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Several European countries are increasingly focusing on renewable energy in order to satisfy their demand. A core problem of these sources is their reliability, which means less continuously available energy is accessible. Smart grids are trying to cope with this problem by adding intelligence to the net, which tries to adjust the load according to the current produced amount of electrical energy...
Abstract-Approval standard of electricity price is currently the focus of discussion in the national wind power industry. How to determine an appropriate electricity tariff to promote the sustainable and healthy development of wind power is the urgent problem that wind power company need to solve. In this paper, a generation cost assessment model for wind power is established, taking the cost accounting...
This paper proposes a new mechanism to give added incentive to invest in new capacities in deregulated electricity markets. An optimization problem to maximize long term social welfare includes binary variables for the building of new facilities, and continuous variables for generation, i.e. the model is a mixed integer nonlinear program. The new mechanism also includes a new approach to calculate...
Electricity markets are currently evolving to accommodate large scale penetration of wind generation. In this research, potential changes to the classification and role of wind generators in the Single Electricity Market (SEM), the market for Northern Ireland and the Republic of Ireland, are examined. The effect of wind generators opting to become price-making and the potential for wind generators...
Hybrid wind-Diesel stand alone system sizing accounting for fuel price uncertainty is considered. The starting point is constituted by a previously developed deterministic model able to minimize longterm total costs of the system, accounting also for parameters affecting expected lives of relevant components. Due to the sensitiveness of the solution of the problem to the uncertainty of fuel price...
Rather than orienting rooftop installation of photovoltaics (PV) to maximize power for the individual customer-generator, we analyze design and performance of integrated PV for two alternate objectives: 1.) maximizing the volume of grid sellbacks, and 2.) maximizing customer-generator revenue through net metering. These alternative orientation strategies attempt to maximize power output during times...
Liberalization and privatization in the electricity industry have led to increased competition. At the same time, generation companies are now exposed more than ever to risk and uncertainties which they cannot pass through to their customers in the form price increases as in a regulated environment. The central challenge for electricity generators is to maximize profits under uncertainty. But this...
This paper presents a comprehensive modeling approach that addresses the long-term generation expansion planning problem for an investor firm operating in a deregulated market environment. The mathematical model facilitates the ability of multi-period investments in multi-technology generation options. This work provides insight into the nature of the planning problem by determining optimal timing...
The market price for electrical energy is one of the main decisive factors for operational and strategic questions of power generation companies (PGC). Using market simulation methods which simulate the market for electrical energy the price development can be investigated. However, the deficit of typical market simulation methods is, that these methods in general not consider all cost components...
This paper proposes feed-in tariff scheme as investment incentive to promote wind energy generation under a regulated environment. The tariff design problem is to determine proper price premium that would be added to electricity purchasing rate when electricity generation is from wind energy. The problem was formulated as a mixed-integer nonlinear programming and solved for optimum capacity and price...
Marginal prices have been recognized as the core approach to the economic evaluation of generation and transmission services in an electricity market environment. In this context, this paper presents the new fuzzy optimal power flow algorithm as a model to addresses the impact of load and generation cost uncertainties in nodal marginal prices. Since loads and generation costs are represented by fuzzy...
This paper applies ELMOD, an economic-engineering model of the European electricity market to the issue of optimal investment placing of generation capacity in Germany under different market integration scenarios. The model is formulated as cost minimization approach. We conduct a scenario analysis comparing different rules for power plant placing in a national, a market-coupling and an integrated...
In this paper, time series models are estimated on daily average day-ahead prices quoted on the Italian power exchange (IPEX) between April 2004 and December 2008. We show that the EGARCH model outperforms ARMAX models in terms of forecasting power, and that IPEX prices are characterized by a leverage effect. We then add dummies to the ARMAX and EGARCH specifications in order to control for the impact...
In the last few years we have observed deregulation in electricity markets and an increasing interest of price dynamics has been developed especially to consider all stylized facts shown by spot prices. Only few papers, to the authors' knowledge, have considered the Italian Electricity Spot market since it has been deregulated recently. Therefore this contribution is an investigation with emphasis...
As the amounts of installed wind power increases in the power system, the required real-time balancing quantities increases because of the unpredictability of wind power production. Real-time balancing power is usually provided through various market solutions and thus, the prices on such markets will be affected by the increase in wind power production. Consequently, there exist a need for planning...
With the organizational reform of electric power industry in our country day by day, and the market of generation side gradually maturing, the construction of ancillary services market was brought into schedule. As one of the most important ancillary services, AGC possesses certain competitiveness so far as its own characteristics and supply trend of the electrical network, and marketization is relatively...
The bidding strategies of power generations in the market are a dynamic and complex problem. It is difficult to analyze and computer with the traditional mathematical methods, which is conspicuous in the middle or long-term transactions. This paper proposes a model, it is the middle or long-term bidding strategy in two-tiers electricity market that is based on the optimal power flow (OPF) . Uncertainties...
Having studied the linkage between the unit output change and the power price fluctuation, and synthesized the bidding risk exponent, environmental protection cost, generation cost and unit valve point effect, the optimal response model of thermal units to the electricity spot market was established. The objective is to guarantee generating and bidding of generating side in electricity market with...
The electric power industry in the last decades has evolved from a centralized operational approach to a deregulated one. Many participants and service providers have made up the new structure of the power market where the competition is increasing. As the new deregulating framework is imperfect, it is quite important for the Gencos to develop optimal bidding strategies which are vital to their benefits...
The distributed generation (DG) acts an important role in the reliability of electric power system. In power market, with the rapid development of DG in recent years, it is necessary to discern and calculate the value of possible economic contract between the DG and the integrated main power grid, in which the DG and the main grid serve as reserve capacity for each other. The problem of possible options...
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