Competitive Electricity Markets

Competitive Electricity Markets
Author: Fereidoon P. Sioshansi
Publsiher: Elsevier Science Limited
Total Pages: 582
Release: 2008
ISBN 10: 9780080471723
ISBN 13: 0080471722
Language: EN, FR, DE, ES & NL

Competitive Electricity Markets Book Review:

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." This volume 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

Competitive Electricity Markets

Competitive Electricity Markets
Author: Fereidoon P. Sioshansi
Publsiher: Elsevier
Total Pages: 624
Release: 2011-10-10
ISBN 10: 9780080557717
ISBN 13: 0080557716
Language: EN, FR, DE, ES & NL

Competitive Electricity Markets Book Review:

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

Designing Competitive Electricity Markets

Designing Competitive Electricity Markets
Author: Hung-po Chao,Hillard G. Huntington
Publsiher: Springer Science & Business Media
Total Pages: 212
Release: 2013-12-01
ISBN 10: 1461555477
ISBN 13: 9781461555476
Language: EN, FR, DE, ES & NL

Designing Competitive Electricity Markets Book Review:

The authors are prominent economists, operation researchers, and engineers who have been instrumental in the development of the conceptual framework for electric power restructuring both in the United States and in other countries. Rather than espousing a particular market design for the industry's future, each author focuses on an important issue or set of issues and tries to frame the questions for designing electricity markets using an international perspective. The book focuses on the economic and technical questions important in understanding the industry's long-term development rather than providing immediate answers for the current political debates on industry competition.

Competitive Electricity Markets and Sustainability

Competitive Electricity Markets and Sustainability
Author: François Lévêque
Publsiher: Edward Elgar Publishing
Total Pages: 320
Release: 2007-01-01
ISBN 10: 184720435X
ISBN 13: 9781847204356
Language: EN, FR, DE, ES & NL

Competitive Electricity Markets and Sustainability Book Review:

This book responds to the opening up of electricity markets to competition, which has completely changed the nature of power generation. The building of new generation and transmission capacity and the setting of the energy mix between nuclear, gas and renewable resources are mainly left to private initiative and investors. The authors and the editor of this book explore whether or not market forces offer a sustainable future for electricity generation. They employ economic theory and method to answer questions such as: Will the market be able to ensure adequacy of generation capacity and secu.

Pricing in Competitive Electricity Markets

Pricing in Competitive Electricity Markets
Author: Ahmad Faruqui,Kelly Eakin
Publsiher: Springer Science & Business Media
Total Pages: 450
Release: 2012-12-06
ISBN 10: 1461545293
ISBN 13: 9781461545293
Language: EN, FR, DE, ES & NL

Pricing in Competitive Electricity Markets Book Review:

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.

Valuation Hedging and Speculation in Competitive Electricity Markets

Valuation  Hedging and Speculation in Competitive Electricity Markets
Author: Petter L. Skantze,Marija Ilic
Publsiher: Springer Science & Business Media
Total Pages: 214
Release: 2001-10-31
ISBN 10: 9780792375289
ISBN 13: 0792375289
Language: EN, FR, DE, ES & NL

Valuation Hedging and Speculation in Competitive Electricity Markets Book Review:

The challenges facing participants in competitive electricity markets are staggering: high price volatility introduces significant financial risk into an industry accustomed to guaranteed rates of return, while illiquid forward markets prevent effective hedging strategies from being implemented. Valuation, Hedging and Speculation in Competitive Electricity Markets: A Fundamental Approach, examines the unique properties which separate electricity from other traded commodities, including the lack of economical storage, and the impact of a scarce transmission network. The authors trace the sources of uncertainties in the price of electricity to underlying physical and economic processes, and incorporate these into a bid-based model for electricity spot and forward prices. They also illustrate how insufficient market data can be circumvented by using a combination of price and load data in the marking- to-market process. The model is applied to three classes of problems central to the operation of any electric utility or power marketer; valuing generation assets, formulating dynamic hedging strategies for load serving obligations, and pricing transmission contracts and locational spread options. Emphasis is placed on the difference between trades which can be 'booked out' in the forward markets, and those which must be carried through to delivery. Lately, significant attention has been given to the role of regulators in mitigating excessive price levels in electricity markets. The authors conduct a quantitative analysis of the long-term effects of regulatory intervention through the use of price caps. By modeling the dynamic interplay between the observed price levels and the decision to invest in new generation assets, it is shown how such short term fixes can lead to long term deficits in the available generation capacity, and ultimately to market failures and blackouts.

Electricity Market Reform

Electricity Market Reform
Author: Fereidoon P. Sioshansi,Wolfgang Pfaffenberger
Publsiher: Elsevier
Total Pages: 688
Release: 2006-04-13
ISBN 10: 9780080462714
ISBN 13: 0080462715
Language: EN, FR, DE, ES & NL

Electricity Market Reform Book Review:

Since the late 1980s, policy makers and regulators in a number of countries have liberalized, restructured or “deregulated their electric power sector, typically by introducing competition at the generation and retail level. These experiments have resulted in vastly different outcomes - some highly encouraging, others utterly disastrous. However, many countries continue along the same path for a variety of reasons. Electricity Market Reform examines the most important competitive electricity markets around the world and provides definitive answers as to why some markets have performed admirably, while others have utterly failed, often with dire financial and cost consequences. The lessons contained within are direct relevance to regulators, policy makers, the investment community, industry, academics and graduate students of electricity markets worldwide. Covers electicity market liberalization and deregulation on a worldwide scale Features expert contributions from key people within the electricity sector

Modelling Prices in Competitive Electricity Markets

Modelling Prices in Competitive Electricity Markets
Author: Derek W Bunn,Derek W. Bunn
Publsiher: John Wiley & Sons Incorporated
Total Pages: 337
Release: 2004-04-02
ISBN 10:
ISBN 13: UCSC:32106015982231
Language: EN, FR, DE, ES & NL

Modelling Prices in Competitive Electricity Markets Book Review:

Electricity markets are structurally different to other commodities, and the real-time dynamic balancing of the electricity network involves many external factors. Because of this, it is not a simple matter to transfer conventional models of financial time series analysis to wholesale electricity prices. The rationale for this compilation of chapters from international authors is, therefore, to provide econometric analysis of wholesale power markets around the world, to give greater understanding of their particular characteristics, and to assess the applicability of various methods of price modelling. Researchers and professionals in this sector will find the book an invaluable guide to the most important state-of-the-art modelling techniques which are converging to define the special approaches necessary for unravelling and forecasting the behaviour of electricity prices. It is a high-quality synthesis of the work of financial engineering, industrial economics and power systems analysis, as they relate to the behaviour of competitive electricity markets.

Restructured Electric Power Systems

Restructured Electric Power Systems
Author: Xiao-Ping Zhang
Publsiher: John Wiley & Sons
Total Pages: 307
Release: 2010-10-15
ISBN 10: 9781118017074
ISBN 13: 1118017072
Language: EN, FR, DE, ES & NL

Restructured Electric Power Systems Book Review:

The latest practical applications of electricity market equilibrium models in analyzing electricity markets Electricity market deregulation is driving the power energy production from a monopolistic structure into a competitive market environment. The development of electricity markets has necessitated the need to analyze market behavior and power. Restructured Electric Power Systems reviews the latest developments in electricity market equilibrium models and discusses the application of such models in the practical analysis and assessment of electricity markets. Drawing upon the extensive involvement in the research and industrial development of the leading experts in the subject area, the book starts by explaining the current developments of electrical power systems towards smart grids and then relates the operation and control technologies to the aspects in electricity markets. It explores: The problems of electricity market behavior and market power Mathematical programs with equilibrium constraints (MPEC) and equilibrium problems with equilibrium constraints (EPEC) Tools and techniques for solving the electricity market equilibrium problems Various electricity market equilibrium models State-of-the-art techniques for computing the electricity market equilibrium problems The application of electricity market equilibrium models in assessing the economic benefits of transmission expansions for market environments, forward and spot markets, short-term power system security, and analysis of reactive power impact Also featured are computational resources to allow readers to develop algorithms on their own, as well as future research directions in modeling and computational techniques in electricity market analysis. Restructured Electric Power Systems is an invaluable reference for electrical engineers and power system economists from power utilities and for professors, postgraduate students, and undergraduate students in electrical power engineering, as well as those responsible for the design, engineering, research, and development of competitive electricity markets and electricity market policy.

Economics of Electricity

Economics of Electricity
Author: Anna Cretì,Fulvio Fontini
Publsiher: Cambridge University Press
Total Pages: 366
Release: 2019-05-30
ISBN 10: 1107185653
ISBN 13: 9781107185654
Language: EN, FR, DE, ES & NL

Economics of Electricity Book Review:

This comprehensive and up-to-date book explains the economic rationale behind the production, delivery and exchange of electricity. Cret and Fontini explain why electricity markets exist, outlining the economic principles behind the exchange and supply of power to consumers and firms. They identify the specificities of electricity, as compared to other goods, and furthermore suggest how markets should be optimally designed to produce and deliver electricity effectively and efficiently. The authors also address key issues, including how electricity can be decarbonized. Written in a technical yet accessible style, this book will appeal to readers studying power system economics and the economics of electricity, as well as those more generally interested in energy economics, including engineering and management students looking to gain an understanding of electricity market analysis.

Electricity Markets

Electricity Markets
Author: Chris Harris
Publsiher: John Wiley & Sons
Total Pages: 542
Release: 2011-01-31
ISBN 10: 1119995132
ISBN 13: 9781119995135
Language: EN, FR, DE, ES & NL

Electricity Markets Book Review:

Understand the electricity market, its policies and how they drive prices, emissions, and security, with this comprehensive cross-disciplinary book. Author Chris Harris includes technical and quantitative arguments so you can confidently construct pricing models based on the various fluctuations that occur. Whether you?re a trader or an analyst, this book will enable you to make informed decisions about this volatile industry.

Making Competition Work in Electricity

Making Competition Work in Electricity
Author: Sally Hunt
Publsiher: John Wiley & Sons
Total Pages: 450
Release: 2002-10-01
ISBN 10: 9780471266020
ISBN 13: 0471266027
Language: EN, FR, DE, ES & NL

Making Competition Work in Electricity Book Review:

An expert's perspective on how competition can make this industry work. There has never been a coherent plan to restructure the electricity industry in the USâ??until now. Power expert Sally Hunt gets down to the critical lessons learned from the California power crisis and other deregulated markets, in which competition has been introduced properly and successfully. Hunt presents sensible solutions to power market reform that have been cultivated over her twenty years of professional work in the industry. Sally Hunt (New York, NY) spent twenty years at National Economic Research Associates, where she was head of NERA's U.S. energy practice and a member of the board. Coauthor of Competition and Choice in Electricity with Graham Shuttleworth (0471957828), she has served as Corporate Economist at Con Edison, Deputy Director of the New York City Energy Office, and Assistant Administrator of the New York City Environmental Protection Administration. Over the years, financial professionals around the world have looked to the Wiley Finance series and its wide array of bestselling books for the knowledge, insights, and techniques that are essential to success in financial markets. As the pace of change in financial markets and instruments quickens, Wiley Finance continues to respond. With critically acclaimed books by leading thinkers on value investing, risk management,asset allocation, and many other critical subjects, the Wiley Finance series provides the financial community with information they want. Written to provide professionals and individuals with the most current thinking from the best minds in the industry, it is no wonder that the Wiley Finance series is the first and last stop for financial professionals looking to increase their financial expertise.

Power System Operations and Electricity Markets

Power System Operations and Electricity Markets
Author: Fred I. Denny,David E. Dismukes
Publsiher: CRC Press
Total Pages: 152
Release: 2017-12-19
ISBN 10: 1420058452
ISBN 13: 9781420058451
Language: EN, FR, DE, ES & NL

Power System Operations and Electricity Markets Book Review:

The electric power industry in the U.S. has undergone dramatic changes in recent years. Tight regulations enacted in the 1970's and then de-regulation in the 90's have transformed it from a technology-driven industry into one driven by public policy requirements and the open-access market. Now, just as the utility companies must change to ensure their survival, engineers and other professionals in the industry must acquire new skills, adopt new attitudes, and accommodate other disciplines. Power System Operations and Electricity Markets provides the information engineers need to understand and meet the challenges of the new competitive environment. Integrating the business and technical aspects of the restructured power industry, it explains, clearly and succinctly, how new methods for power systems operations and energy marketing relate to public policy, regulation, economics, and engineering science. The authors examine the technologies and techniques currently in use and lay the groundwork for the coming era of unbundling, open access, power marketing, self-generation, and regional transmission operations. The rapid, massive changes in the electric power industry and in the economy have rendered most books on the subject obsolete. Based on the authors' years of front-line experience in the industry and in regulatory organizations, Power System Operations and Electricity Markets is current, insightful, and complete with Web links that will help readers stay up to date.

Evolution of Global Electricity Markets

Evolution of Global Electricity Markets
Author: Fereidoon P. Sioshansi
Publsiher: Academic Press
Total Pages: 880
Release: 2013-06-10
ISBN 10: 0123979064
ISBN 13: 9780123979063
Language: EN, FR, DE, ES & NL

Evolution of Global Electricity Markets Book Review:

Get the latest on rapidly evolving global electricity markets direct from the scholars and thought leaders who are shaping reform. In this volume, dozens of world-class experts from diverse regions provide a comprehensive assessment of the relevant issues in today’s electricity markets. Amid a seething backdrop of rising energy prices, concerns about environmental degradation, and the introduction of distributed sources and smart grids, increasingly stringent demands are being placed on the electric power sector to provide a more reliable, efficient delivery infrastructure, and more rational, cost-reflective prices. This book maps out the electric industry’s new paradigms, challenges and approaches, providing invaluable global perspective on this host of new and pressing issues being investigated by research institutions worldwide. Companies engaged in the power sector’s extensive value chain including utilities, generation, transmission & distribution companies, retailers, suppliers, regulators, market designers, and the investment & financial rating community will benefit from gaining a more nuanced understanding of the impacts of key market design and restructuring choices. How can problems be avoided? Why do some restructured markets appear to function better than others? Which technological implementations represent the best investments? Which regulatory mechanisms will best support these new technologies? What lessons can be learned from experiences in Norway, Australia, Texas, or the U.K.? These questions and many more are undertaken by the brightest minds in the industry in this one 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

Mathematical Modelling of Contemporary Electricity Markets

Mathematical Modelling of Contemporary Electricity Markets
Author: Athanasios Dagoumas
Publsiher: Academic Press
Total Pages: 442
Release: 2021-01-29
ISBN 10: 0128218398
ISBN 13: 9780128218396
Language: EN, FR, DE, ES & NL

Mathematical Modelling of Contemporary Electricity Markets Book Review:

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

Integrating Renewables in Electricity Markets

Integrating Renewables in Electricity Markets
Author: Juan M. Morales,Antonio J. Conejo,Henrik Madsen,Pierre Pinson,Marco Zugno
Publsiher: Springer Science & Business Media
Total Pages: 429
Release: 2013-12-03
ISBN 10: 1461494117
ISBN 13: 9781461494119
Language: EN, FR, DE, ES & NL

Integrating Renewables in Electricity Markets Book Review:

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.

Competitive Electricity Markets The Power of Choice

Competitive Electricity Markets  The Power of Choice
Author: Joseph L. Welch, PE,C. J. Bolling, PhD
Publsiher: Lulu.com
Total Pages: 224
Release: 2009
ISBN 10: 0557160170
ISBN 13: 9780557160174
Language: EN, FR, DE, ES & NL

Competitive Electricity Markets The Power of Choice Book Review:

Critique of the US Electricity Industry. Analysis of derailed industry deregulation initiatives. Sketches a new, competitively structured Energy Policy Template.

Economic Regulation and Its Reform

Economic Regulation and Its Reform
Author: Nancy L. Rose
Publsiher: University of Chicago Press
Total Pages: 704
Release: 2014-08-29
ISBN 10: 022613816X
ISBN 13: 9780226138169
Language: EN, FR, DE, ES & NL

Economic Regulation and Its Reform Book Review:

The past thirty years have witnessed a transformation of government economic intervention in broad segments of industry throughout the world. Many industries historically subject to economic price and entry controls have been largely deregulated, including natural gas, trucking, airlines, and commercial banking. However, recent concerns about market power in restructured electricity markets, airline industry instability amid chronic financial stress, and the challenges created by the repeal of the Glass-Steagall Act, which allowed commercial banks to participate in investment banking, have led to calls for renewed market intervention. Economic Regulation and Its Reform collects research by a group of distinguished scholars who explore these and other issues surrounding government economic intervention. Determining the consequences of such intervention requires a careful assessment of the costs and benefits of imperfect regulation. Moreover, government interventions may take a variety of forms, from relatively nonintrusive performance-based regulations to more aggressive antitrust and competition policies and barriers to entry. This volume introduces the key issues surrounding economic regulation, provides an assessment of the economic effects of regulatory reforms over the past three decades, and examines how these insights bear on some of today’s most significant concerns in regulatory policy.

Competition in Electricity Markets

Competition in Electricity Markets
Author: IEA Staff,OECD. Publishing,Organization For Economic Cooperation and Development Oecd,Carlos Ocaña,Agence internationale de l'énergie,International Energy Agency,Organization for Economic Cooperation and Development (OECD) Staff,Organisation for Economic Co-operation and Development
Publsiher: Organization for Economic
Total Pages: 160
Release: 2001
ISBN 10:
ISBN 13: UOM:39015053380575
Language: EN, FR, DE, ES & NL

Competition in Electricity Markets Book Review:

This book analyses the development of choice and competition in the Electricity Supply Industry (ESI). Drawing on a review of the international experience, it describes the main approaches that are being developed, discusses the key issues in the effective reform of electricity markets and provides an assessment of the emerging approach to reform. The book is written from the perspective of regulators and policy makers. It seeks to answer the question: what is an effective regulatory framework for competition in electricity markets?

Electricity Deregulation

Electricity Deregulation
Author: James M. Griffin,Steven L. Puller
Publsiher: University of Chicago Press
Total Pages: 416
Release: 2009-11-15
ISBN 10: 9780226308586
ISBN 13: 0226308588
Language: EN, FR, DE, ES & NL

Electricity Deregulation Book Review:

The electricity market has experienced enormous setbacks in delivering on the promise of deregulation. In theory, deregulating the electricity market would increase the efficiency of the industry by producing electricity at lower costs and passing those cost savings on to customers. As Electricity Deregulation shows, successful deregulation is possible, although it is by no means a hands-off process—in fact, it requires a substantial amount of design and regulatory oversight. This collection brings together leading experts from academia, government, and big business to discuss the lessons learned from experiences such as California's market meltdown as well as the ill-conceived policy choices that contributed to those failures. More importantly, the essays that comprise Electricity Deregulation offer a number of innovative prescriptions for the successful design of deregulated electricity markets. Written with economists and professionals associated with each of the network industries in mind, this comprehensive volume provides a timely and astute deliberation on the many risks and rewards of electricity deregulation.