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Before deregulation, th Korea Electric Power Corporation (KEPCO) had been a vertically integrated monopoly over power generation, transmission, and distribution. However, the generation competition market based on Cost based pool (CBP) began in April, 2001. The KEPCO generation department has been allocated into six independent GenCos. Before the reform of the power industry that took place in South...
In this paper, an enhanced congestion control scheme for market related applications is presented. Based on the concept of Marginal Value Expansion, violated transmission constraints can be handled more effectively in the optimization process. Compared to the traditional congestion control method, available resources in system can be utilized more sufficiently. The effectiveness of the new scheme...
Since 2004 changes in the regulatory framework of the Chilean public and electricity sectors have been taken place (19940 law in March 2004). Transparency rules must be following by the market agents in pricing procedures of the electricity market. Consequently, technical, economical, and reliability data of the Chilean power system are available for simulation and optimization purposes. The Chilean...
This paper proposes a novel technique to forecast day-ahead electricity prices based on Panel Cointegration (PC). The current researches on the electricity price forecasting focus on the analysis of unstable economic time series. However, due to the difference of the allocation of power resource and consumption in different regions, the time series of electricity consumption and sales price in a single...
California Independent System Operator Corporation (CAISO) is a not-for-profit public benefit corporation in charge of managing the electricity flow along California's open-market wholesale power grid. Recently, the CAISO implemented the nodal LMP electricity market based on full network model and upgraded its infrastructure with new state of the art technology. The implementation of new electricity...
Electricity market players operating in a liberalized environment requires access to an adequate decision support tool, allowing them to consider all the business opportunities and take strategic decisions. Ancillary services represent a good negotiation opportunity that must be considered by market players. For this, decision support tools must include ancillary market simulation. This paper proposes...
Electric power systems are entering a new realm of operations. Large amounts of variable generation tax our ability to reliably operate the system. Couple this with a greater reliance on the electricity network to serve consumer demand that is likely to rise significantly even as we drive for greater efficiency. Trade-offs between energy and environmental needs will be constantly negotiated, while...
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