This book makes a contribution to the formulation and implementation of production cost models for the modelling of liberalized electricity markets by addressing issues associated with the level of detail in the representation of the underlying power system, the accuracy of the results and the...

There are many techniques for electricity market price forecasting. However, most of them are designed for expected price analysis rather than price spike forecasting. An effective method of predicting the occurrence of spikes has not yet been observed in the literature so far. In this paper, a...

This article presents two new methodologies for the optimal placement of distributed generation (DG) in an optimal power flow (OPF) based wholesale electricity market. DG is assumed to participate in the real time wholesale electricity market. The problem of optimal placement, including size, is...

This work concerns the formulation and solution of a multi-period security-constrained optimal power flow problem for real-time electricity market operations. The solution of the proposed problem is intended to be part of the core pricing procedure for electricity trading in open markets where...

Mit der Liberalisierung des europäischen Marktes für elektrische Energie haben sich die Randbedingungen für alle in diesem Markt tätigen Unternehmen grundlegend verändert. Um das langfristige Ziel eines europäischen Binnenmarktes zu erreichen, sind erhebliche Eingriffe in die unter...

In the electricity market environment, bidding strategies employed by generation companies may have significant impacts on their own benefits, and on the operating behaviors of an electricity market as well. Hence, how to develop optimal bidding strategies for generation companies or how to...

In a competitive electricity market, a generation company (Genco) can manage its trading risk through trading electricity among multiple markets such as spot markets and contract markets. The question is how to decide the trading proportion of each market in order to maximize the Genco's profit...

In a competitive electricity market with highly fluctuated electricity price, local distribution companies (LDCs) need to purchase electric power from several energy markets, such as spot markets, long-term tolling agreements and forward contracts, to maximize profits and minimize risks....

A firm energy market for Colombia is presented. Firm energy—the ability to provideenergy in a dry period—is the product needed for reliability in Colombia’s hydrodominatedelectricity market. The firm energy market coordinates investment in newresources to assure that sufficient firm energy...

We argue that a capacity market is needed in most restructured electricitymarkets, and present a design that avoids problems found in the early capacitymarkets. The proposed market only rewards capacity that contributes toreliability as demonstrated by its performance during hours in which there...