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Electricity supply industry worldwide has been identified as a major source of greenhouse gas emissions. Consequently, many countries have started to implement emission trading schemes (ETS). Separate and evolving public policy debates are shaping Electricity Market, Carbon Market, and Renewable Market without attention to how each market affects the others, yet the markets have overlapping goals...
[Summary form only given]. In a restructured power market, the network cost is to be allocated between multiple players utilizing the system in varying capacities. Cooperative game approaches based on Shapley Value and Nucleolus provide stable models for embedded cost allocation of power networks. Varying network usage necessitates the introduction of probabilistic approaches to cooperative games...
As part of the CAISO market redesign, the Market Quality System (MQS) represents an important subsystem that manages the market result data, facilitates after-the-fact data corrections, and most importantly, computes the settlement needed intermediate results. Most of the intermediate results calculated by the MQS are the 5-minute based, granular, expected energy and allocation results per each expected...
The California Independent System Operator Corporation (CAISO) has embarked in a profound redesign of its electricity market. With its market launched on April 1st, 2009, the CAISO introduced new financial products to improve the efficiency of the markets and reliability of the system operation. The introduction of new products, compounded with the recent financial turmoil, has posed challenges for...
The California Independent System Operator (CAISO) successfully launched its new Market Redesign and Technology Upgrade (MRTU) on April 1st, 2009. The new design is based on Locational Marginal Prices (LMPs) with Day Ahead and Real Time submarkets. The energy market is supplemented with a Congestion Revenue Right (CRR) market. With the major redesign of the CAISO markets, the implementation has proved...
Wind energy is the fastest growing energy source in the world. However, due to the inherent issues of intermittency and remoteness the need to complement wind energy with storage is well-recognized. Pumped Hydro Electric Storage units are the established and most widely studied application. Other technologies like flow (ZnBr) and NaS batteries are emerging but are still not considered economically...
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