Competitive Electricity Markets Book

Competitive Electricity Markets


  • Author : Fereidoon P. Sioshansi
  • Publisher : Elsevier
  • Release Date : 2011-10-10
  • Genre: Technology & Engineering
  • Pages : 624
  • ISBN 10 : 0080557716

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Competitive Electricity Markets Book Description :

After 2 decades, policymakers and regulators agree that electricity market reform, liberalization and privatization remains partly art. Moreover, the international experience suggests that in nearly all cases, initial market reform leads to unintended consequences or introduces new risks, which must be addressed in subsequent “reform of the reforms. Competitive Electricity Markets describes the evolution of the market reform process including a number of challenging issues such as infrastructure investment, resource adequacy, capacity and demand participation, market power, distributed generation, renewable energy and global climate change. Sequel to Electricity Market Reform: An International Perspective in the same series published in 2006 Contributions from renowned scholars and practitioners on significant electricity market design and implementation issues Covers timely topics on the evolution of electricity market liberalization worldwide

Designing Competitive Electricity Markets Book

Designing Competitive Electricity Markets


  • Author : Hung-po Chao
  • Publisher : Springer Science & Business Media
  • Release Date : 2013-12-01
  • Genre: Business & Economics
  • Pages : 212
  • ISBN 10 : 9781461555476

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Designing Competitive Electricity Markets Book Description :

The authors are prominent economists, operation researchers, and engineers who have been instrumental in the development of the conceptual framework for electric power restructuring both in the United States and in other countries. Rather than espousing a particular market design for the industry's future, each author focuses on an important issue or set of issues and tries to frame the questions for designing electricity markets using an international perspective. The book focuses on the economic and technical questions important in understanding the industry's long-term development rather than providing immediate answers for the current political debates on industry competition.

Pricing in Competitive Electricity Markets Book

Pricing in Competitive Electricity Markets


  • Author : Ahmad Faruqui
  • Publisher : Springer Science & Business Media
  • Release Date : 2012-12-06
  • Genre: Business & Economics
  • Pages : 450
  • ISBN 10 : 9781461545293

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Pricing in Competitive Electricity Markets Book Description :

Electricity markets are being deregulated or face new regulatory frameworks. In such changing markets, new pricing strategies will need to consider such factors as cost, value of service and pricing by objective. Pricing in Competitive Electricity Markets introduces a new family of pricing concepts, methodologies, models, tools and databases focused on market-based pricing. This book reviews important theoretical pricing issues as well as practical pricing applications for changing electricity markets.

Competitive Electricity Markets and Sustainability Book

Competitive Electricity Markets and Sustainability


  • Author : François Lévêque
  • Publisher : Edward Elgar Publishing
  • Release Date : 2007-01-01
  • Genre: Business & Economics
  • Pages : 320
  • ISBN 10 : 9781847204356

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Competitive Electricity Markets and Sustainability Book Description :

This book responds to the opening up of electricity markets to competition, which has completely changed the nature of power generation. The building of new generation and transmission capacity and the setting of the energy mix between nuclear, gas and renewable resources are mainly left to private initiative and investors. The authors and the editor of this book explore whether or not market forces offer a sustainable future for electricity generation. They employ economic theory and method to answer questions such as: Will the market be able to ensure adequacy of generation capacity and secu.

Modelling Prices in Competitive Electricity Markets Book

Modelling Prices in Competitive Electricity Markets


  • Author : Derek W Bunn
  • Publisher : John Wiley & Sons Incorporated
  • Release Date : 2004-04-02
  • Genre: Business & Economics
  • Pages : 337
  • ISBN 10 : UCSC:32106015982231

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Modelling Prices in Competitive Electricity Markets Book Description :

Electricity markets are structurally different to other commodities, and the real-time dynamic balancing of the electricity network involves many external factors. Because of this, it is not a simple matter to transfer conventional models of financial time series analysis to wholesale electricity prices. The rationale for this compilation of chapters from international authors is, therefore, to provide econometric analysis of wholesale power markets around the world, to give greater understanding of their particular characteristics, and to assess the applicability of various methods of price modelling. Researchers and professionals in this sector will find the book an invaluable guide to the most important state-of-the-art modelling techniques which are converging to define the special approaches necessary for unravelling and forecasting the behaviour of electricity prices. It is a high-quality synthesis of the work of financial engineering, industrial economics and power systems analysis, as they relate to the behaviour of competitive electricity markets.

Competitive Electricity Markets  Prices and Generator Entry and Exit Book

Competitive Electricity Markets Prices and Generator Entry and Exit


  • Author : Robert G. Ethier
  • Publisher :
  • Release Date : 1999
  • Genre:
  • Pages : 266
  • ISBN 10 : CORNELL:31924085763435

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Competitive Electricity Markets Prices and Generator Entry and Exit Book Description :

The electric power industry in the United States is quickly being deregulated and restructured. In the past, new electric generation capacity was added by regulated utilities to meet forecasted demand levels and maintain reserve margins. With competitive wholesale generation, investment will be the responsibility of independent private investors. Electricity prices will assume the coordinating function which has until recently been the responsibility of regulatory agencies. Competitive prices will provide the entry and exit signals for generators in the future.

Electricity Market Reform Book
Score: 4
From 1 Ratings

Electricity Market Reform


  • Author : Fereidoon P. Sioshansi
  • Publisher : Elsevier
  • Release Date : 2006-04-13
  • Genre: Technology & Engineering
  • Pages : 688
  • ISBN 10 : 0080462715

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Electricity Market Reform Book Description :

Since the late 1980s, policy makers and regulators in a number of countries have liberalized, restructured or “deregulated their electric power sector, typically by introducing competition at the generation and retail level. These experiments have resulted in vastly different outcomes - some highly encouraging, others utterly disastrous. However, many countries continue along the same path for a variety of reasons. Electricity Market Reform examines the most important competitive electricity markets around the world and provides definitive answers as to why some markets have performed admirably, while others have utterly failed, often with dire financial and cost consequences. The lessons contained within are direct relevance to regulators, policy makers, the investment community, industry, academics and graduate students of electricity markets worldwide. Covers electicity market liberalization and deregulation on a worldwide scale Features expert contributions from key people within the electricity sector

Valuation  Hedging and Speculation in Competitive Electricity Markets Book

Valuation Hedging and Speculation in Competitive Electricity Markets


  • Author : Petter L. Skantze
  • Publisher : Springer Science & Business Media
  • Release Date : 2001-10-31
  • Genre: Business & Economics
  • Pages : 214
  • ISBN 10 : 0792375289

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Valuation Hedging and Speculation in Competitive Electricity Markets Book Description :

The challenges facing participants in competitive electricity markets are staggering: high price volatility introduces significant financial risk into an industry accustomed to guaranteed rates of return, while illiquid forward markets prevent effective hedging strategies from being implemented. Valuation, Hedging and Speculation in Competitive Electricity Markets: A Fundamental Approach, examines the unique properties which separate electricity from other traded commodities, including the lack of economical storage, and the impact of a scarce transmission network. The authors trace the sources of uncertainties in the price of electricity to underlying physical and economic processes, and incorporate these into a bid-based model for electricity spot and forward prices. They also illustrate how insufficient market data can be circumvented by using a combination of price and load data in the marking- to-market process. The model is applied to three classes of problems central to the operation of any electric utility or power marketer; valuing generation assets, formulating dynamic hedging strategies for load serving obligations, and pricing transmission contracts and locational spread options. Emphasis is placed on the difference between trades which can be 'booked out' in the forward markets, and those which must be carried through to delivery. Lately, significant attention has been given to the role of regulators in mitigating excessive price levels in electricity markets. The authors conduct a quantitative analysis of the long-term effects of regulatory intervention through the use of price caps. By modeling the dynamic interplay between the observed price levels and the decision to invest in new generation assets, it is shown how such short term fixes can lead to long term deficits in the available generation capacity, and ultimately to market failures and blackouts.

The Economics of Electricity Markets Book

The Economics of Electricity Markets


  • Author : Darryl R. Biggar
  • Publisher : John Wiley & Sons
  • Release Date : 2014-07-10
  • Genre: Science
  • Pages : 432
  • ISBN 10 : 9781118775721

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The Economics of Electricity Markets Book Description :

Bridges the knowledge gap between engineering and economics in a complex and evolving deregulated electricity industry, enabling readers to understand, operate, plan and design a modern power system With an accessible and progressive style written in straight-forward language, this book covers everything an engineer or economist needs to know to understand, operate within, plan and design an effective liberalized electricity industry, thus serving as both a useful teaching text and a valuable reference. The book focuses on principles and theory which are independent of any one market design. It outlines where the theory is not implemented in practice, perhaps due to other over-riding concerns. The book covers the basic modelling of electricity markets, including the impact of uncertainty (an integral part of generation investment decisions and transmission cost-benefit analysis). It draws out the parallels to the Nordpool market (an important point of reference for Europe). Written from the perspective of the policy-maker, the first part provides the introductory background knowledge required. This includes an understanding of basic economics concepts such as supply and demand, monopoly, market power and marginal cost. The second part of the book asks how a set of generation, load, and transmission resources should be efficiently operated, and the third part focuses on the generation investment decision. Part 4 addresses the question of the management of risk and Part 5 discusses the question of market power. Any power system must be operated at all times in a manner which can accommodate the next potential contingency. This demands responses by generators and loads on a very short timeframe. Part 6 of the book addresses the question of dispatch in the very short run, introducing the distinction between preventive and corrective actions and why preventive actions are sometimes required. The seventh part deals with pricing issues that arise under a regionally-priced

Evolution of Global Electricity Markets Book
Score: 5
From 1 Ratings

Evolution of Global Electricity Markets


  • Author : Fereidoon P. Sioshansi
  • Publisher : Academic Press
  • Release Date : 2013-06-10
  • Genre: Science
  • Pages : 880
  • ISBN 10 : 9780123979063

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Evolution of Global Electricity Markets Book Description :

Get the latest on rapidly evolving global electricity markets direct from the scholars and thought leaders who are shaping reform. In this volume, dozens of world-class experts from diverse regions provide a comprehensive assessment of the relevant issues in today’s electricity markets. Amid a seething backdrop of rising energy prices, concerns about environmental degradation, and the introduction of distributed sources and smart grids, increasingly stringent demands are being placed on the electric power sector to provide a more reliable, efficient delivery infrastructure, and more rational, cost-reflective prices. This book maps out the electric industry’s new paradigms, challenges and approaches, providing invaluable global perspective on this host of new and pressing issues being investigated by research institutions worldwide. Companies engaged in the power sector’s extensive value chain including utilities, generation, transmission & distribution companies, retailers, suppliers, regulators, market designers, and the investment & financial rating community will benefit from gaining a more nuanced understanding of the impacts of key market design and restructuring choices. How can problems be avoided? Why do some restructured markets appear to function better than others? Which technological implementations represent the best investments? Which regulatory mechanisms will best support these new technologies? What lessons can be learned from experiences in Norway, Australia, Texas, or the U.K.? These questions and many more are undertaken by the brightest minds in the industry in this one comprehensive, cutting-edge resource. Features a unique global perspective from more than 40 recognized experts and scholars around the world, offering opportunities to compare and contrast a wide range of market structures Analyzes how the implementation of existing and developing market designs impacts real-world issues such as pricing and reliability Explains the latest

Electricity Markets Book

Electricity Markets


  • Author : Chris Harris
  • Publisher : John Wiley & Sons
  • Release Date : 2011-01-31
  • Genre: Business & Economics
  • Pages : 542
  • ISBN 10 : 9781119995135

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Electricity Markets Book Description :

Understand the electricity market, its policies and how they drive prices, emissions, and security, with this comprehensive cross-disciplinary book. Author Chris Harris includes technical and quantitative arguments so you can confidently construct pricing models based on the various fluctuations that occur. Whether you?re a trader or an analyst, this book will enable you to make informed decisions about this volatile industry.

Economics of Electricity Book

Economics of Electricity


  • Author : Anna Cretì
  • Publisher : Cambridge University Press
  • Release Date : 2019-05-30
  • Genre: Business & Economics
  • Pages : 366
  • ISBN 10 : 9781107185654

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Economics of Electricity Book Description :

This comprehensive and up-to-date book explains the economic rationale behind the production, delivery and exchange of electricity. Cret and Fontini explain why electricity markets exist, outlining the economic principles behind the exchange and supply of power to consumers and firms. They identify the specificities of electricity, as compared to other goods, and furthermore suggest how markets should be optimally designed to produce and deliver electricity effectively and efficiently. The authors also address key issues, including how electricity can be decarbonized. Written in a technical yet accessible style, this book will appeal to readers studying power system economics and the economics of electricity, as well as those more generally interested in energy economics, including engineering and management students looking to gain an understanding of electricity market analysis.

Power System Operations and Electricity Markets Book

Power System Operations and Electricity Markets


  • Author : Fred I. Denny
  • Publisher : CRC Press
  • Release Date : 2017-12-19
  • Genre: Technology & Engineering
  • Pages : 152
  • ISBN 10 : 9781420058451

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Power System Operations and Electricity Markets Book Description :

The electric power industry in the U.S. has undergone dramatic changes in recent years. Tight regulations enacted in the 1970's and then de-regulation in the 90's have transformed it from a technology-driven industry into one driven by public policy requirements and the open-access market. Now, just as the utility companies must change to ensure their survival, engineers and other professionals in the industry must acquire new skills, adopt new attitudes, and accommodate other disciplines. Power System Operations and Electricity Markets provides the information engineers need to understand and meet the challenges of the new competitive environment. Integrating the business and technical aspects of the restructured power industry, it explains, clearly and succinctly, how new methods for power systems operations and energy marketing relate to public policy, regulation, economics, and engineering science. The authors examine the technologies and techniques currently in use and lay the groundwork for the coming era of unbundling, open access, power marketing, self-generation, and regional transmission operations. The rapid, massive changes in the electric power industry and in the economy have rendered most books on the subject obsolete. Based on the authors' years of front-line experience in the industry and in regulatory organizations, Power System Operations and Electricity Markets is current, insightful, and complete with Web links that will help readers stay up to date.

Restructured Electric Power Systems Book

Restructured Electric Power Systems


  • Author : Xiao-Ping Zhang
  • Publisher : John Wiley & Sons
  • Release Date : 2010-10-15
  • Genre: Technology & Engineering
  • Pages : 307
  • ISBN 10 : 1118017072

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Restructured Electric Power Systems Book Description :

The latest practical applications of electricity market equilibrium models in analyzing electricity markets Electricity market deregulation is driving the power energy production from a monopolistic structure into a competitive market environment. The development of electricity markets has necessitated the need to analyze market behavior and power. Restructured Electric Power Systems reviews the latest developments in electricity market equilibrium models and discusses the application of such models in the practical analysis and assessment of electricity markets. Drawing upon the extensive involvement in the research and industrial development of the leading experts in the subject area, the book starts by explaining the current developments of electrical power systems towards smart grids and then relates the operation and control technologies to the aspects in electricity markets. It explores: The problems of electricity market behavior and market power Mathematical programs with equilibrium constraints (MPEC) and equilibrium problems with equilibrium constraints (EPEC) Tools and techniques for solving the electricity market equilibrium problems Various electricity market equilibrium models State-of-the-art techniques for computing the electricity market equilibrium problems The application of electricity market equilibrium models in assessing the economic benefits of transmission expansions for market environments, forward and spot markets, short-term power system security, and analysis of reactive power impact Also featured are computational resources to allow readers to develop algorithms on their own, as well as future research directions in modeling and computational techniques in electricity market analysis. Restructured Electric Power Systems is an invaluable reference for electrical engineers and power system economists from power utilities and for professors, postgraduate students, and undergraduate students in electrical power engineering, as well as those

Electricity Markets Book

Electricity Markets


  • Author : Jeremy Lin
  • Publisher : John Wiley & Sons
  • Release Date : 2017-08-30
  • Genre: Science
  • Pages : 352
  • ISBN 10 : 9781119179375

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Electricity Markets Book Description :

A comprehensive resource that provides the basic concepts of electric power systems, microeconomics, and optimization techniques Electricity Markets: Theories and Applications offers students and practitioners a clear understanding of the fundamental concepts of the economic theories, particularly microeconomic theories, as well as information on some advanced optimization methods of electricity markets. The authors—noted experts in the field—cover the basic drivers for the transformation of the electricity industry in both the United States and around the world and discuss the fundamentals of power system operation, electricity market design and structures, and electricity market operations. The text also explores advanced topics of power system operations and electricity market design and structure including zonal versus nodal pricing, market performance and market power issues, transmission pricing, and the emerging problems electricity markets face in smart grid and micro-grid environments. The authors also examine system planning under the context of electricity market regime. They explain the new ways to solve problems with the tremendous amount of economic data related to power systems that is now available. This important resource: Introduces fundamental economic concepts necessary to understand the operations and functions of electricity markets Presents basic characteristics of power systems and physical laws governing operation Includes mathematical optimization methods related to electricity markets and their applications to practical market clearing issues Electricity Markets: Theories and Applications is an authoritative text that explores the basic concepts of the economic theories and key information on advanced optimization methods of electricity markets.

Mathematical Modelling of Contemporary Electricity Markets Book

Mathematical Modelling of Contemporary Electricity Markets


  • Author : Athanasios Dagoumas
  • Publisher : Academic Press
  • Release Date : 2020-12-01
  • Genre: Business & Economics
  • Pages : 256
  • ISBN 10 : 9780128218396

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Mathematical Modelling of Contemporary Electricity Markets Book Description :

Mathematical Modelling of Contemporary Electricity Markets reviews major methodologies and tools to accurately analyze and forecast contemporary electricity markets in all their diversity and complexity, for practitioner and academic audiences. These approaches include optimization, neural networks, genetic algorithms, co-optimization, econometrics, E3 models, and energy system models. The work examines how new challenges affect power market modelling, including discussion of stochastic renewables, price volatility, dynamic participation of demand, integration of storage and electric vehicles, interdependence with other commodity markets and the evolution of policy developments such as market coupling processes and security of supply. Coverage addresses all major forms of electricity markets: day-ahead, forward, intraday, balancing, and capacity. Provide a diverse body of established techniques suitable for modelling any major aspect of electricity markets Familiarizes energy experts with quantitative skills needed in competitive electricity markets Reviews market risk for energy investment decisions, by stressing the multi-dimensionality of electricity markets

Making Competition Work in Electricity Book

Making Competition Work in Electricity


  • Author : Sally Hunt
  • Publisher : John Wiley & Sons
  • Release Date : 2002-10-01
  • Genre: Business & Economics
  • Pages : 450
  • ISBN 10 : 0471266027

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Making Competition Work in Electricity Book Description :

An expert's perspective on how competition can make this industry work. There has never been a coherent plan to restructure the electricity industry in the USâ??until now. Power expert Sally Hunt gets down to the critical lessons learned from the California power crisis and other deregulated markets, in which competition has been introduced properly and successfully. Hunt presents sensible solutions to power market reform that have been cultivated over her twenty years of professional work in the industry. Sally Hunt (New York, NY) spent twenty years at National Economic Research Associates, where she was head of NERA's U.S. energy practice and a member of the board. Coauthor of Competition and Choice in Electricity with Graham Shuttleworth (0471957828), she has served as Corporate Economist at Con Edison, Deputy Director of the New York City Energy Office, and Assistant Administrator of the New York City Environmental Protection Administration. Over the years, financial professionals around the world have looked to the Wiley Finance series and its wide array of bestselling books for the knowledge, insights, and techniques that are essential to success in financial markets. As the pace of change in financial markets and instruments quickens, Wiley Finance continues to respond. With critically acclaimed books by leading thinkers on value investing, risk management,asset allocation, and many other critical subjects, the Wiley Finance series provides the financial community with information they want. Written to provide professionals and individuals with the most current thinking from the best minds in the industry, it is no wonder that the Wiley Finance series is the first and last stop for financial professionals looking to increase their financial expertise.