Download or read book Optimization Models and Techniques for Implementation and Pricing of Electricity Markets written by and published by . This book was released on 2001 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 Electricity Markets written by Sayyad Nojavan and published by Springer Nature. This book was released on 2020-03-10 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyzes new electricity pricing models that consider uncertainties in the power market due to the changing behavior of market players and the implementation of renewable distributed generation and responsive loads. In-depth chapters examine the different types of market players including the generation, transmission, and distribution companies, virtual power plants, demand response aggregators, and energy hubs and microgrids. Expert authors propose optimal operational models for short-term performance and scheduling and present readers with solutions for pricing challenges in uncertain environments. This book is useful for engineers, researchers and students involved in integrating demand response programs into smart grids and for electricity market operation and planning. Proposes optimal operation models; Discusses the various players in today's electricity markets; Describes the effects of demand response programs in smart grids.
Download or read book Optimizing the Economic Efficiency of Wholesale Electricity Markets written by and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation contributes design ideas and solution methodology to several policy and operational issues within the contemporary wholesale electricity markets in the United States. Mathematical programming, hierarchical optimization modeling and parallel computing techniques constitute its methodological basis. Chapter 2 interprets demand response as a trade of consuming rights among customers and provides a bi-level optimization model to simultaneously clear the energy and demand response markets. As an efficient implementation of FERC Order 745, a three-phase solution method involving joint use of nonlinear and mixed integer solvers as well as a bound-tightening technique is proposed for large-scale instances. Chapter 3 analyzes the efficiency and equity issues of the uniform-price payment rule in bulk power markets, and justifies based on linear programming duality a pay-as-bid rule in the context of unit commitment. The effectiveness of this payment rule is validated via a simulation of market participants' bidding behaviors in a realistic setting. Chapter 4 proposes a general bidding structure that clears obstacles for efficient demand-side participation. The structure promotes new bid types that allow deferrable, adjustable and storage-type loads to better express their value. These bid types are shown to be easily incorporated into the existing market and to preserve the efficiency and incentive-compatibility properties of the market. Chapter 5 provides a Derand sampling method to approximate load forecast errors in a stochastic unit commitment model. Using only a few high-quality scenarios, Derand outperforms its deterministic counterpart and other conventional scenario reduction techniques by a significant margin. Chapter 6 models a multi-stage security-constrained economic dispatch (SCED) problem. A series of algorithmic enhancements based on the Benders' decomposition and parallel computing are implemented to ameliorate the computational difficulty. The approach is able to process the N-1 contingency list in ten minutes for all large network cases available for experiments. Chapter 7 proposes a novel solution approach for the SCED problem in a nonlinear AC setting. The approach approximates the nonconvex AC feasibility problem with its semidefinite programming (SDP) relaxation and uses the SDP model as a convex subproblem within a Benders' decomposition framework. Numerical experiments demonstrate the superior solution quality of the approach.
Download or read book International Energy Journal written by and published by . This book was released on 2005 with total page 952 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Optimization Models in Electricity Markets written by Anthony Papavasiliou and published by Cambridge University Press. This book was released on 2024-05-31 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: Get up-to-speed with the fundamentals of how electricity markets are structured and operated with this comprehensive textbook, presenting coverage of key topics in electricity market design, including power system and power market operations, transmission, unit commitment, demand response, and risk management. It includes over 140 practical examples, inspired by real-industry applications, connecting key theoretical concepts to practical scenarios in electricity market design, and features over 100 coding-based examples and exercises, with selected solutions for readers. It further demonstrates how mathematical programming models are implemented in an industry setting. Requiring no experience in power systems or energy economics, this is the ideal introduction to electricity markets for senior undergraduate and graduate students in electrical engineering, economics, and operations research, and a robust introduction to the field for professionals in utilities, energy policy, and energy regulation. Accompanied online by datasets, AMPL code, supporting videos, and full solutions and lecture slides for instructors.
Download or read book MODELS OF EFFICIENT CONSUMER PRICING SCHEMES IN ELECTRICITY MARKETS electronic Resource written by Emre Celebi and published by University of Waterloo. This book was released on 2005 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Engineering Interrelated Electricity Markets written by Anke Weidlich and published by Springer Science & Business Media. This book was released on 2008-10-08 with total page 181 pages. Available in PDF, EPUB and Kindle. Book excerpt: Due to the characteristics of electricity, power markets rank among the most complex markets operated at present. The requirements of an environmentally sustainable, economically efficient, and secure energy supply have resulted in the emergence of several interrelated markets that have to be carefully engineered in order to ensure efficient market outcomes. This book presents an agent-based simulation model that facilitates electricity market research. Simulation outcomes from this model are validated against price data from German power markets. The results significantly contribute to existing research in agent-based simulation and electricity market modeling, and provide insights into the impact of the market structure and market design on electricity prices. The book addresses researchers, lecturers and students who are interested in applying agent-based simulation to power markets. It provides a thorough discussion of the methodology and helpful details for model implementation.
Download or read book Forecasting Models of Electricity Prices written by Javier Contreras and published by MDPI. This book was released on 2018-04-06 with total page 259 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a printed edition of the Special Issue "Forecasting Models of Electricity Prices" that was published in Energies
Download or read book Modeling and Forecasting Electricity Loads and Prices written by Rafal Weron and published by John Wiley & Sons. This book was released on 2007-01-30 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book offers an in-depth and up-to-date review of different statistical tools that can be used to analyze and forecast the dynamics of two crucial for every energy company processes—electricity prices and loads. It provides coverage of seasonal decomposition, mean reversion, heavy-tailed distributions, exponential smoothing, spike preprocessing, autoregressive time series including models with exogenous variables and heteroskedastic (GARCH) components, regime-switching models, interval forecasts, jump-diffusion models, derivatives pricing and the market price of risk. Modeling and Forecasting Electricity Loads and Prices is packaged with a CD containing both the data and detailed examples of implementation of different techniques in Matlab, with additional examples in SAS. A reader can retrace all the intermediate steps of a practical implementation of a model and test his understanding of the method and correctness of the computer code using the same input data. The book will be of particular interest to the quants employed by the utilities, independent power generators and marketers, energy trading desks of the hedge funds and financial institutions, and the executives attending courses designed to help them to brush up on their technical skills. The text will be also of use to graduate students in electrical engineering, econometrics and finance wanting to get a grip on advanced statistical tools applied in this hot area. In fact, there are sixteen Case Studies in the book making it a self-contained tutorial to electricity load and price modeling and forecasting.
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 Electricity Pricing written by Sawan Sen and published by CRC Press. This book was released on 2018-09-03 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: Electricity Pricing: Regulated, Deregulated and Smart Grid Systems presents proven methods for supplying uninterrupted, high-quality electrical power at a reasonable price to the consumer. Illustrating the evolution of the power market from a monopoly to an open access system, this essential text: Covers voltage stability analysis of longitudinal power supply systems using an artificial neural network (ANN) Explains how to improve performance using flexible alternating current transmission systems (FACTS) and high-voltage direct current (HVDC) Takes into account operating constraints as well as generation cost, line overload, and congestion for expected and inadvertent loading stress Goes beyond FACTS and HVDC to provide multi-objective optimization algorithms for the deregulated power market Proposes the use of stochastic optimization techniques in the smart grid, preparing the reader for future development Electricity Pricing: Regulated, Deregulated and Smart Grid Systems offers practical solutions for improving stability, reliability, and efficiency in real-time systems while optimizing electricity cost.
Download or read book Pricing in Competitive Electricity Markets written by Ahmad Faruqui and published by Springer Science & Business Media. This book was released on 2000-05-31 with total page 502 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Optimization Models and Methods for Equilibrium Traffic Assignment written by Alexander Krylatov and published by Springer Nature. This book was released on 2019-11-26 with total page 231 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is focused on the discussion of the traffic assignment problem, the mathematical and practical meaning of variables, functions and basic principles. This work gives information about new approaches, methods and algorithms based on original methodological technique, developed by authors in their publications for the past several years, as well as corresponding prospective implementations. The book may be of interest to a wide range of readers, such as civil engineering students, traffic engineers, developers of traffic assignment algorithms etc. The obtained results here are to be used in both practice and theory. This book is devoted to the traffic assignment problem, formulated in a form of nonlinear optimization program. The most efficient solution algorithms related to the problem are based on its structural features and practical meaning rather than on standard nonlinear optimization techniques or approaches. The authors have carefully considered the meaning of the traffic assignment problem for efficient algorithms development.
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 American Doctoral Dissertations written by and published by . This book was released on 2000 with total page 816 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Co optimization of Energy and Interruptible Load Reserve for a Strategic Major Consumer of Electricity written by Mahbubeh Habibian and published by . This book was released on 2018 with total page 420 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis examines industrial demand-side management over a co-optimized energy and reserve market from the perspective of a strategic consumer with flexibility in demand and ability to offer interruptible load. Industrial demand response is the participation of large consumers in electricity markets, through active management of their consumption in response to prices. Demand response not only enables large consumers of electricity to reduce their energy costs, but it also improves the reliability of the system, facilitates increased capacity of distributed energy resources within the market, and may enable deferrals in generation and transmission investments. Another important aspect of industrial demand response is its contribution to maintaining grid stability through offering ancillary services. For instance, major consumers with demand flexibility may offer interruptible load reserve, which enables them to earn revenue through their ability to shed load thus protecting the system against potential outages.What differentiates industrial demand-side participation from other forms of demand response is that a large manufacturer's decision on its consumption level can affect the energy and reserve prices. Therefore, we model price-making major consumers who anticipate the impacts of their actions on the market. Through a bi-level optimization model, we study the strategic behavior of large consumers in both energy and reserve markets under uncertainty. This optimization problem maximizes the expected utility of the major consumer, yielding admissible energy bid stacks and reserve offer stacks for each trading period. In order to apply this to real-world problems, our model is reformulated to a mixed-integer program, for which we offer tailor-made solution methods. In addition to presenting utility-driven co-optimization of energy and reserve, we propose stochastic cost-minimizing demand scheduling models, where finding the optimal load level for each trading period depends on the consumption in other time periods. We present a unique and novel stochastic multistage optimization method to compute optimal strategies using Lagrangian decomposition methods. This model is developed for major manufacturers who are required to achieve a total production level over a short- or long-term time horizon and can shift consumption of electricity by utilizing flexibility in their production schedules. Finally, we demonstrate implementation of our single- and multi-stage models for a large industrial consumer of energy in New Zealand. Through utilizing our proposed solution methodologies, we simulate our policies with historical data and compare the results with the cost of policies that are used in practice.
