Download or read book The Role of Demand Response in Mitigating Market Power written by Mel T. Devine and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Market power is a dominant feature of many modern electricity markets with an oligopolistic structure, resulting in increased consumer cost. This work investigates how consumers, through demand response (DR), can mitigate against market power. Within DR, our analysis particularly focusses on the impacts of load shifting and self-generation. A stochastic mixed complementarity problem is presented to model an electricity market characterised by oligopoly with a competitive fringe. It incorporates both energy and capacity markets, multiple generating firms and different consumer types. The model is applied to a case study based on data for the Irish power system in 2025. The results demonstrate how DR can help consumers mitigate against the negative effects of market power and that load shifting and self-generation are competing technologies, whose effectivity against market power is similar for most consumers. We also find that DR does not necessarily reduce emissions in the presence of market power.
Download or read book Demand Response Application in Smart Grids written by Sayyad Nojavan and published by Springer Nature. This book was released on 2020-02-18 with total page 287 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyzes the economic and technical effects of demand response programs in smart grids. A variety of operational and financial benefits are offered by demand response programs (DRPs) for load-serving entities, grid operators, and electricity consumers. The most notable advantages of DRPs are presented in this book, including decreased electricity prices, risk management, market power mitigation, and flexibility of market operations. In-depth chapters discuss the integration of demand response programs for the planning and operation of smart grids and explore the uncertainties of market prices, renewable resources and intermittent load management, making this a useful reference for a variety of different organizations and players in the electricity market, such as reliability organizations, distribution companies, transmission companies, and electric end-users.
Download or read book Market Power Mitigation in the Colombian Electricity Market Through On site Generation and Demand Response written by Julián Antonio Rojas Rojas 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 Demand Response Application in Smart Grids written by Sayyad Nojavan and published by Springer Nature. This book was released on 2019-12-05 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyzes issues surrounding the efficient integration of demand response programs (DRPs) on operation problems in smart grids. The benefits offered by demand response programs (DRPs) for load-serving entities, grid operators, and electricity consumers are explained, including decreased electricity prices and risk management. In-depth chapters discuss the flexibility of market operations, market power mitigation, and environmental benefits—making this a must-have reference for engineers and related practicing professionals working for organizations in the electricity market, including reliability organizations, distribution companies, transmission companies, and electric end-users.
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 Demand Response Application in Smart Grids written by Sayyad Nojavan and published by . This book was released on 2020 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyzes the economic and technical effects of demand response programs in smart grids. A variety of operational and financial benefits are offered by demand response programs (DRPs) for load-serving entities, grid operators, and electricity consumers. The most notable advantages of DRPs are presented in this book, including decreased electricity prices, risk management, market power mitigation, and flexibility of market operations. In-depth chapters discuss the integration of demand response programs for the planning and operation of smart grids and explore the uncertainties of market prices, renewable resources and intermittent load management, making this a useful reference for a variety of different organizations and players in the electricity market, such as reliability organizations, distribution companies, transmission companies, and electric end-users. Analyzes economic and technical elements of DRPs in smart grids Discusses the uncertainties of market prices, renewable resources and intermittent load Presents the most-up-to-date technological approaches to energy integration.
Download or read book Market Design Opportunities for an Evolving Power System written by Ian Michael Schneider and published by . This book was released on 2020 with total page 126 pages. Available in PDF, EPUB and Kindle. Book excerpt: The rapid growth of renewable energy is transforming the electric power sector. Wind and solar energy are non-dispatchable: their energy output is uncertain and variable from hour-to- hour. New challenges arise in electricity markets with a large share of uncertain and variable renewable energy. We investigate some of these challenges and identify economic opportunities and policy changes to mitigate them. We study electricity markets by focusing on the preferences and strategic behavior of three different groups: producers, consumers, and load-serving entities. First, we develop a game-theoretic model to investigate energy producer strategy in electricity markets with high levels of uncertain renewable energy. We show that increased geographic dispersion of renewable generators can reduce market power and increase social welfare. We also demonstrate that high-quality public forecasting of energy production can increase welfare. Second, we model and explain the effects of retail electricity competition on producer market power and forward contracting. We show that increased retail competition could decrease forward contracting and increase electricity prices; this is a downside to the general trend of increased access to retail electricity competition. Finally, we propose new methods for improving demand response programs. A demand response program operator commonly sets customer baseline thresholds to determine compensation for individual customers. The optimal way to do this remains an open question. We create a new model that casts the demand response program as a sequential decision problem; this formulation highlights the importance of learning about individual customers over time. We develop associated algorithms using tools from online learning, and we show that they outperform the current state of practice.
Download or read book Electricity markets consumers could benefit from demand programs but challenges remain report to the Chairman Committee on Governmental Affairs U S Senate written by and published by DIANE Publishing. This book was released on with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Power Grid Operation in a Market Environment written by Hong Chen and published by John Wiley & Sons. This book was released on 2016-11-14 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: Covers the latest practices, challenges and theoretical advancements in the domain of balancing economic efficiency and operation risk mitigation This book examines both system operation and market operation perspectives, focusing on the interaction between the two. It incorporates up-to-date field experiences, presents challenges, and summarizes the latest theoretic advancements to address those challenges. The book is divided into four parts. The first part deals with the fundamentals of integrated system and market operations, including market power mitigation, market efficiency evaluation, and the implications of operation practices in energy markets. The second part discusses developing technologies to strengthen the use of the grid in energy markets. System volatility and economic impact introduced by the intermittency of wind and solar generation are also addressed. The third part focuses on stochastic applications, exploring new approaches of handling uncertainty in Security Constrained Unit Commitment (SCUC) as well as the reserves needed for power system operation. The fourth part provides ongoing efforts of utilizing transmission facilities to improve market efficiency, via transmission topology control, transmission switching, transmission outage scheduling, and advanced transmission technologies. Besides the state-of-the-art review and discussion on the domain of balancing economic efficiency and operation risk mitigation, this book: Describes a new approach for mass market demand response management, and introduces new criteria to improve system performance with large scale variable generation additions Reviews mathematic models and solution methods of SCUC to help address challenges posed by increased operational uncertainties with high-penetration of renewable resources Presents a planning framework to account for the value of operational flexibility in transmission planning and to provide market mechanism for risk sharing Power Grid Operations in a Market Environment: Economic Efficiency and Risk Mitigation is a timely reference for power engineers and researchers, electricity market traders and analysts, and market designers.
Download or read book Mass Market Demand Response and Variable Generation Integration Issues written by and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This scoping study focuses on the policy issues inherent in the claims made by some Smart Grid proponents that the demand response potential of mass market customers which is enabled by widespread implementation of Advanced Metering Infrastructure (AMI) through the Smart Grid could be the "silver bullet" for mitigating variable generation integration issues. In terms of approach, we will: identify key issues associated with integrating large amounts of variable generation into the bulk power system; identify demand response opportunities made more readily available to mass market customers through widespread deployment of AMI systems and how they can affect the bulk power system; assess the extent to which these mass market Demand Response (DR) opportunities can mitigate Variable Generation (VG) integration issues in the near-term and what electricity market structures and regulatory practices could be changed to further expand the ability for DR to mitigate VG integration issues over the long term; and provide a qualitative comparison of DR and other approaches to mitigate VG integration issues.
Download or read book Evolution of Global Electricity Markets written by Fereidoon Sioshansi and published by Academic Press. This book was released on 2013-06-10 with total page 867 pages. Available in PDF, EPUB and Kindle. Book excerpt: Get the latest on rapidly evolving global electricity markets direct from the scholars andthought leaders who are shaping reform. In this volume, dozens of world-class expertsfrom diverse regions provide a comprehensive assessment of the relevant issues intoday’s electricity markets. Amid a seething backdrop of rising energy prices, concerns about environmentaldegradation, and the introduction of distributed sources and smart grids, increasinglystringent demands are being placed on the electric power sector to provide a morereliable, efficient delivery infrastructure, and more rational, cost-reflective prices. Thisbook maps out the electric industry’s new paradigms, challenges and approaches,providing invaluable global perspective on this host of new and pressing issues beinginvestigated by research institutions worldwide. Companies engaged in the powersector’s extensive value chain including utilities, generation, transmission & distributioncompanies, retailers, suppliers, regulators, market designers, and the investment &financial rating community will benefit from gaining a more nuanced understanding ofthe impacts of key market design and restructuring choices. How can problems beavoided? Why do some restructured markets appear to function better than others?Which technological implementations represent the best investments? Whichregulatory mechanisms will best support these new technologies? What lessons canbe learned from experiences in Norway, Australia, Texas, or the U.K.? Thesequestions and many more are undertaken by the brightest minds in the industry in thisone 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 thinking on timely issues such as current market reform proposals, restructuring, liberalization, privatization, capacity and energy markets, distributed and renewable energy integration, competitive generation and retail markets, and disaggregated vs. vertically integrated systems
Download or read book Water Electricity and the Poor written by Kristin Komives and published by World Bank Publications. This book was released on 2005 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book reviews the prevalence and variants of consumer subsidies found in the developing world and the effectiveness of these subsidies for the poor. It places consumer subsidies in a broader social protection framework and compares them with poverty-focused programmes in other sectors using a common metric. It concludes that the most common subsidy instruments perform poorly in comparison with most other transfer mechanisms. Alternative consumption and connection subsidy mechanisms show more promise, especially when combined with complementary non-price approaches to making utility services accessible and affordable to poor households. The many factors contributing to those outcomes are dissected, identifying those that can be controlled and used to improve performance.
Download or read book Federal Energy Regulatory Commission Reports written by United States. Federal Energy Regulatory Commission and published by . This book was released on 2006 with total page 3382 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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.
Download or read book Oversight of the Federal Energy Regulatory Commission written by United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Energy and Environment and published by . This book was released on 2012 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Electricity Markets written by United States. Government Accountability Office and published by . This book was released on 2004 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 2012-12-06 with total page 463 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.
