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The traditional grid design for securing reliability and trade-offs between lines and plants economically can no longer satisfy new role of power grid in open power market environment. Following deregulation of the electricity supply industry, the role of power grid has changed profoundly including a need to provide open access to all generators of large and small scale of which the grid is simply...
Bid format is a crucial feature of electricity market mechanism. Correspondingly, in agent based electricity market simulation, how to model agent's bid format and represent action domain is also an important aspect to construct a valid learning method. In this paper, two methods to generator agents' action domains are presented and their effects to the simulation result are analyzed on a 4-generator...
To support real power transfers, the system operators of power market must ensure that voltage throughout the network is maintained within acceptable levels under normal and abnormal contingent conditions in order to prevent loss of loads and to keep system reliability. In a competitive power market environment, reactive power is procured as an essential ancillary service. Various methods of procurement...
In open electricity supply industry, power market simulation has been accepted as a versatile tool for effective information integration and realization of different functional modules in power markets. Based on the general structure of the electricity markets, a simulator for pool-model electricity markets is presented in this paper. A Browser/Client/Sever structure electricity market simulator is...
Electricity is a unique commodity and power price can fluctuate very severely in spot market making electricity supply industry a risky business for market participants. Mitigating risk becomes an urgent need for market participants. Benefit balance is a basic principal to carry out option. Each unit of power in the one-way option should produce the same benefit and utility to the market participants...
Based on the general structure of the electricity markets, a simulator for day-ahead electricity markets is presented in this paper. A Web-based electricity market simulator is designed and developed on an ASP.NET 2.0 platform. The simulator is of good flexibility and extensibility for simulating the operation of the day-ahead electricity markets, calculating the market clearing prices and dispatched...
In this paper, fundamental rationale for setting up performance criteria is discussed and based on which an index scheme of evaluation is envisaged for use on evaluating performance of various major stake holders in the open electricity market environment. Special reference will be made to the China's stated objective of reform in the electricity supply industry as to enhance the utilities performance...
This paper analyzes the issues related to the sustainable development in the reformed electricity industry and proposes a governance framework that addresses the interactions among social, technological and ecological systems. A multi-actor facet of governance is introduced with three stages of identifications. In the first stage, the economic and financial obstacles for introducing renewable electricity...
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