Reliability Management in Competitive Electricity Markets.
This paper examines market design issues for reliability management in competitive power markets. The institutional structure is characterized by a power exchange that conducts electricity market trading, a system operator that operates the electric power system, and a property right system for transmission pricing. In a competitive market, priority insurance fosters market information for determining efficient system reliability levels and induces system operators to maintain system security efficiently. A six-node network example is examined to illustrate the basic insights. Copyright 1998 by Kluwer Academic Publishers
Year of publication: |
1998
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Authors: | Chao, Hung-Po ; Peck, Stephen C |
Published in: |
Journal of Regulatory Economics. - Springer. - Vol. 14.1998, 2, p. 189-200
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Publisher: |
Springer |
Saved in:
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