Since the early 1990s, an increasing number of countries worldwide have liberalized their electricity power sectors. Contrary to before, when power sectors were not open to competition and prices were set by regulators according to the cost of generation, transmission and distribution, electricity prices are now determined by an equilibrium of supply and demand. On one hand, electricity contrac...

Networked Infrastructure systems deliver services and/or products from point to point along the network. Demand for the services provided by such systems is typically cyclic, creating inefficiencies in capacity utilization. Congestion pricing provides incentives to shift demand from peak time periods to lower demand periods. This effectively increases the capacity of the system without the need...

one of the effective methods for improving the efficiency of an organization is benchmarking against successful organizations. not only benchmarking could be a technique for identifying problems but also it greatly helps managers in relations of the design of processes. among strategic and infrastructure industries in each country, the electricity industry is one of the most important and criti...

This paper develops and parameterizes an overarching analytical framework to estimate the welfare effects of energy efficiency standards applied to automobiles and electricity-using durables. We also compare standards with sectoral and economywide pricing policies. The model captures a wide range of externalities and preexisting energy policies, and it allows for possible “misperceptions”—marke...

1 Public policy development for electricity restructuring emphasizes institutions for market operations in network systems. The different models present alternatives for the mix of responsibilities of the necessary system operator. Customer flexibility and choice require efficient pricing; inefficient pricing necessarily limits market flexibility. The analysis points to an integrated independen...

Retail real-time pricing (RTP) of electricity – retail pricing that changes hourly to reflect the changing supply/demand balance – is very appealing to economists because it “sends the right price signals.” Economic efficiency gains from RTP, however, are often confused with the short-term wealth transfers from producers to consumers that RTP can create. Abstracting from transfers, I focus on t...

The objective of this study was to assess the benefits of introducing a demand side management optimisation controller to a cold thermal storage ice bank. This controller consisted of an ice bank model, an air temperature forecast model and an optimisation algorithm. The financial and grid utilisation benefits produced by implementation of this controller over the current state of the art in ic...

—The renewable energy generating terminals (REGTs)not only have capability to generate electricity for them own usage but also have surplus electricity to sell to the Power Grid (PG). However, the REGTs are generally selfinterested. Due to the diversity in their supply capacity, REGT shave different preferences toward selling electricity, which is the private information and unknown to the PG....

Forecasting prices in electricity markets is critical for consumers and producers in planning their operations and managing their price risk. We utilize the generalized autoregressive conditionally heteroskedastic (GARCH) method to forecast the electricity prices in two regions of New York: New York City and Central New York State. We contrast the one-day forecasts of the GARCH against techniqu...