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Markets for reliability and financial options in electricity: theory to support the practice
2003
36th Annual Hawaii International Conference on System Sciences, 2003. Proceedings of the
The underlying structure of why and how consumers value reliability of electric service is explored, together with the technological options and cost characteristics for the provision of reliability and ...
This procedure which satisfies physical realities has a natural parallel in financial markets that have a forward option market with a strike price, followed by real time market clearing. 2 ...
Abstract The underlying structure of why and how consumers value reliability of electric service is explored, together with the technological options and cost characteristics for the provision of reliability ...
doi:10.1109/hicss.2003.1173858
fatcat:7jbyljwesvgv5dapp2waftlnqe
Electricity market design
2017
Oxford review of economic policy
Electricity markets are designed to provide reliable electricity at least cost to consumers. ...
This spot market provides the basis for forward contracting, which enables participants to manage risk and improves bidding incentives in the spot market. ...
The market has succeeded for 20 years, encouraging both wholesale and retail competition in a reliable electricity market. ...
doi:10.1093/oxrep/grx041
fatcat:nsdilobicjbf3atwxll74gzvii
Competitive Electricity Markets
[chapter]
1994
From Regulation to Competition: New frontiers in electricity markets
market-driven electricity system was impossible and there was little theory to light the way. ...
The message is that the future of competitive electricity systems lies in developing more rather than less sophisticated spot pricing systems and using the resulting prices to support efficient financial ...
As discussed above, if both buyer and seller have access to the same physical spot market relatively simple financial contracts can take the place of more complex physical contracts. ...
doi:10.1007/978-94-011-1368-7_2
fatcat:jok3ggjtxfcdraihpkkvq7iu7i
Demand response in electricity markets: A review
2012
2012 9th International Conference on the European Energy Market
According to different reasons for triggering DR, DR programs in electricity markets are classified into two categories: price-based DR and incentive-based DR. ...
With price signals and incentive mechanisms, DR is crucial to both power system reliability and market efficiency. ...
Financial instruments can be used to design I/C contracts, e.g., the I/C contracts in which electricity suppliers buy into call option while customers sell out call option [64] , the I/C contracts in ...
doi:10.1109/eem.2012.6254817
fatcat:il4t5ookt5dzxanvnxhxef7k24
A Standard Market Design for Regional Transmission Organizations
2001
Electricity Journal
It is time for the Federal Energy Regulatory Commission (FERC) to define the principles for a standard electricity market design and to begin consistently applying those principles to the market rules ...
electricity system and a reliable supply of electricity. ...
The Task of Market Design The policy justification for creating competitive electricity markets is to harness the incentives and dynamics of competition in support of efficient outcomes that enhance the ...
doi:10.1016/s1040-6190(01)00253-6
fatcat:oqkkkylnl5bc7gjhwel256ne2e
Interface Between Engineering and Market Operations in Restructured Electricity Systems
2005
Proceedings of the IEEE
We examine the impact of wholesale markets on operations of the bulk power system and elaborate some basic implications of engineering practices for designs of wholesale markets. ...
We outline ways that engineering practices developed in the era of vertically integrated utilities might be adapted to the wholesale markets introduced since restructuring began in 1998 in the United States ...
for arbitrage and covered financially only by the opportunity to close out the position in the real-time market. ...
doi:10.1109/jproc.2005.857491
fatcat:rkxf45v7vrflzj2mmqzhqjet7q
Electricity generation
[chapter]
2009
OECD Factbook
In theory, competitive electricity markets can provide incentives for efficient investment in generating capacity. ...
Alternative capacity mechanisms to stimulate investment are discussed. ...
We are gratefull for financial support from ESRC/EPSRC under award number RG37889. ...
doi:10.1787/factbook-2009-39-en
fatcat:6vuiqntfh5hmdcqdivgjqzsnde
Electricity generation
[chapter]
2016
OECD Factbook 2015-2016
In theory, competitive electricity markets can provide incentives for efficient investment in generating capacity. ...
Alternative capacity mechanisms to stimulate investment are discussed. ...
We are gratefull for financial support from ESRC/EPSRC under award number RG37889. ...
doi:10.1787/factbook-2015-41-en
fatcat:rusbl3lksjafrd7y5nyewlgq2e
Electricity generation
[chapter]
2011
OECD Factbook 2011-2012
In theory, competitive electricity markets can provide incentives for efficient investment in generating capacity. ...
Alternative capacity mechanisms to stimulate investment are discussed. ...
We are gratefull for financial support from ESRC/EPSRC under award number RG37889. ...
doi:10.1787/factbook-2011-49-en
fatcat:5vfpi3ac6ffcfbjf435zgrfwiy
Electricity Generation
[chapter]
2010
OECD Factbook
In theory, competitive electricity markets can provide incentives for efficient investment in generating capacity. ...
Alternative capacity mechanisms to stimulate investment are discussed. ...
We are gratefull for financial support from ESRC/EPSRC under award number RG37889. ...
doi:10.1787/factbook-2010-39-en
fatcat:v25yeox2wnco7hpk7l7ywimpem
Electricity generation
1996
Applied Energy
In theory, competitive electricity markets can provide incentives for efficient investment in generating capacity. ...
Alternative capacity mechanisms to stimulate investment are discussed. ...
We are gratefull for financial support from ESRC/EPSRC under award number RG37889. ...
doi:10.1016/s0306-2619(96)90038-0
fatcat:epkceyf45jghffk4hlkv2plxf4
Electricity generation
[chapter]
2014
OECD Factbook
In theory, competitive electricity markets can provide incentives for efficient investment in generating capacity. ...
Alternative capacity mechanisms to stimulate investment are discussed. ...
We are gratefull for financial support from ESRC/EPSRC under award number RG37889. ...
doi:10.1787/factbook-2014-44-en
fatcat:qqfxdmcno5gixmrmnpojunonom
Electricity generation
[chapter]
2013
OECD Factbook 2013
In theory, competitive electricity markets can provide incentives for efficient investment in generating capacity. ...
Alternative capacity mechanisms to stimulate investment are discussed. ...
We are gratefull for financial support from ESRC/EPSRC under award number RG37889. ...
doi:10.1787/factbook-2013-43-en
fatcat:2xdhim3lm5gbzi2x5aqcz4x7gm
Different Approaches to Supply Adequacy in Electricity Markets
2006
Energy Studies Review
Reform processes worldwide have shown that it is difficult for the market alone to provide incentives to attract enough investment in capacity reserves due to technical and institutional features. ...
The analytical and practical strengths and weaknesses of each approach are discussed. ...
both in theory and practice. ...
doi:10.15173/esr.v14i2.500
fatcat:xan447ob5vevjjvd643k6minvq
Alternative Pathway to Electricity Market Reform: A Risk-Management Approach
2006
Proceedings of the 39th Annual Hawaii International Conference on System Sciences (HICSS'06)
An evolutionary "Third Way" approach for restructuring the electricity industry is proposed, striking a balance between the extremes of vertical integration and direct liberalization of wholesale and retail ...
Practical aspects of implementing this role within liberalized wholesale markets are also examined. ...
To support a Third Way approach to the restructuring of the electricity industry will require the support of new research agenda that integrates the perspectives of market design and risk management. ...
doi:10.1109/hicss.2006.42
dblp:conf/hicss/ChaoOW06
fatcat:ax2rak772ndhdet2batymoogj4
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