Optimal Behavior Modeling and Analysis of Electricity Market Participants
Author: Jie Li
Publisher:
Published: 2012
Total Pages: 300
ISBN-13:
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Restructured Electric Power Systems
Author: Xiao-Ping Zhang
Publisher: John Wiley & Sons
Published: 2010-10-15
Total Pages: 292
ISBN-13: 1118017072
DOWNLOAD EBOOKThe latest practical applications of electricity market equilibrium models in analyzing electricity markets Electricity market deregulation is driving the power energy production from a monopolistic structure into a competitive market environment. The development of electricity markets has necessitated the need to analyze market behavior and power. Restructured Electric Power Systems reviews the latest developments in electricity market equilibrium models and discusses the application of such models in the practical analysis and assessment of electricity markets. Drawing upon the extensive involvement in the research and industrial development of the leading experts in the subject area, the book starts by explaining the current developments of electrical power systems towards smart grids and then relates the operation and control technologies to the aspects in electricity markets. It explores: The problems of electricity market behavior and market power Mathematical programs with equilibrium constraints (MPEC) and equilibrium problems with equilibrium constraints (EPEC) Tools and techniques for solving the electricity market equilibrium problems Various electricity market equilibrium models State-of-the-art techniques for computing the electricity market equilibrium problems The application of electricity market equilibrium models in assessing the economic benefits of transmission expansions for market environments, forward and spot markets, short-term power system security, and analysis of reactive power impact Also featured are computational resources to allow readers to develop algorithms on their own, as well as future research directions in modeling and computational techniques in electricity market analysis. Restructured Electric Power Systems is an invaluable reference for electrical engineers and power system economists from power utilities and for professors, postgraduate students, and undergraduate students in electrical power engineering, as well as those responsible for the design, engineering, research, and development of competitive electricity markets and electricity market policy.
Local Electricity Markets
Author: Tiago Pinto
Publisher: Academic Press
Published: 2021-07-03
Total Pages: 474
ISBN-13: 0128226668
DOWNLOAD EBOOKLocal Electricity Markets introduces the fundamental characteristics, needs, and constraints shaping the design and implementation of local electricity markets. It addresses current proposed local market models and lessons from their limited practical implementation. The work discusses relevant decision and informatics tools considered important in the implementation of local electricity markets. It also includes a review on management and trading platforms, including commercially available tools. Aspects of local electricity market infrastructure are identified and discussed, including physical and software infrastructure. It discusses the current regulatory frameworks available for local electricity market development internationally. The work concludes with a discussion of barriers and opportunities for local electricity markets in the future. Delineates key components shaping the design and implementation of local electricity market structure Provides a coherent view on the enabling infrastructures and technologies that underpin local market expansion Explores the current regulatory environment for local electricity markets drawn from a global panel of contributors Exposes future paths toward widespread implementation of local electricity markets using an empirical review of barriers and opportunities Reviews relevant local electricity market case studies, pilots and demonstrators already deployed and under implementation
Data Analytics in Power Markets
Author: Qixin Chen
Publisher: Springer Nature
Published: 2021-10-01
Total Pages: 292
ISBN-13: 9811649758
DOWNLOAD EBOOKThis book aims to solve some key problems in the decision and optimization procedure for power market organizers and participants in data-driven approaches. It begins with an overview of the power market data and analyzes on their characteristics and importance for market clearing. Then, the first part of the book discusses the essential problem of bus load forecasting from the perspective of market organizers. The related works include load uncertainty modeling, bus load bad data correction, and monthly load forecasting. The following part of the book answers how much information can be obtained from public data in locational marginal price (LMP)-based markets. It introduces topics such as congestion identification, componential price forecasting, quantifying the impact of forecasting error, and financial transmission right investment. The final part of the book answers how to model the complex market bidding behaviors. Specific works include pattern extraction, aggregated supply curve forecasting, market simulation, and reward function identification in bidding. These methods are especially useful for market organizers to understand the bidding behaviors of market participants and make essential policies. It will benefit and inspire researchers, graduate students, and engineers in the related fields.
Power System Optimization
Author: Haoyong Chen
Publisher: John Wiley & Sons
Published: 2017-03-15
Total Pages: 392
ISBN-13: 1118724771
DOWNLOAD EBOOKAn original look from a microeconomic perspective for power system optimization and its application to electricity markets Presents a new and systematic viewpoint for power system optimization inspired by microeconomics and game theory A timely and important advanced reference with the fast growth of smart grids Professor Chen is a pioneer of applying experimental economics to the electricity market trading mechanism, and this work brings together the latest research A companion website is available Edit
Price Forecasting and Optimal Operation of Wholesale Customers in a Competitive Electricity Market
Author: Hamidreza Zareipour
Publisher:
Published: 2006
Total Pages:
ISBN-13:
DOWNLOAD EBOOKElectricity Markets
Author: Sayyad Nojavan
Publisher: Springer
Published: 2021-03-11
Total Pages: 270
ISBN-13: 9783030369811
DOWNLOAD EBOOKThis book analyzes new electricity pricing models that consider uncertainties in the power market due to the changing behavior of market players and the implementation of renewable distributed generation and responsive loads. In-depth chapters examine the different types of market players including the generation, transmission, and distribution companies, virtual power plants, demand response aggregators, and energy hubs and microgrids. Expert authors propose optimal operational models for short-term performance and scheduling and present readers with solutions for pricing challenges in uncertain environments. This book is useful for engineers, researchers and students involved in integrating demand response programs into smart grids and for electricity market operation and planning. Proposes optimal operation models; Discusses the various players in today's electricity markets; Describes the effects of demand response programs in smart grids.
Mathematical Modelling of Contemporary Electricity Markets
Author: Athanasios Dagoumas
Publisher: Academic Press
Published: 2021-01-30
Total Pages: 444
ISBN-13: 0128218398
DOWNLOAD EBOOKMathematical Modelling of Contemporary Electricity Markets reviews major methodologies and tools to accurately analyze and forecast contemporary electricity markets in a ways that is ideal for practitioner and academic audiences. Approaches include optimization, neural networks, genetic algorithms, co-optimization, econometrics, E3 models and energy system models. The work examines how new challenges affect power market modeling, including discussions of stochastic renewables, price volatility, dynamic participation of demand, integration of storage and electric vehicles, interdependence with other commodity markets and the evolution of policy developments (market coupling processes, security of supply). Coverage addresses all major forms of electricity markets: day-ahead, forward, intraday, balancing, and capacity. Provides a diverse body of established techniques suitable for modeling any major aspect of electricity markets Familiarizes energy experts with the quantitative skills needed in competitive electricity markets Reviews market risk for energy investment decisions by stressing the multi-dimensionality of electricity markets
Dynamic Noncooperative Game Models for Deregulated Electricity Markets
Author: Jose Behar Cruz
Publisher: Nova Science Pub Incorporated
Published: 2009
Total Pages: 105
ISBN-13: 9781607410782
DOWNLOAD EBOOKThe deregulated electricity markets are expected to be perfectly competitive, yet they remain oligopolistic in which the market participants are able to exercise market power to "game" the markets. Game theory, by its nature, is considered as the appropriate framework to study the interactive behaviours of decision makers with conflict of interest. Substantial research has been devoted to study gaming behaviour in the deregulated electricity market using game theory. However, most of the modelling of the markets is static and this type of model leads to non-optimal results for long-term strategic planning due to the inherent dynamic nature of the market. This book formulates and describes the gaming behaviour in the deregulated electricity market from a dynamic point of view, considering long-term interests in a changing environment. It starts with a review of the current situation of deregulation and a brief review of near-term energy issues. The book includes the latest results on bidding dynamic strategies for such markets.
Valuation, Hedging and Speculation in Competitive Electricity Markets
Author: Petter L. Skantze
Publisher: Springer Science & Business Media
Published: 2001-10-31
Total Pages: 240
ISBN-13: 9780792375289
DOWNLOAD EBOOKThe challenges facing participants in competitive electricity markets are staggering: high price volatility introduces significant financial risk into an industry accustomed to guaranteed rates of return, while illiquid forward markets prevent effective hedging strategies from being implemented. Valuation, Hedging and Speculation in Competitive Electricity Markets: A Fundamental Approach , examines the unique properties which separate electricity from other traded commodities, including the lack of economical storage, and the impact of a scarce transmission network. The authors trace the sources of uncertainties in the price of electricity to underlying physical and economic processes, and incorporate these into a bid-based model for electricity spot and forward prices. They also illustrate how insufficient market data can be circumvented by using a combination of price and load data in the marking- to-market process. The model is applied to three classes of problems central to the operation of any electric utility or power marketer; valuing generation assets, formulating dynamic hedging strategies for load serving obligations, and pricing transmission contracts and locational spread options. Emphasis is placed on the difference between trades which can be 'booked out' in the forward markets, and those which must be carried through to delivery. Lately, significant attention has been given to the role of regulators in mitigating excessive price levels in electricity markets. The authors conduct a quantitative analysis of the long-term effects of regulatory intervention through the use of price caps. By modeling the dynamic interplay between the observed price levels and the decision to invest in new generation assets, it is shown how such short term fixes can lead to long term deficits in the available generation capacity, and ultimately to market failures and blackouts.
