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This paper presents a software tool (SIMCMTP) that solves congestion situations and evaluates the taxes to be paid to the transmission system by market agents. SIMCMTP provides users with a set of alternative methods for cost allocation and enables the definition of specific rules, according to each market and/or situation needs. With these characteristics, SIMCMTP can be used as an operation aid...
Energy production and consumption cause unintended impacts. Their exclusion by the market leads to suboptimal resource allocations. Conventionally, the market correction is proposed through Pigouvian taxes or Coasian bargaining interventions that shift the equilibrium. The long-life of energy assets and their external impacts need interventions along the future time-path to correct the dynamic equilibrium...
We analyze infinite discrete-time games between hydraulic and thermal power operators in the wholesale electricity market. Two types of games are considered: Cournot closed-loop game and Stackelberg closed-loop game. The hydraulic operator decides the production with respect to the stochastic dynamic constraint on the water stored in the dam. In contrast, the thermal plant is operated with quadratic...
Nowadays, it is possible to sell energy across countries using the existing interconnections. In Europe, one example is the interconnection between France and Spain. These interconnections have limited capacity. Therefore, the right to use the interconnections becomes a valuable position for the different companies and players, due to the spread of electricity prices between countries. The transfer...
In this paper, we develop a two-period model where we analyze and compare a hydro/thermal electrical system under different industrial organization: monopoly, Cournot competition and collusion; under storage constraint, water availability constraint and thermal turbine capacity constraint. First, we prove that the technological complementarity have an important role in the satisfaction of electricity...
Besides allowing competition and security of supply, from the operational point of view an ideal electricity market should lead to a least cost generation program. That is, respecting all security and environmental criteria, there should be no lower cost way to cover the hourly demand. The Spanish bidding design for the spot market, responsible for the final generation program, is found inadequate...
Croatia is today in the first phase of restructuring and opening its electricity market. At this moment, electricity market is open to eligible customers only. Eligible customers are able to choose their supplier and currently these are all non-households. Starting from July 1st, 2008 all customers, including households, will become eligible and the market will hence be fully open. Therefore, a suitable...
In this paper it is proposed a simple, although useful model, intended for electricity markets, which enlightens the analysis of regulatory procedures and their consequences over value creation. Today it is widely recognized that, in regard to public services, the aim of regulation should be to maximize the social wealth added (EWA). This wealth includes consumers surplus (ECA), tributes paid to government...
This paper addresses the problem of transmission loss allocation in a power system where the generators, the demands and the system operator are independent. We suppose that the transmission losses are exclusively charged to the generators, which are willing to adopt a perfectly competitive behavior. In this context, their offers must reflect their production costs and their transmission loss costs,...
The important role of the transmission infrastructure in the development of the internal electricity market is the main issue in this paper. The key question is how to get the former national entities to broaden their scope, thus including the values that trades across former ldquoclosedrdquo borders may realize into the decisions of operations and planning. Further, we discuss the institutional setting...
In this paper, we analyze the influence of forward trading on the volatility of spot power prices, in models where forward contracts are strategic tools used by energy producers to obtain profit security. We define volatility as the variance of the percentage change in spot power prices over a given time interval. As shown in Sapio (2008), volatility is related to stochastic fluctuations in preference...
Short term load forecasting (STLF) plays an important role for the power system operational planners and also most of the participants in the nowadays electricity markets. With the importance of the STLF in power system operation and electricity markets, many methods for arriving careful results, are represented. In this paper, a combination approach for STLF is proposed. The proposed approach is...
This paper presents the main features and the use of the security constrained optimal power flow program, called IPSO (Integrated Power System Optimizer), in the electricity market environment. The finding of the optimal power flow solution is realized with the KNITRO solver developed at Ziena Optimization, Inc. The paper emphasizes the original features of IPSO software such as security constrained...
The Finnish retail electricity market has been fully open for the past ten years. However, it has been estimated that still about 70 per cent of household customers buy electricity from their local incumbent supplier. The Finnish customers have been less active than their Norwegian and Swedish counterparts, although the retail markets were opened approximately at the same time in these three countries...
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