Increasing energy insecurity, and a growing contribution of transport sector in total greenhouse gas (GHG) emission have recently pushed India to look for alternative energy sources and ‘de-carbonise’ its transport sector. As a part of policy to introduce more electric vehicles (EVs) in...

This chapter explores the state of the emerging practice of designing markets by the use of agent-based modeling, with special reference to electricity markets and computerized (on-line) markets, perhaps including real-life electronic agents as well as human traders. The paper first reviews the...

This paper describes a way to model a seasonally and irregularly peaking price dynamics, as that originated in commodity and energy markets, using a system of coupled nonlinear stochastic differential equations. The specific case of an electric power market is used to show which microeconomic...

This paper describes the economic phenomenon of price spiking in electric power markets and introduces a new way to model it. A stochastic FitzHugh-Nagumo dynamics in a special regime is proposed as a basic model for the power market, and an extension of the FitzHugh-Nagumo system is introduced...

This paper discusses a simple regime-switching SETARX model for electricity prices in discrete and continuous time. The regime structure of the model is linked to market organizational features. In continuous time the model can include spikes without using jumps

This paper discusses a rather general approach to build nonlinear dynamic models that reproduce some important aspects of electricity price series, as spike and antispike dynamics. Two specific models are proposed first in a continuous time form, then in four discrete time forms. It is then...

In 1999, Maryland chose to join several other coastal states in restructuring its electricity markets, in an effort to bring cheaper electricity into the state to supply heavy manufacturers who were considering relocating to places with cheaper supply. Initially, this policy change appeared...

Given the characteristics of electricity and the reforms that this sector has undergone, there is still a lot of discussion regarding the best way of ensuring adequate supply in such an environment. The situation is even more critical for countries like Colombia with high dependence on hydro...

Electricity system operations are often affected by energy policies, but spatial differences in policy impacts are difficult to model. We develop a method for estimating zonal supply curves in transmission-constrained electricity markets that can be implemented quickly by policy analysts with...