This paper examines the likely market for electrical energy storage from a market viewpoint, taking market prices as given and determining the extent to which a strategy of arbitrage across the day, buying at the lowest price times at night and selling at the highest times during the early...

This paper characterises the impact of vertical integration on price equilibria and incentives to strategically withhold capacity in a wholesale electricity auction. A two-stage game is analysed where vertically integrated firms first declare the quantity of electricity available and then...

Power systems with high shares of wind and solar power have to balance their intermittent nature. Pumped‐hydro storage plants can provide the required flexibility, while thermal backup plants offer an alternative. This paper proposes a model based on peak‐load‐pricing theory to describe...

We develop a model of the dynamic structure of capacity factor risk. It incorporates the risk that the capacity factor may vary widely from year-to-year, and also the risk that the reactor may be permanently shutdown prior to the end of its anticipated useful life. We then fit the parameters of...

The aim of this article is to investigate the impact that the introduction of a carbon price signal will have on fuel switching within the electricity generation sector from sources of generation with high carbon footprints to sources of generation with lower carbon footprints. To examine this...

This paper investigates the effect of wind generation in the states comprising the Australian National Electricity Market (NEM). The methodology utilize an agent based model, which contains many features salient to the NEM including intra-state and inter-state transmission branches, regional...

The promotion of electricity from renewable energies in Germany causes difficulties in the profitable operation of many modern conventional power plants. Nevertheless, fluctuating availability of power from renewable energy sources requires flexible conventional plants, i.e. power plants which...

This paper studies the strategic interactions between two electricity generators, the first producing with a \traditional" technology and the second employing a \renewable" technology characterized by the random availability of capacity due to the intermittency of its power source. The...

Electricity prices should fully link the consumer price to peak-period generation costs, environmental costs and the high cost of new generation, according to an expert analysis released today by the C.D. Howe Institute. The author says such pricing reform is required to reduce both financial...

Solar and wind power are now cheaper than fossil fuels but are intermittent. The extra supply-side variability implies growing benefits of using real-time retail pricing (RTP). We evaluate the potential gains of RTP using a model that jointly solves investment, supply, storage, and demand to...