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Power Market (power + market)
Selected AbstractsINNOVATION AND COMPETITION IN GENERATION AND RETAIL POWER MARKETSECONOMIC AFFAIRS, Issue 2 2010Elizabeth Hooper There has been considerable merger activity in EU energy markets in recent years. It could be argued that competition authorities should be required to take into account potential innovation effects of mergers. In the UK, regulators are now trying to achieve multiple objectives within the current framework. There is a danger that if markets are expected to deliver mutually incompatible objectives they will be unable to achieve any of them. [source] Economic evaluation of demand-side energy storage systems by using a multi-agent-based electricity marketELECTRICAL ENGINEERING IN JAPAN, Issue 3 2009Ken Furusawa Abstract With the wholesale electric power market opened in April 2005, deregulation of the electric power industry in Japan has faced a new competitive environment. In the new environment, Independent Power Producer (IPP), Power Producer and Supplier (PPS), Load Service Entity (LSE), and electric utility can trade electric energy through both bilateral contracts and single-price auction at the electricity market. In general, the market clearing price (MCP) is largely changed by the amount of total load demand in the market. The influence may cause a price spike, and consequently the volatility of MCP will make LSEs and their customers face a risk of higher revenue and cost. DSM is attractive as a means of load leveling, and has an effect on decreasing MCP at peak load period. Introducing Energy Storage systems (ES) is one DSM in order to change demand profile at the customer side. In the case that customers decrease their own demand due to increased MCP, a bidding strategy of generating companies may be changed. As a result, MCP is changed through such complex mechanism. In this paper the authors evaluate MCP by multi-agent. It is considered that customer-side ES has an effect on MCP fluctuation. Through numerical examples, this paper evaluates the influence on MCP by controlling customer-side ES corresponding to variation of MCP. © 2009 Wiley Periodicals, Inc. Electr Eng Jpn, 167(3): 36,45, 2009; Published online in Wiley InterScience (www.interscience.wiley.com). DOI 10.1002/eej.20658 [source] Coordinated voltage control of transformer taps with provision for hierarchical structure in power systemELECTRICAL ENGINEERING IN JAPAN, Issue 4 2009Yoshiki Nakachi Abstract Participation of distributed generators (DGs), such as wind turbines, cogeneration systems, etc., is a natural trend from an ecological point of view and will continue to increase. The outputs of these DGs mainly depend on weather conditions but do not correspond to the changes of electrical load demand necessarily. On the other hand, due to deregulation of the electric power market, the power flow in a power system will uncertainly vary with several power transactions. Thus, complex power flow by DGs or transactions will cause voltage deviation. It will be difficult to sustain the voltage quality by using conventional voltage/reactive power control in the near future. In this paper, in order to avoid such voltage deviation and to decrease the frequency of transformer tap operations, the coordinated voltage control scheme of transformer taps on account of hierarchical structure in the power system is proposed. In the proposed scheme, integral of voltage deviation at each layer bus is applied to decide the timing of each transformer tap operation. Numerical simulations confirm that the proposed scheme is able to respond to every condition on voltage deviation. © 2008 Wiley Periodicals, Inc. Electr Eng Jpn, 166(4): 48,55, 2009; Published online in Wiley InterScience (www.interscience.wiley.com). DOI 10.1002/eej.20531 [source] Efficiency of the German electricity wholesale marketEUROPEAN TRANSACTIONS ON ELECTRICAL POWER, Issue 4 2009Christian Growitsch Abstract One of the major challenges of liberalising European electricity markets is to create competitive and efficient power trading markets. In this paper, we assess the overall efficiency of the German electricity wholesale market using cointegration analysis and error correction modelling. Applying these techniques allows us to evaluate the wholesale market efficiency in terms of price adjustments and the rapidity towards the adjustment in the price discovery and adjustment process. We show that the wholesale market seems to be inefficient and not well functioning. The inability of European Energy Exchange spot market in providing an efficient price reference to the power market suggest that the power exchange still lacks liquidity. Second, our results indicate that bilateral contracts keep the wholesale electricity prices intact with the EEX prices and also stabilise the volatility in the German wholesale market. Also, the econometric results suggest that the existence of the OTC market along with power exchange is creating a competitive effect in the wholesale market in Germany. Copyright © 2009 John Wiley & Sons, Ltd. [source] Transmission network expansion planning with security constraints based on bi-level linear programmingEUROPEAN TRANSACTIONS ON ELECTRICAL POWER, Issue 3 2009Hong Fan Abstract In deregulated power market, multiple conflicting objectives with many constraints should be balanced in transmission planning. The primary objective is to ensure the reliable supply to the demand as economically as possible. In this paper, a new bi-level linear programming model for transmission network expansion planning (TNEP) with security constraints has been proposed. The modeling improves traditional building style by adding reliability planning into economy planning as constraints, letting optimal planning strategy be more economic and highly reliable. A hybrid algorithm which integrates improved niching genetic algorithm and prime-dual interior point method is newly proposed to solve the TNEP based on bi-level programming. The advantages of the new methodology include (1) the highest reliability planning scheme can be acquired as economically as possible; (2) new model avoids the contradictions of conflicting objectives in TNEP, and explores new ideas for TNEP modeling; (3) the proposed hybrid algorithm is able to solve bi-level programming and fully manifests the merits of two algorithms as well. Simulation results obtained from two well-known systems and comparison analysis reveal that the proposed methodology is valid. Copyright © 2008 John Wiley & Sons, Ltd. [source] A risk-based approach for bidding strategy in an electricity pay-as-bid auctionEUROPEAN TRANSACTIONS ON ELECTRICAL POWER, Issue 1 2009Javad Sadeh Abstract With the reform of electric power industry and the development of electrical energy markets in many countries, it is of significance to develop bidding strategies for generation companies (GenCos). In this environment, one of the most challenging and important tasks for a GenCo is developing effective strategies to optimize hourly offer curve. In this paper, focusing on Iran's electricity market structure, we model the bidding problem from the viewpoint of a GenCo in a pay-as-bid (PAB) auction. Our goal is to present a tool for determining the optimal bidding strategy of a price-taker producer in an electricity PAB auction taking into account the relevant risks. Due to uncertainties in power market, the market-clearing price (MCP) of each hour is assumed to be known as a probability density function (pdf). The optimal solution of bidding problem is obtained analytically based on the classical optimization theory. Also, the analytical solution for a multi-step bid protocol is generalized and the properties of the generalized solution are discussed. A model is developed to consider concept of risk using two different methods. The two proposed methods are then compared and the results interpreted using numerical examples. In addition, the effect of variation of MCP's pdf parameters on supplier's profit is studied. Copyright © 2007 John Wiley & Sons, Ltd. [source] Decision support for network operation in an open power marketEUROPEAN TRANSACTIONS ON ELECTRICAL POWER, Issue 4 2007Geir Warland Abstract The Norwegian system operator plans to change from (N-1) to a more flexible cost-based security criterion. The approach is illustrated using a simple example and then compared with alternative decision paradigms. The comparison shows how different paradigms may change ranking of operating alternatives and that the new cost-based criterion still tends to favor alternatives close to (N-1), provided application of a penalty factor giving additional and significant weight on interruption costs. Copyright © 2007 John Wiley & Sons, Ltd. [source] Successive expansion method of network planning applying symbolic analysis methodEUROPEAN TRANSACTIONS ON ELECTRICAL POWER, Issue 4 2002kokljev The conventional power system network successive expansion planning method is discussed in the context of the new paradigm of competitive electric power, energy and service market. In sequel, the paper presents an application of the conceptually new computer program, based on the symbolic analysis of load flows in power system networks. The network parameters and variables are defined as symbols. The symbolic analyzer which models analytically the power system DC load flows enables the sensitivity analysis of the power system to parameter and variable variations (costs, transfers, injections), a valuable tool for the expansion planning analysis. That virtue could not be found within the conventional approach, relying on compensation methods, precalculated distribution factors, and so on. This novel application sheds some light on the traditional power system network expansion planning method, as well as on its possible application within the system network expansion planning in the new environment assuming the competitive electric power market. [source] Non-linear approaches for reducing large power systemsEUROPEAN TRANSACTIONS ON ELECTRICAL POWER, Issue 3 2001X. Lei Issues on the establishment of equivalent networks are becoming essential for the deregulated power market. This paper presents a comprehensive tool for network reduction of large power systems. Through integrating different methodologies into a simulation program, the dynamic equivalent can be established by adopting one common database. With a readily integrated modified Gauss-Newton algorithm, network reduction can be executed under the dynamic conditions either in the time domain or in the frequency domain in coping with nonlinear nature of the system involved. Furthermore, a novel algorithm based on dynamic coherency approach implemented readily into the simulation program is also presented. This novel approach determines coherent generators on non-linear basis in the time domain using the cross correlation technique, taking dynamic characteristics of the system involved into consideration. Two case studies are presented in this paper. Each of the non-linear approaches presented is applied for one of the case studies as application example. The results achieved validate the functionality of the approaches presented. [source] Economic analysis of small photovoltaic facilities and their regional differencesINTERNATIONAL JOURNAL OF ENERGY RESEARCH, Issue 3 2004M. Varela Abstract Small grid-connected photovoltaic (PV) facilities in Spain receive either a premium of 0.36, kWh,1 over the average price on the power market or a fixed price of 0.40, kWh,1. However, legislation on this matter (Royal Decree 2818/98) requires a periodic review of these figures. The basis of on-going revision of these prices has been their profitability. However, the economic success of such PV facilities is clearly affected by the amount of solar radiation at the site where they are located. Since Spain is between latitudes 44 and 36° in the northern hemisphere, the feasibility of these systems must be analysed for different regions. Two different models have been used to produce the required input data for such an analysis: a model that generates typical solar radiation years and temperatures taken from satellite images and an empirical model for the prediction of daily power produced by a grid-connected photovoltaic system. From the results of this regional economic analysis, it may be concluded that the existing prices are insufficient in and of themselves to make these small grid-connected systems profitable anywhere in Spain. To guarantee the economic feasibility of these PV installations in any given location, the fixed price paid for the electricity should be around 0.93, kWh,1. Nevertheless, if the Government were to double the current fixed price, in consideration of the slow increase in the PV market in recent years, this would mean that small grid-connected installations would become profitable in at least 77% of the Spanish territory. Copyright © 2004 John Wiley & Sons, Ltd. [source] Analysis of effects of contracts on the stability of dynamic power marketsEUROPEAN TRANSACTIONS ON ELECTRICAL POWER, Issue 1 2009Jia Yan-Bing Abstract Experiences with operations of power markets show that contracts may affect stability of markets. Therefore, it is necessary to consider whether the market with bilateral contracts will lead to a stable equilibrium conditions after the market is exposed to certain kinds of disturbances. In this paper, the dynamic behaviour of power markets is expressed by differential/algebraic equations, and eigenvalue analysis is used to study effects of contracts on stability of the model. Results of the analysis show that suitable relative ratio of contracts can improve the stability of power markets and even make the unstable markets stable. On the other hand, unsuitable relative ratio of contracts may deteriorate the stability of markets. Copyright © 2007 John Wiley & Sons, Ltd. [source] Advanced and intelligent technologies for reliable operation of power systems and electricity marketsIEEJ TRANSACTIONS ON ELECTRICAL AND ELECTRONIC ENGINEERING, Issue 5 2008Ryuichi Yokoyama Senior Member Abstract Deregulation of power industries is still progressing in many countries, aiming at reduction of the electricity price, diversity of customer diverse choices, services and promotion of new business and keeping supply reliability. Many countries are testing this notion in anticipation of lower power prices through open competition. In such a competitive situation, it is necessary for suppliers to take on the responsibility of keeping supply reliability at the load end in order to prevent outages, for instance, independent power producers (IPP) placing distributed generations (DGs) close to the load or conventional utilities utilizing advanced and intelligent system operation/control technologies that are costly. Usually, customers pay one price for power that is good enough for ordinary use, therefore not necessarily highly consistent in quality of voltage, current, frequency or reliability. However, if customers desire better quality power, additional fees are added according to the particular characteristics desired, thus customers are supplied with this type of better power that they choose. Under such a worldwide new trend in power systems and markets, this article is edited for the purpose of introducing the most advanced technologies and the newest issues related to reliable and stable operations of power markets and systems in the competitive environment. © 2008 Institute of Electrical Engineers of Japan. Published by John Wiley & Sons, Inc. [source] | ||||||||||