Download or read book Essays on the Economics of Electricity Markets written by and published by . This book was released on 2014 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays on Electricity Markets written by Linda Rud and published by . This book was released on 2009 with total page 287 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays on Electricity Markets written by and published by . This book was released on 2014 with total page 159 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays in Electricity Economics written by Brittany L. Tarufelli and published by . This book was released on 2019 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt: Goods markets are designed and regulated at a sub-global level. Although it’s typical to assume one set of market clearing rules across regulated and unregulated regions, trade occurs across a patchwork of sub-global market designs. Not accounting for this heterogeneity in market design can lead to unanticipated outcomes from sub-global regulations, as correcting for one market failure–such as a negative externality from carbon emissions–can lead to another market failure from the market design itself when trade occurs across differing market designs. The anatomy of this second-best problem is considered in the context of U.S. electricity markets, as market clearing mechanisms vary by region, and they imperfectly overlap with state-level climate policies such as carbon prices and renewables subsidies. In Chapter I, I present a review of the theoretical and empirical literature on electricity market design and its interaction with regional climate policies. In the wholesale electricity sector, market design drives both the extent of the forward contract market and the competitiveness of the spot market, which can induce strategic behavior and affect both market and regional climate policy outcomes. Assessing climate policy outcomes under only the assumption of a centralized market design, as is customary in the literature, belies the complexity of electricity market design, which varies regionally. As there is currently an agenda to link regional electricity markets, there is also a need to study how strategic behavior across differing market designs affects emissions when regional climate policies are imposed. In Chapter II, I develop a two-stage model of oligopolistic electricity production to determine if strategic behavior in forward contract and spot markets across differing electricity market designs increases or decreases emissions leakage from regional climate policies. I find that under uncertainty from demand and renewable resource shocks, centralized market designs generally reduce market power through arbitraging away price risk between forward and spot markets. However, under an asymmetric carbon cap and trade program, resulting emissions leakage is decreased by bilateral markets, which act as a structural backstop to emissions leakage. Emissions leakage increases when bilateral markets trade with, or are integrated with centralized markets, potentially reducing the efficacy of regional climate policies. In Chapter III, I study the interaction between sub-global climate policy and sub-global design of goods markets using an example of market expansion from wholesale electricity markets–the Western Energy Imbalance Market (EIM) in California. Using a difference-in-differences and triple-differences framework with matching to account for self-selection, I investigate how the EIM affects emissions leakage from California’s carbon cap and trade program. I find that the EIM caused a modest increase in emissions leakage into participating regions outside California, despite the relatively small trading volumes. The results have implications for ongoing efforts to expand competitive wholesale electricity markets across regions with differing climate policies. The results of this dissertation are informative for sub-global climate policy when trade in goods markets occurs across regions with different market clearing rules. Specifically, reduced transactions costs in trade between regulated and unregulated regions may tend to exacerbate emissions leakage. These results are informative in the context of continuing changes in wholesale electricity markets, including potential market expansions and continued integration of regional electricity markets across the U.S. and the European Union.

Download or read book Electricity Markets in the Context of the Energy Transition written by Ingmar Schlecht and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Three Essays in Energy Economics written by Dae-Wook Kim and published by . This book was released on 2004 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Economics of Power Markets written by Klaus Mayer and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Three Essays on the Economics of Competitive Electricity Market written by Williams Olayinka and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays on the economics of regulation written by Daniel Grote and published by . This book was released on 2009 with total page 556 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Economics of Electricity Markets written by Darryl R. Biggar and published by John Wiley & Sons. This book was released on 2014-07-10 with total page 493 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 market, such as the Australian NEM. This section introduces the notion of regions and interconnectors and how to formulate constraints for the correct pricing outcomes (the issue of "constraint orientation"). Part 8 addresses the fundamental and difficult issue of efficient transmission investment, and finally Part 9 covers issues that arise in the retail market. Bridges the gap between engineering and economics in electricity, covering both the economics and engineering knowledge needed to accurately understand, plan and develop the electricity market Comprehensive coverage of all the key topics in the economics of electricity markets Covers the latest research and policy issues as well as description of the fundamental concepts and principles that can be applied across all markets globally Numerous worked examples and end-of-chapter problems Companion website holding solutions to problems set out in the book, also the relevant simulation (GAMS) codes

Download or read book Essays on the Economics of Energy Transition written by Gaurav Doshi (Ph.D.) and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation studies the impact of energy policy on U.S. electricity markets and energy transition. The first chapter examines the impact of grid expansion on market power and emissions from fossil fuel firms in the short-run and the transition to wind energy in the long-run. For the empirical analysis, I use the rollout of a large-scale transmission expansion project in Texas that linked windy areas in the west to population centers in the east, costing $6.8 billion. Results show significant benefits due to declines in markups, emissions, and increases in wind investment. The payback periods range from 5 - 12 years and are much shorter than the previous estimates in the literature. In the second chapter, I study the effect of market structure on technology adoption in the U.S. solar and wind power industries. I compare adoption across two market types: restructured markets, which are designed to promote competition, and traditional markets, which are dominated by regulated monopolists. Solar projects in restructured markets are 24 percent less likely to adopt frontier technology, while the effect for wind projects is negative but statistically insignificant. I provide evidence that differences in financing costs across the two market types explain this negative relationship between competition and adoption. In the third chapter, I study the effect of transmission expansion on the cost of hedging risk in the wholesale electricity market. Market participants (generating firms, retailers, and financial traders) use forward contracts to hedge risk from price volatility in the market. I show that transmission integration in Texas significantly lowered the prices of these contracts, which translates to about $265 million worth of annual benefits in terms of lower cost of hedging risk. Further, I show evidence of greater market efficiency measured by the geographical convergence of prices across regions in Texas.

Download or read book Essays on Competition in Electricity Markets written by Ricardo Javier Bustos Salvagno and published by . This book was released on 2012 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: Chapter two examines the Chilean experience on auctions for long-term supply contracts in electricity markets from 2006 to 2011. Using a divisible-good auction model, I provide a theoretical framework that explains bidding behavior in terms of expected spot prices and contracting positions. The model is extended to include potential strategic behavior on contracting decisions. Empirical estimations confirm the main determinants of bidding behavior and show heterogeneity in the marginal cost of over-contracting depending on size and incumbency.

Download or read book Essays on the Economics of Energy Transition written by Gaurav Doshi (Ph.D.) and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation studies the impact of energy policy on U.S. electricity markets and energy transition. The first chapter examines the impact of grid expansion on market power and emissions from fossil fuel firms in the short-run and the transition to wind energy in the long-run. For the empirical analysis, I use the rollout of a large-scale transmission expansion project in Texas that linked windy areas in the west to population centers in the east, costing $6.8 billion. Results show significant benefits due to declines in markups, emissions, and increases in wind investment. The payback periods range from 5 - 12 years and are much shorter than the previous estimates in the literature. In the second chapter, I study the effect of market structure on technology adoption in the U.S. solar and wind power industries. I compare adoption across two market types: restructured markets, which are designed to promote competition, and traditional markets, which are dominated by regulated monopolists. Solar projects in restructured markets are 24 percent less likely to adopt frontier technology, while the effect for wind projects is negative but statistically insignificant. I provide evidence that differences in financing costs across the two market types explain this negative relationship between competition and adoption. In the third chapter, I study the effect of transmission expansion on the cost of hedging risk in the wholesale electricity market. Market participants (generating firms, retailers, and financial traders) use forward contracts to hedge risk from price volatility in the market. I show that transmission integration in Texas significantly lowered the prices of these contracts, which translates to about $265 million worth of annual benefits in terms of lower cost of hedging risk. Further, I show evidence of greater market efficiency measured by the geographical convergence of prices across regions in Texas.

Download or read book Market Integration and Regulation in European Wholesale Electricity Markets written by Veit Böckers and published by . This book was released on 2014 with total page 418 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Energy in a Competitive Market written by Colin Robinson and published by University of Pennsylvania Press. This book was released on 2003 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt: Covering a wide and fascinating selection of topics incorporating the whole spectrum of energy economics, this book examines the belief that markets are the key to the effective allocation of resources, a notion which arguably applies as much to energy as it does to any other commodity. In particular it focuses on several pertinent issues including: competition and regulation in gas and electricity; comparative efficiency analysis in electricity regulation; UK coal in competitive markets; vertical integration in the oil industry; cluster developments in the UK continental shelf; modelling underlying energy demand trends; and emissions targets, environmental Kuznets curves and incentive mechanisms.

Download or read book Essays on the Interaction Between Risk and Market Structure in Electricity Markets written by Gabriel Fiuza de Bragança and published by . This book was released on 2011 with total page 165 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Electricity Economics written by Ralph Turvey and published by Johns Hopkins University Press. This book was released on 1977 with total page 390 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although economists have discussed for many years the merits of relating prices to the marginal or incremental costs of supply in electrical utilities, the idea of marginal cost pricing has yet to gain the confidence of the engineers, accountants, financial analysts, and administrators who run and regulate the industry. Many do not understand marginal cost pricing, and most hold notions about the aims and equity of tariffs that differ markedly from those of economists. This book applies economic analysis to electricity pricing in a practical way. It offers a number of case studies that analyze the structure of marginal costs and translate them into possible tariffs. The authors accept the importance of revenue requirements and of equity in tariff making, but they also stress the importance of efficient allocation of resources. Tariffs can, as this book demonstrates, invariably be made more efficient than they are at present while still satisfying both revenue requirements and equity considerations. The authors include a survey of the appraisal of rural electrification projects. They also examine optimal techniques for planning entire systems and provide a number of theoretical studies on pricing and investment including a discussion on risk and indivisibilities.