This paper proposes a decentralized market-based model for long-term capacity investment decisions in a liberalized electricity market. Investment decisions are fundamentally based on total revenues gained by investors. In most electricity markets, the complementary mechanisms are designed to...

In a competitive market where all producers must participate in the market, WPPs (wind power producers) face two sources of uncertainty: (i) future market prices, and (ii) their production capability in coming hours. In this paper a risk-constrained optimal self-scheduling method for a WPP...

Many important electricity policy initiatives would directly affect the operation of electric power networks. This paper develops a method for estimating short-run zonal supply curves in transmission-constrained electricity markets that can be implemented quickly by policy analysts with training...

Over the past three years Italy has seen a rapid growth in the PV (photovoltaic) energy market, followed by an equally sudden decline when the government decided to reduce the incentives. This sharp change in the trend of the market calls into question the achievement of the so called Grid...

This paper presents a new multi-objective optimization based reactive power price clearing (RPPC) mechanism, considering voltage stability. Use of realistic voltage dependent load models is important in power system analysis and optimization. The influence of the same on RPPC is investigated in...

The Iberian power systems went through important changes at the legal, regulatory and organizational levels in the last 20 years. One of the most relevant ones was the increasing penetration of distributed generation, namely wind parks, together with the development of the common market...

In electricity markets, traditional demand side management programs are slowly getting replaced with demand response (DR) programs. These programs have evolved since the early pilot programs launched in late 1990s. With the changes in market rules the opportunities have generally increased for...

This paper presents a method for evaluating investments in decentralized renewable power generation under price un certainty. The analysis is applicable for a client with an electricity load and a renewable resource that can be utilized for power generation. The investor has a deferrable...

The performance of a hybrid wind–solar power plant in southwestern Minnesota is modeled for a 2-yr period using hourly wind and solar insolation data. The wind portion of the plant consists of four interconnected wind farms within a radius of 90km. The solar component of the plant is a...

The objective of this study is to present a new method for determination of the optimal bidding strategies among generating companies (GenCo) in the electricity markets using agent-based approach and numerical sensitivity analysis (NSA). While agent-based approach provides for decision making,...