Evolving Competitive Electricity Markets: Enablement through Advanced Analytics and Cognitive Solutions

Transmission Investment and Competitive Electricity Markets

A short-term electricity market coordinated by a system operator provides a foundation for a competitive electricity market. In this setting, transmission congestion contracts are equivalent to perfectly tradeable physical transmission rights. With such contracts to allocate transmission benefits, it would be possible to rely more on market forces, partly if not completely, to drive transmissio...

Nuclear Power in Competitive Electricity Markets

Auction Design for Competitive Electricity Markets

Dynamic Competitive Equilibria in Electricity Markets

This chapter addresses the economic theory of electricity markets, viewed from an idealized competitive equilibrium setting, taking into account volatility and the physical and operational constraints inherent to transmission and generation. In a general dynamic setting, we establish many of the standard conclusions of competitive equilibrium theory: Market equilibria are efficient, and average...

Understanding Competitive Pricing and Market Power in Wholesale Electricity Markets

In the ̄rst year of the deregulated California electricity market, a number of issues have arisen that relate to the competitiveness of the wholesale electricity market in the state. There have been lively debates over the need for price caps in the California Power Exchange (PX) day-ahead market and the California Independent System Operator's (ISO) real-time and ancillary services markets. The...