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...

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,...

This paper presents a model to solve the Generation Expansion Planning (GEP), problem in competitive electricity markets. The developed approach recognizes the presence of several generation agents aiming at maximizing their profits and that the planning environment is influenced by...

The increase in PV (photovoltaic) capacities in Germany had since 2011 on some days already significant impacts on spot market prices at the German electricity exchange. The core objective of this paper is to investigate the possible effects of a further uptake of PV on the prices in electricity...