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Deregulated electricity markets in the U.S. currently minimize total bid costs to select bids and their generation levels but determine payments based on market clearing prices. The inconsistency between auction and settlement mechanisms can lead to a significantly higher consumer payment. This gives rise to the “payment cost minimization,” an alternative auction mechanism that minimizes consumer...
Negotiation of secure bilateral transactions has become an important issue for better operation, planning and management of competitive electricity markets. In this paper, secure bilateral transactions have been determined with minimum deviations in economic generation schedule and real power losses for hybrid electricity markets. The generation pattern and real and reactive power loss has been obtained...
The increase in the number of requests from Independent Power Producers - IPPs to access the distribution network close to load centers, as Distributed Generation, requires the development of new methodologies to quantify the impact of these units in the system. The connection of these generators, which may be associated with renewable energy sources of intermittent nature, such as wind energy, causes...
With the challenge of climate change, many governments around the world are focusing on reducing emissions of carbon through energy efficiency improvements, particularly in the rapidly-growing electricity demand. There are great potentials in this sector for reducing emissions in both supply-side and demand-side. On the supply-side, thermal power plants are major contributors to CO2 emissions. Promoting...
This paper presents an analytical model for wind power investment. Most generation planning problems are formulated in multiperiod mixed integer programming with cost minimization as objective. We try to resort to finance literature for models able to systematically characterize return and risk. Real option theory is chosen. A primitive function is defined for the fuel cost able to be saved as the...
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