In the context of the ongoing deregulation of the electricity industry, we revisit the commonly held assumption that, under the condition of perfect information, a decentralized unit commitment would lead to the same power quantities traded and the same optimal social welfare as centralized unit commitment. Taking fixed operating costs into account, we show that meeting decentralized performanc...

This paper presents a decision support methodology for electricity market players’ bilateral contract negotiations. The proposed model is based on the application of game theory, using artificial intelligence to enhance decision support method’s adaptive features. This model is integrated in AiD-EM (Adaptive Decision Support for Electricity Markets Negotiations), a multi-agent system that provi...

Market power is the ability of a firm to raise the price of a product above its fair and competitive level. Locational market power is a special kind of market power that arises when locational advantage allows suppliers to act non-competitively. For example, in case of the electricity market, binding transmission constraints can prevent adequate competition. Transmission constraints can create...

All over the world Distributed Generation is seen as a valuable help to get cleaner and more efficient electricity. Under this context distributed generators, owned by different decentralized players can provide a significant amount of the electricity generation. To get negotiation power and advantages of scale economy, these players can be aggregated giving place to a new concept: the Virtual ...

Market power and allegations of market power abuse are perhaps the most contentious contemporary issues concerning electricity markets. A number of industry observers and participants have made allegations regarding the abuse of market power. While some of these allegations may be well-founded, many others may be nothing more than an attempt by some to retroactively correct for their own bad bu...

We address the problem of pricing contingent claims written on electricity. The special feature of this paper is to consider contract pricing within a market for power producing plants. Calculating equilibrium prices for this market, we obtain a valuation for electricity contingent claims which is fair in the sense that arbitrage is excluded for capacity and claim trading.

In the restructured environment of electricity market, firstly the generating companies and the customers are looking for maximizing their profit and secondly independent system operator is looking for the stability of the power network and maximizing social welfare. In this paper, a one way auction in the electricity market for the generator companies is considered in both perfect and imperfec...

Electricity price predictions have become a major discussion on competitive market under deregulated power system. But, the exclusive characteristics of electricity price such as non-linearity, non-stationary and time-varying volatility structure present several challenges for this task. In this paper, a new forecast strategy based on the iterative neural network is proposed for Day-ahead price...

this paper expands a model different from existing models to analyze the cost and benefit of areinforced concrete solar chimney power plant (rcscpp) built in the desert regions of iran.based on the model and some assumptions for values of parameters, this paper calculates totalnet present value (tnpv) and the minimum electricity price in each phase by dividing the wholeservice period into four ...

a r t i c l e i n f o JEL classification: D82 D83 Q49 L11 L12 L94 Keywords: Price pass-through Norwegian electricity market Price asymmetry Market power Transmission lag In this paper we estimate the pass-through of wholesale electricity price to the end consumer price with variable price contracts in the Norwegian electricity market using weekly data. We find substantial asymmetry when retaile...