing lower charges and higher remuneration for its services, the regulator could ensure that microgrid value is positive, without adversely impacting the utility

The potential for electricity market restructuring in Quebec

International Nuclear Information System (INIS)

Clark, C.R.; Leach, A.

2007-01-01

Throughout the world, electricity market liberalization has taken place or is currently underway. However, in Canada, the province of Quebec has undertaken limited restructuring measures. Considerable debate as to the potential for further market restructuring has been ongoing. This article discussed the potential for future electricity market restructuring in Quebec where competition in electricity supply has resulted in 3 categories of supply distribution, including a block of energy and power known as the heritage pool. This article considered the political economy of the abolishment if the heritage pool requirement, which caps wholesale prices. The article presented a statistical overview of Quebec's electricity market and discussed the regulatory environment. It also identified the potential for market restructuring and the establishment of a competitive wholesale market. It was concluded that Quebecers could significantly benefit from any restructuring initiative that involved the elimination of the Heritage Pool requirement if the extra rents were properly redistributed and that production sector restructuring would be difficult. 37 refs., 3 tabs., 4 figs

The supply function equilibrium and its policy implications for wholesale electricity auctions

International Nuclear Information System (INIS)

Holmberg, Paer; Newbery, David

2010-01-01

The supply function equilibrium provides a game-theoretic model of strategic bidding in oligopolistic wholesale electricity auctions. This paper presents an intuitive account of current understanding and shows how welfare losses depend on the number of firms in the market and their asymmetry. Previous results and general recommendations for divisible-good/multi-unit auctions provides guidance on the design of the auction format, setting the reservation price, the rationing rule, and restrictions on the offer curves in wholesale electricity auctions. (author)

Competing in a deregulated market : what are we learning from the Alberta experience?

International Nuclear Information System (INIS)

Farrell, D.

2002-01-01

A history of the deregulation schedule in Alberta was presented. The spot market in the province opened in January 1996. What Albertans wanted from deregulation was a competitive power generation market, a liquid spot market, a liquid forward market, competitive retail market, a clear transmission policy, transparent pricing, and innovation. They got a competitive power generation market and a liquid spot market, but with few buyers and an unclear transmission policy with only medium transparency in prices. Innovation was seen in the form of small power and distributed generation such as wind energy. In 2001, the Alberta government stepped in to subsidize consumers because wholesale prices were trading at record highs. In 2002 wholesale prices collapsed. It was shown that prices have declined in Alberta as supply and demand came into balance. The Keephills Generating Plants 3 and 4 will have a large impact on the market in 2005. It was emphasized that new transmission would unlock additional potential market for Alberta generation. The paper presented viewgraphs showing existing generation capacity and the high Alberta prices following deregulation. It was noted that commodity cycles dominate growth plans in the electric power industry. The four generation markets in Alberta were identified. The lesson learned from past experience is that price signals will attract new generators to the market and that government leadership must be consistent. 4 tabs., 6 figs

2004 Power marketing program, draft environmental impact statement

International Nuclear Information System (INIS)

1996-04-01

The Sierra Nevada Region proposes to develop a marketing plan that would be implemented in the year 2005 and to allocate power to eligible entities within its marketing area in northern and central California and Nevada. Four alternatives were analyzed that are structured around the range of operations of the Central Valley Project hydroelectric system, levels of power purchases, and customer group allocations. The manner in which hydropower Generating plants are operated is one of the fundamental differences across the alternatives. Operating the hydrosystem to provide peaking power (the maximize hydropower peaking alternative, which is similar to the no-action alternative), would provide up to 941 MW of additional load-carrying capacity in comparison to baseload operations of the CVP system (the baseload alternative). Although it is not possible to determine where or when any lost capacity would be made up, building replacement capacity in response to the baseload alternative would result in land-use impacts and the use of natural and financial resources. Peaking also results in small but beneficial regional economic effects. Peaking and baseload alternatives result in different hourly air emission patterns. The peaking alternative results in annual reductions in air pollution and wastewater. Impacts within the CVP are limited to regulating reservoirs, which would have reduced pool-level fluctuations under the baseload alternative. Changes in allocations to customer groups result in small regional effects that are dependent on assumptions made about customer access to wholesale energy markets. The renewable resource acquisition alternative assumes that technology improvements allow for competitively melding 250 MW of renewables with Federal hydropower. Environmental impacts of the renewables alternative depend on the presence of biomass in the resource mix. Overall, the 2004 Draft Environmental Impact Statement (2004 EIS) identified no significant impacts

Virtual Power Plants as a Model for the Competitiveness of Small Manufacturers and Operators of Virtual Power Plants in Markets of Electricity and Gas

International Nuclear Information System (INIS)

Galic, T.; Tomsic, Z.

2012-01-01

Production of electricity from renewable energy sources and energy-efficient power sources to be connected to the electricity distribution network is still not competitive with electricity production from conventional sources of electricity. A powerful technological development of distributed energy sources and technologies for electricity storage has reduced their production costs, production costs of electricity from distributed energy sources, the costs of simultaneous production of electricity and thermal energy from cogeneration distributed energy sources and thus has facilitated their increased use in practice. It also allows them to interconnect systems such as virtual power plants in order to achieve full economic feasibility of their use. Current electricity and gas customers, now also in the role of small power producers, interconnected by virtual power plants operators, in addition to buying electricity and gas on retail markets for electricity and gas, will be able to sell electricity and new energy services also on wholesale electricity markets. Development and application of new distributed technologies will enable the production of new quantities of electricity which will increase the competitiveness of electricity producers, competitiveness of electricity suppliers of end-customers and elasticity of supply and demand in the electricity market. These processes will also increase the efficiency of the entire systems of electricity supply and of the gas supply systems.(author)

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

Power shopping - practical advice and cost-saving alternatives

International Nuclear Information System (INIS)

Anthofer, J.

1999-01-01

Encore Energy Solutions is a power consulting company which operates in California, Alberta and Ontario. The company manages electricity portfolios, sells risk management instruments and works with end users to lower power costs. It also helps utilities manage the evolution to a competitive energy market. In this presentation, a series of overhead viewgraphs were used to explain the roles of different players in Ontario's electric power industry, including generators, retailers, distributors, wholesale sellers, transmitters, wholesale consumers, independent market operators (IMOs), and consultants. The challenges facing municipal electric utilities regarding the wires business and retail services were also discussed. The trends in today's evolving power market were highlighted. These included price elasticity, load dispatch, granularity, long- and short-term volatility, gas prices, day/night spread, transmission tariffs, congestion and cost of capital. A graph depicting volatility term structures for electricity, natural gas and crude oil suggests that instantaneous volatility of power is almost infinite. Issues regarding risk management in terms of shareholder's portfolio values were also discussed. 17 figs

Impacts on irrigated agriculture of changes in electricity costs resulting from Western Area Power Administration's power marketing alternatives

International Nuclear Information System (INIS)

Edwards, B.K.; Flaim, S.J.; Howitt, R.E.; Palmer, S.C.

1995-03-01

Irrigation is a major factor in the growth of US agricultural productivity, especially in western states, which account for more than 85% of the nation's irrigated acreage. In some of these states, almost all cropland is irrigated, and nearly 50% of the irrigation is done with electrically powered pumps. Therefore, even small increases in the cost of electricity could have a disproportionate impact on irrigated agriculture. This technical memorandum examines the impacts that could result from proposed changes in the power marketing programs of the Western Area Power Administration's Salt Lake City Area Office. The changes could increase the cost of power to all Western customers, including rural municipalities and irrigation districts that rely on inexpensive federal power to pump water. The impacts are assessed by translating changes in Western's wholesale power rate into changes in the cost of pumping water as an input for agricultural production. Farmers can adapt to higher electricity prices in many ways, such as (1) using different pumping fuels, (2) adding workers and increasing management to irrigate more efficiently, and (3) growing more drought-tolerant crops. This study projects several responses, including using less groundwater and planting fewer waterintensive crops. The study finds that when dependence on Western's power is high, the cost of power can have a major effect on energy use, agricultural practices, and the distribution of planted acreage. The biggest percentage changes in farm income would occur (1) in Nevada and Utah (however, all projected changes are less than 2% of the baseline) and (2) under the marketing alternatives that represent the lowest capacity and energy offer considered in Western's Electric Power Marketing Environmental Impact Statement. The aggregate impact on farm incomes and the value of total farm production would be much smaller than that suggested by the changes in water use and planted acreage

Market restructuring and public incentives: the Turkish case of fresh produce marketing cooperatives

OpenAIRE

Lemeilleur, Sylvaine; Bignebat, Celine; Codron, Jean Marie; Humboldt University of Berlin

2006-01-01

Faced to the fast restructuring agrofood markets in Turkey, the Turkish State set up new institutional devices to support agricultural marketing cooperatives. This article analyses the dynamics of these public incentives towards producers’ organizations on the restructuration of the Turkish fresh fruit and vegetable market. The wholesale market law enacted 1995 established brokers on wholesale market halls who collected an atomized supply and guarantee the access of small producers to large s...

Competition in the power markets of Northern Europe; Konkurranse i kraftmarkedene i Nord-Europa

Energy Technology Data Exchange (ETDEWEB)

Tennbakk, Berit

1998-12-01

This report analyses the question whether a working wholesale market for electricity will develop in Northern Europe despite the differences in external conditions and in industrial structure. A recent EC directive and the approach towards a liberalization of the European energy markets direct attention to increased integration and trade with electricity. It is unclear whether the directive will have the intended impact. Norway, Sweden and Finland have deregulated their power markets, while Denmark, Germany and the Netherlands still have a monopolistic market structure. The most important difference between the deregulated and the monopolistic systems is that in the deregulated system the technical network activities are separated out and regulated while the suppliers compete in a market. The technical properties of network operation and the systems properties of the network imply advantages under large-scale operation that indicate that network operation is a natural monopoly which must be regulated. However, there are few essential large-scale advantages in the production of electric power. Thus, business based on competition implies that transmission and distribution should be regulated and that competition is allowed in those parts of the trade that do not profit from large-scale operation. International power trade is not necessarily a goal in itself. If transporting the energy carriers used in power production is cheaper than electric power, then the power plants should be placed where the demand is. In the development of the national systems, requirements have been imposed on the power sector in addition to cost-efficiency. Hence there is great variation in production structure and costs among countries, which provides a basis for profitable trade. In fact, there is a great potential for increased efficiency by increasing the trade among the EC countries. 23 refs., 7 tabs.

Interconnections and market integration in the Irish Single Electricity Market

International Nuclear Information System (INIS)

Nepal, Rabindra; Jamasb, Tooraj

2012-01-01

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

The supply of petrol: a report on the supply in the United Kingdom of petrol by wholesale

International Nuclear Information System (INIS)

1990-01-01

A report by the UK Monopolies and Mergers Commission on the supply of petrol examines the extent of vertical control within the industry and concludes that it is a competitive market. Topics covered include petrol prices, profits, petrol exchange agreements, wholesaler agreements with retailers, wholesalers' ownership of retail sites and control over prices and barriers to the entry to the market. In addition to concluding that none of the facts found operate against the public interest, some recommendations regarding the future are made. (UK)

Nordic market report 2009 : Development in the Nordic electricity market

Energy Technology Data Exchange (ETDEWEB)

2009-07-01

The Nordic region is characterized by a unique mix of generation sources where the high share of hydropower, representing virtually all of the Norwegian and nearly half of the Swedish generation capacity, has a great influence on the market. The level of precipitation is thus vital when calculating and analysing potential generation levels. In addition, the Nordic region has significantly colder winters than any other European country, influencing the consumption as many households are electrically heated. In 2008 the overall electricity consumption in the Nordic region was slightly higher - 1.6 per cent - than in 2007. During periods of peak consumption the Nordic power system proved sufficient to ensure security of supply without restrictions on consumption. The Nordic region operates almost entirely as one synchronous power system through transmission grid. The continuous reinforcement of the Nordic transmission grid has enabled an increased security of supply as well as a more efficient use of the generation capacity. Increasing cross border power flows strain the transmission lines and increases the demand for transmission capacity. Possible congestions occurring between the Nord Pool bidding areas are handled through market splitting, while internal congestions in general are handled through counter trade or by reducing interconnector capacity at the bidding area borders. The Nordic wholesale power market is a well functioning electricity market. Trade at Nord Pool has increased steadily since it was established in 1993. Although trading at Nord Pool Spot is voluntary, significantly more physical power is now traded on the power exchange than bilaterally - from 42 per cent of total Nordic consumption in 2004 to 76 per cent in 2008. During 2008 average spot prices at Nord Pool were considerably higher (approximately 60 per cent) than prices in 2007. The Nordic retail markets are essentially four separate markets, influenced by national differences, but work on

Nordic market report 2009. Development in the Nordic electricity market

Energy Technology Data Exchange (ETDEWEB)

2009-07-15

The Nordic region is characterized by a unique mix of generation sources where the high share of hydropower, representing virtually all of the Norwegian and nearly half of the Swedish generation capacity, has a great influence on the market. The level of precipitation is thus vital when calculating and analysing potential generation levels. In addition, the Nordic region has significantly colder winters than any other European country, influencing the consumption as many households are electrically heated. In 2008 the overall electricity consumption in the Nordic region was slightly higher - 1.6 per cent - than in 2007. During periods of peak consumption the Nordic power system proved sufficient to ensure security of supply without restrictions on consumption. The Nordic region operates almost entirely as one synchronous power system through transmission grid. The continuous reinforcement of the Nordic transmission grid has enabled an increased security of supply as well as a more efficient use of the generation capacity. Increasing cross border power flows strain the transmission lines and increases the demand for transmission capacity. Possible congestions occurring between the Nord Pool bidding areas are handled through market splitting, while internal congestions in general are handled through counter trade or by reducing interconnector capacity at the bidding area borders. The Nordic wholesale power market is a well functioning electricity market. Trade at Nord Pool has increased steadily since it was established in 1993. Although trading at Nord Pool Spot is voluntary, significantly more physical power is now traded on the power exchange than bilaterally - from 42 per cent of total Nordic consumption in 2004 to 76 per cent in 2008. During 2008 average spot prices at Nord Pool were considerably higher (approximately 60 per cent) than prices in 2007. The Nordic retail markets are essentially four separate markets, influenced by national differences, but work on

Economic Conditions and Factors Affecting New Nuclear Power Deployment

Energy Technology Data Exchange (ETDEWEB)

Harrison, Thomas J [ORNL

2014-10-01

This report documents work performed in support of the US Department of Energy Office of Nuclear Energy’s Advanced Small Modular Reactor (AdvSMR) program. The report presents information and results from economic analyses to describe current electricity market conditions and those key factors that may impact the deployment of AdvSMRs or any other new nuclear power plants. Thus, this report serves as a reference document for DOE as it moves forward with its plans to develop advanced reactors, including AdvSMRs. For the purpose of this analysis, information on electricity markets and nuclear power plant operating costs will be combined to examine the current state of the nuclear industry and the process required to successfully move forward with new nuclear power in general and AdvSMRs in particular. The current electricity market is generally unfavorable to new nuclear construction, especially in deregulated markets with heavy competition from natural gas and subsidized renewables. The successful and profitable operation of a nuclear power plant (or any power plant) requires the rate at which the electricity is sold to be sufficiently greater than the cost to operate. The wholesale rates in most US markets have settled into values that provide profits for most operating nuclear power plants but are too low to support the added cost of capital recovery for new nuclear construction. There is a strong geographic dependence on the wholesale rate, with some markets currently able to support new nuclear construction. However, there is also a strong geographic dependence on pronuclear public opinion; the areas where power prices are high tend to have unfavorable views on the construction of new nuclear power plants. The use of government-backed incentives, such as subsidies, can help provide a margin to help justify construction projects that otherwise may not seem viable. Similarly, low interest rates for the project will also add a positive margin to the economic

76 FR 10353 - Locational Exchanges of Wholesale Electric Power

Science.gov (United States)

2011-02-24

... marketer instead of El Paso's merchant affiliate.\\12\\ \\11\\ El Paso Electric Co., 115 FERC ] 61,312 (2006... characteristics of locational exchanges and whether the definition set forth by Puget's Petition sufficiently... transmission between the exchange points; and (5) allow entities such as power marketers the ability to avoid...

Buying and selling power in the age of competition

International Nuclear Information System (INIS)

Douglas, J.

1994-01-01

This article describes the market management which is the subject of pioneering research being conducted by EPRI. On the wholesale side, this research centers on the development of powerful analytical methods to support utility decisions regarding new opportunities in the bulk power market. Research on retail market management is concentrated on developing innovative price-differentiated services that can enhance the value of electricity to customers and also foster a utility's long-term financial competitiveness

Electricity marketing and retailing

International Nuclear Information System (INIS)

Sandre, L.

2001-01-01

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

77 FR 61895 - Electricity Market Transparency Provisions of Section 220 of the Federal Power Act

Science.gov (United States)

2012-10-11

... Determination 105 b. Resale of Financial Transmission Rights in 109 Secondary Markets i. NOPR 109 ii. Comments... by non-public utilities, with non-public utilities accounting for 60 and 70 percent of wholesale... that the Commission's market-based rate program is based on a theory of regulation through competition...

Restructuring Electricity Markets when Demand is Uncertain

DEFF Research Database (Denmark)

Boom, Anette; Buehler, Stefan

2006-01-01

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

Hotel Brand Websites, OTA’s, Meta Search and Wholesalers: A Distribution Dilemma Within The Industry

OpenAIRE

Nick Cohen

2017-01-01

As technology and powerful meta search channels increase, wholesale hotel room rates are now being sold publicly online. Now, hotels have the challenge of keeping strong relationships with wholesalers while keeping sales competitive on their brand website and online travel agencies.

Price Formation and Competition in the Swedish Electricity Market. Main findings of ER 2006:13

International Nuclear Information System (INIS)

2006-11-01

The Nordic electricity market can be divided into a Nordic wholesale market - the producer market - and the, national, retail markets. Nord Pool organises a 24-hour market for the physical trade of electricity, the spot market. Nord Pool also has a market place for so-called financial trade where players can (among other things) hedge themselves against price risks. Thus, the trade at Nord Pool represents the basis for trading with electricity throughout the entire Nordic market. In addition to the trade at Nord Pool, there is also bilateral trading between buyers and sellers. The report has been arranged as follows. Initially the functioning of the wholesale market is analysed, the issues addressed include the price formation in the spot market, the functioning of the financial market, as well as the price development in the spot market. The section ends with an analysis of the competitive situation in the Nordic wholesale market with a focus on Sweden. The next section focuses on how a potential introduction of Elspot areas in Sweden might affect the conditions for competition. The third section looks at certain conditions in the Swedish retail market and on certain consequences for households and electricity-intensive industry due to the price increases in recent years. The report concludes with the Energy Markets Inspectorate's deliberations on the need for measures to be undertaken in the Swedish and Nordic electricity market. The concentration on the Nordic electricity market is at a level where the authorities monitoring competition need to counteract changes that lead to further concentration. The present structure of the market, with an increasingly high concentration and co-ownership of power stations, also places demands on the authorities responsible for monitoring competition to implement measures designed to detect and to prevent the possible abuse of market power. There is a substantial need for research on competition and efficiency on the

Analysis of relationships between hourly electricity price and load in deregulated real-time power markets

International Nuclear Information System (INIS)

Lo, K.L.; Wu, Y.K.

2004-01-01

Risk management in the electric power industry involves measuring the risk for all instruments owned by a company. The value of many of these instruments depends directly on electricity prices. In theory, the wholesale price in a real-time market should reflect the short-run marginal cost. However, most markets are not perfectly competitive, therefore by understanding the degree of correlation between price and physical drivers, electric traders and consumers can manage their risk more effectively and efficiently. Market data from two power-pool architectures, both pre-2003 ISO-NE and Australia's NEM, have been studied. The dynamic character of electricity price is mean-reverting, and consists of intra-day and weekly variations, seasonal fluctuations, and instant jumps. Parts of them are affected by load demands. Hourly signals on both price and load are divided into deterministic and random components with a discrete Fourier transform algorithm. Next, the real-time price-load relationship for periodic and random signals is examined. In addition, time-varying volatility models are constructed on random price and random load with the GARCH model, and the correlation between them analysed. Volatility plays a critical role on evaluating option pricing and risk management. (author)

After the crisis: which future for the competitive power market of Ontario?; Apres la crise: quel avenir pour le marche concurrentiel d'electricite de l'Ontario?

Energy Technology Data Exchange (ETDEWEB)

Fraser, P

2003-07-01

This document presents the power distribution system of Ontario (Canada) and the crisis that followed the opening of the electricity market on May 1, 2002 in Ontario. The author explains the process of reforms of the power market, the re-structuration of Ontario Hydro company and the occurrence of new energy companies (73 new retailers), the launching of a wholesale market, the reasons of the crisis (25% average rise of electricity prices) and the lessons to be learned from. In front of this situation, a freezing of electricity prices to their level prior to May 2002 and a reimbursement of the difference paid by consumers since May 2002 have been decided by the government up to 2006. (J.S.)

Sectoral Innovation Foresight. Wholesale and Retail Trade Sector. Final Report. Task 2

NARCIS (Netherlands)

Giesecke, S.; Schaper-Rinkel

2010-01-01

The internationalization, concentration and differentiation of retailing is challenging the traditional retail and wholesale sector organisation and its distribution structures that firms have employed to get goods and services to market. With the intensification of competition and speed of change

Nordic Market report 2010. Development in the Nordic Electricity Market

Energy Technology Data Exchange (ETDEWEB)

2010-07-15

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

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...

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

International Nuclear Information System (INIS)

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

2010-01-01

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

Hotel Brand Websites, OTA’s, Meta Search and Wholesalers: A Distribution Dilemma Within The Industry

Directory of Open Access Journals (Sweden)

Nick Cohen

2017-06-01

Full Text Available As technology and powerful meta search channels increase, wholesale hotel room rates are now being sold publicly online. Now, hotels have the challenge of keeping strong relationships with wholesalers while keeping sales competitive on their brand website and online travel agencies.

Polish model of electric energy market-bulk energy tariff

International Nuclear Information System (INIS)

Malysa, H.

1994-01-01

The key problem of electric energy supply industry reform is gradually launching a competitive wholesale generation market since 1994. In process of this transformation the important role plays bulk energy supply tariff in electricity transactions between Polish Power Grid Company and distribution and retail supply companies (distributors). Premises, factors and constrains having influence on shaping of the bulk energy supply tariff are presented. A brief outline of economic foundation for calculation of demand charges and energy rate is given. Particular attention has been paid to description of bulk energy supply tariff structure. The scope and manner of adjustment of this tariff to circumstances and constrains in the initial stage of the wholesale electric energy market have been described as well. (author). 8 refs

Market control in the electricity production and wholesale markets. A critical analysis of the more recent views of the Federal Cartel Office; Marktbeherrschung im Bereich Stromerzeugung/Stromgrosshandel. Eine kritische Analyse der neueren Sicht des Bundeskartellamts

Energy Technology Data Exchange (ETDEWEB)

Drozella, Gisela; Krebs, Harald

2013-07-01

In its sector-specific investigations in the electricity production and wholesale markets the German Federal Cartel Office continues to apply its concept of what it terms a primary sales market. The authors describe the discrepancy that exists between the beliefs about market action that underlie the Cartel Office's determination of market boundaries and market action as it actually occurs in reality. The legal concept of the exercise of unilateral market control by several companies as developed by the Cartel Office on the basis of an economic instrument appears unsustainable, both legally and economically. This is compounded by methodological shortcomings. It is therefore the authors' opinion that the approach taken by the Cartel Office in its sector-specific investigations does not afford a sustainable basis for its finding of electricity production companies exercising market control.

A dispatch based pricing model for the New Zealand electricity market

International Nuclear Information System (INIS)

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

1996-01-01

Work undertaken for the New Zealand transmission grid is described. Prices derived from an observed system dispatch can be used in the short-run coordination of a competitive wholesale electricity market. These prices vary across space and time, reflecting differences in marginal costs and changing demand. Markets for emergency reserve generating capacity can be integrated with a market for power. Used in conjunction with longer term contracts, such short-run prices have the potential to allow competitive power system operation without significant loss of coordination efficiencies. 2 figs., 26 refs

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.

Buying and selling power in a deregulated energy market

International Nuclear Information System (INIS)

Peterson, M.M.

1999-01-01

The rapid pace at which the restructuring of Ontario's electrical industry is taking place is the focus of this paper. Restructuring began in November 1997, when the government announced in its White Paper the plans to achieve a competitive market in both wholesale and retail sales by the year 2000. This presentation outlines the licensing requirements of the Ontario Energy Board (OEB). The OEB deals with the regulation of both the gas and electricity industries. It is anticipated that the electricity market will evolve in much the same was as the gas market. The OEB is expecting to deal with common issues between the two. Other topics discussed in this presentation include the Market Design Committee's (MDC) recommendations concerning independent market operator rules, market rules, embedded generation, and uniform prices throughout the province during the first 18 months to provide the parties sufficient time to adapt to the new system without having to digest transmission congestion. 3 refs

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

18 CFR 366.7 - Procedures for obtaining exempt wholesale generator and foreign utility company status.

Science.gov (United States)

2010-04-01

... definition of exempt wholesale generator or foreign utility company (including stating the location of its... obtaining exempt wholesale generator and foreign utility company status. 366.7 Section 366.7 Conservation of... THE PUBLIC UTILITY HOLDING COMPANY ACT OF 2005, FEDERAL POWER ACT AND NATURAL GAS ACT BOOKS AND...

Insight conference proceedings : Alberta power

International Nuclear Information System (INIS)

2004-01-01

This conference addressed issues dealing with Alberta's restructured electric power industry and new policies from the perspective of Alberta's independent power industry. It covered lessons learned from electric industry restructuring, transmission strategies, transmission frameworks, competitive markets, power costs, energy prices, and power outages. Interconnected power systems between Alberta and British Columbia were also reviewed along with grid reinforcement requirements. Markets and restructuring efforts in other jurisdictions such as Quebec and Maritime Canada were briefly reviewed. The move to deregulate the industry has played an important role in restructuring a vertically integrated industry into power generation, transmission and distribution. High electricity prices eventually resulted in re regulation of the industry and a synergy between wholesale and retail markets. Five of the 17 papers were indexed separately for inclusion in the database. refs., tabs., figs

Economic-environmental active and reactive power scheduling of modern distribution systems in presence of wind generations: A distribution market-based approach

International Nuclear Information System (INIS)

Samimi, Abouzar; Kazemi, Ahad; Siano, Pierluigi

2015-01-01

Highlights: • A new market-based approach is proposed to schedule active and reactive powers. • Multi-component reactive power bidding structures for DERs is introduced. • A new economical/environmental operational scheduling method is proposed. • At distribution level, a reactive power market is developed in presence of DERs. - Abstract: Distribution System Operator (DSO) is responsible for active and reactive power scheduling in a distribution system. DSO purchases its active and reactive power requirements from Distributed Energy Resources (DERs) as well as the wholesale electricity market. In this paper, a new economical/environmental operational scheduling method based on sequential day-ahead active and reactive power markets at distribution level is proposed to dispatch active and reactive powers in distribution systems with high penetration of DERs. In the proposed model, after day-ahead active power market was cleared the participants submit their reactive power bids and then the reactive power market will be settled. At distribution level, developing a Var market, in which DERs like synchronous machine-based Distributed Generation (DG) units and Wind Turbines (WTs) could offer their reactive power prices, DERs are motivated to actively participate in the Volt/VAr Control (VVC) problem. To achieve this purpose, based on the capability curves of considered DERs, innovative multi-component reactive power bidding structures for DERs are introduced. Moreover, the effect of reactive power market clearing on the active power scheduling is explicitly considered into the proposed model by rescheduling of active power by usage of energy-balance service bids. On the other hand, environmental concerns that arise from the operation of fossil fuel fired electric generators are included in the proposed model by employing CO_2 emission penalty cost. The suggested reactive power market is cleared through a mixed-integer nonlinear optimization program. The

Risk management solutions for the new energy market

International Nuclear Information System (INIS)

Saba, A.

2001-01-01

Ontario Power Generation (OPG) is one of five successor companies of former Ontario Hydro. With a current capacity of more than 30,000 MW, OPG is the fourth largest power generator in North America. Its generation mix includes 50 per cent nuclear with the balance being between fossil fuel and hydro energy. This power point presentation discussed the role of OPG in Ontario's new deregulated market place. The market is immature and new billing schemes are in the process of being introduced. This presentation discussed hourly market clearing price (spot market) and the need for hourly data, or interval meters. Issues regarding increased price volatility, load variability and how consumers can avoid high prices through load control were also discussed. In Ontario's new market place, the purchasing options for electric power include the wholesale market participant, retailers of electricity, retail participants, default supply and self generation. A brief review of each of these procurement options was included with this presentation. tabs., figs

Competitive situation at the market for power generation. Convergence of the wholesale electricity prices; Wettbewerbssituation auf dem Stromerzeugungsmarkt. Konvergenz der Grosshandelsstrompreise

Energy Technology Data Exchange (ETDEWEB)

Schiffer, Hans-Wilhelm [RWE AG, Essen (Germany). Allgemeine Wirtschaftspolitik und Wissenschaft

2013-11-01

With the creation of a cross-border market for electricity in the European Union, since the year 1998 the world's largest power supply area develops which is subject to a common pricing. Furthermore, there exist major differences between the EU countries both in terms of the energy mix as well as with respect to the market structure.

Transmission-constrained oligopoly in the Japanese electricity market

International Nuclear Information System (INIS)

Tanaka, Makoto

2009-01-01

We simulate the Japanese wholesale electricity market as a transmission-constrained Cournot market using a linear complementarity approach. First, we investigate the effects of upgrading the bottleneck transmission line between the eastern and western regions, focusing on the mitigation of transmission congestion. Although increasing the bottleneck capacity would lead to welfare gains, they might not be substantial particularly when transmission capacity costs are taken into account. Second, we examine the effects of splitting the largest electric power company, which is located in the eastern region, focusing on the mitigation of market power. Splitting the largest company into two companies would lead to a 25% reduction in the eastern price, and a 50% reduction in deadweight loss. The divestiture of the largest company would have a significant effect of mitigating market power in the Japanese electricity market. (author)

18 CFR 38.2 - Incorporation by reference of North American Energy Standards Board Wholesale Electric Quadrant...

Science.gov (United States)

2010-04-01

... reference of North American Energy Standards Board Wholesale Electric Quadrant standards. 38.2 Section 38.2 Conservation of Power and Water Resources FEDERAL ENERGY REGULATORY COMMISSION, DEPARTMENT OF ENERGY... UTILITIES § 38.2 Incorporation by reference of North American Energy Standards Board Wholesale Electric...

Distributional effects of the Australian Renewable Energy Target (RET) through wholesale and retail electricity price impacts

International Nuclear Information System (INIS)

Cludius, Johanna; Forrest, Sam; MacGill, Iain

2014-01-01

The Australian Renewable Energy Target (RET) has spurred significant investment in renewable electricity generation, notably wind power, over the past decade. This paper considers distributional implications of the RET for different energy users. Using time-series regression, we show that the increasing amount of wind energy has placed considerable downward pressure on wholesale electricity prices through the so-called merit order effect. On the other hand, RET costs are passed on to consumers in the form of retail electricity price premiums. Our findings highlight likely significant redistributive transfers between different energy user classes under current RET arrangements. In particular, some energy-intensive industries are benefiting from lower wholesale electricity prices whilst being largely exempted from contributing to the costs of the scheme. By contrast, many households are paying significant RET pass through costs whilst not necessarily benefiting from lower wholesale prices. A more equitable distribution of RET costs and benefits could be achieved by reviewing the scope and extent of industry exemptions and ensuring that methodologies to estimate wholesale price components in regulated electricity tariffs reflect more closely actual market conditions. More generally, these findings support the growing international appreciation that policy makers need to integrate distributional assessments into policy design and implementation. - Highlights: • The Australian RET has complex yet important distributional impacts on different energy users. • Likely wealth transfers from residential and small business consumers to large energy-intensive industry. • Merit order effects of wind likely overcompensate exempt industry for contribution to RET costs. • RET costs for households could be reduced if merit order effects were adequately passed through. • Need for distributional impact assessments when designing and implementing clean energy policy

29 CFR 779.327 - Wholesale sales.

Science.gov (United States)

2010-07-01

... 29 Labor 3 2010-07-01 2010-07-01 false Wholesale sales. 779.327 Section 779.327 Labor Regulations... Particular Industryâ § 779.327 Wholesale sales. A wholesale sale, of course, is not recognized as a retail sale. If an establishment derives more than 25 percent of its annual dollar volume from sales made at...

Integration of distributed energy resources into low voltage grid: A market-based multiperiod optimization model

Energy Technology Data Exchange (ETDEWEB)

Mashhour, Elahe; Moghaddas-Tafreshi, S.M. [Faculty of Electrical Engineering, K.N. Toosi University of Technology, Seyd Khandan, P.O. Box 16315-1355, Shariati, Tehran (Iran)

2010-04-15

This paper develops a multiperiod optimization model for an interconnected micro grid with hierarchical control that participates in wholesale energy market to maximize its benefit (i.e. revenues-costs). In addition to the operational constraints of distributed energy resources (DER) including both inter-temporal and non-inter-temporal types, the adequacy and steady-state security constraints of micro grid and its power losses are incorporated in the optimization model. In the presented model, DER are integrated into low voltage grid considering both technical and economical aspects. This integration as a micro grid can participate in wholesale energy market as an entity with dual role including producer and consumer based on the direction of exchanged power. The developed model is evaluated by testing on a micro grid considering different cases and the results are analyzed. (author)

Perceptions and practices of pharmaceutical wholesalers surrounding counterfeit medicines in a developing country: a baseline survey

Directory of Open Access Journals (Sweden)

Khan Mohiuddin H

2011-11-01

Full Text Available Abstract Background Recent investigations by the Ministry of Health of Cambodia suggest that counterfeit medicines have been introduced into the pharmaceutical market in tampered packaging. To further explore this possibility, an interview survey was conducted at the wholesaler level to investigate the medicinal supply chain in Cambodia. Methods Managing executives of 62 (83.8% registered wholesalers of modern medicines in Cambodia were interviewed in 2009 on their knowledge of, perception on, and practices related to counterfeiting issues through a semi-structured questionnaire. Results According to our findings, 12.9% of the wholesalers had encountered counterfeit medicine. However, they demonstrated a variety of perceptions regarding this issue. A majority (59.7% defined counterfeit medicines as medicines without registration, while other definitions included medicines that were fraudulently manufactured, medicines without a batch/lot number, those containing harmful ingredients or a reduced amount of active ingredients, and expired medicines. Additionally, 8.1% responded that they did not know what counterfeit medicines were. During procurement, 66.1% of the wholesalers consider whether the product is registered in Cambodia, while 64.5% consider the credibility and quality of the products and 61.3% consider the reputation of the manufacturers. When receiving a consignment, 80.6% of wholesalers check the intactness of medicines, 72.6% check the specification and amount of medicines, 71% check Cambodian registration, 56.5% check that the packaging is intact, 54.8% check batch and lot numbers, 48.4% check the dates of manufacture and expiration, and 9.7% check analytical certificates. Out of 62 wholesalers, 14.5% had received medicines that arrived without packages or were separated from their packaging and had to be repacked before distribution. Significant statistical association was found between wholesalers who received medicines separately

Perceptions and practices of pharmaceutical wholesalers surrounding counterfeit medicines in a developing country: a baseline survey.

Science.gov (United States)

Khan, Mohiuddin H; Akazawa, Manabu; Dararath, Eav; Kiet, Heng B; Sovannarith, Tey; Nivanna, Nam; Yoshida, Naoko; Kimura, Kazuko

2011-11-11

Recent investigations by the Ministry of Health of Cambodia suggest that counterfeit medicines have been introduced into the pharmaceutical market in tampered packaging. To further explore this possibility, an interview survey was conducted at the wholesaler level to investigate the medicinal supply chain in Cambodia. Managing executives of 62 (83.8%) registered wholesalers of modern medicines in Cambodia were interviewed in 2009 on their knowledge of, perception on, and practices related to counterfeiting issues through a semi-structured questionnaire. According to our findings, 12.9% of the wholesalers had encountered counterfeit medicine. However, they demonstrated a variety of perceptions regarding this issue. A majority (59.7%) defined counterfeit medicines as medicines without registration, while other definitions included medicines that were fraudulently manufactured, medicines without a batch/lot number, those containing harmful ingredients or a reduced amount of active ingredients, and expired medicines. Additionally, 8.1% responded that they did not know what counterfeit medicines were.During procurement, 66.1% of the wholesalers consider whether the product is registered in Cambodia, while 64.5% consider the credibility and quality of the products and 61.3% consider the reputation of the manufacturers. When receiving a consignment, 80.6% of wholesalers check the intactness of medicines, 72.6% check the specification and amount of medicines, 71% check Cambodian registration, 56.5% check that the packaging is intact, 54.8% check batch and lot numbers, 48.4% check the dates of manufacture and expiration, and 9.7% check analytical certificates.Out of 62 wholesalers, 14.5% had received medicines that arrived without packages or were separated from their packaging and had to be repacked before distribution. Significant statistical association was found between wholesalers who received medicines separately from their packs/containers and who consider their

Electricity and gas market observatory. 4. Quarter 2008; Observatoire des marches de l'electricite et du gaz 4. trimestre 2008

Energy Technology Data Exchange (ETDEWEB)

NONE

2008-07-01

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

Fuel prices scenario generation based on a multivariate GARCH model for risk analysis in a wholesale electricity market

International Nuclear Information System (INIS)

Batlle, C.; Barquin, J.

2004-01-01

This paper presents a fuel prices scenario generator in the frame of a simulation tool developed to support risk analysis in a competitive electricity environment. The tool feeds different erogenous risk factors to a wholesale electricity market model to perform a statistical analysis of the results. As the different fuel series that are studied, such as the oil or gas ones, present stochastic volatility and strong correlation among them, a multivariate Generalized Autoregressive Conditional Heteroskedastic (GARCH) model has been designed in order to allow the generation of future fuel prices paths. The model makes use of a decomposition method to simplify the consideration of the multidimensional conditional covariance. An example of its application with real data is also presented. (author)

New Brunswick Market Design Committee : final report

International Nuclear Information System (INIS)

2002-04-01

This report presents a plan for implementing New Brunswick's electricity restructuring. It includes two resolutions and 95 recommendations to help achieve the main policy objectives of the White Paper, the New Brunswick Energy Policy. The most significant policy goal outlined in the White Paper is the restructuring of the electricity sector, with initial competition being only at the wholesale and large industrial retail level. The Board of Commissioners of Public Utilities will regulate many aspects of the new electricity market. In addition, green pricing options will be made available. The Market Design Committee recommends that the government set up a bilateral contract market for wholesale and large industrial customers to contract with alternate providers for electrical power. Power generators would have the freedom to sell by contract to customers both within and outside the province. The report describes the requirements for establishing a bilateral contract market and how it functions. The Committee also recommends designating a Heritage Pool of electricity available from the existing generation assets in the province. Other recommendations include the creation of programs that will help meet environmental protection goals. The programs include net metering, support of embedded generation, renewable portfolio standards, energy efficiency programs, green pricing, broad-based carbon dioxide emissions trading, emission performance standards, and the promotion of cogeneration. 37 refs., 2 figs

Electricity and gas market observatory. 3. Quarter 2007; Observatoire des marches de l'electricite et du gaz. 3. trimestre 2007

Energy Technology Data Exchange (ETDEWEB)

NONE

2007-07-01

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

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

Pricing mechanism for real-time balancing in regional electricity markets

NARCIS (Netherlands)

De Weerdt, M.M.; Ketter, W.; Collins, J.

2011-01-01

We consider the problem of designing a pricing mechanism for precisely controlling the real-time balance in electricity markets, where retail brokers aggregate the supply and demand of a number of individual customers, and must purchase or sell power at the wholesale level such that the total supply

Virtual power plant auctions

International Nuclear Information System (INIS)

Ausubel, Lawrence M.; Cramton, Peter

2010-01-01

Since their advent in 2001, virtual power plant (VPP) auctions have been implemented widely. In this paper, we describe the simultaneous ascending-clock auction format that has been used for virtually all VPP auctions to date, elaborating on other design choices that most VPP auctions have had in common as well as discussing a few aspects that have varied significantly among VPP auctions. We then evaluate the various objectives of regulators in requiring VPP auctions, concluding that the auctions have been effective devices for facilitating new entry into electricity markets and for developing wholesale power markets. (author)

Virtual power plant auctions

Energy Technology Data Exchange (ETDEWEB)

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

2010-12-15

Since their advent in 2001, virtual power plant (VPP) auctions have been implemented widely. In this paper, we describe the simultaneous ascending-clock auction format that has been used for virtually all VPP auctions to date, elaborating on other design choices that most VPP auctions have had in common as well as discussing a few aspects that have varied significantly among VPP auctions. We then evaluate the various objectives of regulators in requiring VPP auctions, concluding that the auctions have been effective devices for facilitating new entry into electricity markets and for developing wholesale power markets. (author)

Effects of Demand Response on Retail and Wholesale Power Markets

Energy Technology Data Exchange (ETDEWEB)

Chassin, David P.; Kalsi, Karanjit

2012-07-26

Demand response has grown to be a part of the repertoire of resources used by utilities to manage the balance between generation and load. In recent years, advances in communications and control technology have enabled utilities to consider continuously controlling demand response to meet generation, rather than the other way around. This paper discusses the economic applications of a general method for load resource analysis that parallels the approach used to analyze generation resources and uses the method to examine the results of the US Department of Energy’s Olympic Peninsula Demonstration Testbed. A market-based closed-loop system of controllable assets is discussed with necessary and sufficient conditions on system controllability, observability and stability derived.

Research on electricity market operation mechanism and its benefit of demand side participation

Science.gov (United States)

Han, Shuai; Yan, Xu; Qin, Li-juan; Lin, Xi-qiao; Zeng, Bo

2017-08-01

Demand response plays an important role in maintaining the economic stability of the system, and has the characteristics of high efficiency, low cost, fast response, good environmental benefits and so on. Demand side resource is an important part of electricity market. The research of demand side resources in our country is still in the initial stage, but the opening of the electricity sales side provides a broad prospect for the development of electricity market. This paper summarizes the main types of demand side resources in our country, analyzes the economic principle of demand response from the micro perspective, puts forward some suggestions on the operation mechanism of China’s demand side resources participating in the electricity market under the condition of electricity sales side opening, analyzes the current situation of pricing in the electricity wholesale market and sets up the pricing strategy of the centralized wholesale market with the demand side power supply participating in quotation, which makes the social and economic benefits reach the maximum.

Market scope

International Nuclear Information System (INIS)

2002-01-01

Nova Scotia's Energy Strategy is aimed at opening the electricity market to wholesale competition, allowing eligible wholesale customers (such as municipal distribution utilities) to buy their electricity from competitive sources. The Nova Scotia Electricity Marketplace Governance Committee (EMGC) is concerned that this will not promote long-term competition because these eligible customers form only a very small fraction (1.6 per cent) of the total electricity demand in the province. This report examines the possible extensions of competition beyond the minimum specified in the Energy Strategy. It also identifies approaches that the EMGC may consider, including other potential levels of competition and their associated issues. The report discussed the issue of implementing wholesale competition as it relates to unbundling of the transmission tariff from the cost of energy supply and from the cost of distribution in retail marketing. The stages of expanding the market scope were also described with reference to large industrial customers, medium industrial and large commercial customers, and small commercial and residential customers. The report states that it is unlikely that the transition to an open access transmission market will need to be reversed, as it is likely to be an essential component of any further development. The EMGC feels it could minimize future transition costs and promote future evolution of competition by recommending for an institutional and market structure that is compatible with a broader competitive market

Estimating the volatility of electricity prices: The case of the England and Wales wholesale electricity market

International Nuclear Information System (INIS)

Tashpulatov, Sherzod N.

2013-01-01

Price fluctuations that partially comove with demand are a specific feature inherent to liberalized electricity markets. The regulatory authority in Great Britain, however, believed that sometimes electricity prices were significantly higher than what was expected and, therefore, introduced price-cap regulation and divestment series. In this study, I analyze how the introduced institutional changes and regulatory reforms affected the dynamics of daily electricity prices in the England and Wales wholesale electricity market during 1990–2001. This research finds that the introduction of price-cap regulation did achieve the goal of lowering the price level at the cost of higher price volatility. Later, the first series of divestments is found to be successful at lowering price volatility, which however happens at the cost of a higher price level. Finally, this study also documents that the second series of divestments was more successful at lowering both the price level and volatility. - Author-Highlights: • The impact of regulation on the dynamics of electricity prices is examined. • Price-cap regulation has decreased the level at the cost of higher volatility. • The first series of divestments has reversed the trade-off. • The reversed trade-off is explained as an indication of tacit collusion. • The second series of divestments is found generally successful

47 CFR 51.607 - Wholesale pricing standard.

Science.gov (United States)

2010-10-01

... 47 Telecommunication 3 2010-10-01 2010-10-01 false Wholesale pricing standard. 51.607 Section 51.607 Telecommunication FEDERAL COMMUNICATIONS COMMISSION (CONTINUED) COMMON CARRIER SERVICES (CONTINUED) INTERCONNECTION Resale § 51.607 Wholesale pricing standard. The wholesale rate that an incumbent LEC may charge...

77 FR 37034 - Notice of Effectiveness of Exempt Wholesale Generator Status

Science.gov (United States)

2012-06-20

... DEPARTMENT OF ENERGY Federal Energy Regulatory Commission Notice of Effectiveness of Exempt Wholesale Generator Status Docket Nos. Solano 3 Wind LLC EG12-36-000 Atlantic Power (Coastal Rivers... EG12-39-000 Atlantic Power Limited Partnership EG12-40-000 Magic Valley Wind Farm I, LLC EG12-41-000...

Mapping of selected markets with Nodal pricing or similar systems. Australia, New Zealand and North American power markets

Energy Technology Data Exchange (ETDEWEB)

Mathiesen, Vivi (ed.)

2011-07-01

This report shows that the principals of nodal pricing can be implemented in different ways. A common denominator for markets with nodal pricing is a central market based nodal dispatch, where prices and flows are determined simultaneously close to real time. This stands apart from the European market design, which is based on a highly simplified version of the grid, and a physical point auction day ahead. Congestion management is handled by the TSO during the operational hour and not through the market as is the case in nodal pricing systems. Nodal pricing yields optimal dispatch and congestion management through the market, and as such an optimal utilisation of energy generation and network. However, whether this short term optimisation delivers the highest overall efficiency for the market in terms of competition in the wholesale and retail market, price discovery, possibilities for hedging, long term price signals etc. is difficult to determine. The markets investigated handle issues such as market power, risk management, investment signals and retail markets in very different ways. New Zealand and PJM are examples of markets with full nodal pricing, i.e. both generators and the demand side are exposed to nodal prices. The PJM market has more 'additional features' than the New Zealand market. Examples of these are separate capacity market to trigger investments in generation and generator price caps to deal with situations of market power. In addition PJM offers liquid and mature markets for risk management, such as aggregates of nodes where market participant can chose to be settled (rather than to be settled directly at the node). A general finding though, seems to be that risk management at peripheral nodes is challenging in nodal markets, particularly for independent retailers. In New Zealand generators and retailers were permitted to 'reintegrate' in order to cope with the nodal prices. The Australian market has central market based

Electricity and gas market observatory. 2. Quarter 2008; Observatoire des marches de l'electricite et du gaz 2. trimestre 2008

Energy Technology Data Exchange (ETDEWEB)

NONE

2008-07-01

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

Electricity and gas market observatory. 3. Quarter 2008; Observatoire des marches de l'electricite et du gaz 3. trimestre 2008

Energy Technology Data Exchange (ETDEWEB)

NONE

2008-07-01

The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web site (www.cre.fr). Since the 1 of July 2007, all customers can choose their gas and electricity suppliers. Content: A - The electricity market: The retail electricity market (Introduction, Customer segments and their respective weight, Status at September 30, 2008, Dynamic analysis: 3. Quarter 2008); The wholesale electricity market (Introduction, Wholesale market activity in France, Prices on the French wholesale market and European comparison, Import and export volumes, Concentration of the French electricity market); B - The gas market: The retail gas market (Introduction, Customer segments and their respective weight, Status on September 30, 2008, Dynamic analysis: 3. Quarter 2008); The wholesale gas market (Gas pricing and gas markets in Europe, The wholesale market in France); C - Appendices: Electricity and gas market observatories combined glossary, Specific electricity market observatory glossary, Specific gas market observatory glossary.

Competitive electricity markets around the world: approaches to price risk management

International Nuclear Information System (INIS)

Masson, G.S.

1999-01-01

This chapter focuses on wholesale electricity markets, and traces the histories of the US and UK power industries. Risk management in the new electricity market is examined covering price risk, location basis risk, volume risk, and margin and cross-commodity risk. Specific competitive market systems that have been implemented around the world including mandatory pools, voluntary pools, and bilateral markets are discussed. Panels describing the functions of ancillary services, electricity price volatility, and the problems of capacity payments and the UK pool are presented

The Nordic financial electricity market

Energy Technology Data Exchange (ETDEWEB)

2010-11-15

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

Research on Capacity Addition using Market Model with Transmission Congestion under Competitive Environment

Science.gov (United States)

Katsura, Yasufumi; Attaviriyanupap, Pathom; Kataoka, Yoshihiko

In this research, the fundamental premises for deregulation of the electric power industry are reevaluated. The authors develop a simple model to represent wholesale electricity market with highly congested network. The model is developed by simplifying the power system and market in New York ISO based on available data of New York ISO in 2004 with some estimation. Based on the developed model and construction cost data from the past, the economic impact of transmission line addition on market participants and the impact of deregulation on power plant additions under market with transmission congestion are studied. Simulation results show that the market signals may fail to facilitate proper capacity additions and results in the undesirable over-construction and insufficient-construction cycle of capacity addition.

Electricity and gas market Observatory - 1. Quarter of 2013

International Nuclear Information System (INIS)

2013-03-01

The purpose of the Observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. Since 2013, it also covers the wholesale CO 2 market. This Observatory is updated every three months and data are available on CRE web site (www.cre.fr)

75 FR 71097 - Commission Information Collection Activities (FERC-919); Comment Request; Submitted for OMB Review

Science.gov (United States)

2010-11-22

... power analyses allow the Commission to monitor changes in a seller's market presence or potential abuses of market power. The use of the Order No. 697 screens and reviews for market power for all companies... means wholesale power marketers and wholesale power producers that own or control 500 MW or less of...

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

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

Competitive electric power markets and grid reliability : something has changed during the past decade

International Nuclear Information System (INIS)

Fluckiger, K.

2005-01-01

This white paper reviewed some of the fundamental changes in the way in which electricity is provided to customers. Previously, electricity was delivered by integrated electric utilities that owned both generation and transmission and directly served their customers. Restructuring altered the rules that govern control, operation, ownership and regulation of the industry. The traditional integrated utility has been disaggregated. Wholesale electricity costs are no longer regulated and prices are now set by supply and demand in a market context. Generation investment decisions are based on future expectations of market performance. It was suggested that transmission should become a facilitator of the competitive market. Inter-ties are an essential part of a competitive market, as a means to import power when needed and to export surplus energy. The role of transmission in facilitating new generation by providing non-discriminatory and efficient transport to the market was discussed. It was noted that the lack of transmission investment is resulting in economic penalties, rising losses and constraints on more economic generators. Transmission congestion is counterproductive to the interests of customers. A move away from regional planning to a recognition of the wider interconnectedness of the system was recommended. The current practice of deferring necessary maintenance as a way to generate short-term profit was examined. It was noted that despite the need for new transmission infrastructure, investment in merchant alternating current projects has been slow to materialize. Other challenges to transmission included the uncertainty of regulatory processes and investment recovery as well as the unpredictability of flow patterns in the bulk power system. It was concluded that competitive generation markets will not work with an inadequate transmission infrastructure. Transmission enables new generation by ensuring non-discriminatory and efficient transport to market

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

It extended for come into force the Electric Energy Whole Sale Market regulation and annexes

International Nuclear Information System (INIS)

2003-01-01

It has seen seen the deadline set by the decree no. 86 March 5, 2003 for entry into force of the Regulation of wholesale power market and the desirability to adapt the wording of its provisions and for reasons of urgency.

The power of competition

International Nuclear Information System (INIS)

Fuqua, G.L.; Pratt, J.H.; Elliot, J.

1995-01-01

The change-over from regulated monopolies to a non-regulated competitive market in the electric utility industry was discussed in terms of marketing and survival strategies for utilities it the newly competitive marketplace. The impact of low natural gas prices was prominently discussed as a danger to hydroelectricity generators because high efficiency turbine generators that are now available. Surplus power capacity in both the Canadian and US markets were discussed. The effects of independent power producers selling electricity wholesale to private utilities was also debated on account of its potential to change the role of the electric utility. The situation of the Bonneville Power Association (BPA), a self-financed government agency, as owner of 15 000 miles of transmission grid that is not allowed to own generation plants, was described. Strategies developed by BPA in an effort to adapt to the competitive market were described and were successful

Electricity and gas market observatory. 4. Quarter 2007; Observatoire des marches de l'electricite et du gaz 4. trimestre 2007

Energy Technology Data Exchange (ETDEWEB)

NONE

2007-07-01

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

Electricity and gas market observatory. 1. Quarter 2008; Observatoire des marches de l'electricite et du gaz 1. trimestre 2008

Energy Technology Data Exchange (ETDEWEB)

NONE

2008-07-01

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

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....

77 FR 9225 - Notice of Effectiveness of Exempt Wholesale Generator Status

Science.gov (United States)

2012-02-16

... DEPARTMENT OF ENERGY Federal Energy Regulatory Commission Notice of Effectiveness of Exempt Wholesale Generator Status Docket Nos. Fire Island Wind, LLC EG12-9-000 Kaheawa Wind Power II, LLC EG12-12-000 Broken Bow Wind, LLC EG12-13-000 Crofton Bluffs Wind, LLC EG12-14-000 NRG Texas Power LLC EG12-15...

Contrariety of Private Monopoly and Open Market

International Nuclear Information System (INIS)

Terzic, B.

2011-01-01

America's evolving electricity markets offer significant lessons for the European Union and non-EU countries aspiring to introduce competition into the electricity sector of their economies. These lessons must be understood, however, in the context of the United States' unique mix of asset ownership, regulatory bifurcation between state and federal agencies and its national energy and electricity policy history. It is in the context that lessons can be drawn from the period of 1999-2002 where the US saw the failure of one large power market in California and the success of a similary sized market in Pennsylvania, New Jersey and Maryland (the PJM). Subsequent state policy decisions to move ahead with subsidized renewable energy production, demand-side management and 'smart grid' improvements have further complicated state and federal relations and federal regulations of wholesale power markets. (author)

76 FR 67259 - Frequency Regulation Compensation in the Organized Wholesale Power Markets

Science.gov (United States)

2011-10-31

... of varying resource mixes on the transmission grid. \\6\\ A balancing authority achieves acceptable.... Provision by other resources is emerging, as technologies develop and tariff and market rules adapt to... reality, they are not,\\21\\ and that slower, larger resources are being given a compensatory advantage for...

New plans for increasing transmission and intertie capacity : moving towards a more integrated power market in Atlantic Canada

International Nuclear Information System (INIS)

Roberge, F.

2003-01-01

This PowerPoint presentation provided a brief review of the electric power industry in Quebec after deregulation. It included an outline of non-regulated activity and regulated activities in terms of power generation, transmission, distribution and customer service. Both the transmission and distribution components of the power industry in Quebec are regulated by the Regie de l'energie. Transmission networks offer access to all wholesalers. Quebec does not have an energy spot market and electricity prices are currently very low. Hydro-Quebec TransEnergie was created in 1997 as a functionally independent open access transmission provider with high reliability standards. TransEnergie can address seams issues with neighbouring networks. The three types of services offered in terms of tariffs were also discussed in this presentation along with data regarding Hydro-Quebec assets, revenue and net income. Hydro-Quebec's relation with the Atlantic provinces were also described. Interconnection with New Brunswick totals 785 MW. No new interconnection is planned. 1 tab., 4 figs

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)

The Nome law compromise: the limits of a market system with weak economic principles

International Nuclear Information System (INIS)

Finon, D.

2010-01-01

The NOME law aims for two principle objectives in terms of competition: one objective is to increase the share of the market for the rivals of the historic suppliers, and the other is to develop retail competition that will lead to competitive prices, consistent with the current cost of nuclear kWh. This is brought about through a regulation of prices and of the quantity of wholesale trades by allocating drawing rights on nuclear power to alternatives, and through control mechanisms that dissuade the buyers of these rights om arbitrating the European wholesale market. We show then that it is necessary to leave the canonic running of the electricity retail market to succeed in decoupling retail prices om wholesale prices. We identify the importance of the historic suppliers' role as a linchpin that in practice defines retail prices, as well as handling market distribution between themselves and the alternatives. We note the special nature of retail prices as coming not from market balance, but rather as being a rice defined under political injunction, which is therefore implicitly regulated. With weak economic foundations, the system can be pushed of course by the effect of competition alone, in particular when we reach the allocation limit of a quarter of nuclear energy production. It has an equally weak legal basis with respect to European case law. That raises doubt about its sustainability. (author)

Marginal Cost Pricing in a World without Perfect Competition: Implications for Electricity Markets with High Shares of Low Marginal Cost Resources

Energy Technology Data Exchange (ETDEWEB)

Frew, Bethany A. [National Renewable Energy Lab. (NREL), Golden, CO (United States); Clark, Kara [National Renewable Energy Lab. (NREL), Golden, CO (United States); Bloom, Aaron P. [National Renewable Energy Lab. (NREL), Golden, CO (United States); Milligan, Michael [National Renewable Energy Lab. (NREL), Golden, CO (United States)

2017-12-02

A common approach to regulating electricity is through auction-based competitive wholesale markets. The goal of this approach is to provide a reliable supply of power at the lowest reasonable cost to the consumer. This necessitates market structures and operating rules that ensure revenue sufficiency for all generators needed for resource adequacy purposes. Wholesale electricity markets employ marginal-cost pricing to provide cost-effective dispatch such that resources are compensated for their operational costs. However, marginal-cost pricing alone cannot guarantee cost recovery outside of perfect competition, and electricity markets have at least six attributes that preclude them from functioning as perfectly competitive markets. These attributes include market power, externalities, public good attributes, lack of storage, wholesale price caps, and ineffective demand curve. Until (and unless) these failures are ameliorated, some form of corrective action(s) will be necessary to improve market efficiency so that prices can correctly reflect the needed level of system reliability. Many of these options necessarily involve some form of administrative or out-of-market actions, such as scarcity pricing, capacity payments, bilateral or other out-of-market contracts, or some hybrid combination. A key focus with these options is to create a connection between the electricity market and long-term reliability/loss-of-load expectation targets, which are inherently disconnected in the native markets because of the aforementioned market failures. The addition of variable generation resources can exacerbate revenue sufficiency and resource adequacy concerns caused by these underlying market failures. Because variable generation resources have near-zero marginal costs, they effectively suppress energy prices and reduce the capacity factors of conventional generators through the merit-order effect in the simplest case of a convex market; non-convexities can also suppress prices.

A Bayesian inference approach to unveil supply curves in electricity markets

DEFF Research Database (Denmark)

Mitridati, Lesia Marie-Jeanne Mariane; Pinson, Pierre

2017-01-01

in the literature on modeling this uncertainty. In this study we introduce a Bayesian inference approach to reveal the aggregate supply curve in a day-ahead electricity market. The proposed algorithm relies on Markov Chain Monte Carlo and Sequential Monte Carlo methods. The major appeal of this approach......With increased competition in wholesale electricity markets, the need for new decision-making tools for strategic producers has arisen. Optimal bidding strategies have traditionally been modeled as stochastic profit maximization problems. However, for producers with non-negligible market power...

Evaluation of the Development of the Renewable Energy Markets in Russia

Directory of Open Access Journals (Sweden)

Irina Aleksandrovna Grechukhina

2016-12-01

Full Text Available The aim of this study is to systemize and present the quantitative and quality evaluation of the economic and non-economic effects of the implementation of the new mechanism of the support of renewable energy in Russia. It should allow meeting the middle-term goal of 2.5 % of renewables at the Russian wholesale electricity market by 2024. To achieve this aim, in the introduction part of the article, a detailed description of the new mechanism of the support of the renewable energy in Russia is presented. It is based on the payment for energy in the wholesale electricity market. The estimated aggregate positive effect resulting from this mechanism’s implementation was expected as follows: a replacement of non-renewable fossil fuels to renewable energy, b reduction of carbon dioxide emissions, c the average prices reduction in the wholesale electricity market, d reduction of the costs on environmental measures and health protection measures in traditional power generation, e creating new jobs, f reduction of fresh water used for cooling in traditional power generation, g multiplicative effects from the development of renewable energy and etc. The resulting economic effect is estimated at 47.77 billion rubles per year by 2024. The authors relied on expert estimates, forecasts of the Ministry of Energy and the Ministry of Economic Development, the Russian Energy Agency, the International Energy Agency, the International Agency for Renewable Energy, the Renewable Energy Policy Network for the 21st Century, the experience of foreign countries, the data of Russian Federal State Statistics Service.

Dynamic Interaction between Cap & Trade and Electricity Markets

Science.gov (United States)

Jeev, Kumar

Greenhouse Gases (GHG), such as Carbon-Dioxide (CO2), which is released in the atmosphere due to anthropogenic activities like power production, are now accepted as the main culprits for global warming. The Regional Greenhouse Gas Initiative (RGGI), an initiative of the North East and Mid-Atlantic States of the United States (US) for limiting the emission of GHG, has developed a regional cap-and-trade program for CO2 emissions for power plants. Existing cap-and-trade programs in US and Europe for Greenhouse Gases have recently been plagued by over-allocation. Carbon prices recently collapsed in all these markets during the global recession. Since then, there have been significant policy changes, which have resulted in the adoption of aggressive emission cap targets by most major carbon emission markets. This is expected to make carbon emissions availability more restrictive, raising the prices of these credits. These emissions markets are expected to have a major impact on the wholesale electricity markets. Two models to study the interaction of these two markets are presented. These models assess the impact of the emissions market on wholesale electricity prices. The first model characterizes the competition between two types of power plants (coal and gas) in both the electricity and emissions markets as a dynamic game using the Cournot approximation. Under this approximation, we find that in the Nash equilibrium the plants increase their permit allocation to high-demand periods and the marginal value of each credit for a plant is identical in all periods under their optimal equilibrium strategy. The second numerical model allows us to explicitly evaluate the closed loop equilibrium of the dynamic interaction of two competitors in these markets. We find that plants often try to corner the market and push prices all the way to the price cap. Power plants derive most of their profits from these extreme price regimes. In the experiments where trading is allowed

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

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

Institutional framework of the Chinese power sector. Background and overview paper on the status quo and reforms of the Chinese power sector