Download or read book Strategic Behaviour in Energy Markets written by Daniel Huppmann and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays on Market Design and Strategic Behaviour in Energy Markets written by Stefan Lorenczik 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 Competition and Strategic Behavior in Energy Markets written by Remco van Eijkel and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Global Energy Markets written by The Emirates Center for Strategic Studies and Research and published by Emirates Center for Strategic Studies and Research. This book was released on 2012-07-12 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: The impact of the changing global strategic landscape on energy markets is being felt across the world, and is the subject of ongoing debate within industry and governments alike. These changes not only affect the evolution of oil markets and their influence on production rates and pricing, but also a host of other factors, including energy security, the effects of global economic crises, and the growing market presence of Arabian Gulf producers, both in terms of their conventional reserves and their development of alternative and renewable sources. The ECSSR 17th Annual Energy Conference, Global Energy Markets: Changes in the Strategic Landscape, held at the Center on November 1–2, 2011, and the papers compiled in this volume as a result, provide a variety of informed views on these trends and their consequences for both producers and consumers in the Middle East and elsewhere. The effects of geostrategic developments on energy markets and the formulation of energy policies in the GCC states and abroad are explored in detail, as are the economic viability and outlook of renewable energy sources, both in light of CO2 emissions constraints and the involvement of Gulf hydrocarbon producers in the development of renewables. The potential benefits and risks of nuclear energy production are explored, as is public sentiment toward nuclear development worldwide—particularly following recent events in Japan, the repercussions of which continue to be felt both in politics and industry. The ongoing effects of the global economic crisis are also discussed, particularly with reference to their consequences for energy markets worldwide.

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 Strategic behaviour resource valuation and competition in electricity markets written by Miguel A. Espinosa and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Strategic Behaviour in Network Industries written by E. F. ten Heuvelhof and published by Edward Elgar Publishing. This book was released on 2009-01-01 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book convincingly argues that from a theoretical point of view present day network industries offer opportunities for strategic behaviour and that these opportunities are also actually utilized in practice. The authors show that this behaviour can be harmful to the realization of the expected positive effects of institutional changes such as liberalization and privatization (e.g., innovation and lower prices). The authors make their case in a solid theoretical way illustrated with insightful case studies. This book is a must for academics, managers and policy makers in today s network industries. John Groenewegen, Delft University of Technology, The Netherlands This in-depth book explains how institutional changes such as the privatization and liberalization of network industries, for example transport, energy or telecommunications, can frequently be disappointing. The expected benefits such as lower prices, innovation and better services fail to materialize, often because the number of competitors is low. The authors demonstrate how strategic actor behaviour of one or more of the firms involved can help explain these disappointing results. This book elucidates the concept of strategic behaviour and portrays it in real-life examples to aid our understanding of this important phenomenon in terms of policy and organizational decision-making. It clearly demonstrates the adverse effects strategic behaviour can exert on the quality of infrastructure provision after liberalization. The theoretical sections are backed by empirical examples from throughout the world. The unique multidisciplinary approach will ensure a broad readership among students, researchers and policy-makers with an interest in the economics, politics and management of infrastructure and network industries.

Download or read book Strategic behaviour in the national electricity market written by and published by . This book was released on 1997 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Strategic Behaviour in a Capacity Market written by Juha Teirila and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Valuation Hedging and Speculation in Competitive Electricity Markets written by Petter L. Skantze and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: The challenges currently facing particIpants m competitive electricity markets are unique and staggering: unprecedented price volatility, a crippling lack of historical market data on which to test new modeling approaches, and a continuously changing regulatory structure. Meeting these challenges will require the knowledge and experience of both the engineering and finance communities. Yet the two communities continue to largely ignore each other. The finance community believes that engineering models are too detailed and complex to be practically applicable in the fast changing market environment. Engineers counter that the finance models are merely statistical regressions, lacking the necessary structure to capture the true dynamic properties of complex power systems. While both views have merit, neither group has by themselves been able to produce effective tools for meeting industry challenges. The goal of this book is to convey the fundamental differences between electricity and other traded commodities, and the impact these differences have on valuation, hedging and operational decisions made by market participants. The optimization problems associated with these decisions are formulated in the context of the market realities of today's power industry, including a lack of liquidity on forward and options markets, limited availability of historical data, and constantly changing regulatory structures.

Download or read book Energy Foresight and Strategy written by Thomas J. Sargent and published by Routledge. This book was released on 2016-03-17 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt: The essays in Energy, Foresight and Strategy apply rational expectation theory to various energy markets with the intention of discussing issues relevant to analysis and decision making in the whole of the energy field. Originally published in 1985, issues explored include oil exportation, energy prices and embargoes, both focussing on how past regulation has created issues in the market at the time of publication as well as creating models to ascertain the futures of various energy resources. This title will be of interest to students of Environmental Studies and Economics.

Download or read book Analyzing Strategic Behaviors in Electricity Markets Via Transmission constrained Residual Demand written by Lin Xu (Ph. D.) and published by . This book was released on 2009 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation studies how to characterize strategic behaviors in electricity markets from a transmission-constrained residual demand perspective. This dissertation generalizes the residual demand concept, widely used by economists in general markets, to electricity markets, which are constrained by transmission networks. The transmission-constrained residual demand is characterized by a sensitivity analysis of the optimal power flow program, which is the electricity market clearing engine. Methods are proposed to optimize a generator or generation firm's profit utilizing the residual demand sensitivity information, which has several advantages over existing methods. The transmission-constrained residual demand concept and the methods are helpful for market participants to develop bidding strategies and for market monitors to analyze market power in electricity markets.

Download or read book Regulation of Energy Markets written by Machiel Mulder and published by Springer Nature. This book was released on 2023-01-01 with total page 407 pages. Available in PDF, EPUB and Kindle. Book excerpt: This textbook explains the main economic mechanisms behind energy markets and assesses how governments can implement policies to improve these markets’ performance. Adopting a microeconomic perspective, it systematically analyses the various types of market failures on the electricity and gas markets as well as coal, oil, hydrogen and heat markets in order to identify government policies that can improve welfare. Critical factors in this regard include the natural monopoly and the public-goods character of energy infrastructures; market power structures resulting from inflexibility of supply and demand; international trade restrictions; negative externalities concerning the use of fossil energy; positive externalities concerning innovative new energy technologies; information asymmetries with regard to the product characteristics of energy commodities; and other public concerns, such as energy poverty. In turn, readers will learn about various measures that governments can use to address these market failures, including incentive regulations for electricity grids; international integration of wholesale energy markets; environmental regulatory measures like emissions trading schemes; subsidy schemes for new technologies; green-energy certificate schemes; and energy taxes. This second, updated and expanded edition addresses recent developments in international energy markets that have resulted in extremely high prices and concerns about the markets’ ability to provide a secure energy supply. Further, it examines several countries’ intensified measures to implement the transition to a low-carbon energy system. Given its scope, the book will appeal to upper-undergraduate and graduate students from various disciplines who want to learn more about the economics and regulation of energy systems and markets. “Given Mulder’s experience in government and academia, he provides a novel contribution to the literature by systematically analyzing different types of market failures and potential remedies offered by economic theory. Overall, Mulder’s textbook should be a valuable reference for students and energy policy analysts.” (J. Wesley Burnett, The Energy Journal, Vol. 43, Number 3)

Download or read book Network and Temporal Effects on Strategic Bidding in Electricity Markets written by Youfei Liu and published by Open Dissertation Press. This book was released on 2017-01-27 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation, "Network and Temporal Effects on Strategic Bidding in Electricity Markets" by Youfei, Liu, 劉有飛, was obtained from The University of Hong Kong (Pokfulam, Hong Kong) and is being sold pursuant to Creative Commons: Attribution 3.0 Hong Kong License. The content of this dissertation has not been altered in any way. We have altered the formatting in order to facilitate the ease of printing and reading of the dissertation. All rights not granted by the above license are retained by the author. Abstract: of thesis entitled "Network And Temporal Effects On Strategic Bidding In Electricity Markets" Submitted by Youfei Liu for the Degree of Doctor of Philosophy at the University of Hong Kong in February 2006 The global deregulation of power industries has given rise to many fascinating research topics. This thesis addresses issues of strategic bidding by power generators. The problem of strategic bidding is to optimize an individual power generation bid by maximizing profits, based on production cost, expectation of rival behavior and system demand. Electrical power flow over different links is governed by the physical law (Kirchhoff law). As a result, electrical power flow cannot be independently determined and the electricity transmission system has global network effects. One major contribution of this study is to investigate the network effects of electricity transmission on strategic bidding and analyze the network-constrained electricity market equilibria. A three-node electricity system is used for investigation. The decision space of generators is divided into the congestion-on region and congestion-off region, and the optimal response curves of generators in each region are then derived. The market equilibrium is located as the intersection of these optimal response curves. It is analytically shown that this may consist either of a unique unconstrained market equilibrium, a unique constrained market equilibrium, multiple-equilibria, or no pure Nash equilibrium. Subsequently, the interaction between transmission rights holding and market power exercising is addressed. It is shown that in the situation with a positive PTDF, holding transmission rights mitigate market power, and produce an improvement in market efficiency, while in other situations, the reverse is true. Furthermore it is demonstrated that a possible allocation of transmission rights to generators can be found to achieve maximum efficiency. Another unique characteristic of electricity markets is their notable temporal ii effects. In other words, electricity prices have significant volatilities because of the non-storability of power energy and the large variations of system demand. The second part of this study investigates the temporal effects of the electricity market on strategic bidding. A periodic dynamic feedback system is proposed to model the generation competition process. With the developed system dynamics, an optimal control problem is formulated to study the multi-period optimization behavior (called the 'advanced' strategy) of a generator, and the state-feedback control rule is then derived via a sweeping method. It is demonstrated that the generator with optimal control can obtain more profits, and a sensitivity analysis is provided to locate the market factors that affect the performance of optimal control. Next, system uncertainties are included, and a stochastic optimal control problem for generation decision is formulated and solved. Two interesting problems are investigated, namely the effect of the generator's 'advanced' strategic behavior on market efficiency, and the way in which an individual's payoff evolves with other generators' 'advanced' strategic behavior. It is shown that the 'advanced' strategic behavior of generators will improve market efficiency, while an individual's payoff evolution resembles a 'Prisoner Dilemma'. An analysis of risk management of generation decisi...

Download or read book Modern Energy Markets written by Maria Kopsakangas-Savolainen and published by Springer Science & Business Media. This book was released on 2012-04-02 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: Energy has moved to the forefront in terms of societal and economic development. Modern Energy Markets is a comprehensive, economically oriented, exploration of modern electricity networks from production and distribution to deregulation and liberalization processes. Updating previous work by the authors, different aspects are considered resulting in a complete and detailed picture of the systems and characteristics of modern electricity markets. Modern Energy Markets provides clear detail whilst encompassing a broad scope of topics and includes: •A method to model energy production systems including the main characteristics of future demand side management, •Different applications of this model in nuclear and renewable energy scenarios, •An analysis of Real-Time Pricing of electricity and its potential effects across the market, and, •A discussion of the need for regulation in an easily monopolized industry. Engineering and Economics students alike will find that Modern Energy Markets is a succinct and informative resource, as will researchers interested in environmental and energy issues. The inclusion of timely and relevant issues related to economic decision will also be of value to industry and civil officials.

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 Energy Markets written by Tom James and published by John Wiley & Sons. This book was released on 2012-11-27 with total page 374 pages. Available in PDF, EPUB and Kindle. Book excerpt: Price Risk Management and Trading. Energy risk management expert, Tom James, does it again. His latest book is a timely addition to the rapidly developing energy trading markets. This book should be on every energy trader, risk manager and corporate planer's desk. it is an easy read as Tom goes into great detail to explain the intricacies of this market and its various unique elements. - Peter C. Fusaro, Chairman, Global Change Associates Inc., Best-selling Author and Energy Expert This sensible and practical guide is essential for those seeking an understanding of commerce in energy derivatives. beyond merely informative, this hand book for the practitioner details the finer points of the use of derivatives as tools for price-risk management. No energy trading desk should be without it. - Ethan L. Cohen, Senior Director, Utility and Energy Technology, UtiliPoint International Inc. Energy markets are much more volatile than other commodity markets, so risk mitigation is more of a concern. Energy prices, for example, can be affected by weather, geopo9litical turmoil, changes in tax and legal systems, OPEC decisions, analysis' reports, transportation issues, and supply and demand - to name just a few factors. Tom James's book is a practical guide to assessing and managing these risks. It is a must-read for senior management as well as risk and financial professionals.- Don Stowers, Editor, Oil & Gas Financial Journal This book is the most comprehensive on price risk management-centric efforts. It provides the reader with a tangible experience of derivatives in today's capital and energy markets. The breadth and scope of the passages are immense, in that both developed and developing countries' energy markets are considered and examples applied. Terrific read! - Rashpal Bhatti, Marketing Manager, Energy Trading Asia, Enron/BHP Billiton Tom James has simplified the intricacies of a very complex market. In this new market of "hot" commodities, he has been able to give a fresh course to those who are new to the energy markets and a solid review for those that are well seasoned. he covers everything within the oil market from A to Z in this book and does it well. Coming from a financial background myself, it's good to finally find a book that can bring a better understanding to the field of energy commodities. - Carl Larry, Vice President Citi Energy Global Commodities