Download or read book New Methods for Energy Market Modelling written by Dominik Möst and published by KIT Scientific Publishing. This book was released on 2008 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Mathematical Modelling of Contemporary Electricity Markets written by Athanasios Dagoumas and published by Academic Press. This book was released on 2021-01-30 with total page 444 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mathematical Modelling of Contemporary Electricity Markets reviews major methodologies and tools to accurately analyze and forecast contemporary electricity markets in a ways that is ideal for practitioner and academic audiences. 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 modeling, including discussions 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 (market coupling processes, security of supply). Coverage addresses all major forms of electricity markets: day-ahead, forward, intraday, balancing, and capacity. - Provides a diverse body of established techniques suitable for modeling any major aspect of electricity markets - Familiarizes energy experts with the quantitative skills needed in competitive electricity markets - Reviews market risk for energy investment decisions by stressing the multi-dimensionality of electricity markets

Download or read book Complementarity Modeling in Energy Markets written by Steven A. Gabriel and published by Springer Science & Business Media. This book was released on 2012-07-20 with total page 637 pages. Available in PDF, EPUB and Kindle. Book excerpt: This addition to the ISOR series introduces complementarity models in a straightforward and approachable manner and uses them to carry out an in-depth analysis of energy markets, including formulation issues and solution techniques. In a nutshell, complementarity models generalize: a. optimization problems via their Karush-Kuhn-Tucker conditions b. on-cooperative games in which each player may be solving a separate but related optimization problem with potentially overall system constraints (e.g., market-clearing conditions) c. conomic and engineering problems that aren’t specifically derived from optimization problems (e.g., spatial price equilibria) d. roblems in which both primal and dual variables (prices) appear in the original formulation (e.g., The National Energy Modeling System (NEMS) or its precursor, PIES). As such, complementarity models are a very general and flexible modeling format. A natural question is why concentrate on energy markets for this complementarity approach? s it turns out, energy or other markets that have game theoretic aspects are best modeled by complementarity problems. The reason is that the traditional perfect competition approach no longer applies due to deregulation and restructuring of these markets and thus the corresponding optimization problems may no longer hold. Also, in some instances it is important in the original model formulation to involve both primal variables (e.g., production) as well as dual variables (e.g., market prices) for public and private sector energy planning. Traditional optimization problems can not directly handle this mixing of primal and dual variables but complementarity models can and this makes them all that more effective for decision-makers.

Download or read book Local Electricity Markets written by Tiago Pinto and published by Academic Press. This book was released on 2021-07-03 with total page 474 pages. Available in PDF, EPUB and Kindle. Book excerpt: Local Electricity Markets introduces the fundamental characteristics, needs, and constraints shaping the design and implementation of local electricity markets. It addresses current proposed local market models and lessons from their limited practical implementation. The work discusses relevant decision and informatics tools considered important in the implementation of local electricity markets. It also includes a review on management and trading platforms, including commercially available tools. Aspects of local electricity market infrastructure are identified and discussed, including physical and software infrastructure. It discusses the current regulatory frameworks available for local electricity market development internationally. The work concludes with a discussion of barriers and opportunities for local electricity markets in the future. - Delineates key components shaping the design and implementation of local electricity market structure - Provides a coherent view on the enabling infrastructures and technologies that underpin local market expansion - Explores the current regulatory environment for local electricity markets drawn from a global panel of contributors - Exposes future paths toward widespread implementation of local electricity markets using an empirical review of barriers and opportunities - Reviews relevant local electricity market case studies, pilots and demonstrators already deployed and under implementation

Download or read book Managing Energy Risk written by Markus Burger and published by John Wiley & Sons. This book was released on 2008-04-30 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mathematical techniques for trading and risk management. Managing Energy Risk closes the gap between modern techniques from financial mathematics and the practical implementation for trading and risk management. It takes a multi-commodity approach that covers the mutual influences of the markets for fuels, emission certificates, and power. It includes many practical examples and covers methods from financial mathematics as well as economics and energy-related models.

Download or read book Stochastic Modelling of Electricity and Related Markets written by Fred Espen Benth and published by World Scientific. This book was released on 2008 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: The markets for electricity, gas and temperature have distinctive features, which provide the focus for countless studies. For instance, electricity and gas prices may soar several magnitudes above their normal levels within a short time due to imbalances in supply and demand, yielding what is known as spikes in the spot prices. The markets are also largely influenced by seasons, since power demand for heating and cooling varies over the year. The incompleteness of the markets, due to nonstorability of electricity and temperature as well as limited storage capacity of gas, makes spot-forward hedging impossible. Moreover, futures contracts are typically settled over a time period rather than at a fixed date. All these aspects of the markets create new challenges when analyzing price dynamics of spot, futures and other derivatives.This book provides a concise and rigorous treatment on the stochastic modeling of energy markets. Ornstein?Uhlenbeck processes are described as the basic modeling tool for spot price dynamics, where innovations are driven by time-inhomogeneous jump processes. Temperature futures are studied based on a continuous higher-order autoregressive model for the temperature dynamics. The theory presented here pays special attention to the seasonality of volatility and the Samuelson effect. Empirical studies using data from electricity, temperature and gas markets are given to link theory to practice.

Download or read book Energy Storage in Energy Markets written by Behnam Mohammadi-Ivatloo and published by Academic Press. This book was released on 2021-04-30 with total page 452 pages. Available in PDF, EPUB and Kindle. Book excerpt: Energy Storage in Energy Markets reviews the modeling, design, analysis, optimization and impact of energy storage systems in energy markets in a way that is ideal for an audience of researchers and practitioners. The book provides deep insights on potential benefits and revenues, economic evaluation, investment challenges, risk analysis, technical requirements, and the impacts of energy storage integration. Heavily referenced and easily accessible to policymakers, developers, engineer, researchers and students alike, this comprehensive resource aims to fill the gap in the role of energy storage in pool/local energy/ancillary service markets and other multi-market commerce. Chapters elaborate on energy market fundamentals, operations, energy storage fundamentals, components, and the role and impact of storage systems on energy systems from different aspects, such as environmental, technical and economics, the role of storage devices in uncertainty handling in energy systems and their contributions in resiliency and reliability improvement. - Provides integrated techno-economic analysis of energy storage systems and the energy markets - Reviews impacts of electric vehicles as moving energy storage and loads on the electricity market - Analyzes the role and impact of energy storage systems in the energy, ancillary, reserve and regulatory multi-market business - Applies advanced methods to the economic integration of large-scale energy storage systems - Develops an evaluation framework for energy market storage systems

Download or read book Competitive Electricity Markets written by Fereidoon Sioshansi and published by Elsevier. This book was released on 2011-10-10 with total page 625 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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

Download or read book Energy and Power Risk Management written by Alexander Eydeland and published by John Wiley & Sons. This book was released on 2003-02-03 with total page 506 pages. Available in PDF, EPUB and Kindle. Book excerpt: Praise for Energy and Power Risk Management "Energy and Power Risk Management identifies and addresses the key issues in the development of the turbulent energy industry and the challenges it poses to market players. An insightful and far-reaching book written by two renowned professionals." -Helyette Geman, Professor of Finance University Paris Dauphine and ESSEC "The most up-to-date and comprehensive book on managing energy price risk in the natural gas and power markets. An absolute imperative for energy traders and energy risk management professionals." -Vincent Kaminski, Managing Director Citadel Investment Group LLC "Eydeland and Wolyniec's work does an excellent job of outlining the methods needed to measure and manage risk in the volatile energy market." -Gerald G. Fleming, Vice President, Head of East Power Trading, TXU Energy Trading "This book combines academic rigor with real-world practicality. It is a must-read for anyone in energy risk management or asset valuation." -Ron Erd, Senior Vice President American Electric Power

Download or read book Applied Operations Research and Financial Modelling in Energy written by André B. Dorsman and published by Springer Nature. This book was released on 2021-10-12 with total page 283 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book on Applied Operations Research and Financial Modelling in Energy (AORFME) presents several applications of operations research (OR) and financial modelling. The contributions by a group of OR and Finance researchers focus on a variety of energy decisions, presenting a quantitative perspective, and providing policy implications of the proposed or applied methodologies. The content is divided into three main parts: Applied OR I: Optimization Approaches, Applied OR II: Forecasting Approaches and Financial Modelling: Impacts of Energy Policies and Developments in Energy Markets. The book appeals to scholars in economics, finance and operations research, and to practitioners working in the energy sector. This is the eighth volume in a series of books on energy organized by the Centre for Energy and Value Issues (CEVI). For this volume, CEVI collaborated with Hacettepe University’s Energy Markets Research and Application Center. The previous volumes in the series are: Financial Aspects in Energy (2011), Energy Economics and Financial Markets (2012), Perspectives on Energy Risk (2014), Energy Technology and Valuation Issues (2015), Energy and Finance (2016), Energy Economy, Finance and Geostrategy (2018), and Financial Implications of Regulations in the Energy Industry (2020).

Download or read book Energy Policy Modeling in the 21st Century written by Hassan Qudrat-Ullah and published by Springer. This book was released on 2013-10-04 with total page 277 pages. Available in PDF, EPUB and Kindle. Book excerpt: The roles and applications of various modeling approaches, aimed at improving the usefulness of energy policy models in public decision making, are covered by this book. The development, validation, and applications of system dynamics and agent-based models in service of energy policy design and assessment in the 21st century is a key focus. A number of modeling approaches and models for energy policy, with a particular focus on low-carbon economic development of regions and states are covered. Chapters on system dynamics methodology, model-based theory, fuzzy system dynamics frame-work, and optimization modeling approach are presented, along with several chapters on future research opportunities for the energy policy modeling community. The use of model-based analysis and scenarios in energy policy design and assessment has seen phenomenal growth during the past several decades. In recent years, renewed concerns about climate change and energy security have posed unique modeling challenges. By utilizing the validation techniques and procedures which are effectively demonstrated in these contributions, researchers and practitioners in energy systems domain can increase the appeal and acceptance of their policy models.

Download or read book The Impact of Electric Cars on Oil Demand and Greenhouse Gas Emissions in Key Markets written by Gómez Vilchez, Jonatan J. and published by KIT Scientific Publishing. This book was released on 2019-06-25 with total page 350 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Rethinking Macroeconomics with Endogenous Market Structure written by Marco Mazzoli and published by Cambridge University Press. This book was released on 2019-12-19 with total page 251 pages. Available in PDF, EPUB and Kindle. Book excerpt: The birth and death of firms is one of the main features of the business cycle. Yet mainstream DGSE macroeconomic models mostly ignore this phenomenon, thereby excluding any potential impact of economic policy on the probability of the birth and death of firms. Those DGSE models that do allow for this phenomenon do so at the cost of drastic simplifications, which effectively rule out causal links between the strategic interaction of industrial firms and the macroeconomy. This innovative new book develops a bottom-up, agent-based framework that shows how strategic interactions at the level of oligopolistic firms, and even at the level of individuals, affect entire industrial sectors and the equilibrium of the macroeconomy. It will appeal to academic researchers and graduate students working in computational economics, agent-based modelling and econophysics, as well as mainstream economists interested in learning more about alternatives to DGSE models in macroeconomics.

Download or read book Decision Making Under Uncertainty in Electricity Markets written by Antonio J. Conejo and published by Springer Science & Business Media. This book was released on 2010-09-08 with total page 549 pages. Available in PDF, EPUB and Kindle. Book excerpt: Decision Making Under Uncertainty in Electricity Markets provides models and procedures to be used by electricity market agents to make informed decisions under uncertainty. These procedures rely on well established stochastic programming models, which make them efficient and robust. Particularly, these techniques allow electricity producers to derive offering strategies for the pool and contracting decisions in the futures market. Retailers use these techniques to derive selling prices to clients and energy procurement strategies through the pool, the futures market and bilateral contracting. Using the proposed models, consumers can derive the best energy procurement strategies using the available trading floors. The market operator can use the techniques proposed in this book to clear simultaneously energy and reserve markets promoting efficiency and equity. The techniques described in this book are of interest for professionals working on energy markets, and for graduate students in power engineering, applied mathematics, applied economics, and operations research.

Download or read book Uncertainties in energy markets and their consideration in energy storage evaluation written by Keles, Dogan and published by KIT Scientific Publishing. This book was released on 2014-05-22 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book successfully illustrates the modeling of electricity prices with the help of stochastic processes. The relatively new phenomenon of negative prices is also integrated into the models. The integration of feed-in from wind power plants in energy models is also very innovative. This approach helps to simulate electricity prices in order to take into account the "merit-order effect of renewable energy". Finally, the models are used for the techno-economic evaluation of energy storages.

Download or read book Optimisation Models and Methods in Energy Systems written by Carlos Henggeler Antunes and published by MDPI. This book was released on 2019-08-06 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a printed edition of the Special Issue Optimisation Models and Methods in Energy Systems that was published in Energies

Download or read book Integrating Renewables in Electricity Markets written by Juan M. Morales and published by Springer Science & Business Media. This book was released on 2013-12-03 with total page 434 pages. Available in PDF, EPUB and Kindle. Book excerpt: This addition to the ISOR series addresses the analytics of the operations of electric energy systems with increasing penetration of stochastic renewable production facilities, such as wind- and solar-based generation units. As stochastic renewable production units become ubiquitous throughout electric energy systems, an increasing level of flexible backup provided by non-stochastic units and other system agents is needed if supply security and quality are to be maintained. Within the context above, this book provides up-to-date analytical tools to address challenging operational problems such as: • The modeling and forecasting of stochastic renewable power production. • The characterization of the impact of renewable production on market outcomes. • The clearing of electricity markets with high penetration of stochastic renewable units. • The development of mechanisms to counteract the variability and unpredictability of stochastic renewable units so that supply security is not at risk. • The trading of the electric energy produced by stochastic renewable producers. • The association of a number of electricity production facilities, stochastic and others, to increase their competitive edge in the electricity market. • The development of procedures to enable demand response and to facilitate the integration of stochastic renewable units. This book is written in a modular and tutorial manner and includes many illustrative examples to facilitate its comprehension. It is intended for advanced undergraduate and graduate students in the fields of electric energy systems, applied mathematics and economics. Practitioners in the electric energy sector will benefit as well from the concepts and techniques explained in this book.